According to a new report, published by KBV research, The Global Vehicles Intelligence Battery Sensor Market size is expected to reach $8.7 billion by 2031, rising at a market growth of 11.8% CAGR during the forecast period.
The vehicles intelligence battery sensor market represents a rapidly growing and crucial segment of the automotive industry, driven by the increasing complexity and sophistication of modern vehicles. As the automotive landscape evolves, with an ongoing shift towards electrification, connectivity, and autonomous driving, the demand for advanced battery management systems has become more pronounced. At the heart of these systems lies the Intelligent Battery Sensor (IBS), a pivotal component that ensures optimal battery performance, enhances vehicle safety, and supports the efficient operation of various vehicle systems.
The Passenger Cars segment is registering a CAGR of 11.4 % during the forecast period. The widespread adoption of electronic systems such as advanced driver assistance systems (ADAS), infotainment units, and climate control systems in passenger cars necessitates precise battery management, which IBS technology provides by ensuring the reliable operation of these systems.
The Hall-Effect Sensor segment led the Global Vehicles Intelligence Battery Sensor Market by Technology in 2023; thereby, achieving a market value of $4.1 billion by 2031. Hall-effect sensors are extensively employed in the automotive sector due to their cost-effectiveness, accuracy, and reliability. These sensors detect changes in magnetic fields, allowing them to accurately measure current flow and magnetic fields within the battery system.
The Battery Management System segment is growing at a CAGR of 11.1 % during the forecast period. Battery management systems are essential in modern vehicles, particularly electric and hybrid vehicles, where the battery is the primary power source. The IBS is essential in these systems because it provides precise, real-time data on critical battery parameters, including voltage, temperature, state of charge (SOC), and state of health (SOH).
Full Report: https://www.kbvresearch.com/vehicles-intelligence-battery-sensor-market/
The Asia Pacific region dominated the Global Vehicles Intelligence Battery Sensor Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3.1 billion by 2031. The Europe region is anticipated to grow at a CAGR of 11.1% during (2024 - 2031). Additionally, The North America region would witness a CAGR of 11.3% during (2024 - 2031).
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