![]() These are implemented in electric vehicles using SmartMesh or the Zigbee communication protocol. In addition, it can also help to increase the driving range by building lighter vehicles and opening up extra room for more batteries as the wireless BMS has 90% fewer wires. The system will help ensure the scalability of its ultimate battery in the future lineup of various brands and vehicle segments. With the help of a wireless BMS, there is no longer a need to develop specific communication systems or redesign wiring schemes for new vehicles. Such a design can be unreliable and expensive. Traditional wired systems use copper wires that are physically attached to each cell of the battery. Most electric vehicles use wired BMS to monitor battery states such as charge status and battery health. Implementing Wireless BMS to Drive Market Growth Request a Free sample to learn more about this report. Thus, it is worth noting that due to the significant increase in sales of electric vehicles during the pandemic, the companies operating in the market are optimistic that once the pandemic eases out, this market is set to grow rapidly. According to the International Energy Agency (IEA), based on the current trends and policies, the unit sales of electric cars, heavy trucks, vans, and buses are projected to reach 145 million on the road worldwide by 2030. Moreover, the pandemic has changed how people feel about the environment, resulting in a significant rise in car buyers considering electric vehicles.Įlectric vehicles are set to grow significantly during the forecast period. These factors have directly contributed to a severe loss of revenue for automotive BMS manufacturers in 2020. However, as facilities closed due to pandemic-induced shutdowns, the global shortage of semiconductor chips and renewed concerns about the COVID-19 pandemic deterred customers from showrooms. ![]() According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2020, production declined by 16% globally to less than 78 million vehicles, equivalent to sales levels in 2010.Īlthough, in 2021, the industry recovered far quicker than anticipated in 2020, and demand for new vehicles was resilient among consumers. Furthermore, restrictions were lifted across different sectors and countries at a different pace which have resulted in input shortages in the automobile sector’s complex value chains. Lockdown measures caused production and demand disruptions to automobile manufacturers and their sub-contractors. Moreover, with social distancing rules in place, the demand for automobiles reduced, affecting the market. To avoid the spread of the COVID-19 pandemic, governments worldwide have adopted robust policies. Pandemic has caused immense uncertainty and panic in the industry for all industrial value chain members involved. COVID-19 IMPACTĭecline in Sales of Mobility Impacted Market Growth However, leading market players are continuously focusing on latest innovations on lowering the overall cost and design complexity of such battery control units. Therefore, such factors are expected to hinder the market growth during the forecast period. Moreover, the integration of BMS into the vehicle increases the overall cost of vehicles, owing to the high cost of these components. Moreover, in February 2022, Innovation Labs launched the BaMoS battery management system, which employs ultra-thin printable temperature and pressure sensors to gather comprehensive battery information at the individual cell level, which can be utilized to improve battery lifespan by up to 40%. Bird’s BMS is aimed at assisting riders and communities safely by minimizing typical lithium-ion battery failure scenarios. developed an innovative BMS, which helps to power millions of micro-electric vehicle (EV) trips globally. For instance, in January 2022, Bird Global, Inc. Besides, soaring demand for intelligent battery management system in advanced electric vehicles will also boost the automotive BMS adoption.įurthermore, increasing technological advancements in automotive BMS are also anticipated to propel market expansion. Based on our analysis, the global market exhibited a growth of 10.0% in 2020 as compared to 2019.įactors such as rise in adoption of electric and hybrid electric vehicles, increasing partnership and collaboration for the development, and integration of BMS and increasing government efforts for electric mobility charging infrastructure will boost the market’ growth prospects. The global COVID-19 pandemic has been unprecedented and staggering, with experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The global automotive battery management system market size was USD 5.14 billion in 2021 and is projected to grow from USD 5.56 billion in 2022 to USD 15.18 billion by 2029, exhibiting a CAGR of 15.4% during the forecast period.
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