North America Automotive Battery Management System (BMS) Market by Topology (Modular, Centralized, Distributed), BMS Type (Standalone BMS & Integrated BMS), & Battery (Lithium-ion, Lead-acid, Nickel-based, Solid-state Battery) - Forecast to 2030

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USD 2.25 BN
MARKET SIZE, 2030
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CAGR 15.3%
(2025-2030)
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175
REPORT PAGES
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150
MARKET TABLES

OVERVIEW

North America Automotive Battery Management System (BMS) Market Overview

Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis

The North American automotive BMS market is projected to grow from USD 1.11 billion in 2025 to USD 2.25 billion by 2030, registering a CAGR of 15.3%. Market expansion is driven by accelerating adoption of electric and hybrid vehicles across the US, Canada, and Mexico, supported by rising vehicle electrification programs and increasing battery pack production. Integration of advanced sensing technologies, embedded software, real-time diagnostics, and intelligent battery control is enhancing battery safety, thermal stability, and lifecycle performance. In addition, sustained investment in EV manufacturing, battery supply chain localization, and government initiatives promoting clean mobility and domestic production are strengthening the adoption of advanced automotive BMS solutions across North America.

KEY TAKEAWAYS

  • BY COUNTRY
    The US is expected to grow at the highest CAGR of 15.9% in the North American automotive BMS market during the forecast period.
  • BY BATTERY TYPE
    Lithium-ion batteries are projected to hold the largest share of 94.4% of the North American automotive BMS market by 2030.
  • BY APPLICATION
    By application, passenger vehicles are expected to account for a share of 84.0% of the North American automotive BMS market.
  • COMPETITIVE LANDSCAPE
    Sensata Technologies, LG Energy Solution, and Eberspächer were identified as star players in the North American automotive BMS market, supported by their substantial market share and robust BMS product portfolios aligned with electric and hybrid vehicle platforms across the region.

The North American automotive BMS market is set for strong expansion as automakers accelerate the deployment of electric and hybrid vehicles across passenger and commercial segments. Rising demand for safer, higher-performing, and longer-lasting battery systems is driving adoption of advanced BMS platforms that manage cell monitoring, balancing, thermal control, and real-time diagnostics. Advances in embedded software, intelligent algorithms, and system integration are improving battery safety, efficiency, and lifecycle performance across vehicle platforms. With the automotive industry intensifying electrification efforts to meet regulatory requirements and cost targets, battery management systems are becoming a critical enabler of reliable, high-performance, and scalable vehicle electrification across North America.

TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS

The impact on customers’ business in the North America Automotive Battery Management System (BMS) Market is driven by the increasing need for safe, reliable, and high-performance battery systems as vehicle electrification scales across passenger and commercial segments. Automotive OEMs and battery pack integrators are investing in advanced BMS solutions to improve battery safety, extend lifecycle, enable fast-charging compatibility, and ensure compliance with stringent regulatory standards. The integration of real-time sensing, embedded software intelligence, thermal management control, and predictive diagnostics is enhancing battery efficiency, reducing failure risks, and lowering warranty and maintenance costs. These advancements are enabling automakers to optimize vehicle range, improve system reliability, and accelerate time to market for new EV platforms, positioning advanced BMS adoption as a critical factor shaping long-term competitiveness and growth in the North America Automotive Battery Management System (BMS) Market.

North America Automotive Battery Management System (BMS) Market Disruptions

Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis

MARKET DYNAMICS

Drivers
Impact
Level
  • Accelerating adoption of electric and hybrid vehicles across US and Canada is increasing demand for advanced battery safety, monitoring, and control systems.
  • Stricter safety, performance, and functional compliance standards are accelerating adoption of software-intensive battery management systems
RESTRAINTS
Impact
Level
  • System integration complexity across battery chemistries and vehicle platforms continues to constrain scalability
OPPORTUNITIES
Impact
Level
  • Expansion of EV manufacturing and battery pack assembly in North America is creating demand for modular and scalable BMS architectures
  • Shift toward software-defined vehicles is opening opportunities for intelligent BMS with diagnostics and lifecycle optimization capabilities
CHALLENGES
Impact
Level
  • Ensuring thermal safety and accuracy in high-energy-density and fast-charging battery systems remains key challenge

Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis

Driver: Accelerating adoption of electric and hybrid vehicles across US and Canada is increasing demand for advanced battery safety, monitoring, and control systems.

