The report, now available on ASDReports, recognizes the following companies as the key players in the Global Battery Monitoring Solutions Market: AB, BTECH, Cellwatch, Emerson, and GE-Alstom Grid.
Other Prominent Vendors in the market are: 6th Energy, Battery DAQ, Canara, PowerShield, Texas Instruments, and Vecture.
Commenting on the report, an analyst said: “One trend that is driving market growth is the intermittency of renewable energy. Countries globally have been supporting the shift from fossil fuel-based power production to renewable energy production with the aid of lucrative policies, incentives, and rebates. Over the past two decades, the share of renewable and alternate sources of energy in the global energy mix has risen with significant investments flowing from the US, China, and the EU.”
According to the report, a key growth driver is the rising popularity of electric vehicles. Globally, many countries are promoting the use of electrical vehicles, which have the potential to reduce pollution and dependence on fossil fuels by providing incentives for instance in the US all electric and plug in hybrid vehicles qualify for federal tax credit of $2500-$7500 and building the necessary infrastructure. This has resulted in continuous growth in battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) worldwide.
Further, the report states that one challenge that could restrict market growth is the operational challenges related to lead-acid batteries.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Read more on ASDReports!
Source: ASDReports - Market Research
Date: May 27, 2016