The global automotive intelligence battery sensor market size was USD 3.78 Billion in 2022 and is expected to register a revenue CAGR of 26% over the forecast period, according to the latest report by Reports and Data.
As EVs and HEVs become more popular, there is a greater demand for automotive intelligence battery sensors. To maintain battery performance and minimize failure, these sensors provide real-time monitoring and analysis of battery health, including temperature, voltage, and current. The market is also growing as battery sensor technology advances, such as the use of Artificial Intelligence (AI) and Machine Learning algorithms.
The demand for automotive intelligence battery sensors is further propelled by governmental regulations aimed at reducing vehicle emissions and improving fuel economy. For instance, the European Union has set a target to decrease carbon dioxide emissions from new cars by 37.5% by 2030 compared to 2021. Similarly, the US Corporate Average Fuel Economy (CAFE) regulations impose requirements on automakers to enhance the average fuel efficiency of their vehicles. Automotive intelligence battery sensors play a crucial role in achieving these goals by enabling real-time monitoring and optimization of battery health.
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The demand for automotive intelligence battery sensors is experiencing a significant surge, largely due to the influence of governmental regulations aimed at reducing vehicle pollutants and improving fuel economy. One compelling example of such regulations is the European Union’s ambitious target to slash carbon dioxide emissions from new cars by an impressive 37.5% by the year 2030 compared to the baseline year of 2021. These stringent emissions reduction targets are designed to combat climate change and promote the adoption of cleaner and more efficient vehicles.
Similarly, in the United States, the Corporate Average Fuel Economy (CAFE) regulations have been a driving force behind the development and implementation of automotive intelligence battery sensors. These regulations compel automakers to enhance the average fuel efficiency of their vehicle fleets. This is not only to reduce the environmental impact of vehicles but also to decrease the nation’s dependence on fossil fuels and enhance energy security.
In both cases, automotive intelligence battery sensors play a pivotal role in helping automakers meet these challenging regulatory requirements. These sensors provide real-time insights into the health and performance of electric vehicle (EV) batteries. By continuously monitoring the condition of batteries, these sensors enable automakers and vehicle owners to optimize battery usage, extend battery life, and maximize the overall efficiency of electric vehicles. This not only aids in reducing emissions and enhancing fuel economy but also contributes to the long-term sustainability and viability of EVs as a greener and more eco-friendly mode of transportation.
As governmental laws and regulations continue to evolve and become more stringent in their efforts to combat climate change and promote greener transportation options, the demand for automotive intelligence battery sensors is likely to remain on a steady upward trajectory. These sensors are essential components in the transition towards a cleaner and more sustainable automotive industry, making them a critical technology for the future of transportation.
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Major Regions Highlighted in the Global Automotive Intelligence Battery Sensor Market Report:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Top Companies Profiled in the Report:
Robert Bosch GmbH, Continental AG, NXP Semiconductors NV, Vishay Intertechnology, Inc., Inomatic GmbH, and Abertax Technologies Ltd.
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