The major industries which make use of battery management systems are telecommunications, industrial, automotive, aerospace & defense, and consumer electronics. Out of all these, the automotive industry has been creating the largest demand for battery management systems in the past. The major reason for this is the surging adoption of electric vehicles all across the globe.

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Governments of various countries have implemented various policies regarding emission control from vehicles and providing incentives in the purchase of electric vehicles, in order to encourage the adoption of these vehicles rather than conventional fuel-based vehicles. Since all renewable energy sources need battery-equipped storage systems, the demand for battery management systems has been growing as well.

Battery management systems are needed for proper controlling and monitoring of all operations related to energy supply and storage. According to a study conducted by P&S Intelligence, the global battery management system market is expected to generate a revenue of $22.3 billion by 2030, increasing from $5.1 billion in 2019, progressing at a 14.5% CAGR during the forecast period (2020–2030). Lithium-ion (Li-ion), nickel, and lead-acid are the major types of batteries that are used for storing renewable energy.

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Geographically, the Asia-Pacific (APAC) region has been the largest battery management system market up till now and is further expected to create the largest demand for these systems in the years to come as well. This is because of the rising adoption of electric vehicles in the region, majorly in India, South Korea, and China. In addition to this, the increasing utilization of energy storage applications in industrial and telecommunications sectors for backup power supply is also creating high demand for Li-ion battery management systems in APAC.