Battery Monitoring System Market to Cross $5.47 Billion by 2022
The global battery monitoring system market is projected to grow at a CAGR of 18.23%, to reach a
market size of USD 5.47 Billion by 2022, from an estimated USD 2.37 Billion in
2017. North America is estimated to be the largest market for battery
monitoring systems, followed by Asia Pacific and Europe. The growth of the
battery monitoring system market is mainly driven by a booming demand for
global...
Increasing demand for electric vehicles fueling the demand for battery monitoring systems in the coming years
Increased concerns regarding global warming has also led to an increase in the demand for clean energy, which has further led to a shift toward sources of energy such as solar, wind, and eco-friendly electric and hybrid vehicles. Since energy storage has been a matter of concern for quite some time now, it can be only resolved by using batteries of different capacities. Therefore, monitoring of these...