Rising EV and hybrid volumes are increasing the need for reliable battery monitoring, protection, and control systems. OEMs are deploying advanced BMS to ensure safety, efficiency, and durability across high-volume electrified platforms.

Restraint: System integration complexity across battery chemistries and vehicle platforms continues to constrain scalability

Differences in battery chemistry, pack design, and vehicle architecture require customized BMS integration, increasing engineering effort and system complexity.

Opportunity: Expansion of EV manufacturing and battery pack assembly in North America is creating demand for modular and scalable BMS architectures

Localized battery and vehicle production is increasing demand for flexible BMS designs that can scale across multiple models and production volumes.

Challenge: Ensuring thermal safety and accuracy in high energy density and fast-charging battery systems remains a key challenge

Higher energy densities and charging speeds increase thermal and safety risks, requiring highly accurate monitoring and control mechanisms.

North America Automotive Battery Management System (BMS) Market: COMMERCIAL USE CASES ACROSS INDUSTRIES

COMPANY USE CASE DESCRIPTION BENEFITS
Eberspächer provides automotive battery management and thermal control solutions that support the safe operation of lithium-ion battery packs in electric and hybrid vehicles. Its BMS solutions enable precise monitoring of cell voltage and temperature, fault detection, and integration with thermal management systems to maintain stable battery performance under varying operating conditions. Enhances battery safety and operational reliability through accurate monitoring and protection mechanisms. Improves thermal stability and extends battery life in high-energy and fast-charging vehicle platforms. Supports OEM compliance with automotive safety and performance standards.
Sensata delivers sensor-rich BMS solutions that enable real-time battery monitoring, diagnostics, and protection across automotive applications. Its BMS platforms integrate voltage, current, and temperature sensing with advanced algorithms to support state-of-charge and state-of-health estimation for electric and hybrid vehicles. Improves battery performance accuracy and safety through high-precision sensing and diagnostics. Enables predictive fault detection and optimized energy utilization. Supports scalable BMS deployment across multiple vehicle architectures in North America.
LG Energy Solution provides integrated BMS solutions as part of its automotive battery offerings, supporting cells, modules, and packs for EVs, HEVs, and PHEVs. Its BMS platforms manage cell balancing, thermal protection, and system communication to ensure safe and efficient battery operation across vehicle lifecycles. Enhances battery pack reliability, efficiency, and lifecycle performance. Supports high-volume EV production with scalable and standardized BMS architectures. Enables OEMs to meet safety, range, and fast-charging performance targets.

Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.

MARKET ECOSYSTEM

The North American automotive BMS market ecosystem is supported by a well-integrated network of battery manufacturers, BMS solution providers, component suppliers, system integrators, and automotive OEMs, enabling large-scale deployment of electrified vehicles. The ecosystem benefits from localized battery production, advanced electronics and semiconductor capabilities, as well as strong OEM-led integration across passenger and commercial vehicle platforms. Close collaboration between component suppliers and integrators supports efficient development of safety-critical BMS hardware and software aligned with automotive compliance standards. This coordinated ecosystem strengthens system reliability, accelerates innovation in battery monitoring and control technologies, and supports the scalability of advanced BMS solutions across North America.

North America Automotive Battery Management System (BMS) Market Ecosystem

Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.

MARKET SEGMENTS

North America Automotive Battery Management System (BMS) Market Segments

Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis

North American Automotive BMS Market, by Application

Passenger vehicles are expected to grow at the highest CAGR in the North American automotive BMS market, driven by accelerating adoption of electric and hybrid cars, OEM investments in long-range battery platforms, and stricter safety and emissions regulations. Automakers are prioritizing advanced BMS for precise state-of-charge monitoring, extended battery life, and improved thermal management, which is increasing BMS content per vehicle and strengthening demand across mass-market and premium passenger vehicle segments.

