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.

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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.

Competition Analysis:

The key players of global battery monitoring system market are Texas Instruments (US), NDSL (India), Powershield (New Zealand), HBL (India), Canara (US), ABB (Switzerland), Batterydaq (US), Eagle Eye (US), Btech (US), SBS (US), Schneider Electric (France), Curtis (US), Embitel (India).

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.

On the basis of battery type, the market has been segmented into lithium-ion and lead-acid.

On the basis of component, the market has been segmented into software & service and hardware.

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.

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