Battery Management Systems (BMS) Market

Industry Overview

A Battery Management System (BMS) is a crucial component in rechargeable battery technology as it monitors and controls the performance of individual cells within a battery pack. BMS ensures safe and efficient operation by overseeing parameters like voltage, current, temperature, and state of charge. It prevents overcharging or over-discharging, which can damage cells or lead to safety hazards. BMS also facilitates cell balancing, redistributing energy among cells to maintain uniform performance. In electric vehicles and renewable energy systems, BMS optimizes battery life and enhances overall system reliability, making it an essential technology for modern energy storage applications.

The global Battery Management Systems Market was worth USD 8.50 billion in 2023 and is expected to reach USD 21.50 billion by 2030 with a CAGR of 20.46% during the forecast period, i.e., 2025-2030. Graphene nanocomposite demand is rising due to the rising demand for electric vehicles, renewable energy integration, increased energy storage applications, and the need for enhanced battery safety and longevity.

Geographically, the battery management systems market is expanding rapidly in North America, Europe and the Asia Pacific, as a result of the increasing adoption of electric vehicles, renewable energy initiatives, stringent safety regulations, and growing investments in energy storage infrastructure; however, the market confronts constraints such as ensuring compatibility with diverse battery chemistries, addressing evolving safety standards, managing thermal issues, and developing cost-effective solutions. Overall, the global battery management systems market offers potential prospects for market participants to develop and fulfill the growing needs of wide range of industries including transportation, energy storage, consumer electronics, and other industries.

Battery Management Systems (BMS) Market Segmentation

Insight by Battery Type

Based on the battery type, the global battery management systems market is segmented into lithium-ion based batteries, advanced lead-acid batteries, nickel-based batteries, and flow batteries. In 2022, lithium-ion based batteries dominated the global battery management systems market due to their high energy density, long cycle life, and suitability for various applications. They power electric vehicles (EVs) like Tesla's Model S and Model 3, offering impressive range and performance. Additionally, Li-ion batteries are used in portable electronics like smartphones and laptops, exemplified by Apple's iPhone and MacBook series and the dominance stems from their efficiency in storing and delivering energy. BMS plays a critical role in optimizing these batteries' performance, ensuring safe operation, preventing overcharging or over-discharging, and prolonging their lifespan, further solidifying their position in the global battery management systems market.

Insight by Topology

Based on the topology, the global battery management systems market is segmented into modular, centralized, and distributed systems. In 2022, centralized topology dominated the global battery management systems market as this approach employs a single control unit to manage the entire battery pack, making it cost-effective and straightforward to implement. For instance, electric vehicles like the Nissan Leaf employ centralized BMS, efficiently overseeing the entire battery pack's performance. However, as the market advances, distributed and modular topologies are gaining traction. These offer advantages in terms of scalability and redundancy, as seen in advanced energy storage systems like those used in large-scale grid applications or data centers, where redundancy and scalability are crucial.

Global Battery Management Systems (BMS) Market Report Coverage

Industry Dynamics

Battery Management Systems (BMS) Market Growth Drivers

Rapid adoption of EVs

A major driver for the global Battery Management Systems (BMS) market is the rapid adoption of electric vehicles (EVs). The surge in demand for cleaner transportation options is compelling automotive manufacturers to invest heavily in battery technology. For instance, Tesla's Model 3, one of the best-selling EV models, relies on a sophisticated BMS to optimize battery performance and longevity. Additionally, government initiatives promoting EV adoption, such as tax incentives and emission reduction targets, further fuel the demand for advanced BMS solutions. This convergence of environmental consciousness, technological innovation, and policy support positions BMS as a critical enabler of the electric vehicle revolution, driving the global battery management systems market growth.

Growing number of renewable energy systems 

Another significant driver for the global battery management systems (BMS) market is the escalating deployment of renewable energy systems. As solar and wind power installations grow, efficient energy storage becomes imperative for grid stability. BMS ensures the reliable performance of energy storage systems, such as the Hornsdale Power Reserve in Australia, which uses Tesla's Powerpacks with advanced BMS for grid balancing. Furthermore, the integration of renewable energy with energy storage solutions enables better utilization of intermittent resources, reducing dependency on fossil fuels. This pivotal role in enhancing the reliability and efficiency of renewable energy systems propels the growth of the global battery management systems market.

