1	INTRODUCTION	31 
1.1	STUDY OBJECTIVES	31 
1.2	MARKET DEFINITION	31 
1.2.1	INCLUSIONS AND EXCLUSIONS	32 
1.3	STUDY SCOPE	33 
1.3.1	MARKETS COVERED	33 
FIGURE 1	BATTERY MANAGEMENT SYSTEM MARKET SEGMENTATION	33 
1.3.2	REGIONS COVERED	33 
FIGURE 2	BATTERY MANAGEMENT SYSTEM MARKET: REGIONAL SEGMENTATION	33 
1.3.3	YEARS CONSIDERED	34 
1.4	CURRENCY CONSIDERED	34 
1.5	LIMITATIONS	34 
1.6	STAKEHOLDERS	35 
1.7	SUMMARY OF CHANGES	35 
2	RESEARCH METHODOLOGY	37 
2.1	RESEARCH DATA	37 
FIGURE 3	RESEARCH DESIGN	37 
2.1.1	SECONDARY AND PRIMARY RESEARCH	38 
FIGURE 4	RESEARCH APPROACH	38 
2.1.2	SECONDARY DATA	39 
2.1.2.1	Key secondary sources	39 
2.1.2.2	Key data from secondary sources	40 
2.1.3	PRIMARY DATA	40 
2.1.3.1	Primary interviews with experts	40 
2.1.3.2	Key data from primary sources	41 
2.1.3.3	Key industry insights	41 
2.1.3.4	Breakdown of primaries	42 
2.2	MARKET SIZE ESTIMATION	42 
2.2.1	BOTTOM-UP APPROACH	42 
2.2.1.1	Approaches to determining market size by bottom-up analysis	42 
FIGURE 5	BOTTOM-UP APPROACH	43 
2.2.2	TOP-DOWN APPROACH	43 
2.2.2.1	Approaches to determining market size by top-down analysis	43 
FIGURE 6	TOP-DOWN APPROACH	44 
FIGURE 7	MARKET SIZE ESTIMATION METHODOLOGY THROUGH SUPPLY-SIDE ANALYSIS	44 
2.3	DATA TRIANGULATION	45 
FIGURE 8	DATA TRIANGULATION	45 
2.4	RESEARCH ASSUMPTIONS	46 
FIGURE 9	RESEARCH ASSUMPTIONS	46 
2.5	APPROACHES TO UNDERSTANDING IMPACT OF RECESSION ON BATTERY MANAGEMENT SYSTEM MARKET	47 
2.6	RISK ASSESSMENT	47 
3	EXECUTIVE SUMMARY	48 
FIGURE 10	MOTIVE BATTERIES TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD	48 
FIGURE 11	LITHIUM-ION BATTERY TYPE TO HOLD LARGEST MARKET SHARE BY 2028	49 
FIGURE 12	AUTOMOTIVE TO SURPASS OTHER APPLICATION SEGMENTS BETWEEN 2023 TO 2028	50 
FIGURE 13	ASIA PACIFIC HELD LARGEST MARKET SHARE IN 2022	51 
3.1	BATTERY MANAGEMENT SYSTEM MARKET: IMPACT OF RECESSION	52 
FIGURE 14	GDP GROWTH PROJECTION TILL 2023 FOR MAJOR ECONOMIES	52 
FIGURE 15	IMPACT OF RECESSION ON BATTERY MANAGEMENT SYSTEM MARKET	53 
4	PREMIUM INSIGHTS	54 
4.1	ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN BATTERY MANAGEMENT SYSTEM MARKET	54 
FIGURE 16	GROWING ELECTRIC VEHICLE MARKET TO FUEL DEMAND FOR BATTERY MANAGEMENT SYSTEMS DURING FORECAST PERIOD	54 
4.2	BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE	54 
FIGURE 17	MOTIVE BATTERIES TO ACCOUNT FOR LARGEST MARKET SHARE BY 2028	54 
4.3	BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE	55 
FIGURE 18	LITHIUM-ION TO SURPASS OTHER BATTERY TYPE SEGMENTS DURING FORECAST PERIOD	55 
4.4	BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY	55 
FIGURE 19	MODULAR SEGMENT TO COMMAND LEADING POSITION BETWEEN 2023 TO 2028	55 
4.5	BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION	56 
FIGURE 20	AUTOMOTIVE TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD	56 
4.6	BATTERY MANAGEMENT SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY AND APPLICATION	56 
FIGURE 21	AUTOMOTIVE AND US TO BE LARGEST SHAREHOLDERS IN NORTH AMERICA	56 
4.7	BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY	57 
FIGURE 22	CHINA AND GERMANY TO EXHIBIT HIGHEST CAGR IN BATTERY MANAGEMENT SYSTEM MARKET BY 2028	57 
5	MARKET OVERVIEW	58 
5.1	INTRODUCTION	58 
5.2	MARKET DYNAMICS	58 
