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Battery Design & Manufacturing Software Market Trends

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

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Battery Design & Manufacturing Software Market Trends

The rising focus on developing sustainable battery solutions is another important factor benefiting the industry expansion. Software tools not only facilitate the evaluation of environmental impacts of different designs and materials, but also aid in creating eco-friendly batteries. For instance, in September 2023, Capgemini disclosed a research partnership with the Chair of Electrical Energy Storage Technology at the TUM (Technical University of Munich) to develop AI solutions for optimizing sustainable advanced virtual battery design. The surging R&D efforts by governments, industries, and research institutions for developing sustainable battery technologies will assist in the market development.

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.