In 2022, it is anticipated that the market for wireless battery monitoring systems will be worth US$1,340.5 million. The market report predicts that by 2032, sales of wireless battery monitoring systems will grow at a CAGR of 23.30% and be valued at US$10,856.6 million.
The need for battery-operated vehicles and the rise in demand for effective electric grid management are expected to drive an increase in the demand for wireless battery monitoring systems, which is expected to propel the growth of the global wireless battery monitoring system market throughout the forecast period.
Systems for measuring and centrally evaluating batteries include wireless battery monitoring. Individual battery voltage, current, ambient temperature, voltage, acid levels, temperature, and other parameters can all be monitored and measured by these systems.
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The wireless battery monitoring system market refers to a set of technologies and services that enable the wireless monitoring of battery systems in real-time. These systems use sensors, software, and other technologies to collect data on battery health, performance, and other key metrics, which can be analyzed to optimize battery usage and improve reliability.
The wireless battery monitoring system market has seen significant growth in recent years, driven by factors such as the increasing adoption of renewable energy sources, the growth of the electric vehicle market, and the need to improve battery performance and lifespan.
The wireless battery monitoring system market is segmented by type, component, communication technology, end-use industry, and region. The type segment includes wired and wireless systems. The component segment includes hardware, software, and services. The communication technology segment includes Zigbee, Wi-Fi, Bluetooth, and others. The end-use industry segment includes automotive, energy storage, telecom and data centers, and others.
The automotive industry is expected to dominate the wireless battery monitoring system market, followed by the energy storage and telecom and data center industries. The growth in the automotive industry is driven by factors such as the increasing adoption of electric vehicles, the need to improve battery performance and lifespan, and the growing demand for battery management solutions.
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Who are the Key Players in the Wireless Battery Monitoring System Market?
Some of the key players in the wireless battery monitoring system market are
- Ashwoods Energy Limited,
- Toshiba Corporation,
- L&T Technology Services Ltd.,
- Merlin Equipment Ltd.,
- Vecture Inc.,
- Lithium Balance Corporation,
- Nuvation Engineering.
Recent Developments in the Wireless Battery Monitoring System Market
- In June 2022, Toshiba Energy Systems & Solutions Corporation announced its latest development of a superconducting motor to fulfil the needs of the mobility sector. This motor can recognize lightweight, high-speed rotation, high-output density, and can be made available for bigger mobility applications.
- Toshiba Electronic Devices & Storage Corporation announced its partnership with Farnell to intensify supply chain for an extended range of novel and innovative products.
Key Segments of the Wireless Battery Monitoring System Market
By Component:
- Hardware
- Software
- Services
By Battery Type:
- Lithium-ion
- Lead Acid
- Others
By Application:
- Automotive
- Telecommunication
- Aerospace & Defence
- Energy and Utilities
- BFSI
- Health care
- Others
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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