FIGURE 23	BATTERY MANAGEMENT SYSTEM MARKET DYNAMICS	58 
5.2.1	DRIVERS	59 
5.2.1.1	Growing penetration of electric vehicles	59 
FIGURE 24	ELECTRIC VEHICLE STOCK, BY COUNTRY/REGION, 2010–2020 (MILLION UNITS)	59 
5.2.1.2	High demand for battery monitoring solutions in renewable energy sector	60 
5.2.1.3	Need for effective power grid management	60 
FIGURE 25	BATTERY MANAGEMENT SYSTEM MARKET: IMPACT OF DRIVERS	61 
5.2.2	RESTRAINTS	61 
5.2.2.1	Lack of standardization in battery management solutions	61 
FIGURE 26	BATTERY MANAGEMENT SYSTEM MARKET: IMPACT OF RESTRAINTS	61 
5.2.3	OPPORTUNITIES	62 
5.2.3.1	Increasing electrification of public transportation	62 
5.2.3.2	Rising demand from data centers	62 
5.2.3.3	Supportive government initiatives for electric vehicles	63 
5.2.3.4	Advantages of wireless battery management systems	63 
FIGURE 27	BATTERY MANAGEMENT SYSTEM MARKET: IMPACT OF OPPORTUNITIES	64 
5.2.4	CHALLENGES	64 
5.2.4.1	Complex designing process	64 
5.2.4.2	Impact of external factors on performance	64 
FIGURE 28	BATTERY MANAGEMENT SYSTEM MARKET: IMPACT OF CHALLENGES	65 
5.3	VALUE CHAIN ANALYSIS	65 
FIGURE 29	VALUE CHAIN ANALYSIS	65 
5.4	ECOSYSTEM ANALYSIS	66 
FIGURE 30	ECOSYSTEM ANALYSIS	66 
TABLE 1	BATTERY MANAGEMENT SYSTEM MARKET ECOSYSTEM	66 
5.5	PRICING ANALYSIS	67 
FIGURE 31	AVERAGE SELLING PRICE OF BATTERY MANAGEMENT SYSTEMS (USD)	68 
TABLE 2	AVERAGE SELLING PRICE OF BATTERY MANAGEMENT SYSTEMS (USD)	69 
5.6	TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESSES	69 
FIGURE 32	REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN BATTERY MANAGEMENT SYSTEM MARKET	69 
5.7	TECHNOLOGY ANALYSIS	70 
5.7.1	ARTIFICIAL INTELLIGENCE	70 
5.7.2	DIGITAL TWIN	70 
5.8	PORTER’S FIVE FORCES ANALYSIS	70 
TABLE 3	BATTERY MANAGEMENT SYSTEM MARKET: PORTER’S FIVE FORCES, 2022	70 
5.9	KEY STAKEHOLDERS AND BUYING CRITERIA	71 
5.9.1	KEY STAKEHOLDERS IN BUYING PROCESS	71 
FIGURE 33	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS	71 
TABLE 4	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS (%)	72 
5.9.2	BUYING CRITERIA	72 
FIGURE 34	KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS	72 
TABLE 5	KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS	72 
5.10	CASE STUDY ANALYSIS	73 
TABLE 6	CASE STUDY 1: STATE-OF-THE-ART PRT SYSTEM TO TACKLE PUBLIC TRANSPORT ISSUES	73 
TABLE 7	CASE STUDY 2: LEAD BATTERIES AND BATTERY MANAGEMENT SYSTEMS TO MANAGE MICROGRID	73 
TABLE 8	CASE STUDY 3: DESIGNING RELIABLE BATTERY MANAGEMENT SYSTEMS TO OVERCOME COMMON ERRORS	73 
5.11	TRADE ANALYSIS	74 
FIGURE 35	IMPORT OF LITHIUM CELLS AND BATTERIES, BY COUNTRY, 2017–2021 (USD MILLION)	74 
FIGURE 36	EXPORT OF LITHIUM CELLS AND BATTERIES, BY COUNTRY, 2017–2021 (USD MILLION)	74 
5.12	PATENT ANALYSIS	75 
FIGURE 37	COMPANIES WITH MAXIMUM PATENT APPLICATIONS	75 
TABLE 9	TOP 20 PATENT OWNERS IN US	75 
FIGURE 38	NUMBER OF PATENTS GRANTED PER YEAR, 2012–2021	76 
TABLE 10	BATTERY MANAGEMENT SYSTEM MARKET: PATENTS, 2021–2022	76 
5.13	KEY CONFERENCES AND EVENTS, 2022–2024	77 
TABLE 11	BATTERY MANAGEMENT SYSTEM MARKET: CONFERENCES AND EVENTS, 2022–2024	77 
5.14	REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	79 
TABLE 12	NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	79 
