PUBLISHER: The Business Research Company | PRODUCT CODE: 1556212
PUBLISHER: The Business Research Company | PRODUCT CODE: 1556212
A battery management integrated circuit (IC) is a specialized electronic circuit designed to monitor and control the charging and discharging of batteries, ensuring their safe and efficient operation. It encompasses battery protection, state of charge (SoC) estimation, cell balancing, and temperature monitoring. These integrated circuits enhance the performance, longevity, and safety of batteries.
In the battery management IC market, the main types of integrated circuits are battery integrated circuits, battery authentication integrated circuits, battery fuel gauge integrated circuits, and battery protector integrated circuits. Battery integrated circuits are semiconductor devices that manage and control various functions within a battery system, such as charging, discharging, and monitoring. The different types of batteries include lithium-ion, lead-acid, nickel-based, flow batteries, and others, with applications spanning automotive, industrial equipment, medical devices, consumer electronics, and more.
The battery management integrated circuit (IC) market research report is one of a series of new reports from The Business Research Company that provides battery management integrated circuit (IC) market statistics, including the battery management integrated circuit (IC) industry global market size, regional shares, competitors with battery management integrated circuit (IC) market share, detailed battery management integrated circuit (IC) market segments, market trends, and opportunities, and any further data you may need to thrive in the battery management integrated circuit (IC) industry. These battery management integrated circuit (IC) market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The battery management integrated circuits (ICs) market size has grown strongly in recent years. It will grow from $4.87 billion in 2023 to $5.20 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth during the historic period can be attributed to increased demand for portable electronics, expansion of the electric vehicle industry, a greater need for efficient battery utilization, a surge in the miniaturization of electronic devices, and a rise in regulatory mandates for energy efficiency.
The battery management integrated circuits (ICs) market size is expected to see strong growth in the next few years. It will grow to $6.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth during the forecast period can be attributed to the rising adoption of electric vehicles, growing demand for portable consumer electronics, a heightened focus on renewable energy storage, expanding IoT applications, stricter safety regulations, and a growing need for efficient power management solutions. Major trends for this period include the integration of AI and machine learning, the development of more efficient and compact integrated circuits (ICs), advancements in ultra-fast charging capabilities, the adoption of advanced thermal management techniques, and progress in wireless battery management solutions.
The growing demand for electric vehicles (EVs) is expected to drive the expansion of the battery management integrated circuit (IC) market. Electric vehicles are powered either fully or primarily by electric motors, utilizing electrical energy stored in batteries or other energy storage devices. This increasing demand for EVs is due to factors such as technological advancements, environmental concerns, economic benefits, government incentives, safety improvements, consumer preferences, and infrastructure development. Battery management ICs play a crucial role in electric vehicles by optimizing battery performance, ensuring safe charging and discharging, balancing cell charge levels, and providing essential data on battery health and state of charge. For example, in April 2024, the International Energy Agency, a France-based intergovernmental organization, reported that electric vehicle sales surged by 3.5 million in 2023 compared to 2022, marking a 35% annual increase. This rise in electric vehicle sales drives the growth of the battery management IC market.
Key companies in the battery management IC market are creating innovative products such as integrated fuel gauges to improve the accuracy and efficiency of battery monitoring systems, optimize energy usage, and extend battery life across various applications. An integrated fuel gauge in a management IC monitors and displays the battery's charge level or remaining capacity, providing real-time information to manage battery use efficiently and avoid overcharging or deep discharging. For instance, in November 2021, Analog Devices Inc., a US-based semiconductor company, introduced the MAX17330 battery management IC. This IC, featuring an integrated fuel gauge and advanced battery protection, is designed for single-cell lithium-ion/polymer batteries. The MAX17330 enhances battery runtime for consumer applications by offering superior management and protection compared to similar products, extending battery life, and monitoring internal cell self-discharge risks while minimizing the size of solutions for single-cell battery-powered devices.
In May 2023, Winnebago Industries, a US-based motorhome manufacturer, acquired Lithionics Battery for an undisclosed amount. This acquisition strengthens Winnebago's capabilities in battery management and overall electrical solutions for its recreational vehicles (RVs) and marine products. Lithionics Battery is a US-based producer of battery management systems and integrated circuit products.
Major companies operating in the battery management integrated circuits (ICs) market are Samsung Electronics Co. Ltd., Panasonic Holdings Corporation, Qualcomm Incorporated, Toshiba Corporation, Texas Instruments Incorporated, STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors NV, Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Microchip Technology Incorporated, Skyworks Solutions Inc., Qorvo Inc., ROHM Co. Ltd., ams OSRAM AG, Nisshinbo Micro Devices Inc., Diodes Incorporated, Monolithic Power Systems Inc., Semtech Corporation, Torex Semiconductor Ltd., Ablic Inc., Dialog Semiconductor Plc, Eutech Microelectronics Inc., Richtek Technology Corporation
Asia-Pacific was the largest region in the battery management integrated circuits (ICs) market in 2023. The regions covered in the battery management integrated circuits (ICs) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the battery management integrated circuits (ICs) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The battery management integrated circuit (IC) market consists of sales of battery charger ICs, battery monitoring ICs, battery balancing ICs, and power management ICs. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Battery Management Integrated Circuits (ICs) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on battery management integrated circuits (ICs) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for battery management integrated circuits (ICs) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The battery management integrated circuits (ICs) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.