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Smart Battery Charger Market Overview
The major trend identified in the global smart battery charger market is rapid development in the electric vehicle smart charging management system. Traditional charger are not connected to the cloud, but with smart battery charger, one can monitor, manage, and restrict the use of one’s device remotely to optimize energy consumption. Further, in order to create a more sustainable energy system based on renewable energy sources, electric vehicle chargers and charging systems need to be smart.
A smart battery charger has a minimum of three charging stages with a basic smart charger starting in a boost stage, then moving into the absorption stage, and finally, finishing on either a float or maintenance stage of charge. It consists of high-tech features, such as protection from overcharging and monitoring of batteries, temperature, voltage, and charging process; and can communicate with smart battery pack’s battery management system (BMS), that is, an electronic system that manages rechargeable battery by controlling its environment and protecting the battery. Smart battery chargers are controlled by microprocessors. The smart battery charger market is segmented based on charger type, application, and region.
The smart battery charger market is categorized on the basis of charger type into wired and wireless. Between these, the wired charger type category holds the notable share in the market, owing to its large use in various applications, such as laptops and smartphones due to comparatively low cost . Further, most of the electronic devices support the wired smart battery chargers, which is also impacting the market in a positive way.
The market in terms of application is categorized into smartphones, laptops, electric vehicles, tablets, and others. As per Statista, in 2016, globally, sale of smartphones in 2016 reached to around 1.5 billion units , a significant increase from 680 million in 2012, and is expected to increase to 37 percent by 2020. Hereby, owing to these factors, among all, the smartphones category holds the considerable share in the smart battery charger market. Further, for the ease of user experience, both smart battery and smart charger are required to have long shelf life, quick charging, and slow discharging features.
Based on region, the smart battery charger market is categorized into North America, Europe, Latin America (LATAM), Asia-Pacific (APAC), and Middle East and Africa (MEA). North America accounts for substantial share in the market due to high adoption of smart electronic devices and electric vehicels in the region mainly in the U.S. For instance, in the U.S. alone, sales of smartphones in 2017 reached to $55.6 billion in 2017 from from $18 billion in 2010. Also, in the U.S., smartphone users increased to 69.6% from nearly 40% in 2012.
Smart Battery Charger Market Dynamics
The continuously increasing development in various industries, such as consumer electronics and telecom, drives the smart battery charger market. Further, the increasing adoption of electric vehicles in order to reduce the use of fossil fuels also propels the demand for smart battery, which, directly boosts the demand for smart battery charger.
Moreover, the internet of things (IoT), with its emphasis on massive data collection from distributed nodes, is driving advances in energy technology. For instance, in agriculture, the smart farm relies on numerous nodes, spread across hundreds of acres, to collect data on weather, soil moisture level, evaporation, and so forth. These nodes are typically battery-powered and rely on energy-harvesting techniques, such as solar power to supplement existing battery capacity.
The high cost of smart battery charger and expensive replacement in case of damage are some of the major factors that restrain the growth of the market.
Smart Battery Charger Market Competitive Landscape
Some of the major companies operating in the global smart battery charger market are Accutronics Ltd., Analytic Systems Ware Ltd., Associated Equipment Corporation, Energizer Holdings Inc., Exide Technologies, Storage Battery Systems LLC, FRIWO Gerätebau GmbH, HindlePower Inc., Panasonic Corporation, and Delta-Q Corporation.
The study provides the detailed study of the smart battery charger market for the period 2014–2030. The major countries covered for the analysis are the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, South Korea, Brazil, Argentina, Saudi Arabia, and South Africa.
Smart Battery Charger Market Size Breakdown by Segment
The smart battery charger market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Charger Type
Based on Application