At 25% CAGR, Thin Film Battery Market to 2024 Dominated by Chargeable Thin Films

The application segment of thin film battery market is dominated by wearable electronics while the global market is set to record 25% CAGR driven by the increasing consumer adaption of wearable devices.

Consumers upgraded living standards leading to growing demand for wearable electronic devices will stimulate the thin film battery industry over the coming seven years. The attributing features of thin film batteries such as light weight, compact size, large energy storage capacity, and durability are positively influencing the product demand. Thin Film Battery Market worth over USD 200 million in 2015, is forecast to grow at a CAGR of 25% over the period 2016-2024.” The recent extension of thin film battery applications in the banking sector, medical fields, and transport is expected to further complement the global industry outlook.

Complete report on thin film battery market spread across 155 pages, profiling 13 companies and supported with 145 tables and 10 figures is now available at https://marketsizeforecasters.com/thin-film-battery-market .

Based on product trends, thin film battery market is mainly bifurcated into chargeable and disposable thin film battery. Chargeable thin film battery market held a larger share of 40% in 2015 and is projected to show a modest growth over 2016-2024. Disposable thin film battery industry is also expected to grow considerably at an annual rate of 20% over the forecast time.

Thin film battery market size in wearable electronics accounted for a revenue share of USD 80 million in 2015 and is likely to witness maximum growth in future, driven by the increasing consumer adaption of wearable devices such as smart glasses, e-textiles, watches, and health trackers.

The rising consumer demand for wireless communication and uninterrupted power supply is expected to augment the backup power applications. It is estimated to grow substantially at an annual rate of 20% over 2016-2024.

Another lucrative application sector of the market is in smartcards. Thin film battery industry share in Smartcard applications is projected to surpass USD 130 million by 2024, owing to its extensive use in banking sector, information security, healthcare, and transportation area.

Furthermore, thin film batteries also find immense application in the security system which includes sensors and RFID to monitor the risk concerning cybersecurity and financial crime.

Prominent industry participants include Excellatron, Blue Spark Technologies, Inc., Prelonic technologies, Imprint Energy Inc., STMicroelectronics, NEC Corporation, Thinfilm, JENAX Inc., Cymbet Corporation, BrightVolt Inc., and Enfucell. Order a copy of Thin Film Battery Market Size By Product (Chargeable, Disposable), By Application (Wearable Electronics, Medical Devices, Smart Cards, Consumer Products, Backup Power, RFID, Sensors), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Russia, China, India, Japan, South Korea, Saudi Arabia, Brazil, Mexico), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024 research report at https://marketsizeforecasters.com/securecheckout/paymenta/11808?msfpaycode=sumsf .

Based on the regional trends, U.S. thin film battery market covered a revenue of USD 70 million in 2015 and is forecast to contribute significantly toward the market growth driven by the growing implementation of EMV chip card technology.

Asia pacific market led by China, South Korea, and Japan is projected to witness heavy gains in future owing to the increasing adaption of portable devices fueled by the rising disposable incomes in these regions.

China industry related to thin film batteries is predicted to exceed a revenue share USD 100 million by 2024.

UK and Germany are the major revenue pockets of Europe thin film battery market. Germany contributed 30% of the total volume in 2015 and is expected to continue its regional dominance.

UK thin film battery market worth over USD 12 million in 2015 is also predicted to show substantial growth.

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