DUBLIN, March 23, 2018 /PRNewswire/ --
The "Battery Monitoring System Market by Component (Hardware, Software), Type (Wired, Wireless), Battery Type (Lithium-Ion Based, Lead-Acid), End-User (Telecommunications, Automotive, Energy, Industries), and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The global battery monitoring system market is projected to grow at a CAGR of 18.23%, during the forecast period, to reach a market size of USD 5.47 Billion by 2022, from an estimated USD 2.37 Billion in 2017.
Market growth can be attributed to rising investments in data centers and growing renewable power generation globally. The increased operational efficiency of batteries and rising demand for electric vehicles are expected to boost the demand for battery monitoring systems.
The report segments the battery monitoring system market, by type, into wired and wireless. The wired segment is expected to lead the battery monitoring system market during the forecast period. The wireless segment is projected to grow at the fastest rate during the forecast period as wireless systems enable remote monitoring of operations as all the operations can be monitored from a central location.
The hardware segment of the battery monitoring system market, by component, accounted for the largest market size in 2016. Hardware components include the physical components involved in a battery monitoring system, such as sensors, hub, controller, data loggers, data recorders, and communication networks. The simple installation, fast data sampling, reduced cabling, and high-resolution data recording capabilities of these components have led to the growth of the hardware segment of the battery monitoring system market.
Based on battery type, the battery monitoring system market has been segmented into lithium-ion based, lead-acid, and others. The others segment includes nickel-based and flow batteries. The lithium-ion based segment is estimated to hold the largest share of battery monitoring system market in 2017 due to the increasing deployment of lithium-ion batteries in electric vehicles, power tools, and battery backup applications. This segment is expected to grow at the highest CAGR, from 2017 to 2022, due to the increasing electric vehicle sales, wherein lithium-ion batteries are deployed.
The leading players in the battery monitoring system market include NDSL (UK), Texas Instruments (US), PowerShield (New Zealand), BatteryDAQ (US), Canara (US), and Eagle Eye (US).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Battery Monitoring System Market, By Country
4.2 Battery Monitoring System Market, By Component
4.3 Battery Monitoring System Market, By Type
4.4 Battery Monitoring System Market, By Battery Type
4.5 Battery Monitoring System Market, By End-User
4.6 North America Battery Monitoring System Market, By Country and Battery Type
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Preventing Unplanned Outages
5.2.1.2 Increased Operational Efficiency of Batteries
5.2.1.3 Rising Demand for Electric Vehicles
5.2.2 Restraints
5.2.2.1 High Cost of Battery Monitoring Systems for Larger Battery Solutions
5.2.3 Opportunities
5.2.3.1 Rising Demand for Battery Monitoring Systems for Datacenter Applications
5.2.3.2 Increasing Renewable Power Generation
5.2.4 Challenges
5.2.4.1 Presence of A Large Number of Local and Regional Players
6 Battery Monitoring System Market, By Component
6.1 Introduction
6.2 Hardware
6.3 Software
7 Battery Monitoring System Market, By Type
7.1 Introduction
7.2 Wired Battery Monitoring System
7.3 Wireless Battery Monitoring System
8 Battery Monitoring System Market, By Battery Type
8.1 Introduction
8.2 Lithium-Ion Based Battery
8.3 Lead-Acid Battery
8.4 Others
9 Battery Monitoring System Market, By End-User
9.1 Introduction
9.2 Telecommunications
9.3 Energy
9.4 Automotive
9.5 Industries
9.6 Others
10 Battery Monitoring System Market, By Region
11 Competitive Landscape
11.1 Overview
11.2 Ranking of Players Analysis
11.3 Competitive Scenario
11.3.1 Contracts & Agreements
11.3.2 New Product Launches
11.3.3 Investments & Expansions
11.3.4 Partnerships
12 Company Profiles
- ABB
- Batterydaq
- Btech
- Canara
- Curtis
- Eagle Eye
- HBL
- NDSL
- Powershield
- SBS
- Schneider Electric
- Socomec
- Texas Instruments
For more information about this report visit https://www.researchandmarkets.com/research/4kw8m7/global_battery?w=5
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SOURCE Research and Markets