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Battery Design & Manufacturing Software Market Size

Report ID: GMI7759
Published Date: Jan 2024
Report Format: PDF

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Battery Design & Manufacturing Software Market Size

Battery Design & Manufacturing Software Market size was valued at USD 1.3 billion in 2023 and is estimated to register a CAGR of over 9% between 2024 and 2032. The increasing awareness regarding the environmental impacts of traditional batteries coupled with the burgeoning interest in sustainable batteries incorporated with eco-friendly materials or recycling existing resources will drive the market growth.

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Governments worldwide are enforcing stringent regulations on emissions and waste disposal through directives to limit adverse battery impacts throughout their lifecycle, from manufacturing to disposal. To cite an instance, in August 2023, in August 2022, Government of India published the Battery Waste Management Rules for ensuring the environmentally sound management of waste batteries. The robust preference for sustainable batteries as they help store energy from renewable sources like solar and wind power will also favor the market development.

Battery Design & Manufacturing Software Market Report Attributes
Report Attribute	Details
Base Year:	2023
Battery Design & Manufacturing Software Market Size in 2023:	USD 1.3 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	9%
2032 Value Projection:	USD 3 Billion
Historical Data for:	2018 - 2023
No. of Pages:	250
Tables, Charts & Figures:	334
Segments covered:	Category, Deployment model, Manufacturing type, End users
Growth Drivers:	Increasing demand for batteries in electric vehicles Growing technological advancements in battery technologies Integration of Industry 4.0 technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), and big data analytics Stringent environmental regulations and the growing emphasis on sustainability
Pitfalls & Challenges:	High R&D costs Compliance with the evolving regulations and standards

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Technological advances and expansion strategies for enabling the development of batteries with improved energy density, longer lifespan, and reduced reliance on environmentally harmful materials will play an ideal role in the market growth. For instance, in October 2023, FEV opened an advanced laboratory for customized battery systems as well as cells in Aachen, Germany.

The higher initial investment for software licenses, infrastructure, and training in implementing advanced software solutions for battery design and manufacturing may pose as a restriction for battery design & manufacturing software market size. The increased risk of cyber threats driven by the proliferation of interconnected systems, and the subsequent need to protect sensitive design and manufacturing data from breaches and cyberattacks may also limit the adoption for battery design & manufacturing software to some extent.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of battery design & manufacturing software reached USD 1.3 billion in 2023 and is set to grow at 9% CAGR from 2023 to 2032, led by the increasing awareness regarding the environmental impacts of traditional batteries alongside government regulations.

The automotive segment accounted for a market share of around 35% in 2023, backed by the higher incorporation of advanced battery systems in battery-powered EVs.

Asia Pacific market was worth USD 764.68 million in 2023, driven by strong focus on clean energy, which is further driving heavy investments in renewable energy sources like solar and wind power.

Altair Engineering Inc., Ansys, Autodesk, Inc., AVL GmbH are some of the major industry contenders.