North American Automotive BMS Market, by Topology

Modular topology is expected to grow at the highest CAGR in the North American automotive BMS market, driven by its flexibility, scalability, and suitability for complex automotive battery architectures. Increasing adoption of high-voltage and large-capacity battery packs in electric passenger and commercial vehicles is accelerating demand for modular BMS designs that enable efficient cell monitoring, fault isolation, and thermal management while supporting platform standardization and cost-efficient scaling across vehicle programs.

North American Automotive BMS Market, by Battery Type

Lithium-ion batteries are expected to grow at the highest CAGR in the North American automotive BMS market, driven by their widespread adoption across electric, hybrid, and plug-in hybrid vehicles. The shift toward high-energy-density battery chemistries, fast-charging capability, and longer lifecycle performance is increasing demand for advanced BMS solutions designed to deliver accurate cell monitoring, thermal control, and safety management, supporting large-scale electrification across passenger and commercial vehicle segments.

REGION

US to be fastest-growing country in North American automotive BMS market during forecast period

The US is projected to grow at the fastest CAGR in the North American automotive BMS market, driven by the rapid expansion of electric vehicle production and increasing localization of battery pack manufacturing. Rising focus on battery safety, fast-charging capability, and extended driving range is accelerating the adoption of advanced BMS solutions across passenger and commercial vehicles. Strong investments in EV plants, battery validation facilities, and software-driven vehicle platforms, supported by favorable electrification policies, continue to strengthen the US' position as the fastest-growing market for automotive BMS deployment in North America.

North America Automotive Battery Management System (BMS) Market Region

North America Automotive Battery Management System (BMS) Market: COMPANY EVALUATION MATRIX

In the North American automotive BMS market matrix, LG Energy Solution (Star) leads with an integrated battery and BMS ecosystem encompassing cells, modules, packs, and advanced battery management technologies aligned with large-scale electric and hybrid vehicle production. Its strong focus on safety-critical system design, thermal management integration, and OEM-aligned BMS architectures enables reliable, high-performance battery operation across next-generation vehicle platforms. Ficosa Internacional SA (Emerging) is gaining momentum through expanded BMS development, deeper collaboration with automotive OEMs, and a growing emphasis on modular and software-enhanced battery management solutions, focusing on monitoring, control, and integration. Its ability to align system design with evolving EV safety, performance, and scalability requirements is strengthening its trajectory toward broader adoption within the North American automotive BMS market.

North America Automotive Battery Management System (BMS) Market Evaluation Metrics

Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis

KEY MARKET PLAYERS

MARKET SCOPE

REPORT METRIC DETAILS
Market Size in 2024 (Value) USD 0.97 Billion
Market Forecast in 2030 (Value) USD 2.25 Billion
Growth Rate CAGR of 15.3% from 2025–2030
Years Considered 2020–2030
Base Year 2024
Forecast Period 2025–2030
Units Considered Value (USD Billion)
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
Segments Covered
  • By Battery Type:
    • Lithium-ion
    • Lead-acid
    • Other Batteries
  • By Topology:
    • Modular
    • Centralized
    • Distributed
  • By Application:
    • Passenger Vehicles
    • Commercial Vehicles
    • Other Vehicles
Regions Covered North America (US, Canada, & Mexico)

WHAT IS IN IT FOR YOU: North America Automotive Battery Management System (BMS) Market REPORT CONTENT GUIDE

North America Automotive Battery Management System (BMS) Market Content Guide

DELIVERED CUSTOMIZATIONS

We have successfully delivered the following deep-dive customizations:

