just like most smart devices, are equipped with the ability to transmit data and communicate with other devices. The data that a smart battery is capable of transmitting includes information about the level of charge stored in the battery. In this world that is more or less run by wireless electronic devices, there is a need for long lasting batteries. This is another advantage of smart batteries as they are capable of having an efficient power management system owing to the parameters that they are capable of monitoring. This helps not only increasing the duration of holding the charge but also extends the lifetime of the battery. With battery life being a key differentiator while buying portable devices, smart batteries have the the potential to win hands down when compared to regular batteries.
There are several applications that are augmenting the growth of the smart battery market.
With the growing awareness of the need to go green, the demand for battery operated vehicles is also increasing rapidly. Technological advances are bringing down the prices of electric vehicles and this is in turn driving the growth of the overall battery market. With the features that smart batteries have to offer, there is a clearly evident preference for them. These factors, coupled with the need to curb carbon emissions and the growth of the renewable energy sector are driving the growth of the smart battery market. This market is expected to exhibit a double digit growth rate till the end of the forecast period. One factor that needs to be addressed is the comparitively higher cost of smart batteries than the regular batteries. Once the price gap starts to narrow, the market has the potential to grow much faster.
A large amount of R&D is currently underway across the globe, not only by governments, but some of the major conglomerates as well.
The Smart Battery market can be segmented on the basis of type as
- Lead Acid, NiMH, NiCd, Zinc Carbon, Lithium Ion, Lithium Ion Polymer, Alkaline and Others
In terms of applications, the Smart Battery market has been segmented across the following
- Consumer Electronics, Healthcare, Aerospace & Defense, Automotive, Utilities and Others
The market has been segmented based on the following geographies
- North America, South America, APAC, Europe, Middle East and Africa
Following are just a few of the companies that are operating in the smart battery market.
- Accutronics Ltd, Trojan Battery Company, Cadex Electronics Inc., Rose Electronics Distributing Company, Inc.