PUBLISHER: The Business Research Company | PRODUCT CODE: 1686137
PUBLISHER: The Business Research Company | PRODUCT CODE: 1686137
An electric vehicle battery management system (BMS) is a sophisticated electronic system designed to ensure the safe and efficient operation of rechargeable batteries in electric vehicles. The BMS achieves this by monitoring critical parameters, controlling charging processes, and optimizing energy utilization to enhance overall performance and battery longevity. This system acts as a safeguard, preventing potential risks by ensuring that the battery operates within safe limits. It mitigates issues such as overcharging or over-discharging, which could lead to damage or safety concerns.
The primary battery types utilized in electric vehicle battery management systems include lithium-ion, nickel metal hydride, and others. Lithium-ion batteries, known for their high energy density and extended lifespan, are commonly employed as rechargeable power sources in electric vehicles. Battery management systems play a crucial role in ensuring the efficient performance and longevity of lithium-ion batteries by monitoring, balancing, and optimizing various battery parameters. The components of these systems are categorized into integrated circuits, cutoff FETs and FET drivers, temperature sensors, fuel gauges, current measurement devices, microcontrollers, and others. These systems find applications in various vehicle types, such as battery electric vehicles and hybrid electric vehicles, performing functions such as voltage monitoring, temperature sensing, current management, discharge monitoring, and more.
The electric vehicle battery management system research report is one of a series of new reports from The Business Research Company that provides electric vehicle battery management system market statistics, including the electric vehicle battery management system industry's global market size, regional shares, competitors with an electric vehicle battery management system market share, detailed electric vehicle battery management system market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle battery management system industry. This electric vehicle battery management system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The electric vehicle battery management system market size has grown exponentially in recent years. It will grow from $7.1 billion in 2024 to $9.4 billion in 2025 at a compound annual growth rate (CAGR) of 32.3%. The growth in the historic period can be attributed to rising environmental concerns, increasing fuel prices, growing demand for electric vehicles, declining battery costs, improving energy density.
The electric vehicle battery management system market size is expected to see exponential growth in the next few years. It will grow to $24.47 billion in 2029 at a compound annual growth rate (CAGR) of 27.0%. The growth in the forecast period can be attributed to enhanced battery performance, evolving battery chemistry, stringent emission standards, shifting consumer preferences, increasing focus on energy efficiency. Major trends in the forecast period include integration of predictive maintenance, development of wireless battery management system solutions, adoption of cloud-based analytics, rise of solid-state batteries, expansion of energy-as-a-service models.
The electric vehicle battery management system market is set to experience growth driven by the rise of electric mobility solutions. Electric mobility solutions, encompassing electric vehicles (EVs) and associated infrastructure such as charging stations, aim to reduce reliance on fossil fuels and promote cleaner, more sustainable transportation. The surge in electric mobility solutions is fueled by a combination of factors, including environmental concerns, technological advancements, government support, cost savings, and shifting consumer preferences. Electric vehicle battery management systems play a crucial role in ensuring the safe, efficient, and reliable operation of battery packs, optimizing performance, extending battery life, and enhancing the overall driving experience. According to reports from the International Energy Agency (IEA) in April 2023, electric car sales increased by 55% in 2022 compared to 2021, exceeding 10 million units, with the proportion of electric cars in total car sales rising to 14% in 2022 from 9% in 2021. This growth in electric mobility solutions contributes to the expansion of the electric vehicle battery management system market.
Major players in the electric vehicle battery management system market are increasingly focusing on integrating artificial intelligence (AI) to develop advanced solutions such as battery intelligence software. This integration enhances battery performance, optimizes energy management, and extends battery life. AI-enabled capabilities include predictive maintenance, optimized energy management, adaptive control strategies, and enhanced battery performance, efficiency, and longevity. In April 2023, WAE Technologies, a UK-based technology and engineering services company, launched Elysia battery intelligence, offering innovative features such as battery insight, optimization, and cloud-based solutions. The integration of AI in battery management enables data analysis and predictive capabilities, revolutionizing battery management by extending lifespan and providing actionable insights. This marks a significant advancement in the electric vehicle battery management system market towards optimizing efficiency and supporting new models of battery financing.
In June 2023, General Motors Company, a US-based automotive manufacturing company, acquired ALGOLiON for an undisclosed amount. This strategic acquisition brings cutting-edge battery analytics, early hazard detection, and anomaly identification, enhancing safety, efficiency, and innovation in the electric vehicle battery management system market. ALGOLiON Ltd. (AIONZ Ltd.), based in Israel, is a startup specializing in advanced electric vehicle battery management software, contributing to advancements in the field.
Major companies operating in the electric vehicle battery management system market are SAIC Motor Corporation Limited, Robert Bosch GmbH, Tesla Inc., Panasonic Corporation, Intel Corporation, BYD, Contemporary Amperex Technology Co. Limited (CATL), Continental AG, LG Chem Ltd., Hyundai Mobis, ABB Ltd., Toshiba Corporation, Johnson Matthey plc, Texas Instruments Inc., TE Connectivity, STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, Eberspaecher Vecture Inc., Lithium Balance A/S (Sensata Technologies), Sensata Technologies Holding PLC, Visteon Corporation, Maxim Integrated, Hitachi Automotive Systems Ltd., LION Smart GmbH, Leclanche SA, Nuvation Energy (Nuvation Engineering), Merlin Equipment Ltd.
Asia-Pacific was the largest region in the electric vehicle battery management system market in 2024. The regions covered in the electric vehicle battery management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electric vehicle battery management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The electric vehicle battery management system market consists of revenues earned by entities by providing services such as diagnostics, predictive maintenance, and firmware updates. The market value includes the value of related goods sold by the service provider or included within the service offering. The electric vehicle battery management system market also includes sales of products such as battery management system hardware, software solutions, cell balancing modules, and communication interfaces. 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.
Electric Vehicle Battery Management System Global Market Report 2025 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 electric vehicle battery management system 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.