Battery Management System Market Size

Battery Management System Market size was over USD 8.56 billion in 2024 and is set to reach USD 91.14 billion by the end of 2037, witnessing around 19.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of battery management system is assessed at USD 9.92 billion.

The growth of the market can be attributed to the demand for battery management systems in the smartphone industry since smartphones are electronic devices that have an escalated requirement of battery in each unit. Hence, the surge in the sales and production volume of smartphones is anticipated to propel the market growth during the forecast period. For instance, in 2022, it was estimated that nearly 6 billion people across the globe were observed to be using smartphones.

In addition to these, global battery management system markets trends such as the surge in the utilization of batteries in various products that are wireless electronics, toys, handheld power tools, and others are expected to influence the market growth positively over the forecast period. For instance, in 2022, around USD 30 billion were generated from the sales of electric toys in the United States alone. Furthermore, escalating demand for the management of lithium-ion batteries backed by the growing consumer electronic industry is also expected to enlarge the market size over the forecast period.