TABLE 13	EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	79 
TABLE 14	ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	80 
TABLE 15	ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	80 
5.15	REGULATORY LANDSCAPE	81 
TABLE 16	STANDARDS RELATED TO BATTERY MANAGEMENT SYSTEMS	81 
6	BATTERY MANAGEMENT SYSTEM, BY COMPONENT	82 
6.1	INTRODUCTION	82 
FIGURE 39	BATTERY MANAGEMENT SYSTEM MARKET, BY COMPONENT	82 
6.2	HARDWARE	82 
6.2.1	BATTERY CONTROL UNITS	82 
6.2.2	POWER MANAGEMENT COMPONENTS	83 
6.2.3	COMMUNICATION COMPONENTS	83 
6.3	SOFTWARE	84 
  
7	BATTERY MANAGEMENT SYSTEM MARKET, BY SYSTEM TYPE	85 
7.1	INTRODUCTION	85 
FIGURE 40	BATTERY MANAGEMENT SYSTEM MARKET, BY SYSTEM TYPE	85 
7.2	STANDALONE BMS	85 
7.3	INTEGRATED BMS	85 
8	BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE	86 
8.1	INTRODUCTION	87 
FIGURE 41	BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE	87 
FIGURE 42	MOTIVE BATTERIES TO ACQUIRE HIGHEST SHARE DURING FORECAST PERIOD	87 
TABLE 17	BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2019–2022 (USD MILLION)	88 
TABLE 18	BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2023–2028 (USD MILLION)	88 
8.2	MOTIVE BATTERIES	88 
8.2.1	INCREASING DEMAND FROM AUTOMOTIVE SECTOR	88 
TABLE 19	MOTIVE BATTERIES: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	89 
TABLE 20	MOTIVE BATTERIES: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	89 
8.3	STATIONARY BATTERIES	89 
8.3.1	WIDESCALE USE IN ENERGY STORAGE APPLICATIONS	89 
TABLE 21	STATIONARY BATTERIES: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	90 
TABLE 22	STATIONARY BATTERIES: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	90 
9	BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE	91 
9.1	INTRODUCTION	92 
FIGURE 43	BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE	92 
FIGURE 44	LITHIUM-ION TO HOLD LARGEST MARKET DURING FORECAST PERIOD	93 
TABLE 23	BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION)	93 
TABLE 24	BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION)	93 
9.2	LITHIUM-ION	94 
9.2.1	GROWING POPULARITY OF ELECTRIC VEHICLES WORLDWIDE	94 
TABLE 25	COMPARISON: LITHIUM-ION BATTERIES VS. LEAD-ACID BATTERIES	95 
FIGURE 45	BEV AND PHEV SALES, BY REGION/COUNTRY, 2020–2021 (THOUSAND UNITS)	95 
TABLE 26	LITHIUM-ION: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	96 
TABLE 27	LITHIUM-ION: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	96 
  
9.3	LEAD-ACID	96 
9.3.1	HIGH DEMAND FROM RENEWABLE ENERGY SECTOR	96 
TABLE 28	LEAD-ACID: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	97 
TABLE 29	LEAD-ACID: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	97 
9.4	NICKEL-BASED	98 
9.4.1	EXTENSIVE USE IN AUTOMOTIVE SECTOR	98 
TABLE 30	NICKEL-BASED: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	98 
TABLE 31	NICKEL-BASED: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	99 
9.5	OTHER BATTERIES	99 
9.5.1	SOLID-STATE BATTERIES	99 
9.5.1.1	Heavy investments by automakers	99 
9.5.2	FLOW BATTERIES	99 
9.5.2.1	Use in high-energy storage applications	99 
TABLE 32	OTHER BATTERIES: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	100 
TABLE 33	OTHER BATTERIES: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	100 
10	BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY	101 