Battery Management Systems (BMS) Market Challenge

Compatibility of new battery chemistries

A significant challenge for the global battery management systems market is ensuring compatibility with evolving battery chemistries. As researchers develop new battery technologies, BMS must adapt to effectively manage these diverse chemistries, each with unique characteristics and performance metrics. For instance, emerging technologies like solid-state batteries offer higher energy density and safety benefits, but require specialized BMS algorithms. Adapting existing BMS platforms to accommodate these innovations without sacrificing safety or efficiency is a critical challenge. The ability to seamlessly integrate with a range of chemistries will be pivotal in ensuring BMS remains a versatile and essential component in the rapidly evolving energy storage landscape.

Geographic Overview

• North America

• Europe

• Asia Pacific (APAC)

• Latin America

• Middle East and Africa (MEA)

The global battery management systems market is segmented into North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa region. The global battery management systems market was dominated by the Asia-Pacific in 2023 due to its robust manufacturing ecosystem for electronic components. Countries like China, Japan, and South Korea are key players in battery production. For instance, CATL, a Chinese battery manufacturer, supplies batteries to major electric vehicle makers globally. Additionally, APAC nations are at the forefront of electric vehicle adoption, driven by supportive government policies and environmental concerns. India's ambitious goal to achieve 30% electric vehicle penetration by 2030 and South Korea's investment in EV infrastructure exemplify the region's commitment. This, coupled with the established manufacturing base, solidifies APAC's dominance in the battery management systems market.

Battery Management Systems (BMS) Market Competitive Insight

Samsung SDI is a prominent player in the global battery management systems market owing to its expertise in battery technology. The company offers advanced BMS solutions and its systems are integral to various applications, including electric vehicles (EVs) and energy storage systems. For instance, Samsung SDI's BMS technology enhances the performance and safety of the lithium-ion batteries used in EVs like BMW's i3 electric car. Additionally, their BMS solutions are deployed in stationary energy storage systems, optimizing battery performance and extending overall lifespan. This demonstrates Samsung SDI's significant contribution to the BMS industry, solidifying its position as a key player in the battery management systems market.

Panasonic is another prominent player in the global battery management systems market and is renowned for its expertise in battery technology. Panasonic provides sophisticated BMS solutions that enhance the performance and safety of its lithium-ion battery offerings and these systems find widespread application in electric vehicles (EVs) and energy storage solutions. Notably, Panasonic's BMS technology contributes to the success of Tesla's electric vehicles, such as the Model S and Model 3, showcasing their integral role in EV performance and longevity. This exemplifies Panasonic's pivotal position in the BMS market, reflecting their significant impact on advancing battery management technology worldwide.

Recent Development by Key Players

Honeywell announced that it will collaborate with Nuvation Energy to integrate an improved battery management system (BMS) into Honeywell Ionic, its modular battery energy storage system. Nuvation’s BMS is one of the first of its kind and provides users with significant flexibility and greater insights into the battery’s performance and offers a cost-competitive and reliable solution for commercial and industrial customers

Clarios, an automotive battery solutions provider, announced that it will acquire Paragon GmbH & Co. KGaA's power business that produces batteries and battery management systems for the automobile industry. The latest acquisition aligns with Clarios’ focus on low-voltage vehicle architecture and systems, and the company is expecting that the acquisition will complement the company's engineering team and its low voltage and Li-ion programs.

Key Players Covered in the Report

Nuvation Engineering, Johnson Matthey, Lithium Balance, Texas Instruments, Toshiba Corporation, Eberspächer, AVL List GmbH, Elithion Inc., Storage Battery Systems, LLC, Continental AG, Analog Devices Inc., Renesas Electronics Corporation, Victron Energy B.V., NXP Semiconductors, Leclanché SA, Navitas Systems, LLC, Panasonic Corporation, Samsung SDI Co., Ltd., LG Chem Ltd., and NEC Energy Solutions.

