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Battery Monitoring Systems Market by End-user and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 148
  • SKU: IRTNTR43279
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The predicted growth for the battery monitoring systems market share from 2021 to 2026 is USD 9.48 billion at a progressing CAGR of 21.87%.

This battery monitoring systems market forecast report extensively covers segmentations by:

  • End-user - Automotive, energy, and telecom and data center
  • Geography - APAC, North America, Europe, South America, and Middle East and Africa

The battery monitoring systems market report offers information on several market vendors, including ABB Ltd., Analog Devices Inc., BMS Powersafe, C and D Technologies Inc., Crucial Power Products, Curtis Instruments Inc., Eberspaecher Vecture Inc., Elithion Inc., General Electric Co., HBL Power Systems Ltd, Infineon Technologies AG, Johnson Matthey Plc, Lithium Balance AS, Lithium Werks, NXP Semiconductors NV, Raytheon Technologies Corp., Renesas Electronics Corp., Schneider Electric SE, Texas Instruments Inc., and Vertiv Holdings Co. among others. Furthermore, our analysts have provided valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches for the coming years.

What will the Battery Monitoring Systems Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Battery Monitoring Systems Market Size for the Forecast Period and Other Important Statistics

 

Battery Monitoring Systems Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The advances in EV battery and associated technologies is notably driving the battery monitoring systems market growth, although factors such as the demand-supply gap of battery components may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the battery monitoring systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Battery Monitoring Systems Market Driver

  • The advances in EV battery and associated technologies is one of the key drivers fueling the battery monitoring systems market growth.
  • Fuel cells directly convert the chemical energy of fuels such as natural gas, hydrogen, or biogas into electricity.
  • Fuel cells offer rapid refueling and the elimination of buffer time associated with charging.
  • Conventional batteries require a long time to recharge, hold less energy with each charge, and need to be replaced frequently. However, fuel cell systems do not contain hazardous materials, unlike conventional batteries. As a result, fuel cell systems are emerging as an alternative source of energy for EVs in the global EV battery market.
  • Several initiatives are being implemented to improve battery quality. Such initiatives would result in a significant performance upgrade of EV batteries and lead to the increased adoption of EVs. This, in turn, will contribute to the growth of the global battery monitoring systems market during the forecast period. 

Key Battery Monitoring Systems Market Trend

  • EV charging with V2G technology is one of the key battery monitoring systems market trends contributing to the market growth.
  • The V2G technology requires specially designed bidirectional charging stations that can facilitate both charging and discharging of vehicles.
  • V2G technology offers customers a remittance every time the grid uses energy from their vehicles. EVs can draw power from the grid during mid-day hours when the solar output is the highest. This, in turn, reduces the load of grids during night-time, when the solar output is low, by returning power to it. 
  • Several EV vendors have started manufacturing vehicles that support the V2G technology.
  • For instance, in December 2021, Volkswagen AG announced the plan to introduce plug and charge and vehicle-to-grid () capability. This, in turn, will fuel the battery monitoring systems market growth during the forecast period.

Key Battery Monitoring Systems Market Challenge

  • The demand-supply gap of battery components is one of the challenges limiting the battery monitoring systems market growth.
  • Lithium-ion batteries have become the most preferred battery systems in EVs because of improvements in cost, energy and power density, battery lifecycle, and performance.
  • Though lithium reserves are abundantly available, new lithium mines need to become operational due to the exponential increase in the demand for lithium from the automotive industry. Other than lithium, cobalt also faces a supply shortage, which will potentially affect the growth of the market.
  • Other components that are used in battery packs, such as integrated memory chips and Not-And (NAND) flash memory, are facing significant shortages due to the high demand and low availability of raw materials for these components. Such shortages of components are a constraint for the growth of the market and can be a potential barrier to the production of lithium-ion batteries, subsequently affecting the growth of the global battery monitoring systems market. 

This battery monitoring systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global battery monitoring systems market as a part of the global renewable electricity market within the global independent power and renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the battery monitoring systems market during the forecast period.