10.1	INTRODUCTION	102 
FIGURE 46	BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY	102 
FIGURE 47	MODULAR TOPOLOGY TO HOLD LARGEST MARKET FROM 2023 TO 2028	102 
TABLE 34	BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)	103 
TABLE 35	BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)	103 
10.2	MODULAR	103 
10.2.1	SUPERIOR COMPUTATIONAL POWER AND ENHANCED SAFETY	103 
TABLE 36	MODULAR TOPOLOGY: ADVANTAGES AND DISADVANTAGES	103 
FIGURE 48	TYPICAL STRUCTURE OF MODULAR BATTERY MANAGEMENT SYSTEM	104 
TABLE 37	MODULAR: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)	104 
TABLE 38	MODULAR: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	105 
TABLE 39	MODULAR: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	105 
TABLE 40	MODULAR: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	105 
10.3	CENTRALIZED	106 
10.3.1	USE IN MEDIUM POWER APPLICATIONS	106 
TABLE 41	CENTRALIZED TOPOLOGY: ADVANTAGES AND DISADVANTAGES	106 
FIGURE 49	TYPICAL STRUCTURE OF CENTRALIZED BATTERY MANAGEMENT SYSTEM	106 
TABLE 42	CENTRALIZED: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)	107 
TABLE 43	CENTRALIZED: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	107 
TABLE 44	CENTRALIZED: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	107 
TABLE 45	CENTRALIZED: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	108 
10.4	DISTRIBUTED	108 
10.4.1	SIMPLE DESIGN AND HIGH RELIABILITY	108 
TABLE 46	DISTRIBUTED TOPOLOGY: ADVANTAGES AND DISADVANTAGES	108 
FIGURE 50	TYPICAL STRUCTURE OF DISTRIBUTED BATTERY MANAGEMENT SYSTEM	109 
TABLE 47	DISTRIBUTED: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)	109 
TABLE 48	DISTRIBUTED: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	110 
TABLE 49	DISTRIBUTED: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	110 
TABLE 50	DISTRIBUTED: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	110 
11	BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION	111 
11.1	INTRODUCTION	112 
FIGURE 51	BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION	112 
FIGURE 52	AUTOMOTIVE TO SURPASS OTHER APPLICATION SEGMENTS BY 2028	113 
TABLE 51	BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)	113 
TABLE 52	BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	113 
11.2	AUTOMOTIVE	114 
11.2.1	GROWING PREFERENCE FOR ELECTRIC VEHICLES	114 
FIGURE 53	GLOBAL EV OUTLOOK, 2020–2030 (MILLION UNITS)	114 
11.2.1.1	Passenger vehicles	115 
11.2.1.1.1	Battery electric vehicles	115 
11.2.1.1.2	Plug-in hybrid electric vehicles	115 
11.2.1.2	Commercial vehicles	116 
11.2.1.3	Other vehicles	116 
TABLE 53	AUTOMOTIVE: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)	116 
TABLE 54	AUTOMOTIVE: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)	117 
TABLE 55	AUTOMOTIVE: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	117 
TABLE 56	AUTOMOTIVE: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	117 
  
11.3	INDUSTRIAL	118 
11.3.1	INCREASED DEMAND FOR ELECTRIC-POWERED EQUIPMENT	118 
TABLE 57	INDUSTRIAL: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)	118 
TABLE 58	INDUSTRIAL: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)	119 
TABLE 59	INDUSTRIAL: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	119 
