Automotive Intelligent Battery Sensor Market Analysis
Market Synopsis:
According to Market Research Future (MRFR)’s published report, the global automotive intelligence battery sensor market is poised to proliferate at a robust CAGR of 11% during the forecast period 2018 to 2023. An intelligence battery sensor (IBS) is extensively used in an automobile for determining the current, voltage, temperature, and current energy status of the battery. Since most of the engine breakdowns occur because of the battery, the battery health plays a vital role in the maintenance of automobiles. The developments in automotive technology are expected to lead the growth of the automotive intelligence battery sensor market in the upcoming years.
Innovations in the automotive sector are highly inspired by the emission norms mandated by governments. As a move to curb carbon emission, the automotive intelligence battery sensor market is likely to witness rapid advancements in the foreseeable future. Furthermore, the focus on the development of fuel-efficient technologies is also prognosticated to have a positive influence on the expansion of the global market.
The rise in fuel prices coupled with the concern of CO2 emissions has led to a shift in the consumer behavior pattern towards electric cars. An upsurge in demand for electric vehicles has been foreseen which is projected to augment the automotive intelligence battery sensors market over the next couple of years. On the contrary, the high cost of these sensors is likely to check the expansion of the market over the assessment period.
Market Segmentation:
By technology, the global automotive intelligence battery sensor market has been segmented into motor controller unit (MCU), controller area network (CAN) and local interconnect network (LIN).
By voltage, the automotive intelligence battery sensor market has been segmented into 12 volt, 14 volt, 24 volt, and 48 volt.
By vehicle type, the global automotive intelligence battery sensor market has been segmented into passenger car and commercial vehicles.
By electric vehicle, the automotive intelligence battery sensor market has been segmented into battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles.
Regional Insights:
The global automotive intelligence battery sensor market, by region, has been segmented into North America, Europe, Asia Pacific and the Rest of the World (RoW). Asia Pacific is expected to hold the maximum share of the global market through the forecast period. The growing automotive sector of the country-level markets such as India, Japan, and China are poised to favor the expansion of the automotive intelligence battery sensor market in the region. Furthermore, the increasing demand for passenger as well as commercial vehicles is also projected to drive the growth f the market in the region.
Europe is prognosticated to take the second spot in the global marketplace. The region represents a consolidation of the global leaders of the automotive sector coupled with the early adoption of novel automotive technologies. The boom witnessed in the automotive industry of the region is expected to drive the proliferation of the automotive intelligence battery sensor market in the region.
Competitive Dashboard:
Some of the major players operating in the automotive intelligence battery sensor market are Continental AG (Germany), HELLA GmbH and Co. KGaA (Germany), Robert Bosch GmbH (Germany), Inomatic GmbH (Germany), AMS AG (Austria), Furukawa electric co., Ltd. (Japan), NXP Semiconductors (Netherlands), Vishay Intertechnology Inc. (U.S.), MTA S.p.A. (Italy), and DENSO CORPORATION (Japan).
Industry News:
In February 2019, oil supermajor – Shell has announced the acquisition of the German startup Sonnen for battery expansion.
In January 2019, Toyota Motor Corp., an automobile manufacturing company has partnered with electronics giant Panasonic Corp. for the establishment of a new company for the purpose of making batteries for automobiles, including electric cars, by 2020.