𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐭𝐡𝐞 𝐑𝐨𝐥𝐞 𝐨𝐟 𝐋𝐢𝐭𝐡𝐢𝐮𝐦-𝐈𝐨𝐧 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐒𝐲𝐬𝐭𝐞𝐦 𝐢𝐧 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬

 A lithium-ion battery (LIB) is a type of rechargeable battery, which is commonly used in various industrial applications, such as automotive, medical devices, portable electronics, and even in aerospace. LIB is very popularly used in the field of electric vehicles because of high energy concentration, lightweight, and long cycle life; thereby, guaranteeing the safety and extended service life. Further, a battery management system (BMS) helps in monitoring the battery usage and plays a vital role in performance of a battery. This system additionally manages rechargeable battery by having a control over its operating area, balancing it, and defending the battery of an electric vehicle. Therefore, escalation in the demand of electric vehicles drives the adoption of lithium-ion battery management system. The reduced cost of lithium-ion batteries and high acceptance of these batteries in applications such as electric vehicles and renewable energy structures are expected to drive the market growth.

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Growth in trend of electric vehicles, need for effective electric grid management, and increase in requirement for battery monitoring in renewable energy systems drive the growth of the global market. However, lack of standardized regulations for developing lithium-ion battery management systems is expected to hamper the growth of the market. On the contrary, increase in adoption of battery-operated public transport vehicles & government initiatives encouraging the use of electric vehicles and setting up of e-charging stations creates a favorable condition for the adoption of electric vehicles, which are anticipated to provide lucrative opportunity for the market growth.

The transportation segment is the second largest contributor to the carbon-emissions after the industrial segment and due to increase in the prices of petrol and diesel, an indirect push toward the battery-operated vehicles has been observed. Several carbon-discharge controlling regulations regarding fuel-operated buses have compelled manufacturers to take measures for reducing its fuel consumption significantly; thereby increasing 100,000 electric buses on road by 2020. With increase in number of electric buses deployed, there will be reduction in the emission of greenhouse gases and air pollutants. Therefore, growing demand for low-carbon emitting buses boosts the growth of the automotive lithium-ion battery management system market.

The transportation segment is the second largest contributor to the carbon-emissions after the industrial segment and due to increase in the prices of petrol and diesel, an indirect push toward the battery-operated vehicles has been observed. Several carbon-discharge controlling regulations regarding fuel-operated buses have compelled manufacturers to take measures for reducing its fuel consumption significantly; thereby increasing 100,000 electric buses on road by 2020. With increase in number of electric buses deployed, there will be reduction in the emission of greenhouse gases and air pollutants. Therefore, growing demand for low-carbon emitting buses boosts the growth of the automotive lithium-ion battery management system market.

𝙌𝙪𝙚𝙨𝙩𝙞𝙤𝙣𝙨 𝙖𝙣𝙨𝙬𝙚𝙧𝙚𝙙 𝙞𝙣 𝙩𝙝𝙚 𝙜𝙡𝙤𝙗𝙖𝙡 𝙖𝙪𝙩𝙤𝙢𝙤𝙩𝙞𝙫𝙚 𝙡𝙞𝙩𝙝𝙞𝙪𝙢-𝙞𝙤𝙣 𝙗𝙖𝙩𝙩𝙚𝙧𝙮 𝙢𝙖𝙣𝙖𝙜𝙚𝙢𝙚𝙣𝙩 𝙨𝙮𝙨𝙩𝙚𝙢 𝙢𝙖𝙧𝙠𝙚𝙩 𝙧𝙚𝙨𝙚𝙖𝙧𝙘𝙝 𝙧𝙚𝙥𝙤𝙧𝙩:

Which are the leading market players active in the automotive lithium-ion battery management system?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What are the projections for the future that would help in taking further strategic steps?

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