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The global battery management system market is being led by the Asia Pacific region. The growth of the battery management systems in the Asia Pacific region can be attributed to increased sales of electric vehicles in countries such as China and Japan. The rise in sales is due to the increased efforts of the governments to minimise greenhouse gas emissions.
In November 2018, one of the key players, NXP Semiconductors N.V. (NASDAQ: NXPI), unveiled a new range of battery cell controllers for a wide variety of automotive battery management systems. In order to provide industry-leading measurement precision and reliability of embedded functional safety mechanisms, the advantages of the portfolio often improve NXP's platform approach for power controlling. The new battery cell controllers together with NXP's extensive range of world-class automotive microcontrollers (MCUs), SBCs, and communication transceptors provide easy to use reference design platforms to monitor high-power energy storage in modern electric vehicles. The platforms are created to help carmakers produce hybrid and electric vehicles of the next generation with greater speed as well as less risk of development. Such developments in the market are expected to propel the growth of the global battery management system market in the coming years.
Market Analysis by Battery Type, Component, Topology, Application, and Region:
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The major key players in the global battery management system market include companies like Lithium Werks B.V., Renesas Electronics Corporation, Analog Devices, Inc., Nuvation Energy, Sensata Technologies, Inc., NXP Semiconductors N.V. (NASDAQ: NXPI) and Johnson Matthey Plc, among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.
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