TABLE 60	INDUSTRIAL: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	119 
11.4	RENEWABLE ENERGY	120 
11.4.1	HIGH ADOPTION OF RENEWABLE ENERGY SOURCES	120 
TABLE 61	TOP 10 COUNTRIES BY TOTAL INSTALLED PV CAPACITY, 2021	120 
TABLE 62	RENEWABLE ENERGY: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)	121 
TABLE 63	RENEWABLE ENERGY: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)	121 
TABLE 64	RENEWABLE ENERGY: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	121 
TABLE 65	RENEWABLE ENERGY: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	122 
11.5	TELECOMMUNICATIONS	122 
11.5.1	INCREASED INVESTMENTS BY REGIONAL AUTHORITIES	122 
TABLE 66	TELECOMMUNICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)	122 
TABLE 67	TELECOMMUNICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)	123 
TABLE 68	TELECOMMUNICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	123 
TABLE 69	TELECOMMUNICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	123 
11.6	MILITARY & DEFENSE	124 
11.6.1	NEED FOR RELIABLE AND UNINTERRUPTED POWER	124 
TABLE 70	MILITARY & DEFENSE: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)	124 
TABLE 71	MILITARY & DEFENSE: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)	124 
TABLE 72	MILITARY & DEFENSE: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	125 
TABLE 73	MILITARY & DEFENSE: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	125 
11.7	OTHER APPLICATIONS	125 
TABLE 74	OTHER APPLICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)	126 
TABLE 75	OTHER APPLICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)	126 
TABLE 76	OTHER APPLICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	127 
TABLE 77	OTHER APPLICATIONS: BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	127 
12	BATTERY MANAGEMENT SYSTEM MARKET, BY REGION	128 
12.1	INTRODUCTION	129 
FIGURE 54	BATTERY MANAGEMENT SYSTEM MARKET, BY REGION	129 
FIGURE 55	GERMANY AND CHINA TO BE HIGHEST-GROWING MARKETS FOR BATTERY MANAGEMENT SYSTEMS BY 2028	129 
TABLE 78	BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2019–2022 (USD MILLION)	130 
TABLE 79	BATTERY MANAGEMENT SYSTEM MARKET, BY REGION, 2023–2028 (USD MILLION)	130 
12.2	NORTH AMERICA	130 
FIGURE 56	NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET SNAPSHOT	131 
FIGURE 57	US TO ACQUIRE LARGEST MARKET SHARE IN NORTH AMERICA BY 2028	132 
TABLE 80	NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2019–2022 (USD MILLION)	132 
TABLE 81	NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	132 
TABLE 82	NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2019–2022 (USD MILLION)	133 
TABLE 83	NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2023–2028 (USD MILLION)	133 
TABLE 84	NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION)	133 
TABLE 85	NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION)	133 
TABLE 86	NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)	134 
TABLE 87	NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)	134 
TABLE 88	NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)	134 
TABLE 89	NORTH AMERICA: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	135 
12.2.1	US	135 
12.2.1.1	Increased investments in battery manufacturing	135 
12.2.2	CANADA	136 