CLIENT REQUEST CUSTOMIZATION DELIVERED VALUE ADDS
Automotive OEM/EV Manufacturer
  • Comparative assessment of BMS architectures by battery chemistry and topology (modular, centralized, distributed)
  • Evaluation of BMS compliance with functional safety and automotive standards
  • Cost-performance benchmarking across passenger and commercial vehicle platforms
  • Optimize BMS selection aligned with vehicle platform strategy
  • Reduce battery safety and integration risks
  • Support scalable EV platform development and faster time to market
Battery Pack Manufacturer/Supplier
  • Analysis of BMS requirements by pack voltage, capacity, and thermal profile
  • Assessment of integration compatibility with cells, modules, and power electronics
  • Roadmap for modular and scalable BMS deployment across multiple OEM programs
  • Improve pack-level safety, performance, and certification readiness
  • Enable flexible scaling across OEM contracts
  • Strengthen differentiation in competitive battery supply chains
BMS Provider
  • Competitive landscape benchmarking of BMS vendors across North America
  • Pricing and business model assessment
  • Identification of OEM sourcing trends and partnership opportunities
  • Strengthen market positioning and go-to-market strategy
  • Identify high-growth customer segments
  • Align product roadmap with OEM demand and regulatory direction

RECENT DEVELOPMENTS

  • December 2024 : LG Energy Solution partnered with Qualcomm Technologies, Inc. to integrate its advanced BMS software with Snapdragon Digital Chassis, enhancing safety and anomaly detection in EV batteries.
  • July 2024 : Eberspächer launched a 12 V Battery Management System (BMS) for low-voltage automotive applications, designed for integration with lithium iron phosphate (LFP) starter batteries. The system supports ASIL C–compliant safety functions, enables real-time battery status monitoring via CAN or LIN bus, and enhances vehicle safety and reliability.
  • March 2024 : Sensata Technologies, Inc. launched SIM200, an advanced insulation monitoring device (IMD) designed to monitor unearthed DC systems in electric vehicles and charging infrastructure. The solution enhances battery safety in high-voltage systems and complements automotive BMS functionality.

 

Table of Contents

Exclusive indicates content/data unique to MarketsandMarkets and not available with any competitors.

TITLE
PAGE NO
1
INTRODUCTION
 
 
 
25
2
EXECUTIVE SUMMARY
 
 
 
 
3
PREMIUM INSIGHTS
 
 
 
 
4
MARKET OVERVIEW
 
 
 
 
 
4.1
INTRODUCTION
 
 
 
 
4.2
MARKET DYNAMICS
 
 
 
 
4.3
INTERCONNECTED MARKETS AND CROSS-SECTOR OPPORTUNITIES
 
 
 
 
4.4
STRATEGIC MOVES BY TIER-1/2/3 PLAYERS
 
 
 
5
INDUSTRY TRENDS
 
 
 
 
 
5.1
PORTER'S FIVE FORCES ANALYSIS
 
 
 
 
5.2
MACROECONOMIC INDICATORS
 
 
 
 
 
5.2.1
INTRODUCTION
 
 
 
 
5.2.2
GDP TRENDS AND FORECAST
 
 
 
 
5.2.3
TRENDS IN NORTH AMERICAN AUTOMOTIVE BATTERY MANAGEMENT SYSTEM MARKET
 
 
 
5.3
VALUE CHAIN ANALYSIS
 
 
 
 
 
5.4
ECOSYSTEM ANALYSIS
 
 
 
 
 
5.5
PRICING ANALYSIS
 
 
 
 
 
 
5.5.1
AVERAGE SELLING PRICE TREND OF KEY PLAYERS (2022–2025)
 
 
 
 
5.5.2
AVERAGE SELLING PRICE TREND FOR AUTOMOTIVE BMS (2022–2025)
 
 
 
5.6
TRADE ANALYSIS
 
 
 
 
 
 
5.6.1
IMPORT SCENARIO
 
 
 
 
5.6.2
EXPORT SCENARIO
 
 
 
5.7
KEY CONFERENCES AND EVENTS (2026–2027)
 
 
 
 
5.8
TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
 
 
 
 
5.9
INVESTMENT AND FUNDING SCENARIO
 
 
 
 
5.10
CASE STUDY ANALYSIS
 
 
 
