The rising deployment of electric vehicles in the transport fleets of various countries is an important factor propelling the demand for smart battery chargers across the world. Due to the rising emission levels and global warming, many countries are increasingly adopting electric vehicles in their transport fleets. Furthermore, the governments of several countries have enacted strict policies for curbing emissions, which is, in turn, boosting the sales of electric vehicles all over the world. The surging usage of electric vehicles will increase the requirement of smart batteries, which will subsequently create huge demand for smart battery chargers across the world.
In addition to the above-mentioned factor, the rising incorporation of internet of things (IoT) is also fuelling the soaring demand for smart battery chargers around the world. In the agriculture sector, the IoT-integrated smart farms rely on various nodes, spread over large areas of land, for collecting data on soil moisture, weather, evaporation, and several other parameters. These nodes are usually powered by batteries and depend on different kinds of energy harvesting methods, such as solar energy for supplementing the existing capacity of the battery.
Additionally, the flourishing telecom and consumer electronics industries are contributing heavily toward the ballooning sales of smart battery chargers across the globe. Due to these factors, the global smart battery charger market will demonstrate substantial growth over the next few years, as per the forecast of the market research company, P&S Intelligence. The smart battery chargers usually have at least three charging stages namely the boost stage, absorption stage, and float or maintenance stage. These chargers consist of various premium features such as the monitoring of temperature, charging process, batteries, and voltage and preventing the overcharging of the battery.
“Across the world, the smart battery charger market is currently exhibiting high growth in North America”. This is attributed to the large-scale utilization of electric vehicles and various smart electronic products such as smartphones in the North American countries, especially the U.S. For example, “the U.S. observed $55.6 billion worth of smartphone sales across the country in 2017, which was significantly higher than the $18 billion worth of smartphone sales recorded in the country in 2010".
Hence, it can be said with surety that the demand for smart battery chargers will increase tremendously all over the world in the upcoming years, primarily because of the rising utilization of various consumer electronics devices such as laptops and smartphones and the growing deployment of electric vehicles across the world.
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