Battery Management ICs Market with Size Estimation in Coming Years with Focusing Key players and Forecast

on

 

According to the battery management ICs market analysis done by Persistence Market Research, demand registered in the market is predicted to increase at a steady CAGR of around 5.1% from 2022-2032. The report states that the market is expected to reach a valuation of US$ 4.47 Bn in 2022. Surge in demand for hybrid electric vehicles is expected to drive demand growth of battery management ICs over the coming years.

Rise in the incorporation of battery management ICs in battery management systems stems from increasing stringent government regulations w.r.t to carbon emissions from traditional fuel vehicles with rising demand for renewable energy storage systems. Moreover, several industries are inclining toward the adoption of battery management ICs for overcharging prevention, thermal management, and controlling and optimization of charging cycles.

For in-depth competitive analysis, buy now@ https://www.persistencemarketresearch.com/checkout/23305      

Key Takeaways from Market Study

  • By IC type, battery charger ICs accounted for a leading share in the global market in 2021 and the segment is estimated to expand at a robust CAGR of 5.4% through 2032.
  • By application, the automotive segment is anticipated to increase at a CAGR of 6.7% between 2022 and 2032.
  • East Asia dominates the battery management ICs market, followed by North America. South Asia & Pacific is expected to be the fastest-growing regional marker.
  • The market in the U.S. is expected to progress at a CAGR of 6.1% during the forecast period.
  • In India, the battery management ICs market is expected to grow 2.4X by 2032.
  • The market in China is estimated to witness an absolute opportunity of US$ 292.9 Mn over the decade.

“To meet the increasing demand for technologically-advanced renewable products, organizations need to adopt energy-efficient battery systems, thereby lead to increased investments and awareness about battery management ICs,” says a Persistence Market Research analyst.

To remain ‘ahead’ of your competitors, request for a Sample@ https://www.persistencemarketresearch.com/samples/23305         

Rise in Number of Data Centers Fueling Demand for Battery Management ICs

Demand for data center infrastructure is growing exponentially with the rise in data consumption, cloud adoption, and ever-increasing digital users. Increasing requirement for power optimization in existing and new data centers with rapid growth in tier-4 type data is augmenting market growth. Efficient battery optimization under safe operating conditions with cost optimization is a prominent driver for market growth.

Rising demand for data centers to enjoy enormous uninterrupted power supply with nearly 100% uptime and reduced material and technology cost will also add to the demand growth of battery management ICs.

More Valuable Insights on Offer

Persistence Market Research’s report on the battery management ICs market is segmented into three major sections – IC type (battery charger ICs, battery authentication ICs, battery fuel gauge ICs, battery protector ICs, and others) application (automotive, industrial equipment, medical devices, consumer electronics, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa).

For critical insights on this market, request for customization here @ https://www.persistencemarketresearch.com/request-customization/23305

About us:

Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers’ experience by acting as the “missing” link between “customer relationships” and “business outcomes’. The best possible returns are assured therein.

Contact Us:

Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com
Website – https://www.persistencemarketresearch.com

 

Comments

Post a Comment