Intelligent battery sensor market to reach $18.6 billion by 2032

The intelligent battery sensor (IBS) market size was valued at USD 7.31 Billion in 2023 and is expected to reach USD 18.59 Billion by 2032, growing at a CAGR of 10.96% over the forecast period 2024-2032, according to a study by market research and consulting agency SNS Insider. 

The intelligent battery sensor (IBS) market is witnessing significant growth, driven by the rising adoption of electric and hybrid vehicles, increasing demand for battery management systems, and the integration of smart automotive technologies. 

As governments worldwide impose stringent emission regulations and offer subsidies for EV adoption, automakers are incorporating IBS to enhance battery efficiency, lifespan, and real-time monitoring. Additionally, the growing penetration of start-stop systems, telematics, and fleet management solutions is further accelerating market expansion, the report says.

Leading market players in this sector include Robert Bosch, Continental AG, HELLA, NXP Semiconductors, Midtronics, and Valence.  

“Advanced features such as AI-driven predictive maintenance, real-time anomaly detection, and cloud-enabled monitoring are optimizing battery performance and preventing unexpected failures in automotive and energy storage applications,” SNS Insider said in a media release. “Furthermore, technical advancements in interoperability, low-latency communication, and self-diagnostic capabilities are enhancing IBS reliability, making them essential for both vehicle safety and industrial applications.”

In 2023, integrated sensors dominated the IBS market with a 38.9% share, driven by their ability to combine voltage, current, and temperature sensing into a single unit. This integration enhances battery performance, efficiency, and safety, making them a preferred choice for automotive and industrial applications.

The voltage sensor segment is projected to experience the highest CAGR from 2024 to 2032, fueled by the increasing demand for real-time battery monitoring in electric vehicles (EVs) and renewable energy storage systems. These sensors play a crucial role in optimizing power efficiency and supporting the advancement of future technologies.

In 2023, passenger vehicles led the IBS market with a 47.8% share, driven by the rising adoption of battery management solutions in traditional and hybrid vehicles. The growing emphasis on fuel efficiency, emission reduction, and vehicle electrification has accelerated IBS demand in this segment.

In 2023, OEMs dominated the Intelligent Battery Sensor (IBS) market with a 71.8% share, driven by direct IBS installations in newly manufactured vehicles to enhance battery health and longevity, particularly in BEV-powered passenger and commercial vehicles.

Battery Management Systems (BMS) led IBS applications with a 44.2% market share, fueled by the growing need for optimized battery performance in electric and hybrid vehicles.

“In 2023, Asia Pacific led the Intelligent Battery Sensor (IBS) market with a 31.7% share, driven by strong automobile manufacturing, EV production, and battery technology advancements,” the report says. “North America is projected to grow fastest from 2024 to 2032, fueled by rising EV adoption, emission regulations, and advancements in telematics and smart batteries.”