Battery Monitoring System Market 2019 | Top Leaders, Business Opportunities, Growth Factor, Key Players Analysis, Global Size, Share and Industry Expansion Strategies Till 2023

Battery Monitoring System Market 2019 | Top Leaders, Business Opportunities, Growth Factor, Key Players Analysis, Global Size, Share and Industry Expansion Strategies Till 2023

Battery Monitoring System Market
Market Research Future (MRFR) reports that the global battery monitoring system market is set to demonstrate a CAGR of 18.20% CAGR during the forecast period (2018-2023). Battery Monitoring System Market Research Report Information Segmented by Type (Wired & Wireless), Component (Hardware, and Software and Services), Battery Type (Lithium-Ion & Lead-Acid), End-User (Energy, Telecommunications, Industries) and Regions – Forecast till 2023

Global Battery Monitoring System Market Analysis

Battery monitoring systems are gaining momentum on account of the increasing adoption of renewable energy that needs effective storage. Battery monitoring systems find a wide range of application in different industries. They are key a tool that helps is avoiding costly downtime due to unexpected battery failure. Technological advancements have led to introduction of more efficient systems that offer real time monitoring and subsequently help in improving battery life and reducing replacement cost and maintenance cost.

The growing demand for battery monitoring is attributed to the rising demand of electric vehicles. Moreover, preventing operational efficiency of batteries is also driving the market for battery monitoring system. One of the major restraints of the global battery monitoring system is high cost of battery monitoring systems, especially for large battery solutions.

Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/6985

Battery monitoring system is an integral part of the entire battery management system. It ensures the optimal usage of energy inside the battery which is providing power to an equipment. The main functions of battery monitoring system include providing real-time monitoring, preventing costly downtime, maximizing battery life, reducing maintenance & replacement cost, and enhancing safety and security of the critical battery backup system.   

Moreover, stricter safety regulations and importance of managing battery backup system is influencing the adoption rate. The growing industrial application of battery monitoring remains a positive indication for market player. The automotive sector, especially the electric and hybrid segment also presents attractive market opportunities. Such factors are expected to propel the market during the projection period.

Competition Analysis:

  • NDSL (India),
  • HBL (India),
  • ABB (Switzerland),
  • Eagle Eye (US),
  • Embitel (India),
  • Schneider Electric (France),
  • Texas Instruments (US),
  • Canara (US),
  • SBS (US),
  • Batterydaq (US),
  • Powershield (New Zealand),
  • Curtis (US) and
  • Btech (US).

Global Battery Monitoring System Market: Segmental Analysis

The segmental analysis of the Battery Monitoring System Market has been conducted on the basis of component, battery type, type, and end-user.

On the basis of type, the market has been segmented into wireless battery monitoring system and wired battery monitoring system. The wired segment is expected to remain highly lucrative during the assessment period. Most of the existing battery monitoring systems are used wired components. Nevertheless, the wireless battery monitoring systems are likely to gain traction in the forthcoming years. Wireless variants come with the convenience of remote monitoring of all operations.

On the basis of battery type, the market has been segmented into lithium-ion and lead-acid. The former will continue to outperform the later throughout the assessment period. Lithium-ion batteries have become the preferred option in many end-use segments including power tools, backup power and hybrid & electric vehicles.

On the basis of component, the market has been segmented into software & service and hardware. The hardware segment covers data recorders, controllers, sensors, and communication networks among others. The hardware segment currently represents the larger share of the market in terms of value. The segment is likely to retain its leading position over 2023. Battery monitoring hardware components have undergone tremendous technological advancements across various fronts include installation, high-resolution data recoding capabilities, wiring etc.

On the basis of end-use, the market has been segmented into telecommunications, energy and others.

Regional Analysis

North America is expected to remain an important market for battery monitoring systems over the next couple of years. The market growth in the region is supported by growing number data centres and adoption of renewable power generation systems. The growth of hybrid electric vehicle industries is also propelling the market forward. Opportunities are arising from increased adoption in end use sectors in countries such as the U.S. and Canada.  The data released by CBRE reveals that in North America, nearly USD 20 Bn was invested towards development of data centres in 2017. The countries that are mentioned above are highly active in investments towards end use market. The government in Canada has committed nearly 1.5 Bn in wind energy projects.  Such investments have augured well for market players operating in the region. The application scope has continued to grow in the region over time.

Access Full Report at: https://www.marketresearchfuture.com/reports/battery-monitoring-system-market-6985

Table Of Contents

1. Executive Summary

2. Scope Of The Report

2.1. Market Definition

2.2. Scope Of The Study

2.3. Research Process

2.4. Market Size Estimation

2.5. Forecast Model

3. Market Landscape

3.1. Porter’s Five Forces Analysis

3.2. Value Chain/Supply Chain Analysis

4. Market Dynamics

4.1. Introduction

4.2. Market Drivers

4.3. Market Restraints

4.4. Market Opportunities

4.5. Market Trends

5. Global Battery Monitoring System Market, By Type

5.1. Introduction

5.2. Wired Battery Monitoring System

5.3. Wireless Battery Monitoring System

6. Global Battery Monitoring System Market, By Component

6.1. Introduction

6.2. Hardware

6.3. Software & Services

7. Global Battery Monitoring System Market, By Battery Type

7.1. Introduction

7.2. Lithium-Ion Based Battery

7.3. Lead-Acid Battery

8. Global Battery Monitoring System Market, By End-User

8.1. Introduction

8.2. Energy

8.3. Telecommunications

8.4. Automotive

Continued…..

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/battery-monitoring-system-market-6985