Thin Film and Printed Battery Market : Opportunity Analysis and Industry Forecast upto 2025
Ubiquity of smartphones in the past decade has had a pied piper effect on the battery market. Technological advancements have led to flexible, ultra-thin, stretchable, and roll-able batteries. Moving forward, with continuous research and development, the manufacturers operating in this field are building large batteries with similar attributes to address the need from large-sized electrical vehicles as well as for grid application in the residential and commercial sector. Consequently, the demand in the global thin film and printed battery is projected to rise at a robust growth rate during the forecast period of 2017 to 2025.
Global Thin Film and Printed Battery Market: Key Trends
Besides the increasing demand for smart electronic products, which is the primary driver of this market, the flexibility offered by thin film and printed battery has also gone a long way to solve the compatibility issues posed by conventional batteries, and has furthered augmented the demand. Thin film and printed batteries can now be easily customized with implantable medical devices, wearable sensors, and artificial skins. The popularity of miniature electronic products and the growing popularity of EMV, SIM cards, and e-IDs in the banking sector are other factors favoring the global of the thin film and printed battery market.
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Moreover, environment friendliness of these batteries as well as their high energy efficiency are some of the other factors favoring the growth rate of the market for thin film and printed battery. However, the market is hindered by the low energy density of the thin film and printed batteries, which challenges its application into other viable sectors. In addition to that, the manufacturing of these batteries is a time-consuming process, besides being defect prone. These two factors are also challenging the market from attaining its full potential.
Global Thin Film and Printed Battery Market: Market Potential
The growth of the Internet of Things (IoT) is opening new opportunities for the players in the global thin film and printed battery market. The advent of wearables such as watches, e-textiles, and smart fabrics along with the popularity of smart cards and RIFD tags is gaining from the evolving field of IoT.
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Global Thin Film and Printed Battery Market: Regional Outlook
Asia Pacific, which has quickly turned into the manufacturing hub of the world in the past decade, currently serves the maximum demand for thin film and printed battery. Asia Pacific houses nearly the half of the world’s population, and disposable income is increasing among the urban populations. The progress of the IoT in the healthcare sector is also expected to further influence the demand from this region. North America and Europe are expected to remain formidable regional markets for thin film and printed battery.
Global Thin Film and Printed Battery Market: Competitive Analysis
The demand for thin film and printed battery makes for a complex market wherein technology is frequently updating and getting replaced by a newer version. There are a number of companies currently active in the global thin film and printed battery market with significant consumer base but no clear black-and-white winner. Constant innovation is the most common strategy adopted the leading players in order to produce new products such as thin-film batteries, printed batteries, laminar lithium-polymer batteries, micro-batteries, thin flexible super-capacitors, advanced lithium-ion batteries, and stretchable batteries.
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Some of the notable players in the global thin film and printed battery are Samsung SDI Co., Ltd., Blue Spark Technologies, Excellatron Solid State, LLC, Excellatron, Prelonic, ST Microelectronics, Enfucell Oy Ltd., Thin Film Electronics ASA, Panasonic Corporation, Excellatron Solid State LLC, and Rocket Electric Co., Ltd.
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