 
5.11
IMPACT OF 2025 US TARIFF – NORTH AMERICAN AUTOMOTIVE BATTERY MANAGEMENT SYSTEM MARKET
 
 
 
 
 
 
5.11.1
INTRODUCTION
 
 
 
 
5.11.2
KEY TARIFF RATES
 
 
 
 
5.11.3
PRICE IMPACT ANALYSIS
 
 
 
 
5.11.4
IMPACT ON END-USE INDUSTRIES
 
 
6
STRATEGIC DISRUPTION THROUGH TECHNOLOGY, PATENTS, DIGITAL, AND AI ADOPTION
 
 
 
 
 
6.1
KEY EMERGING TECHNOLOGIES
 
 
 
 
6.2
COMPLEMENTARY TECHNOLOGIES
 
 
 
 
6.3
TECHNOLOGY/PRODUCT ROADMAP
 
 
 
 
6.4
PATENT ANALYSIS
 
 
 
 
 
6.5
IMPACT OF AI ON NORTH AMERICAN AUTOMOTIVE BATTERY MANAGEMENT SYSTEM MARKET
 
 
 
 
 
 
6.5.1
TOP USE CASES AND MARKET POTENTIAL
 
 
 
 
6.5.2
CASE STUDIES OF AI IMPLEMENTATION IN NORTH AMERICAN AUTOMOTIVE BATTERY MANAGEMENT SYSTEM MARKET
 
 
 
 
6.5.3
INTERCONNECTED ADJACENT ECOSYSTEM AND IMPACT ON MARKET PLAYERS
 
 
 
 
6.5.4
CLIENTS’ READINESS TO ADOPT AI IN NORTH AMERICAN AUTOMOTIVE BATTERY MANAGEMENT SYSTEM MARKET
 
 
7
REGULATORY LANDSCAPE
 
 
 
 
 
7.1
REGIONAL REGULATIONS AND COMPLIANCE
 
 
 
 
 
7.1.1
REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
 
 
 
 
7.1.2
INDUSTRY STANDARDS
 
 
8
CUSTOMER LANDSCAPE & BUYER BEHAVIOR
 
 
 
 
 
8.1
DECISION-MAKING PROCESS
 
 
 
 
8.2
BUYER STAKEHOLDERS AND BUYING EVALUATION CRITERIA
 
 
 
 
8.3
ADOPTION BARRIERS & INTERNAL CHALLENGES
 
 
 
 
8.4
UNMET NEEDS FROM VARIOUS END-USE INDUSTRIES
 
 
 
9
TYPES OF AUTOMOTIVE BATTERY MANAGEMENT SYSTEM
 
 
 
 
 
9.1
INTRODUCTION
 
 
 
 
9.2
STANDALONE BMS
 
 
 
 
9.3
INTEGRATED BMS
 
 
 
10
NORTH AMERICAN AUTOMOTIVE BATTERY MANAGEMENT SYSTEM MARKET, BY BATTERY TYPE
 
 
 
 
 
10.1
INTRODUCTION
 
 
 
 
10.2
LITHIUM-ION
 
 
 
 
10.3
LEAD-ACID
 
 
 
 
10.4
OTHER BATTERIES
 
 
 
11
NORTH AMERICAN AUTOMOTIVE BATTERY MANAGEMENT SYSTEM MARKET, BY TOPOLOGY
 
 
 
 
 
11.1
INTRODUCTION
 
 
 
 
11.2
MODULAR
 
 
 
 
11.3
CENTRALIZED
 
 
 
 
11.4
DISTRIBUTED
 
 
 
12
NORTH AMERICAN AUTOMOTIVE BATTERY MANAGEMENT SYSTEM MARKET, BY APPLICATION
 
 
 
 
 
12.1
INTRODUCTION
 
 
 
 
12.2
PASSENGER VEHICLES
 
 
 
 
12.3
COMMERCIAL VEHICLES
 
 
 
 
12.4
OTHER VEHICLES
 
 
 
13
NORTH AMERICAN AUTOMOTIVE BATTERY MANAGEMENT SYSTEM MARKET, BY COUNTRY
 
 
 
