Valley Cottage, NY -- (SBWIRE) -- 05/02/2018 -- A Battery management system is an electronic system which helps in maintaining the optimal health of rechargeable batteries. BMS manages batteries by controlling load environment, monitoring battery state and accordingly balancing the charging. The global automotive battery management system market is expected to register a CAGR of 22.1% over the forecast period (2017-2027) in value terms. The estimated volume of automotive battery management system market in 2017 is 10,931 '000 units and is expected to expand at a CAGR of 20.8% in order to reach 72,264 '000 Units by the end of 2027

Factors influencing the Global Automotive Battery Management System Market growth

Manufacturing techniques have transformed significantly over the past century. In comparison to traditional or conventional system, electronic system have emerged as a more efficient technology. The scenario has changed completely after the inclusion of electronic technologies in the system. Growing sales of HEV, PHEV and BEV across the globe is expected to drive the growth of the automotive battery management system market.

Furthermore, with the rising environmental concerns focused towards minimizing exhaust emission has resulted in high demand for battery management system. Moreover, increasing production of hybrid and electric vehicle and healthy growth in automotive industry will drive the growth of automotive battery management system market over the forecast period.

Furthermore, application of battery management system increases the efficiency of the vehicles and Useful at prolonging life of batteries. Battery management system increases the safety by monitoring the charging function and temperature control which is anticipated to boost the market of battery management system in the near future. Increasing consumer awareness and growing trends for technologically advanced products will further give traction to the growth of market over the forecast period

Global Automotive Battery Management System Market segmentation and forecast

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The global automotive battery management system market is segmented on the basis of vehicle type, connection topology, sales channel and region. On the basis of vehicle type, the global automotive battery management system market has been segmented electric vehicle, golf cart and e-bikes. The electric vehicle segment is further segmented into passenger cars and commercial vehicles. On the basis of connection topology, the automotive battery management system market is segmented into centralized, distributed and modular. Key regions covered in the report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East and Africa (MEA) and Japan.

Global Automotive Battery Management System Market analysis, by region

From a regional perspective, automotive battery management system market s in APEJ region is anticipated to dominate the market in terms of volume and value demand. The market in the region will significantly be driven by demand from developing nations such as India and China. The growth of the region will be supplemented by increasing electric vehicle production and vehicle parc. Japan is anticipated to be the next big market accounting for value share of 21.8% by end of the forecast period. Western Europe and Eastern Europe collectively accounted for share of 15.2% in 2016.

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Key players dominating the Global Automotive Battery Management System Market

Some of the players reported in this study on the global automotive battery management system market are Johnson Matthey Plc., Analog Devices, Inc., Continental AG, NXP Semiconductors NV, Robert Bosch GmbH, Renesas Electronics Corporation, Toshiba Corporation, Texas Instruments Inc., Intel Corporation, LG Chem, Ltd., AVL LIST GmbH, Lithium Balance A/S, MIDTRONICS, Inc., Preh GmbH, HORIBA MIRA Ltd. Industry players, over the recent past, have been channelizing efforts towards innovative product development to improvise characteristics of battery management system and develop efficient products. Moreover, the trend that manufacturers have been strategizing to expand by focusing on research and development to develop new and innovative products.