Battery Design & Manufacturing Software Market Analysis

Battery Design & Manufacturing Software Market Analysis

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Based on category, the Battery Management System (BMS) segment generated a market revenue of around USD 437.78 million in 2023, due to its ability to optimize battery performance by managing the charging and discharging rates whilst preventing overcharging or deep discharging to extend battery life. Growing cruciality in stationary energy storage systems to cater to renewable energy applications will prove favorable for the product adoption. To cite an instance, in June 2023, ABB powered up one of the largest integrated grid-scale Battery Energy Storage Systems (BESS) for supporting the integration of renewable energy sources for Universal Power Solutions Inc.
 

Based on end users, the automotive segment accounted for 35% of the battery design & manufacturing software market share in 2023, attributed to the rising environmental concerns and government regulations aimed at reducing emissions. The higher incorporation of advanced battery systems in battery powered EVs is leading to the increased demand for software to optimize the design and manufacturing processes. The rapid advancements in materials, chemistry, and manufacturing processes along with the growing deployment of new technologies for improving battery performance will also boost the segment expansion.
 

Asia Pacific battery design & manufacturing software market size dominated around USD 764.68 million in 2023. As per statistics from Vahan, the EV registration in India rose to 10.20 lakh in 2022 from 3.29 lakh in 2021. The strong focus on clean energy is further driving heavy investments in renewable energy sources like solar and wind power. The surge in policies and regulations for promoting sustainable energy storage will further push the adoption of battery software in the region, further outlining the industry growth.