The Battery Management Systems Market Report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

• Battery Type

• Lithium-ion based batteries

• Advanced lead-acid batteries

• Nickel-based batteries

• Flow batteries

• Topology

• Modular

• Centralized

• Distributed

Region Covered in the Report

• North America

• U.S.

• Canada

• Mexico

• Europe

• Germany

• U.K.

• France

• Italy

• Spain

• Russia

• Rest of Europe

• Asia-Pacific (APAC)

• China

• Japan

• Vietnam

• India

• South Korea

• Rest of Asia-Pacific

• Middle East and Africa (MEA)

• UAE

• Saudi Arabia

• South Africa

• Rest of MEA

• Latin America

• Argentina

• Brazil

• Chile

• Rest of LATAM

Primary Research Interviews Breakdown

1.    Research Overview

        1.1.    The Report Offers
        1.2.    Market Coverage
                  1.2.1.   By Battery Type
                  1.2.2.   By Topology
                  1.2.3.   By Region
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Market Methodology
                  1.5.1.  Data Sources
                             1.5.1.1. Primary Research
                             1.5.1.2. Secondary Research
                  1.5.2.   Methodology
                              1.5.2.1. Data Exploration
                              1.5.2.2. Forecast Parameters
                              1.5.2.3. Data Validation
                              1.5.2.4. Assumptions
                  1.5.3.   Study Period & Data Reporting Unit

2.    Executive Summary

3.    Industry Overview

        3.1.   Industry Dynamics
                 3.1.1.  Market Growth Drivers
                 3.1.2.  Market Restraints
                 3.1.3.  Key Market Trends
                 3.1.4.  Major Opportunities
        3.2.    Industry Ecosystem
                  3.2.1.  Porter’s Five Forces Analysis
                  3.2.2.  Recent Development Analysis
                  3.2.3.  Value Chain Analysis
        3.3.    Competitive Insight
                  3.3.1.  Competitive Position of Industry Players
                  3.3.2.    Market Attractive Analysis
                  3.3.3.    Market Share Analysis

4.    Global Market Estimate and Forecast

        4.1.    Global Market Overview
        4.2.    Global Market Estimate and Forecast to 2030

5.    Market Segmentation Estimate and Forecast

        5.1.    By Battery Type
                  5.1.1.  Lithium-On based Batteries
                             5.1.1.1. Market Definition
                             5.1.1.2. Market Estimation and Forecast to 2030 
                  5.1.2.  Advanced Lead-Acid Batteries
                             5.1.2.1. Market Definition
                             5.1.2.2. Market Estimation and Forecast to 2030
                  5.1.3.  Nickel-Based Batteries
                             5.1.3.1.  Market Definition
                             5.1.3.2.  Market Estimation and Forecast to 2030 
                  5.1.4.  Flow Batteries
                             5.1.4.1. Market Definition
                             5.1.4.2. Market Estimation and Forecast to 2030
        5.2.    By Topology
                  5.2.1.  Modular
                             5.2.1.1.  Market Definition
                             5.2.1.2.  Market Estimation and Forecast to 2030
                  5.2.2.  Centralized
                              5.2.2.1. Market Definition
                              5.2.2.2. Market Estimation and Forecast to 2030
                  5.2.3.   Distributed Systems
                              5.2.3.1. Market Definition
                              5.2.3.2. Market Estimation and Forecast to 2030       
6.    North America Market Estimate and Forecast

        6.1.   By Battery Type
        6.2.   By Topology
        6.3.   By Country
                 6.3.1.    U.S. Market Estimate and Forecast
                 6.3.2.    Canada Market Estimate and Forecast
                 6.3.3.    Mexico Market Estimate and Forecast

7.    Europe Market Estimate and Forecast

        7.1.   By Battery Type
        7.2.   By Topology
        7.3.   By Country
                 7.3.1.    Germany Market Estimate and Forecast
                 7.3.2.    France Market Estimate and Forecast
                 7.3.3.    U.K. Market Estimate and Forecast
                 7.3.4.    Italy Market Estimate and Forecast
                 7.3.5.    Spain Market Estimate and Forecast
                 7.3.6.    Rest of Europe Market Estimate and Forecast

