Global Electric Vehicle Battery Management System Market Size, Forecast, and Trend Highlights Over 2025-2037
Electric Vehicle Battery Management System Market size is poised to expand from USD 11.37 billion to USD 351.32 billion, exhibiting a CAGR of more than 30.2% throughout the forecast period, from 2025 to 2037. In the year 2025, the industry size of electric vehicle battery management system is evaluated at USD 14.12 billion.
The rising use of EVs is boosting the need for increased running time of batteries, making battery management systems essential for monitoring the overall battery pack, including each battery cell. According to IEA 2024, around 14 million new electric cars were registered globally in 2023, bringing their total number on the roads to 40 million. Furthermore, electric car sales in the same year were 3.5 million higher in comparison to 2022, which indicated a 35% year-on-year increase. The rising adoption of EVs is directly boosting the market owing to the increasing need for battery maintenance.
In addition to these, a factor that is believed to fuel the market growth is the rising infrastructure of battery charging. There were 2.7 million public charging points globally by the end of 2022, with over 900,000 of them constructed in 2022, representing a 55% increase over the number in 2021. The presence of adequate charging infrastructure boosts the confidence among people to adopt EVs, which in turn increases the demand for EV battery management systems as well.
