The global lithium ion battery market was valued at $30.2B in 2017 and is projected to reach $100.4B in 2025.
This growth can be attributed to many industry and innovation drivers:
Industry Drivers
- Automotive
- Smartphones
- Laptops
- Power Banks
- Power Tools
Innovation Drivers
- Life Extension
- Energy Density/Weight
- Safety
- Cost Reduction
- Charging Speed
- Operating Temperature
- Battery Management System
As battery technology becomes more complex, we are seeing more battery management system components come into the market as well, including:
- Temperature sensors
- Voltage regulators
- Charge-state monitors
- Energy level monitors
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