12.2.2.1	Focus on strengthening battery supply chain	136 
12.2.3	MEXICO	136 
12.2.3.1	Growth in manufacturing industry	136 
12.3	EUROPE	137 
FIGURE 58	EUROPE: BATTERY MANAGEMENT SYSTEM MARKET SNAPSHOT	138 
FIGURE 59	GERMANY TO SURPASS OTHER EUROPEAN REGIONS IN BATTERY MANAGEMENT SYSTEM MARKET	139 
TABLE 90	EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2019–2022 (USD MILLION)	139 
TABLE 91	EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	139 
TABLE 92	EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2019–2022 (USD MILLION)	140 
TABLE 93	EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2023–2028 (USD MILLION)	140 
TABLE 94	EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION)	140 
TABLE 95	EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION)	140 
TABLE 96	EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)	141 
TABLE 97	EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)	141 
TABLE 98	EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)	141 
TABLE 99	EUROPE: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	142 
12.3.1	GERMANY	142 
12.3.1.1	Presence of prominent automakers	142 
12.3.2	FRANCE	142 
12.3.2.1	Favorable government initiatives and investments	142 
12.3.3	UK	143 
12.3.3.1	Focus on transportation electrification	143 
12.3.4	REST OF EUROPE	143 
12.4	ASIA PACIFIC	144 
FIGURE 60	ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET SNAPSHOT	145 
FIGURE 61	CHINA TO OWN LEADING MARKET POSITION DURING FORECAST PERIOD	146 
TABLE 100	ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2019–2022 (USD MILLION)	146 
TABLE 101	ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	146 
TABLE 102	ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2019–2022 (USD MILLION)	147 
TABLE 103	ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2023–2028 (USD MILLION)	147 
TABLE 104	ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION)	147 
TABLE 105	ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION)	147 
TABLE 106	ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)	148 
TABLE 107	ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)	148 
TABLE 108	ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)	148 
TABLE 109	ASIA PACIFIC: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	149 
12.4.1	CHINA	149 
12.4.1.1	High demand for electric vehicles	149 
12.4.2	JAPAN	150 
12.4.2.1	Largescale domestic battery production	150 
12.4.3	INDIA	150 
12.4.3.1	Advances in electric vehicle market	150 
12.4.4	SOUTH KOREA	151 
12.4.4.1	Government subsidies for EV and battery manufacturers	151 
12.4.5	REST OF ASIA PACIFIC	151 
12.5	ROW	152 
FIGURE 62	SOUTH AMERICA TO COMMAND MAXIMUM SHARE OF ROW DURING FORECAST PERIOD	152 
TABLE 110	ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2019–2022 (USD MILLION)	153 
TABLE 111	ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	153 
TABLE 112	ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2019–2022 (USD MILLION)	153 
TABLE 113	ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY TYPE, 2023–2028 (USD MILLION)	153 
TABLE 114	ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2019–2022 (USD MILLION)	154 
TABLE 115	ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE, 2023–2028 (USD MILLION)	154 