Who are the Major Battery Monitoring Systems Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • Analog Devices Inc.
  • BMS Powersafe
  • C and D Technologies Inc.
  • Crucial Power Products
  • Curtis Instruments Inc.
  • Eberspaecher Vecture Inc.
  • Elithion Inc.
  • General Electric Co.
  • HBL Power Systems Ltd
  • Infineon Technologies AG
  • Johnson Matthey Plc
  • Lithium Balance AS
  • Lithium Werks
  • NXP Semiconductors NV
  • Raytheon Technologies Corp.
  • Renesas Electronics Corp.
  • Schneider Electric SE
  • Texas Instruments Inc.
  • Vertiv Holdings Co.

 

This statistical study of the battery monitoring systems market encompasses successful business strategies deployed by the key vendors. The battery monitoring systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Abb.com - The company offers battery monitoring system to check battery voltage and temperature and verify that all connections are free of dust, corrosion, or leakage, and check that all ventilation is working and that all connections are tight.
  • Analog.com - The company offers battery management which offers a broad portfolio of high-performance battery management IC devices including battery chargers, companion battery charge controllers, and battery backup managers.
  • Ge.com - The company offers BA300 battery monitors as the DC auxiliary supply to ensure the continuous integrity of electrical equipment.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The battery monitoring systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Battery Monitoring Systems Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the battery monitoring systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Battery Monitoring Systems Market?

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50% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the battery monitoring systems market in APAC. Market growth in this region will be slower than the growth of the market in Europe.

The need to improve the environment as well as energy security in some of the fast-growing economies such as China, Japan, and India will facilitate the battery monitoring systems market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

.The outbreak of COVID-19 slowed down the production of automobiles in 2020. However, companies have been increasing their sales and investing in electric vehicle (EV) production with supportive government initiatives. Such factors will consequently boost the market in focus in APAC during the forecast period.

What are the Revenue-generating End-user Segments in the Battery Monitoring Systems Market?

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The battery monitoring systems market share growth by the automotive segment will be significant during the forecast period. The global battery monitoring systems market witnessed a slowdown owing to the outbreak of COVID-19 in 2020. The outbreak globally disrupted operations of the automotive industry. Owing to the outbreak, automotive manufacturers reduced their focus on electric vehicle infrastructure development temporarily. However, with the increase in vaccination rates, a decline in the number of COVID-19 cases, and the easing of lockdown measures, many countries entered the phase of recovery from the pandemic. Thus, the growth in the automotive sector in the upcoming years will drive the growth of the battery monitoring systems market in focus during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the battery monitoring systems market size and actionable market insights on post COVID-19 impact on each segment.

 

Battery Monitoring Systems Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 21.87%

Market growth 2022-2026

$ 9.48 billion

Market structure

Fragmented

YoY growth (%)

