Global Battery Management IC Market Expected to Reach $10.2 Billion by 2028 with a CAGR of 9.1% from 2023 to 2028 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Battery Management IC Market: Trends, Opportunities and Competitive Analysis 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global battery management IC market is anticipated to witness significant growth, reaching an estimated value of $10.2 billion by 2028, with a CAGR of 9.1% during the forecast period from 2023 to 2028. The market is projected to offer promising opportunities in various applications, including building control, consumer electronics, healthcare, industrial and retail, automotive, and wearable devices.

Key Drivers for Market Growth

The major drivers fueling the growth of the battery management IC market include the increasing demand for electric vehicles, the growing need for energy-efficient systems, and rising concerns regarding battery safety and security issues worldwide.

Market Segmentation

The report provides a comprehensive forecast for the global battery management IC market based on product type, application, and region.

Battery Management IC Market by Product Type:

• Battery Charger IC
• Fuel Gauge IC
• Authentication IC

Battery Management IC Market by Application:

• Building Control
• Consumer Electronics
• Healthcare
• Industrial and Retail
• Automotive
• Wearable Devices

Leading Companies

The report highlights the competitive landscape of the battery management IC market, with companies competing based on product quality. Major players in the market focus on expanding their manufacturing facilities, investing in R&D, infrastructural development, and leveraging integration opportunities across the value chain. Some of the key companies profiled in the report include:

• Analog Devices
• Semiconductor Components Industries (SCI)
• Semtech
• Microchip Technology
• NXP Semiconductors

Battery Charger IC Expected to Witness Highest Growth

Battery charger IC is anticipated to witness the highest growth over the forecast period, driven by its increasing use to provide proper charge voltage and current for specific battery cells in various appliances.

Automotive Segment to Experience Significant Growth

The automotive segment is expected to witness significant growth, owing to the rising use of lithium-ion batteries in electric cars (EVs) and hybrid electric vehicles (HEVs). The widespread adoption of battery management ICs by automakers, helping track the voltage, current, and temperature of every battery cell, further drives growth in this segment.

Asia Pacific to Witness Highest Growth

Asia Pacific is expected to witness the highest growth during the forecast period, with a massive automotive marketplace in the region and advanced technology supporting the manufacturing of numerous electrical and automotive components in Japan.

Features of the Battery Management IC Market Report

1. Market Size Estimates: Battery management IC market size estimation in terms of value ($B).
2. Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
3. Segmentation Analysis: Battery management IC market size by product type, application, and region.
4. Regional Analysis: Battery management IC market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
5. Growth Opportunities: Analysis of growth opportunities in different product types, applications, and regions for the battery management IC market.
6. Strategic Analysis: Includes M&A, new product development, and competitive landscape for the battery management IC market.
7. Competitive Intensity: Analysis based on Porter's Five Forces model.

This report answers 11 key questions about the battery management IC market, including growth opportunities, changing customer demands, emerging trends, competitive threats, and strategic initiatives pursued by major players for business growth. It also examines the impact of M&A activity in the last five years on the industry.

For more information about this report visit https://www.researchandmarkets.com/r/fv107k

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