TABLE 116	ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2019–2022 (USD MILLION)	154 
TABLE 117	ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY, 2023–2028 (USD MILLION)	155 
TABLE 118	ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2019–2022 (USD MILLION)	155 
TABLE 119	ROW: BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	155 
12.5.1	MIDDLE EAST	156 
12.5.1.1	Increased funding in renewable energy sources	156 
12.5.2	AFRICA	156 
12.5.2.1	Largescale lithium reserves	156 
12.5.3	SOUTH AMERICA	157 
12.5.3.1	Presence of developing economies	157 
  
13	COMPETITIVE LANDSCAPE	158 
13.1	INTRODUCTION	158 
13.2	KEY PLAYER STRATEGIES	158 
TABLE 120	STRATEGIES ADOPTED BY KEY PLAYERS IN BATTERY MANAGEMENT SYSTEM MARKET	158 
13.3	TOP FIVE COMPANY REVENUE ANALYSIS	160 
FIGURE 63	BATTERY MANAGEMENT SYSTEM MARKET: REVENUE ANALYSIS OF FIVE KEY PLAYERS, 2017–2021	160 
13.4	MARKET SHARE ANALYSIS, 2022	161 
TABLE 121	BATTERY MANAGEMENT SYSTEM MARKET SHARE ANALYSIS (2022)	161 
13.5	COMPANY EVALUATION QUADRANT, 2022	162 
13.5.1	STARS	162 
13.5.2	EMERGING LEADERS	162 
13.5.3	PERVASIVE PLAYERS	162 
13.5.4	PARTICIPANTS	162 
FIGURE 64	BATTERY MANAGEMENT SYSTEM MARKET: COMPANY EVALUATION QUADRANT, 2022	163 
13.6	SMALL AND MEDIUM ENTERPRISES EVALUATION QUADRANT, 2022	164 
13.6.1	PROGRESSIVE COMPANIES	164 
13.6.2	RESPONSIVE COMPANIES	164 
13.6.3	DYNAMIC COMPANIES	164 
13.6.4	STARTING BLOCKS	164 
FIGURE 65	BATTERY MANAGEMENT SYSTEM MARKET, SME EVALUATION QUADRANT, 2022	165 
13.7	BATTERY MANAGEMENT SYSTEM MARKET: COMPANY FOOTPRINT	166 
TABLE 122	BATTERY MANAGEMENT SYSTEM MARKET: COMPANY FOOTPRINT, 2022	166 
TABLE 123	BATTERY MANAGEMENT SYSTEM MARKET: APPLICATION FOOTPRINT, 2022	167 
TABLE 124	BATTERY MANAGEMENT SYSTEM MARKET: REGIONAL FOOTPRINT, 2022	168 
13.8	COMPETITIVE BENCHMARKING	169 
TABLE 125	BATTERY MANAGEMENT SYSTEM MARKET: KEY STARTUPS/SMES	169 
TABLE 126	BATTERY MANAGEMENT SYSTEM MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES	170 
13.9	COMPETITIVE SCENARIO	170 
13.9.1	PRODUCT LAUNCHES	170 
13.9.2	DEALS	172 
  
14	COMPANY PROFILES	174 
14.1	KEY PLAYERS	174 
(Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)* 
14.1.1	EBERSPÄCHER	174 
TABLE 127	EBERSPÄCHER: BUSINESS OVERVIEW	174 
FIGURE 66	EBERSPÄCHER: COMPANY SNAPSHOT	175 
TABLE 128	EBERSPÄCHER: PRODUCTS OFFERED	175 
14.1.2	PANASONIC HOLDINGS CORPORATION	177 
TABLE 129	PANASONIC HOLDINGS CORPORATION: BUSINESS OVERVIEW	177 
FIGURE 67	PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT	178 
TABLE 130	PANASONIC HOLDINGS CORPORATION: PRODUCTS OFFERED	178 
TABLE 131	PANASONIC HOLDINGS CORPORATION: PRODUCT LAUNCHES	179 
14.1.3	RENESAS ELECTRONICS CORPORATION	180 
TABLE 132	RENESAS ELECTRONICS CORPORATION: BUSINESS OVERVIEW	180 
FIGURE 68	RENESAS ELECTRONICS CORPORATION: COMPANY SNAPSHOT	181 
TABLE 133	RENESAS ELECTRONICS CORPORATION: PRODUCTS OFFERED	181 
TABLE 134	RENESAS ELECTRONICS CORPORATION: PRODUCT LAUNCHES	182 
14.1.4	SENSATA TECHNOLOGIES, INC.	183 
TABLE 135	SENSATA TECHNOLOGIES, INC.: BUSINESS OVERVIEW	183 
FIGURE 69	SENSATA TECHNOLOGIES, INC.: COMPANY SNAPSHOT	184 
TABLE 136	SENSATA TECHNOLOGIES, INC.: PRODUCTS OFFERED	184 
TABLE 137	SENSATA TECHNOLOGIES, INC.: PRODUCT LAUNCHES	185 
