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DUBLIN , Aug. 19, 2022 /PRNewswire/ -- The "Battery Management ICs - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Battery Management ICs Market to Reach US$8.8 Billion by the Year 2026
A rechargeable battery pack with an in-built battery management system and an external data bus for communication between the battery and charger is known as a smart battery pack. Battery management systems manage the batteries by monitoring, analyzing, and controlling various parameters relevant to batteries, including cell voltage, voltage of periodic taps, or total voltage; cell temperatures, coolant output temperatures, coolant intake temperatures, or average temperatures; the flow rate of the coolant in case of fluid- or air-cooled batteries; and the current entering or leaving the battery pack. Amid the COVID-19 crisis, the global market for Battery Management ICs estimated at US$7.4 Billion in the year 2022, is projected to reach a revised size of US$8.8 Billion by 2026, growing at a CAGR of 4.5% over the analysis period. Fuel Gauge ICs, one of the segments analyzed in the report, is projected to grow at a 5% CAGR to reach US$4.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Battery Charger ICs segment is readjusted to a revised 4.4% CAGR for the next 7-year period. This segment currently accounts for a 39.8% share of the global Battery Management ICs market. The U.S. Market is Estimated at $1.2 Billion in 2022, While China is Forecast to Reach $2.2 Billion by 2026 The Battery Management ICs market in the U.S. is estimated at US$1.2 Billion in the year 2022. The country currently accounts for a 15.82% share in the global market. China , the world's second largest economy, is forecast to reach an estimated market size of US$2.2 Billion in the year 2026 trailing a CAGR of 5.7% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada , each forecast to grow at 3.3% and 4% respectively over the analysis period. Within Europe , Germany is forecast to grow at approximately 3.7% CAGR while Rest of European market (as defined in the study) will reach US$2.4 Billion by the close of the analysis period. Authentication ICs Segment to Reach $868.4 Million by 2026 In the global Authentication ICs segment, USA , Canada , Japan , China and Europe will drive the 2.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$490.1 Million will reach a projected size of US$589 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia , India , and South Korea , the market in Asia-Pacific is forecast to reach US$267.5 Million by the year 2026. Select Competitors (Total 26 Featured):
Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS
For more information about this report visit https://www.researchandmarkets.com/r/38msr8
Research and Markets Laura Wood , Senior Manager [email protected]
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