A recent study predicts major growth in the electronic battery management systems niche through 2023. Radiant Insights has reported the market increase comes from the increase in applications for smartphones and electric vehicles, as well as, the increase in demand for renewable energy systems.

“Battery management systems control and manage charging and discharging of rechargeable batteries. They also control and monitor coolant temperature and flow for air or liquid cooling, main power voltage, battery and cell health, battery or cell voltage, and temperatures of the batteries or cells,” Fierce Electronics notes.

With the increase in development of automated guided vehicles, as well as battery-powered electric vehicles and e-bikes, the United States (and North America overall) is expected to lead the demand in the market.

Europe and Asia will also contribute to the growth in demand. Asia is predicted to have the largest Compound Annual Growth Rate (GAGR). OnlineComponents.com carries Microchip Technology battery management IC products. 

As Engineering.com explains “Battery Management Systems are the brains behind battery packs. They manage the output, charging and discharging and provide notifications on the status of the battery pack. They also provide critical safeguards to protect the batteries from damage”. 

As the world transitions more and more to technology using battery power versus other fuel sources demand will continue to grow in this area of the electronics industry. The study predicts a 11.6% CAGR through 2023.