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Thin Film Battery Market Analysis by Focusing Key Players: Excellatron, NEC Corporation, ST Microelectronics, Enfucell, Jenax, BrightVolt, Blue Spark, Imprint Energy, Prelonic, Cymbet Corporation, Flexel, PowerId
Thin Film Battery Market
Light weight and compact are the major factors that makes its adoption favorable for wearable electronics generating a revenue over USD 80 million in 2015. Growing demand for small energy storage device will deliver considerable industry growth. Substantial growth will be witnessed in medical device applications subject to growing demand disposable equipment.
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RFID thin film battery market share for 2015 accounted for 7% of global revenue share. Material management, logistics, inventory tracking, access control are notable application areas. Medical device applications are predicted to exhibit strong growth due to rising disposable medical equipment demand. Rising prominence of skin patches using printed batteries will positively drive the business growth. Strong IoT innovation trends and wearable sensor technology may positively influence the industry landscape. Innovative features coupled with customized design are likely to open lucrative business avenues. High initial cost may hamper industry growth.
Thin film battery has its applications in information security, banking, transportation and healthcare. Thin film battery market from backup power is predicted to grow over 20% with increasing demand for continuous power supply and rapid development of wireless communication devices. Ability to enhance transparency throughout the supply chain will offer significant growth to thin fil battery market in RFID.
Thin Film Battery Market size was over USD 200 million in 2015 and will exceed USD 1.8 billion by 2024.
Growth Drivers:
• Growing demand for portable and flexible electronic devices
• Increasing adoption of smart cards and RFID
• Strict government norms towards security
• Longer cycle life
• Low self-discharge rate
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For Europe, UK thin film battery market for 2015 was valued over USD 12 million. Increasing adoption of smart cards with automation in disposable healthcare devices will favor the industry growth. U.S. thin film battery market share contributed over 80% of the regional revenue share in 2015. Growing demand for portable electronic devices with advancement of security systems will complement the business growth.
Increasing adoption of EMV chip card technology in the U.S. will propel the industry growth. Thin film battery market in the U.S. was valued over USD 70 million in 2015 and it has been analyzed that by 2018, 95% credit cards will be EMV chip enabled. Rising investments towards high class medical equipment in Germany that include dental products, diagnostic imaging and optical technologies will complement the business growth.
China thin film battery market size is predicted to exceed 100 million by 2024. Increasing adoption of internet of things coupled with growing of portable electronics devices demand may positively impact the growth. Saudi Arabia is set to grow over 26% by 2024. Changing consumer preference towards mobility and multifunctional device are some of the parameters which may influence the regional growth.
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Notable industry participants include Excellatron, NEC Corporation, ST Microelectronics, Enfucell, Jenax Inc, BrightVolt, Blue Spark, Imprint Energy, Prelonic, Cymbet Corporation, Flexel, PowerId and Thin film.
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https://www.gminsights.com/industry-analysis/stationary-battery-storage-market
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