Home > Automotive > Automotive Parts > Interior Parts > Automotive Battery Management System Market

Automotive Battery Management System Market Trends

  • Report ID: GMI12607
  • Published Date: Dec 2024
  • Report Format: PDF

Automotive Battery Management System Market Trends

The integration of State-of-Charge (SOC) sensors in Battery Management Systems is becoming a key trend in the automotive sector. These sensors provide real-time data on battery charge levels, enhancing the accuracy and efficiency of energy use. With the growing demand for electric vehicles, SOC sensors enable better battery performance, safety, and lifespan, contributing to the overall optimization of electric powertrains.
 

For instance, in September 2024, LEM introduced its new Single Monitoring Unit sensor family, designed to improve the performance and safety of electric vehicles (EVs). This innovative sensor is specifically developed for full hybrid electric vehicles, plug-in hybrid electric vehicles, and battery electric vehicles, addressing the critical need for precise state of charge estimation in battery management systems.
 

High development costs for advanced Battery Management System (BMS) technologies remain a significant challenge, limiting the affordability and scalability of these systems. Integrating these complex BMS solutions into existing vehicle architectures can also be difficult, especially as automakers continue to adapt to new electric vehicle designs. Additionally, the rapid pace of technological advancements can lead to issues with system compatibility and obsolescence. These factors contribute to delays in product development and increased costs, potentially hindering the widespread adoption of advanced BMS solutions in the automotive sector.

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of automotive battery management system reached USD 4.1 billion in 2024 and is set to grow at a 17.4% CAGR from 2025 to 2034, driven by the rising demand for electric vehicles.

The hardware segment accounted for 78% of the market share in 2024 and is expected to exceed USD 15 billion by 2034, led by advancements in microcontrollers, power management ICs, and sensors.

The North America market accounted for 37% of the revenue share in 2024 and is expected to exceed USD 7 billion by 2034, propelled by stricter environmental regulations and government incentives.

The key players in the industry include Analog Devices, Bosch, Continental, Infineon, Johnson Matthey, LG Chem, Midtronics, NXP, Renesas Electronics, and Toshiba.

Automotive Battery Management System Market Scope

Buy Now


Premium Report Details

  • Base Year: 2024
  • Companies covered: 20
  • Tables & Figures: 200
  • Countries covered: 22
  • Pages: 180
 Download Free Sample