TABLE 138	SENSATA TECHNOLOGIES, INC.: DEALS	185 
14.1.5	TEXAS INSTRUMENTS	187 
TABLE 139	TEXAS INSTRUMENTS: BUSINESS OVERVIEW	187 
FIGURE 70	TEXAS INSTRUMENTS: COMPANY SNAPSHOT	188 
TABLE 140	TEXAS INSTRUMENTS: PRODUCTS OFFERED	188 
TABLE 141	TEXAS INSTRUMENTS: PRODUCT LAUNCHES	189 
14.1.6	ANALOG DEVICES, INC.	190 
TABLE 142	ANALOG DEVICES, INC.: BUSINESS OVERVIEW	190 
FIGURE 71	ANALOG DEVICES, INC.: COMPANY SNAPSHOT	191 
TABLE 143	ANALOG DEVICES, INC.: PRODUCTS OFFERED	191 
TABLE 144	ANALOG DEVICES, INC.: PRODUCT LAUNCHES	192 
14.1.7	INFINEON TECHNOLOGIES AG	193 
TABLE 145	INFINEON TECHNOLOGIES AG: BUSINESS OVERVIEW	193 
FIGURE 72	INFINEON TECHNOLOGIES AG: COMPANY SNAPSHOT	194 
TABLE 146	INFINEON TECHNOLOGIES AG: PRODUCTS OFFERED	194 
TABLE 147	INFINEON TECHNOLOGIES AG: PRODUCT LAUNCHES	195 
TABLE 148	INFINEON TECHNOLOGIES AG: DEALS	195 
14.1.8	LG ENERGY SOLUTION, LTD.	196 
TABLE 149	LG ENERGY SOLUTION, LTD.: BUSINESS OVERVIEW	196 
FIGURE 73	LG ENERGY SOLUTION, LTD.: COMPANY SNAPSHOT	196 
TABLE 150	LG ENERGY SOLUTION, LTD.: PRODUCTS OFFERED	197 
TABLE 151	LG ENERGY SOLUTION, LTD.: DEALS	197 
14.1.9	NXP SEMICONDUCTORS N.V.	198 
TABLE 152	NXP SEMICONDUCTORS N.V.: BUSINESS OVERVIEW	198 
FIGURE 74	NXP SEMICONDUCTORS N.V.: COMPANY SNAPSHOT	199 
TABLE 153	NXP SEMICONDUCTORS N.V.: PRODUCTS OFFERED	199 
TABLE 154	NXP SEMICONDUCTORS N.V.: PRODUCT LAUNCHES	200 
TABLE 155	NXP SEMICONDUCTORS N.V.: DEALS	201 
14.1.10	STMICROELECTRONICS	202 
TABLE 156	STMICROELECTRONICS: BUSINESS OVERVIEW	202 
FIGURE 75	STMICROELECTRONICS: COMPANY SNAPSHOT	203 
TABLE 157	STMICROELECTRONICS: PRODUCTS OFFERED	204 
*Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments might not be captured in case of unlisted companies. 
14.2	OTHER IMPORTANT PLAYERS	205 
14.2.1	CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED	205 
14.2.2	BYD COMPANY LIMITED	206 
14.2.3	SK INNOVATION CO., LTD.	207 
14.3	OTHER PLAYERS	208 
14.3.1	AMP	208 
14.3.2	AVL LIST GMBH	209 
14.3.3	BMS POWERSAFE	210 
14.3.4	ELITHION, INC.	211 
14.3.5	EWERT ENERGY SYSTEMS, INC.	212 
14.3.6	EXPONENTIAL POWER, INC.	212 
14.3.7	FICOSA GROUP	213 
14.3.8	FUTAVIS GMBH	213 
14.3.9	HANGZHOU XIENENG TECHNOLOGY CO., LTD.	214 
14.3.10	LECLANCHE SA	215 
14.3.11	NUVATION ENGINEERING	216 
14.3.12	POWERTECH SYSTEMS	217 
14.3.13	RICARDO	217 
14.3.14	ROBOTEQ	218 
14.3.15	TRONICO	219 
14.3.16	XING MOBILITY	220 
15	ADJACENT AND RELATED MARKETS	221 
15.1	INTRODUCTION	221 
15.2	BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION	221 
TABLE 158	BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION)	221 
TABLE 159	BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION)	222 
  
15.3	NORTH AMERICA	223 
15.3.1	US	223 
15.3.1.1	Increasing adoption of large-scale battery storage systems in power grids	223 
15.3.2	CANADA	224 
15.3.2.1	Growing focus on advancements in battery energy storage technology	224 
15.3.3	MEXICO	224 
15.3.3.1	Rising demand for electricity	224 
16	APPENDIX	226 
16.1	INSIGHTS FROM INDUSTRY EXPERTS	226 
16.2	DISCUSSION GUIDE	227 
16.3	KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL	231 
16.4	CUSTOMIZATION OPTIONS	233 
16.5	RELATED REPORTS	233 
16.6	AUTHOR DETAILS	234 
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