 
 
13.1
INTRODUCTION
 
 
 
 
13.2
US
 
 
 
 
13.3
CANADA
 
 
 
 
13.4
MEXICO
 
 
 
14
COMPETITIVE LANDSCAPE
 
 
 
 
 
14.1
INTRODUCTION
 
 
 
 
14.2
KEY PLAYER STRATEGIES/RIGHT-TO-WIN
 
 
 
 
14.3
REVENUE ANALYSIS OF TOP 5 PLAYERS (2021–2025)
 
 
 
 
 
14.4
MARKET SHARE ANALYSIS,
 
 
 
 
 
14.5
COMPANY VALUATION AND FINANCIAL METRICS
 
 
 
 
14.6
BRAND COMPARISON
 
 
 
 
 
14.7
COMPANY EVALUATION MATRIX: KEY PLAYERS,
 
 
 
 
 
 
14.7.1
STARS
 
 
 
 
14.7.2
EMERGING LEADERS
 
 
 
 
14.7.3
PERVASIVE PLAYERS
 
 
 
 
14.7.4
PARTICIPANTS
 
 
 
 
14.7.5
COMPANY FOOTPRINT: KEY PLAYERS,
 
 
 
 
 
14.7.5.1
COMPANY FOOTPRINT
 
 
 
 
14.7.5.2
COUNTRY FOOTPRINT
 
 
 
 
14.7.5.3
APPLICATION FOOTPRINT
 
 
14.8
COMPANY EVALUATION MATRIX: STARTUPS/SMES,
 
 
 
 
 
 
14.8.1
PROGRESSIVE COMPANIES
 
 
 
 
14.8.2
RESPONSIVE COMPANIES
 
 
 
 
14.8.3
DYNAMIC COMPANIES
 
 
 
 
14.8.4
STARTING BLOCKS
 
 
 
 
14.8.5
COMPETITIVE BENCHMARKING: STARTUPS/SMES,
 
 
 
 
 
14.8.5.1
DETAILED LIST OF KEY STARTUPS/SMES
 
 
 
 
14.8.5.2
COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
 
 
14.9
COMPETITIVE SITUATION AND TRENDS
 
 
 
15
COMPANY PROFILES
 
 
 
 
 
15.1
KEY PLAYERS
 
 
 
 
 
15.1.1
EBERSPÄCHER
 
 
 
 
15.1.2
SENSATA TECHNOLOGIES, INC.
 
 
 
 
15.1.3
LG ENERGY SOLUTION
 
 
 
 
15.1.4
FICOSA INTERNACIONAL SA
 
 
 
 
15.1.5
AVL
 
 
 
 
15.1.6
NUVATION ENERGY
 
 
 
 
15.1.7
PANASONIC HOLDINGS CORPORATION
 
 
 
 
15.1.8
RENESAS ELECTRONICS CORPORATION
 
 
 
 
15.1.9
INFINEON TECHNOLOGIES AG
 
 
 
 
15.1.10
TEXAS INSTRUMENTS INCORPORATED
 
 
 
 
15.1.11
NXP SEMICONDUCTORS
 
 
 
 
15.1.12
EWERT ENERGY SYSTEMS, INC.
 
 
 
 
15.1.13
ELITHION, INC.
 
 
 
 
15.1.14
ROBOTEQ
 
 
 
15.2
OTHER PLAYERS
 
 
 
16
RESEARCH METHODOLOGY
 
 
 
 
 
16.1
RESEARCH DATA
 
 
 
 
 
16.1.1
SECONDARY DATA
 
 
 
 
 
16.1.1.1
KEY DATA FROM SECONDARY SOURCES
 
 
 
16.1.2
PRIMARY DATA
 
 
 
 
 
16.1.2.1
KEY DATA FROM PRIMARY SOURCES
 
 
 
 
16.1.2.2
KEY PRIMARY PARTICIPANTS
 
 
 
 
16.1.2.3
BREAKDOWN OF PRIMARY INTERVIEWS
 
 
 
