Battery Monitoring Systems Market to Witness Growth Owing to Demand from Renewable Energy

By: Technavio
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* Battery Monitoring System

* Business

* Elmhurst - Illinois - US

ELMHURST, Ill. - July 8, 2020 - PRLog -- The global battery monitoring systems market is expected to grow at a CAGR of close to 23% during the forecast period.This research report titled 'Global Battery Monitoring Systems Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

The market research analysis categorizes the global battery monitoring systems into three major end-user segments. They are:
• Automotive
• Energy
• Telecom and data center

Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Global battery monitoring systems market by automotive industry
EVs were introduced in the early 1990s but lacked popularity among end-users in the initial years. However, improved energy density made possible due to technological advances, reduction in costs, and widespread awareness of the benefits of battery vehicles have led to the rise in popularity of EVs. A battery is a major component of an EV as it is the only source of power that is critical to run the motor and other elements in an EV.

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Global battery monitoring systems market by telecom and data center industry
Batteries are the major element in the telecom and data center sector. Owing to the rising number of power outages and voltage fluctuations, many telecom tower operators are using batteries to store energy and ensure uninterrupted power supply at all times. The use of batteries in renewable power supply also eliminates the need to depend on diesel generators for power generation in telecom tower and data centers.

The top vendors highlighted by Technavio's market research analysts in this report are:
• General Electric
• NDSL Group
• Vertiv

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Tags:Battery Monitoring System
Location:Elmhurst - Illinois - United States
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