Wireless Battery Monitoring System Market Accelerates with 23.30% CAGR, Aims for US$ 10,856.6 Million by 2032

Wireless Battery Monitoring System Market

The wireless battery monitoring system market is expected to reach US$ 1,340.5 million in 2022. According to the market estimate, sales of wireless battery monitoring systems will reach US$ 10,856.6 million by 2032 and increase at a CAGR of 23.30%.

The demand for wireless battery monitoring systems is anticipated to rise along with the demand for more efficient electric grid management, which is anticipated to fuel the expansion of the global wireless battery monitoring system market throughout the forecast period.

Wireless battery monitoring is a component of systems for monitoring and centrally evaluating batteries. These systems may track and measure various characteristics, including ambient temperature, voltage, acid levels, individual battery voltage, current, and voltage.

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.

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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 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.

Leading Key Players:
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

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Recent Developments in the Wireless Battery Monitoring System Market:

  • In June 2022, Toshiba Energy Systems & Solutions Corporation announced its latest superconducting motor development to fulfill the mobility sector’s needs. This motor can recognize lightweight, high-speed rotation, and high-output density, and can be made available for bigger mobility applications.
  • Toshiba Electronic Devices & Storage Corporation announced its partnership with Farnell to intensify the supply chain for an extended range of novel and innovative products.

Wireless Battery Monitoring System Market Segmentation:

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

Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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