 
16.1.2.4
KEY INDUSTRY INSIGHTS
 
 
 
16.1.3
MARKET SIZE ESTIMATION
 
 
 
 
 
16.1.3.1
BOTTOM-UP APPROACH
 
 
 
 
16.1.3.2
TOP-DOWN APPROACH
 
 
 
 
16.1.3.3
BASE NUMBER CALCULATION
 
 
 
16.1.4
MARKET FORECAST APPROACH
 
 
 
 
 
16.1.4.1
SUPPLY SIDE
 
 
 
 
16.1.4.2
DEMAND SIDE
 
 
 
16.1.5
DATA TRIANGULATION
 
 
 
 
16.1.6
FACTOR ANALYSIS
 
 
 
 
16.1.7
RESEARCH ASSUMPTIONS
 
 
 
 
16.1.8
RESEARCH LIMITATIONS AND RISK ASSESSMENT
 
 
17
APPENDIX
 
 
 
 
 
17.1
DISCUSSION GUIDE
 
 
 
 
17.2
KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
 
 
 
 
17.3
AVAILABLE CUSTOMIZATIONS
 
 
 
 
17.4
RELATED REPORTS
 
 
 
 
17.5
AUTHOR DETAILS
 
 
 

Methodology

The research study involved four major steps in estimating the size of the North America Automotive Battery Management System (BMS) Market. Exhaustive secondary research has been done to collect important information about the market and peer markets. The next step has been to validate these findings and assumptions and size them with the help of primary research with industry experts across the value chain. Both top-down and bottom-up approaches have been used to estimate the market size. After this, the market breakdown and data triangulation approaches have been adopted to estimate the market sizes of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources were referred to identify and collect information required for this study. The secondary sources include annual reports, press releases, investor presentations of companies, white papers, and articles from recognized authors. Secondary research has been mainly done to obtain key information about the market's value chain, the pool of key market players, market segmentation according to industry trends, regional outlook, and developments from market and technology perspectives.

In the North America Automotive Battery Management System (BMS) Market report, the global market size has been estimated using the top-down and bottom-up approaches, along with several other dependent submarkets. The major players in the market were identified using extensive secondary research, and their presence in the market was determined using secondary and primary research. All the percentage splits and breakdowns have been determined using secondary sources and verified through primary sources.

Primary Research

Extensive primary research has been conducted after understanding the North America Automotive Battery Management System (BMS) Market scenario through secondary research. Several primary interviews have been conducted with key opinion leaders from demand- and supply-side vendors across four major regions—North America, Europe, Asia Pacific, and RoW. Approximately 25% of the primary interviews have been conducted with the demand-side vendors and 75% with the supply-side vendors. Primary data has been collected mainly through telephonic interviews, which consist of 80% of the total primary interviews; questionnaires and emails have also been used to collect the data.

After successful interaction with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings of our primary research. This, along with the in-house subject matter experts' opinions, has led us to the findings as described in the report. The breakdown of primary respondents is as follows:

Market Size Estimation

In the complete market engineering process, the top-down and bottom-up approaches and several data triangulation methods have been used to estimate and forecast the market size for the overall market segments and subsegments listed in this report. Extensive qualitative and quantitative analyses have been performed on the complete market engineering process to list the key information/insights throughout the report. The following table explains the process flow of the market size estimation.

The key players in the North America Automotive Battery Management System (BMS) Market were identified through secondary research, and their rankings in the respective regions were determined through primary and secondary research. This entire procedure involved the study of the annual and financial reports of top players and interviews with industry experts, such as chief executive officers, vice presidents, directors, and marketing executives, for quantitative and qualitative key insights. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated, supplemented with detailed inputs and analysis from MarketsandMarkets, and presented in this report.

Bottom-Up Approach

  • MarketsandMarkets focuses on the top-line expenditures and investments made throughout the automotive BMS ecosystem to manufacture new systems and retrofit the existing ones.
  • Information related to revenues generated by key manufacturers of automotive BMS has been studied and analyzed.
  • Multiple on-field discussions have been carried out with key opinion leaders of leading companies involved in manufacturing automotive BMS.
  • The geographical split has been estimated using secondary sources based on various factors, such as the number of players in a specific country or region and the automotive BMS provided by these players.

