Press release
Flexible Battery Market: Rechargeable Batteries to Remain More Popular
As per the projections of the TMR report, the demand in the global flexible battery market will expand at a highly impressive CAGR of 32.9% during the forecast period of 2017 to 2025. In terms of revenue, the market for flexible battery had an opportunity worth US$230.0 mn in 2016, which will swell up to US$2,437.6 mn by 2025. In the near future, key players are expected to bank on product innovation to strengthen their competitive advantage in this market.
Most of them will be aspiring to innovate products in-sync with safety standards implemented by various agencies. For instance, Samsung SDI Co. Ltd. has introduced advanced materials that offer high efficiency to Li-ion batteries as well as lower the power consumption.
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Based on chargeability, the market for flexible battery gains significantly more demand for chargeable flexible battery than single use flexible battery and the pattern is expected to continue throughout the forecast period. On the basis of product type, this market is exhibiting considerably more demand for thin film and printed battery than other categories, viz. flexible zinc carbon battery, laminar lithium-polymer batter, and advanced lithium ion battery.
In terms of end-users, the global flexible battery market obtained 26.6% of the overall demand from smart packaging in 2016, staying ahead of healthcare, electronics, and transportation and logistics. Geographically, North America served nearly two-third, 32.5% of the total demand in the global flexible battery market, gaining traction from the developed country of the U.S.
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The global flexible battery market is driven by a number of factors, such as escalating demand for thin and flexible batteries in electronic devices, advent of wearable electronics, and increasing need for miniaturization of electronic devices. The report observes that the demand for wearable devices such as smart watches and smart bands as escalated in the recent past owing to rising health awareness among the urban population. These devices have proven their worth to monitor health of the users on the run time. In addition to that, the rising demand for flexible battery in the healthcare segment is expected to positively impact the market’s growth.
Advancements in the Internet of Things (IoT) technology is also expected to reflect positively on the global flexible battery market, as they can offer the ability to integrate into products of various dimensions, a feature that was missing in traditional batteries. Flexible batteries that include IoT feature offer increased power efficiency along with elongated battery life. Moreover, the adoption of flexible battery is increase as they are eco-friendly and can be easily disposed or recycled.
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Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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