8.    Asia-Pacific Market Estimate and Forecast

        8.1.    By Battery Type
        8.2.    By Topology       
        8.3.    By Country
                  8.3.1.    China Market Estimate and Forecast
                  8.3.2.    Japan Market Estimate and Forecast
                  8.3.3.    India Market Estimate and Forecast
                  8.3.4.    South Korea Market Estimate and Forecast
                  8.3.5.    Singapore Market Estimate and Forecast
                  8.3.6.    Rest of Asia-Pacific Market Estimate and Forecast

9.    Rest of the World (RoW) Market Estimate and Forecast

        9.1.    By Battery Type
        9.2.    By Topology          
        9.3.    By Country
                  9.3.1.    Brazil Market Estimate and Forecast
                  9.3.2.    Saudi Arabia Market Estimate and Forecast
                  9.3.3.    South Africa Market Estimate and Forecast
                  9.3.4.    Other Countries Market Estimate and Forecast

10.    Company Profiles

        10.1.  Nuvation Engineering
                10.1.1.    Snapshot
                10.1.2.    Overview
                10.1.3.    Offerings
                10.1.4.    Financial Insight
                10.1.5.    Recent Developments
        10.2.  Johnson Matthey
                10.2.1.    Snapshot
                10.2.2.    Overview
                10.2.3.    Offerings
                10.2.4.    Financial Insight
                10.2.5.    Recent Developments
        10.3. Lithium Balance
                10.3.1.    Snapshot
                10.3.2.    Overview
                10.3.3.    Offerings
                10.3.4.    Financial Insight
                10.3.5.    Recent Developments
        10.4.  Texas Instruments
                10.4.1.    Snapshot
                10.4.2.    Overview
                10.4.3.    Offerings
                10.4.4.    Financial Insight
                10.4.5.    Recent Developments
        10.5.  Toshiba Corporation
                10.5.1.    Snapshot
                10.5.2.    Overview
                10.5.3.    Offerings
                10.5.4.    Financial Insight
                10.5.5.    Recent Developments
        10.6. Eberspächer
                10.6.1.    Snapshot
                10.6.2.    Overview
                10.6.3.    Offerings
                10.6.4.    Financial Insight
                10.6.5.    Recent Developments
        10.7.  AVL List GmbH
                10.7.1.    Snapshot
                10.7.2.    Overview
                10.7.3.    Offerings
                10.7.4.    Financial Insight
                10.7.5.    Recent Developments
        10.8.  Elithion Inc.
                10.8.1.    Snapshot
                10.8.2.    Overview
                10.8.3.    Offerings
                10.8.4.    Financial Insight
                10.8.5.    Recent Developments
        10.9.  Storage Battery Systems
                10.9.1.    Snapshot
                10.9.2.    Overview
                10.9.3.    Offerings
                10.9.4.    Financial Insight
                10.9.5.    Recent Developments
        10.10. LLC
                  10.10.1. Snapshot
                  10.10.2. Overview
                  10.10.3. Offerings
                  10.10.4. Financial Insight
                  10.10.5. Recent Developments
    10.11. Continental AG
               10.11.1. Snapshot
               10.11.2. Overview
               10.11.3. Offerings
               10.11.4. Financial Insight
               10.11.5. Recent Developments
    10.12. Analog Devices Inc.
              10.12.1. Snapshot
              10.12.2. Overview
              10.12.3. Offerings
              10.12.4. Financial Insight
              10.12.5. Recent Developments
    10.13. Renesas Electronics Corporation
               10.13.1. Snapshot
               10.13.2. Overview
               10.13.3. Offerings
               10.13.4. Financial Insight
               10.13.5. Recent Developments
    10.14  Victron Energy B.V.
               10.14.1. Snapshot
               10.14.2. Overview
               10.14.3. Offerings
               10.14.4. Financial Insight
               10.14.5. Recent Developments
    10.15. NXP Semiconductors
               10.15.1. Snapshot
               10.15.2. Overview
               10.15.3. Offerings
               10.15.4. Financial Insight
               10.15.5. Recent Developments
    10.16. Leclanché SA
               10.16.1. Snapshot
               10.16.2. Overview
               10.16.3. Offerings
               10.16.4. Financial Insight
               10.16.5. Recent Developments
    10.17. Navitas Systems 
               10.17.1. Snapshot
               10.17.2. Overview
               10.17.3. Offerings
               10.17.4. Financial Insight
               10.17.5. Recent Developments
    10.18.  LLC
                10.18.1. Snapshot
                10.18.2. Overview
                10.18.3. Offerings
                10.18.4. Financial Insight
                10.18.5. Recent Developments
    10.19.  Panasonic Corporation
                10.19.1. Snapshot
                10.19.2. Overview
                10.19.3. Offerings
                10.19.4. Financial Insight
                10.19.5. Recent Developments
    10.20.  Samsung SDI Co.
                10.20.1. Snapshot
                10.20. Overview
                10.20.3. Offerings
                10.20.4. Financial Insight
                10.20.5. Recent Developments
    10.21.  LG Chem Ltd.
                10.21.1. Snapshot
                10.21. Overview
                10.21.3. Offerings
                10.21.4. Financial Insight
                10.21.5. Recent Developments
    10.22   NEC Energy Solutions
                10.22.1. Snapshot
                10.22. Overview
                10.22.3. Offerings
                10.22.4. Financial Insight
                10.22.5. Recent Developments
11.    Appendix