Top-Down Approach

  • Tracking leading companies and system integrators operating across various industries
  • Deriving the size of the automotive battery management system through the data sanity method, analyzing revenues of more than 20 key providers through their annual reports and press releases, secondary databases, and summing them up to estimate the overall market size
  • Conducting multiple discussions with key opinion leaders to understand the demand for automotive BMS and analyzing the breakup of the scope of work carried out by each major company
  • Carrying out the market trend analysis to obtain the CAGR of the automotive battery management system by understanding the product penetration rate in each application and analyzing the demand and supply of automotive BMS in different applications
  • Assigning a percentage to the overall revenue or, in a few cases, to segmental revenues of each company to derive their revenues from the sales of automotive BMS; this percentage for each company has been assigned based on their product portfolios
  • Verifying and crosschecking estimates at every level through discussions with key opinion leaders, including CXOs, directors, and operation managers, and with domain experts at MarketsandMarkets
  • Studying various paid and unpaid information sources, such as annual reports, press releases, white papers, and databases
  • Tracking ongoing and identifying upcoming automotive BMS projects by companies and forecasting the market size based on these developments and other critical parameters

Data Triangulation

After arriving at the overall size of the automotive battery management system from the market size estimation processes explained above, the total market has been split into several segments and subsegments. Where applicable, the market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends. Additionally, the market size has been validated using top-down and bottom-up approaches.

Market Definition

A battery management system (BMS) is an electronic device that monitors and controls the operation and functioning of a rechargeable battery. It is called the battery brain, as it enhances safety, performance, charging rates, and longevity by managing current, voltage, temperature, and battery capacity. Its primary functions include preventing overcharging, ensuring safe operation, cell balancing, voltage and temperature control, and determining the state of charge (SoC) and state of health (SoH) of the battery.

A battery management system typically comprises hardware and software customized according to applications and battery specifications.

An automotive BMS is a crucial component of electric vehicles (EVs) that accurately monitors, protects, and optimizes the performance of the battery of electric vehicles. The BMS is responsible for ensuring the battery's safety, preventing it from operating outside its safe area. The main functions of an automotive BMS include monitoring, protection, optimization, integration, scalability, safety, and compliance.

Key Stakeholders

  • BMS Providers
  • Government Bodies and Policymakers
  • Industry-standard Organizations, Forums, Alliances, and Associations
  • Market Research and Consulting Firms
  • Raw Material Suppliers and Distributors
  • Research Institutes and Organizations
  • Battery Cell and Battery Pack Manufacturers
  • Testing, Inspection, and Certification Providers
  • Distributors and Resellers
  • End Users

Report Objectives

  • To define, describe, and forecast the North America Automotive Battery Management System (BMS) Market, by battery type, topology, and application, in terms of value
  • To provide information about the components and system types of automotive BMS
  • To describe and forecast the automotive battery management system size across four regions, namely, North America, Europe, Asia Pacific, and Rest of the World (RoW), in terms of value
  • To provide detailed information on drivers, restraints, opportunities, and challenges influencing the market growth
  • To provide information related to the ecosystem, case study, patent, technology, pricing, and Porter's five forces analysis, key stakeholders and buying criteria, key conferences and events, and regulatory bodies, government agencies, and regulations pertaining to the market under study
  • To strategically analyze micromarkets concerning individual growth trends, prospects, and contributions to the overall market size
  • To study the complete value chain of the automotive battery management system
  • To strategically profile the key players and comprehensively analyze their market positions in terms of their ranking and core competencies, along with a detailed market competitive landscape
  • To analyze competitive developments, such as product launches, acquisitions, and partnerships, in the market
  • To provide an analysis of the recession impact on the growth of the market and its segments

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Growth opportunities and latent adjacency in North America Automotive Battery Management System (BMS) Market

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