A battery management system (BMS) is any electronic system that manages a rechargeable battery (cell or battery pack), such as by protecting the battery from operating outside its Safe Operating Area, monitoring its state, calculating secondary data, reporting that data, controlling its environment, authenticating it and / or balancing it.
Environmental sustainability, increasing adoption electric or hybrid vehicles, various incentives and tax benefits to manufacture hybrid and electric vehicles, locally, act as growth drivers for the market. Moreover, off-grid renewable energy generation is expected to witness significant growth over the forecast period due to rising off-grid installations, owing to the government support and growing focus on improving living conditions.

Market Analysis and Insights: Global Power Battery Management System Market
The global Power Battery Management System market size is projected to reach US$ 8789.7 million by 2027, from US$ 5263.6 million in 2020, at a CAGR of 7.1% during 2021-2027.
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On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Power Battery Management System market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Power Battery Management System market.

Global Power Battery Management System Scope and Market Size
Power Battery Management System market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Power Battery Management System market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Segment by Type
Distributed
Centralized
Modular

Segment by Application
Grid Energy Storage
Specialty Vehicles / Marine
Telecom / Datacom
Others

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

By Company
Denso
Calsonic Kansei
Hitachi Automotive Systems
Mitsubishi Electric
Hyundai Kefico
LG Chem
SK Innovation
Tesla Motors
Lithium Balance
Vecture
RimacAutomobil
Digi-Triumph Technolog
Clayton Power
Bosch