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Share this article Share this article NEW YORK, April 1, 2021 /PRNewswire/ New Zealand joined the Electric Vehicles (EV) Initiative in 2019, aiming to become a carbon-free economy by 2050. With other countries around the world too taking such initiative to check the rate of environmental degradation, the demand for EVs is booming. Resultingly, the global   battery management system market value is projected to grow from $5,661.0 million in 2020 to $22,279.6 million by 2030, at a 15.0% CAGR between 2021 and 2030, according to P&S Intelligence. This is because the key component of EVs is the battery, which provides them with the propulsive power. The battery management system is needed to control and track the charging and discharging process, monitor the health of the battery, and provide information on the amount of charge remaining. Thus, the declining prices of automotive batteries, especially lithium-ion (Li-ion) batteries, are driving the battery management system market,

Prajneesh kumarPanasonic corporationEberspaecher vecture incBattery management system market researchNuvation energyCummins incAerospace defenseRenesas electronics corporationConsumer electronicsStorage battery systemsInternational energy agencyElithion incVehicles ev initiativeNavitas systemsElectric vehiclesGlobal battery management system