The
global thin film battery market is expected to reach USD
1.72 billion by 2025, according to a new report by Grand View Research, Inc.
Rapid adoption of wearable technology in the society, along with technological
advancement is further propelling the market growth.
Thin
film battery has gained huge popularity due to its lightweight and small size
characteristics and is expected to revolutionize the industry. Increasing
demand for thin film battery to power compact devices coupled with improved
safety is a major driving factor for the industry growth in the wearables and
medical applications.
Below
1.5 V thin film batteries are generally used in low power applications such as
smart cards, wireless micro-sensors, toys, RFID tags, and medical patches.
Moreover, most of the manufacturers are integrating below 1.5 V thin film
batteries for various applications. These properties are expected to have a
positive impact on the industry.
The
smart cards and medical segment are expected to collectively account for 28.7%
of the global market share in 2025. Extensive R&D in the global battery
industry on account of changing needs from various end-use industries has
propelled the development of novel battery, which outperform conventional
battery in terms of their performance and durability.
North
America was the leading region due to rapid adoption of wearable technology by
the people. The consumer is demanding electronics devices which are easy to
carry around, which means it should be small in size and light in weight. The
availability of a variety of thin film battery options and ability of
customization is leading to the expansion of the overall market in this region.
Browse full
research report on Thin Film Battery Market: www.grandviewresearch.com/industry-analysis/thin-film-battery-market
Further key
findings from the study suggest:
- The market is expected to grow at a CAGR of
27.4% from 2017 to 2025 on account of increasing adoption of wearable
technology around the world
- Wearable devices will witness fastest growth in
terms of revenue at a CAGR of 29.2% from 2017 to 2025 owing to extensive
introduction of innovative players
- Asia Pacific market is expected to witness
significant development and was valued at USD 42.6 million in 2016 on account
of growing electronics manufacturing industry
- Key participants include Blue Spark Tech,
BrightVolt, Enfucell Oy, ST Microelectronics, Cymbet, Imprint Energy,
Ilika PLC, LG Chem, Jenax Inc. and others. These companies are focused on
increasing their market share by introducing innovative products.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/renewable-energy
Grand View Research has segmented the global thin film battery market on
the basis of type, voltage, application and region:
Battery
type Outlook (Revenue, USD Million, 2014 - 2025)
- Disposable
- Rechargeable
Voltage
Outlook (Revenue, USD Million, 2014 - 2025)
- Below
1.5V
- 1.5V to
3V
- Above 3V
Application
Outlook (Revenue, USD Million, 2014 - 2025)
- Wearable
Devices
- Medical
- Consumer
Electronics
- Smart
Cards
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Europe
- UK
- Germany
- France
- Asia
Pacific
- China
- India
- Japan
- South
Korea
- South
& Central America
- Middle
East and Africa
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-thin-film-battery-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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