Battery Management System Market to Reach $14 Million by 2026
North America expected to be the leading contributor
According to a new study published by Polaris Market Research. the worldwide battery management system (BMS) market is anticipated to reach $14,422 million by 2026. In 2017, the lead-acid batteries dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.
The rising demand of BMS from the automotive sector primarily drives the growth of this market. These systems are increasingly being adopted across various industries, such as aerospace and defense, health care, and electronics, among others. The increasing adoption of BMS in data centers and renewable energy systems further supports the growth of this market.