Battery Management Systems Market to be Worth $34.8 Billion by 2030

Considering the environmental benefits of EVs, governments are increasingly offering incentives and subsidies for purchasing EVs & implementing the associated charging infrastructure, boosting the demand for the energy infrastructure market for EV charging stations. However, the lack of infrastructure in emerging economies for the development of EVs and standardization in battery management solutions restrain the growth of this market. The complex design & manufacturing process is a major challenge for the players in this market. Additionally, the rise in electricity generation from renewable energy sources is a prominent trend in the battery management systems market.