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The battery monitoring systems market size is forecast to increase by USD 7.57 billion at a CAGR of 18.5% between 2023 and 2028. The market is experiencing significant growth due to the increasing adoption of electric vehicles (EVs) and renewable energy storage systems. Advanced battery technologies and charging infrastructure with V2G (Vehicle-to-Grid) technology are driving market growth. However, concerns over battery lifespan and warranty are major challenges. To address these concerns, certification requirements and functional safety are becoming essential. Capacity management, electrical protection, and thermal protection are crucial features of BMS, ensuring optimal battery performance. These systems monitor and manage current, voltage, and peak currents to prevent overcharging, overdischarging, and thermal runaway. Ensuring battery health and safety while maximizing efficiency is vital for the market's continued growth.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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