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: https://www.grandviewresearch.com/industry-analysis/thin-film-battery-market
Further key findings from the report 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
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/thin-film-battery-market/request/rs1
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
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.
For
more info visit @ https://www.grandviewresearch.com
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