Next-Gen Battery Management Systems in the Global Battery Electric Vehicles Industry, Forecast to 2030

Next-Gen Battery Management Systems in the Global Battery Electric Vehicles Industry, Forecast to 2030

IoT-based BMS Driving Transformational Growth by Enabling Real-time Data Transfer and Remote Monitoring of Battery Packs

Demand for advanced battery management systems (BMS) is increasing in line with the growth of electric vehicles (EVs). This is primarily driven by the rapid adoption of Zero Emission Vehicles (ZEV) to achieve their net zero emission targets. As of 2023, BMS makes up 8% to 9% of the total EV price, which is expected to increase significantly over the forecast period. Many OEMs invest heavily in developing advanced BMS by adopting cutting-edge technologies that efficiently work on new battery chemistries. The analysis covers advanced BMS architectures, current and future trends, advanced BMS functionalities, advanced technologies such as wireless sensor networks, cloud computing, IoT, AI, and machine learning, and the development of advanced diagnostics. It also forecasts the total addressable BMS market across the Asia-Pacific, Europe, and the Americas. OEMs heavily focus on advancing BMS to align with the needs of new battery technologies and alternative battery chemistries beyond lithium-ion. Semiconductor technologies will be widely adopted in developing advanced BMS due to their cell measuring accuracy of the cells, which could be compatible with alternative battery chemistries. A traditional BMS focuses on monitoring networks, voltage, current, and temperature of the overall battery pack and individual cells. Advanced BMS broadens the horizon of voltage precision by incorporating innovative chip control abilities to unlock the true potential of EV manufacturers.