Rising Need for Efficient Battery Management Systems in Renewable Energy Sector

 The Battery Management System Market is estimated to grow from $7.6 billion in 2021 at a robust CAGR of 17.4% during the forecast period 2022-2027. Battery management system refers to an electronic system that helps in monitoring and maintaining the health of the batteries. Battery management systems manage and protect the cells in a battery pack ranging from advanced lead acid batteries to lithium ion batteries, primarily nickel metal hydride based. These manage the rechargeable batteries by monitoring the state of the device and data thus ensuring long life battery pack and protecting the battery from damage. These comprise of functional blocks that include cell voltage monitor, real time clock, temperature monitors, microcontroller and others. 

Segments of the Battery Management System Market

By Topology – Centralized, Distributed, Modular

By Component – Hardware (Battery Control Unit, Power Management ICs, Communication Channel) and Software

By Application – Energy Harvesting and Nano Power Solutions, Electric Bicycle Solutions, Wireless Power Devices, Handheld Consumer Medical Equipment, Portable Industrial Solutions, Automotive Power Solutions and Others

By End Use Industry – Automotive, Telecom, Power Systems, Medical, Industrial, Consumer Electronics, Others

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Key Takeaways

  • Flow batteries’ high capacity and ability to withstand extreme temperatures offer suitable for applications such as renewable energy systems and UPS.
  • Nickel-metal batteries have high energy density although they are secondary batteries in which environmentally friendly metals are used. These batteries find applications in electric vehicles, portable devices, smart grids, UPS, and others.
  • Solid-state batteries are better than conventional batteries as they are non-flammable, have a long shelf life, are safe, and release high energy.

The battery’s power load has been improved by features such as start/stop, electric power steering, and electronic braking systems. As a result, a major problem in a vehicle’s electrical system has been prioritizing all of these electrical loads on a scale from comfort to safety. The demand for an intelligent battery management system (IBMS) is growing among automakers, and it is now being widely adopted across all regions. In a vehicle battery pack, IBMS is made up of advanced electronics like battery sensors that calculate the state of charge (SOC), state of health (SOH), and temperature across a cell and are linked in a series and parallel array.

The system also includes a variety of safety features, such as overcharging protection and short circuit protection. And it’s designed to be highly customizable, allowing users to fine-tune the system to their specific needs.

But perhaps the most impressive aspect of the new BMS is its advanced data analytics capabilities. The system is capable of collecting and analyzing vast amounts of data from the battery pack, which can be used to optimize performance and predict future battery health.

Read More @ https://www.industryarc.com/Report/1270/battery-management-systems-market-analysis-report.html

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