17.11

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 50%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., Analog Devices Inc., BMS Powersafe, C and D Technologies Inc., Crucial Power Products, Curtis Instruments Inc., Eberspaecher Vecture Inc., Elithion Inc., General Electric Co., HBL Power Systems Ltd, Infineon Technologies AG, Johnson Matthey Plc, Lithium Balance AS, Lithium Werks, NXP Semiconductors NV, Raytheon Technologies Corp., Renesas Electronics Corp., Schneider Electric SE, Texas Instruments Inc., and Vertiv Holdings Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Battery Monitoring Systems Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive battery monitoring systems market growth during the next five years
  • Precise estimation of the battery monitoring systems market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the battery monitoring systems industry across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of battery monitoring systems market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Automotive - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Automotive - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Automotive - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Automotive - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Automotive - Year-over-year growth 2021-2026 (%)
    • 5.4 Energy - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Energy - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Energy - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Energy - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Energy - Year-over-year growth 2021-2026 (%)
    • 5.5 Telecom and data center - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Telecom and data center - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Telecom and data center - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Telecom and data center - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Telecom and data center - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by End-user
      • Exhibit 40: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 Japan - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 ABB Ltd.
              • Exhibit 93: ABB Ltd. - Overview
              • Exhibit 94: ABB Ltd. - Business segments
              • Exhibit 95: ABB Ltd. - Key news
              • Exhibit 96: ABB Ltd. - Key offerings
              • Exhibit 97: ABB Ltd. - Segment focus
            • 10.4 Analog Devices Inc.
              • Exhibit 98: Analog Devices Inc. - Overview
              • Exhibit 99: Analog Devices Inc. - Product / Service
              • Exhibit 100: Analog Devices Inc. - Key offerings
            • 10.5 General Electric Co.
              • Exhibit 101: General Electric Co. - Overview
              • Exhibit 102: General Electric Co. - Business segments
              • Exhibit 103: General Electric Co. - Key news
              • Exhibit 104: General Electric Co. - Key offerings
              • Exhibit 105: General Electric Co. - Segment focus
            • 10.6 Infineon Technologies AG
              • Exhibit 106: Infineon Technologies AG - Overview
              • Exhibit 107: Infineon Technologies AG - Business segments
              • Exhibit 108: Infineon Technologies AG - Key news
              • Exhibit 109: Infineon Technologies AG - Key offerings
              • Exhibit 110: Infineon Technologies AG - Segment focus
            • 10.7 NXP Semiconductors NV
              • Exhibit 111: NXP Semiconductors NV - Overview
              • Exhibit 112: NXP Semiconductors NV - Product / Service
              • Exhibit 113: NXP Semiconductors NV - Key news
              • Exhibit 114: NXP Semiconductors NV - Key offerings
            • 10.8 Raytheon Technologies Corp.
              • Exhibit 115: Raytheon Technologies Corp. - Overview
              • Exhibit 116: Raytheon Technologies Corp. - Business segments
              • Exhibit 117: Raytheon Technologies Corp. - Key news
              • Exhibit 118: Raytheon Technologies Corp. - Key offerings
              • Exhibit 119: Raytheon Technologies Corp. - Segment focus
            • 10.9 Renesas Electronics Corp.
              • Exhibit 120: Renesas Electronics Corp. - Overview
              • Exhibit 121: Renesas Electronics Corp. - Business segments
              • Exhibit 122: Renesas Electronics Corp. - Key offerings
              • Exhibit 123: Renesas Electronics Corp. - Segment focus
            • 10.10 Schneider Electric SE
              • Exhibit 124: Schneider Electric SE - Overview
              • Exhibit 125: Schneider Electric SE - Business segments
              • Exhibit 126: Schneider Electric SE - Key news
              • Exhibit 127: Schneider Electric SE - Key offerings
              • Exhibit 128: Schneider Electric SE - Segment focus
            • 10.11 Texas Instruments Inc.
              • Exhibit 129: Texas Instruments Inc. - Overview
              • Exhibit 130: Texas Instruments Inc. - Business segments
              • Exhibit 131: Texas Instruments Inc. - Key news
              • Exhibit 132: Texas Instruments Inc. - Key offerings
              • Exhibit 133: Texas Instruments Inc. - Segment focus
            • 10.12 Vertiv Holdings Co.
              • Exhibit 134: Vertiv Holdings Co. - Overview
              • Exhibit 135: Vertiv Holdings Co. - Business segments
              • Exhibit 136: Vertiv Holdings Co. - Key news
              • Exhibit 137: Vertiv Holdings Co. - Key offerings
              • Exhibit 138: Vertiv Holdings Co. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 139: Inclusions checklist
                • Exhibit 140: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 141: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 142: Research methodology
                • Exhibit 143: Validation techniques employed for market sizing
                • Exhibit 144: Information sources
              • 11.5 List of abbreviations
                • Exhibit 145: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The battery monitoring systems market growth will increase by $9488 million during 2022-2026.
              The battery monitoring systems market is expected to grow at a CAGR of 21.87% during 2022-2026.
              Technavio has segmented the battery monitoring systems market by end-user (Automotive industry, Energy industry, and Telecom and data center industry) and geographic (APAC, North America, Europe, South America, Middle East and Africa, North America, APAC, Europe, South America, and MEA).
              ABB Ltd., Analog Devices Inc., BMS Powersafe, C and D Technologies Inc., Crucial Power Products, Curtis Instruments Inc., Eberspaecher Vecture Inc., Elithion Inc., General Electric Co., HBL Power Systems Ltd, Infineon Technologies AG, Johnson Matthey Plc, Lithium Balance AS, Lithium Werks, NXP Semiconductors NV, Raytheon Technologies Corp., Renesas Electronics Corp., Schneider Electric SE, Texas Instruments Inc., Vertiv Holdings Co. are a few of the key vendors in the battery monitoring systems market.
              APAC will register the highest growth rate of 50.48% among the other regions. Therefore, the battery monitoring systems market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the battery monitoring systems market growth are:
              • Advances in EV battery and associated technologies
              • EV charging with V2G technology
              The battery monitoring systems market vendors should focus on grabbing business opportunities from the automotive industry segment as it accounted for the largest market share in the base year.
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