Press release
The Global Flexible Thin Film and Printed Battery Market Estimated to Expand at $309.75 Million by 2026
Flexible Thin Film and Printed Battery Market
Flexible electronics are smart, scalable products integrated with various new features. Here, flexible batteries are used in flexible electronic products. They are widely used in wearable technology, such as skin patches, wrist-worn, and foot-worn.
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Triton's research report predicts the global flexible thin film and printed battery market to expand at a CAGR of 17.50% in revenue during the estimated years 2021-2026. It is further estimated to attain revenue worth $308.75 million by 2026.
Factors such as the rise in demand for IoT technologies, the higher adoption rate of smart electronic products, and government investments in flexible electronics are majorly driving the flexible thin film and printed battery market on a growth path. Since flexible batteries are the only power means that can be incorporated in a preferred manner, they are widely used in smart electronic products, including smartwatches.
However, the low density of energy and cost restraints are factors negatively impacting the flexible thin film and printed battery market.
The flexible thin film and printed battery market is broadly divided into material, application, capacity, and chargeability. Based on material, it is divided into a curved lithium-ion battery, printed zinc battery, thin-film lithium-polymer battery, thin flexible supercapacitor, and thin lithium battery. In terms of application, it is segmented into a power bank, wearable technology, energy harvesting, smartphone, smart packaging, connected devices, smart cards, and RFID. Here, wearable technology is branched into skin patches, foot-worn wearable, wrist-worn wearable, and others wearables. Furthermore, capacity is categorized into 100 MAH. Lastly, chargeability is bifurcated into rechargeable and non-rechargeable.
The Asia-Pacific holds the largest market for flexible thin film and printed battery market and is anticipated to maintain its stronghold till 2026.
Among the region's nations, South Korea has been increasingly investing in smart technologies. Moreover, the UK and South Korea have announced a partnership for smart energy innovation that includes the implementation of smart systems. Additionally, the strong growth of the smart factory sector in the country has played a significant role in developing the demand for energy harvesting systems. This ultimately increases the need for flexible batteries in these systems, thereby driving the growth of the flexible thin film and printed battery market in the country and the overall region.
LG Chem Ltd, Excellatron Solid State LLC, Cymbet Corporation, Molex Electronics, Panasonic Corporation, Blue Spark Technologies, Enfucell OY, Energy Diagnostics, Imprint Energy Inc, Samsung SDI, Prologium, Jiangsu Enfucell Flexible Electronics Ltd, STMicroelectronics NV, Ultralife Corporation, and Brightvolt are distinguished companies in the flexible thin film and printed battery market.
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Question & Answer: Flexible Thin Film and Printed Battery Market
Question 1: What factors are majorly driving the flexible thin film and printed battery market on a growth path?
Answer: Factors such as the rise in demand for IoT technologies, the higher adoption rate of smart electronic products, and government investments in flexible electronics are majorly driving the flexible thin film and printed battery market on a growth path. Since flexible batteries are the only power means that can be incorporated in a preferred manner, they are widely used in smart electronic products, including smartwatches.
Question 2: What factors are negatively impacting the flexible thin film and printed battery market?
Answer: The low density of energy and cost restraints are factors negatively impacting the flexible thin film and printed battery market.
Question 3: Which region holds the largest market for flexible thin film and printed battery market?
Answer: The Asia-Pacific holds the largest market for flexible thin film and printed battery market and is anticipated to maintain its stronghold till 2026. Among the region's nations, South Korea has been increasingly investing in smart technologies.
Moreover, the UK and South Korea have announced a partnership for smart energy innovation that includes the implementation of smart systems. Additionally, the strong growth of the smart factory sector in the country has played a significant role in developing the demand for energy harvesting systems. This ultimately increases the need for flexible batteries in these systems, thereby driving the growth of the flexible thin film and printed battery market in the country and the overall region.
Question 4: Which are the distinguished companies in the flexible thin film and printed battery market?
Answer: LG Chem Ltd, Excellatron Solid State LLC, Cymbet Corporation, Molex Electronics, Panasonic Corporation, Blue Spark Technologies, Enfucell OY, Energy Diagnostics, Imprint Energy Inc, Samsung SDI, Prologium, Jiangsu Enfucell Flexible Electronics Ltd, STMicroelectronics NV, Ultralife Corporation, and Brightvolt are distinguished companies in the flexible thin film and printed battery market.
Related Report:
Global Energy Harvesting Market - https://www.tritonmarketresearch.com/reports/global-energy-harvesting-market
The global energy harvesting market is evaluated to advance at a CAGR of 10.15% during the period of 2020-2028, while gathering $9.45 billion by 2028.
Energy harvesting refers to a process wherein naturally occurring energy resources are utilized and stored in the form of energy.
The growing demand for sensors fueled by smart cities, technological advancement of the manufacturing sector, and IoT implementation for building automation are some of the key factors augmenting the growth of the energy harvesting market globally.
Additionally, the use of wearable electronics and energy harvesting using waves are opening new avenues for the studied market to leverage to reach its anticipated growth.
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