        11.1.    Exchange Rates
        11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to the availability of information in the secondary domain.

List of Tables

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Battery Management Systems (BMS) Market Size, by Battery Type, 2018 – 2023 (USD Billion)
Table 5 Global Battery Management Systems (BMS) Market Size, by Battery Type, 2025 – 2030 (USD Billion)
Table 6 Global Battery Management Systems (BMS) Market Size, by Topology, 2018 – 2023 (USD Billion)
Table 7 Global Battery Management Systems (BMS) Market Size, by Topology, 2025 – 2030 (USD Billion)
Table 10 Global Battery Management Systems (BMS) Market Size, by Region, 2018 – 2023 (USD Billion)
Table 11 Global Battery Management Systems (BMS) Market Size, by Region, 2025 – 2030 (USD Billion)
Table 12 North America Battery Management Systems (BMS) Market Size, by Battery Type, 2018 – 2023 (USD Billion)
Table 13 North America Battery Management Systems (BMS) Market Size, by Battery Type, 2025 – 2030 (USD Billion)
Table 14 North America Battery Management Systems (BMS) Market Size, by Topology, 2018 – 2023 (USD Billion)
Table 15 North America Battery Management Systems (BMS) Market Size, by Topology, 2025 – 2030 (USD Billion)
Table 18 North America Battery Management Systems (BMS) Market Size, by Country, 2018 – 2023 (USD Billion)
Table 19 North America Battery Management Systems (BMS) Market Size, by Country, 2025 – 2030 (USD Billion)
Table 20 Europe Battery Management Systems (BMS) Market Size, by Battery Type, 2018 – 2023 (USD Billion)
Table 21 Europe Battery Management Systems (BMS) Market Size, by Battery Type, 2025 – 2030 (USD Billion)
Table 22 Europe Battery Management Systems (BMS) Market Size, by Topology, 2018 – 2023 (USD Billion)
Table 23 Europe Battery Management Systems (BMS) Market Size, by Topology, 2025 – 2030 (USD Billion)
Table 26 Europe Battery Management Systems (BMS) Market Size, by Country, 2018 – 2023 (USD Billion)
Table 27 Europe Battery Management Systems (BMS) Market Size, by Country, 2025 – 2030 (USD Billion)
Table 28 Asia-Pacific Battery Management Systems (BMS) Market Size, by Battery Type, 2018 – 2023 (USD Billion)
Table 29 Asia-Pacific Battery Management Systems (BMS) Market Size, by Battery Type, 2025 – 2030 (USD Billion)
Table 30 Asia-Pacific Battery Management Systems (BMS) Market Size, by Topology, 2018 – 2023 (USD Billion)
Table 31 Asia-Pacific Battery Management Systems (BMS) Market Size, by Topology, 2025 – 2030 (USD Billion)
Table 34 Asia-Pacific Battery Management Systems (BMS) Market Size, by Country, 2018 – 2023 (USD Billion)
Table 35 Asia-Pacific Battery Management Systems (BMS) Market Size, by Country, 2025 – 2030 (USD Billion)
Table 36 RoW Battery Management Systems (BMS) Market Size, by Battery Type, 2018 – 2023 (USD Billion)
Table 37 RoW Battery Management Systems (BMS) Market Size, by Battery Type, 2025 – 2030 (USD Billion)
Table 38 RoW Battery Management Systems (BMS) Market Size, by Topology, 2018 – 2023 (USD Billion)
Table 39 RoW Battery Management Systems (BMS) Market Size, by Topology, 2025 – 2030 (USD Billion)
Table 42 RoW Battery Management Systems (BMS) Market Size, by Country, 2018 – 2023 (USD Billion)
Table 43 RoW Battery Management Systems (BMS) Market Size, by Country, 2025 – 2030 (USD Billion)
Table 44 Snapshot – Nuvation Engineering
Table 45 Snapshot – Johnson Matthey
Table 46 Snapshot – Lithium Balance
Table 47 Snapshot – Texas Instruments
Table 48 Snapshot – Toshiba Corporation
Table 49 Snapshot – Eberspächer
Table 50 Snapshot – AVL List GmbH
Table 51 Snapshot – Elithion Inc.
Table 52 Snapshot – Storage Battery Systems
Table 53 Snapshot – LLC
Table 54 Snapshot – Continental AG
Table 55 Snapshot – Analog Devices Inc.
Table 56 Snapshot – Renesas Electronics Corporation
Table 57 Snapshot – Victron Energy B.V.
Table 58 Snapshot – NXP Semiconductors
Table 59 Snapshot – Leclanché SA
Table 60 Snapshot – Navitas Systems
Table 61 Snapshot – Panasonic Corporation
Table 62 Snapshot – Samsung SDI Co.
Table 63 Snapshot – LG Chem Ltd.
Table 64 Snapshot – NEC Energy Solutions

