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Technavio, an international market research institution, recently released a report that from 2020 to 2024, the global battery analyzer market is expected to increase to $15.
17 million, with a compound annual growth rate of about 3%
during the period.
Factors such as growing demand for backup power solutions, increasing penetration of consumer electronics, and increasing government support for electric vehicles are cited in the report
.
However, fierce competition among existing competitors, emergence of fuel cell solutions, and technical challenges in battery testing may hamper the
growth of the market.
To take full advantage of these opportunities, suppliers should focus on growth prospects in fast-growing areas while maintaining their position in
slow-growing areas.
Asia Pacific will be the largest regional market
during the forecast period.
53% of the market growth will come from the Asia-Pacific region
.
China and Japan will be the major markets
for battery analyzers in the Asia-Pacific region.
Technavio, an international market research institution, recently released a report that from 2020 to 2024, the global battery analyzer market is expected to increase to $15.
17 million, with a compound annual growth rate of about 3%
during the period.
Factors such as growing demand for backup power solutions, increasing penetration of consumer electronics, and increasing government support for electric vehicles are cited in the report
.
However, fierce competition among existing competitors, emergence of fuel cell solutions, and technical challenges in battery testing may hamper the
growth of the market.
To take full advantage of these opportunities, suppliers should focus on growth prospects in fast-growing areas while maintaining their position in
slow-growing areas.
Asia Pacific will be the largest regional market
during the forecast period.
53% of the market growth will come from the Asia-Pacific region
.
China and Japan will be the major markets
for battery analyzers in the Asia-Pacific region.
