Global Battery Management IC Market 2024-2028

Global Battery Management IC Market 2024-2028

The battery management IC market is forecasted to grow by USD 2883.38 mn during 2023-2028, accelerating at a CAGR of 10.08% during the forecast period. The report on the battery management IC market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising adoption of EVs and hybrid electric vehicles (HEVS), growing proliferation of portable electronic devices, and advances in battery technology.

Technavio's battery management IC market is segmented as below:

By Product

• Fuel gauge IC
• Battery charger IC
• Authentication IC

By Application

• Consumer products and communications
• Automotive
• Industrial
• Others

By Geographical Landscape

• APAC
• North America
• Europe
• South America
• Middle East and Africa

This study identifies the emergence of artificial intelligence and ML algorithms in battery management as one of the prime reasons driving the battery management IC market growth during the next few years. Also, rising number of new product launches and growing shift toward higher energy density batteries will lead to sizable demand in the market.

The report on the battery management IC market covers the following areas:

• Battery management IC market sizing
• Battery management IC market forecast
• Battery management IC market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading battery management IC market vendors that include AiT Semiconductor Inc., Analog Devices Inc., DENSO Corp., Eberspacher, Infineon Technologies AG, Innoscience, MagnaChip Semiconductor Corp., Microchip Technology Inc., MinebeaMitsumi Inc., Nordic Semiconductor ASA, Nuvoton Technology Corp., NXP Semiconductors NV, Renesas Electronics Corp., ROHM Co. Ltd., Sensata Technologies Inc., STMicroelectronics N.V., Texas Instruments Inc., Top Power ASIC, Wingtech Technology Co. Ltd., and SK Innovation Co. Ltd.. Also, the battery management IC market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.