The increasing demand for Battery Management Systems comes from renewable energy systems and the need for an effective electric grid system. The global battery management system market size is estimated to grow from USD 5.4 billion in 2019 to USD 17.8 billion by 2026, at a CAGR of 18.6%. The automotive industry uses battery management systems for various applications like E-bikes, Automotive guided vehicles, and electric cars. Moreover, to control several functions and also to ensure safe and proper operation of batteries, battery management systems are required.
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