Thin Film Battery Market is Expected to be Dominated by the APAC Region through 2028
Global thin film battery market
is expected to grow owing to the rising demand for electric vehicles (EVs)
throughout the forecast period.
According to TechSci Research
report, “Thin Film Battery- Global Industry Size, Share, Trends,
Opportunity, and Forecast 2018-2028”, the market is expected to
register robust growth during the forecast period owing to the growing use of
thin film batteries in sensor networks, smartphones, and phablets, as well as
rising consumer awareness of the dangers of lithium-ion batteries.
Additionally, it is projected that significant technological developments in
thin-film batteries would open new market potential in terms of charge density
and life lifetime, thus driving the market growth during the forecast period.
The development of IoT and
wireless sensor technologies has led to a rapid uptake of wireless sensors
throughout the world. Wireless sensors are now being employed in situations
where they have not before been used due to the rapid development of
energy-harvesting technologies like thin film and printed flexible batteries.
Micro batteries superior form factors, ultra-thin profiles, and minimal leakage
traits make it possible to harvest energy. Thin film and printed battery
manufacturers anticipate that the rising popularity of energy-harvesting-based
autonomous wireless sensors will create new business opportunities.
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The global thin film battery
market is segmented based on battery type, voltage, application, and region.
Based on battery type, the market is bifurcated into disposable and
rechargeable. Based on voltage, the market is bifurcated into below 1.5V, 1.5V
to 3V, and above 3V. Based on application, the market is bifurcated into
wearable devices, medical, consumer electronics, smart cards, and others. Based
on region, the market is further bifurcated into North America, Asia-Pacific,
Europe, South America, and Middle East & Africa.
Based on application, consumer
electronics segment is expected to dominate the market during 2022.
Flexible batteries would allow consumer products to have new functions beyond
what is currently possible. These qualities include flexibility, printability,
and thinness. The development of flexible batteries by consumer electronics
firms for the new kind of cell phones, which may be curved, flexible, and wrap
around the wrist, is assisting in the market's expansion. Efforts to boost
energy density for use in practical applications can be realized with the
advancement of battery technology. Therefore, consumer electronics can
incorporate flexible batteries.
Based on region, Asia-Pacific
region is expected to dominate the market during
2022. Asia-Pacific holds a dominant position in this market as it is home to
some of the largest semiconductor and electronics companies in the world,
including Taiwan Semiconductor Manufacturing Company (Taiwan), Samsung
Electronics (South Korea), LG Electronics (South Korea), Sony Corporation (Japan),
and others. It is anticipated that the region will adopt new technology and
innovation potential more quickly than other parts of the world. In this
region, numerous businesses and academic institutions have committed resources
to the creation of cutting-edge battery technologies, including flexible and
ultra-thin batteries. Another South Korean company, Jenax, created a
cutting-edge lithium-ion battery that is incredibly thin, flexible, and
rechargeable. The growing economies of the Asia-Pacific region, particularly in
India and other South Asian nations, present the flexible battery market with
great prospects. India's market for flexible batteries can be investigated
because of the country's sizable consumer base and strong emphasis on industry
expansion. The country would benefit from this progress, which would also help
the Asia-Pacific flexible battery industry grow overall.
Key market players in the global
thin film battery market are:
- Brightvolt Inc
- Cymbet Corporation
- Guangzhou Feng Jiang Battery New Technology
Co. Ltd
- Excellatron Inc
- Jenax Inc
- Kurt J. Lesker Company Ltd.
- Front Edge Technology Inc
- Soleras Advanced Coatings BV
- Molex LLC
- STMicroelectronics N.V.
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"The demand for thin film
batteries is expected to be driven as a result of the development of
technologies such as flexible electronics and wearable electronics.
Asia-Pacific is expected to be the dominant region during he forecast period
because the region is home to some of the largest semiconductor and electronics
manufacturers in the world. It is anticipated that the region would adopt new
technology and innovation potential more quickly than other parts of the
world.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Thin Film Battery Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028, Segmented By Battery type
(Disposable, Rechargeable), By Voltage (Below 1.5V, 1.5V to 3V, and Above 3V),
By Application (Wearable Devices, Medical, Consumer Electronics, Smart Cards,
and Others), By Region and Competition,” has
evaluated the future growth potential of global thin film battery market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global thin film battery market.
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