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Thin Film And Printed Battery Market - Forecast(2024 - 2030)
Thin Film and Printed Battery Market Overview
The
market for Thin Film and Printed Battery is
forecast to reach $1.2 billion by 2026, growing at a CAGR of 20.7% from 2021 to
2026. Thin film and printed batteries are advanced battery technologies that
provide suitable batteries for the low-power disposable applications. These are
used in biometric monitoring devices, sports tracking devices, perishable goods
monitoring devices, smart labels and tags and many other devices. Major factor
for the growth of the market is that it is more economical and safe to the
environment compared to conventional batteries which drives the market. Growing demand for the IoT devices, medical
tracking applications and wearable electronics in both developed and developing
countries are expected to drive the growth of the market for thin film and
printed battery market. The integration of the batteries with the smart
clothing, increased demand for wearable devices with advancements in the
fabrication is one factor that drives the market. The rising innovations and
developments in energy harvesting is catering to the market growth. These factors are set to boosts the market growth for Thin Film and
Printed Battery during the forecast period 2021-2026.
Report Coverage
Key Takeaways
- The Thin
Film and Printed Battery market is estimated to witness substantial growth
over the forecast period primarily due to the growing adoption consumer
electronics, healthcare devices and other wireless sensors.
- Advancement in digital economy and flexible usage with IoT. There
are lot more investments made for the IoT projects and electronics. This
is safer than the lithium battery which is environmental friendly and also
economical.
- Thin Film and Printed
Battery market will have the substantial growth in the APAC market. North
America follows APAC with significant growth in the market of Thin film
and printed battery.
Thin Film Battery Market, By Chargeability Type, 2020
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Thin Film
and Printed Battery Market Segment Analysis – By
Chargeability type
Thin Film and Printed Battery Market is segmented
based on the offering into single use battery and rechargeable battery. The
rechargeable battery is expected to grow at the fastest rate of 23.6% in the
forecasted period due to its high performing capacity, cost efficiency, safer
for the environment also lower packaging waste. The demand for more energy
efficient rechargeable thin film and printed battery in the market has
increased. The renewable energy storage devices, smart cards, RFID tags, neural
simulators and wireless sensors are the major reasons for the growth of the
thin film and printed battery market.
Thin Film and Printed Battery Market Segment Analysis – By Application
Thin
Film and Printed Battery Market
is bifurcated based on application into Consumer electronic, wearable devices,
smart packaging, smart cards, wireless communication, Healthcare devices, Wireless sensors,
Drones, Energy harvesting, smart textiles and others. The wearable devices are expected to grow at
fastest rate of 25.9% in the forecasted period. The higher flexibility,
thinness, lightweight and low charging threshold are the reasons for the usage
in the manufacturing of wearable devices.
Thin Film and Printed Battery Market Segment
Analysis – By Geography
APAC region is
expected to grow in the forecasted period at the fastest rate of 22.6%. As the
population growth increases in the APAC region in turn it increases the
consumption of consumer electronic which again increases the usage of thin film
and printed battery. Increased disposable income is also one of the reasons for
the market growth. Surging industries in the developing countries like China,
India, South East Asia and other is further anticipating the growth market for
Thin film and printed battery.
Thin Film
and Printed Battery Market Drivers
Increased advancements in the consumer electronics sector
The major factor that drives the Thin Film and
Printed Battery market are advancements in IoT, increasing adoption of
miniaturization of the product for electronic devices. Rising adoption of
rechargeable batteries is driving the market force due its benefits like non
toxic, safer to environment, easy shipping, low cost and mass production. These
batteries are light weight, and maintenance is easy. These are some drivers for
the growth of the market.
Proliferation of IoT
The innovation of the Internet of Things (IoT) is
working to connect almost each and every electrical device to the internet. All
of these devices will be using numerous amounts of lithium-ion batteries as a
power source. Additionally, Artificial Intelligence is anticipated to be the
largest emerging technology for the decade. This universal adoption of AI is
going to introduce a countless number of electrical devices which are expected
to advocate the market growth in the thin film battery market.
Thin Film
and Printed Battery Market Challenges
The availability of the printed ink material for the production of battery is challenging, the standardization lacks in the development of the thin film and printed battery. The proprietary technologies used for manufacturing of printed battery differ from on manufacturer to another based on the specification. These batteries cannot be used for other application other than for the product which it is produced for. The handling and coating of the thinner components in the battery are difficult as they are very thin, sensitive and vulnerable. These are the major hindrance faced by the thin film and printed battery market.
Thin Film and Printed Battery Market Landscape
Product Launches,
Partnerships & collaborations, Acquisitions are major key strategies to
increase the market share and market growth. The major key players of Thin Film
and Printed Battery market are Samsung SDI, Blue spark, Apple, LG chem.,
Fullriver Battery New Technology, Panasonic, Prelonic Technologies,
STMicroelectronics, Flexel and others.
Acquisitions/Technology Launches/Partnerships
- In February 2020, Toyota Motor Corporation and Panasonic set up a joint venture as Prime Planet Energy providing solution for the manufacturing of batteries which includes thin and light weight thin film batteries.
- In May 2019, Ultralife Corporation acquired Southwest Electronic Energy, battery solution provider. This acquisition will enhance the portfolio of Ultralife Corporation and will expand its business.
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Battery Market - Forecast(2021 - 2026)
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