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9  Global Battery Management Systems (BMS) Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Battery Management Systems (BMS) Market Highlight
Figure 12 Global Battery Management Systems (BMS) Market Size,  By Battery Type, 2018 - 2030 (USD Billion)
Figure 13 Global Battery Management Systems (BMS) Market Size, by Topology, 2018 - 2030 (USD Billion)
Figure 15 Global Battery Management Systems (BMS) Market Size, by Region, 2018 - 2030 (USD Billion)
Figure 16 North America Battery Management Systems (BMS) Market Highlight
Figure 17 North America Battery Management Systems (BMS) Market Size,  By Battery Type, 2018 - 2030 (USD Billion)
Figure 18 North America Battery Management Systems (BMS) Market Size, by Topology, 2015–2025 (USD Billion)
Figure 20 North America Battery Management Systems (BMS) Market Size, by Country, 2018 - 2030 (USD Billion)
Figure 21 Europe Battery Management Systems (BMS) Market Highlight
Figure 22 Europe Battery Management Systems (BMS) Market Size,  By Battery Type, 2018 - 2030 (USD Billion)
Figure 23 Europe Battery Management Systems (BMS) Market Size, by Topology, 2018 - 2030 (USD Billion)
Figure 25 Europe Battery Management Systems (BMS) Market Size, by Country, 2018 - 2030 (USD Billion)
Figure 26 Asia-Pacific Battery Management Systems (BMS) Market Highlight
Figure 27 Asia-Pacific Battery Management Systems (BMS) Market Size,  By Battery Type, 2018 - 2030 (USD Billion)
Figure 28 Asia-Pacific Battery Management Systems (BMS) Market Size, by Topology, 2018 - 2030 (USD Billion)
Figure 30 Asia-Pacific Battery Management Systems (BMS) Market Size, by Country, 2018 - 2030 (USD Billion)
Figure 31 RoW Battery Management Systems (BMS) Market Highlight
Figure 32 RoW Battery Management Systems (BMS) Market Size,  By Battery Type, 2018 - 2030 (USD Billion)
Figure 33 RoW Battery Management Systems (BMS) Market Size, by Topology, 2018 - 2030 (USD Billion)
Figure 35 RoW Battery Management Systems (BMS) Market Size, by Country, 2018 - 2030 (USD Billion)