The thin film and printed battery market is expected to witness significant growth; it is expected to be valued at USD 1.25 Billion in 2022.
Summary of The Report:
According to the new market research report "Thin Film and Printed Battery Market by Voltage (Below 1.5V, 1.5V to 3V, above 3V), Chargeability (Rechargeable, Single Use), Application (Smart Packaging, Smart Card, Wearable Device, Consumer Electronic, Wireless Communication) - Global Forecast to 2022", the thin film and printed battery market is estimated to be worth USD 1.25 Billion by 2022, growing at a CAGR of 24.7% between 2016 and 2022. Factors driving the thin film and printed battery market include the rising need of thin film and printed battery solutions in healthcare industry, growing opportunities for mobile medical devices and wireless healthcare monitoring systems, and demand for ultra-thin printed battery solutions for next-generation smart textiles.
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Research Methodology:
The research methodology used to estimate and forecast this market begins with capturing data on key vendor revenue through the secondary research such as American Ceramic Society, European Business Press, Energy Storage Association, Rechargeable Battery Association, magazines, and leading players’ newsletters. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global thin film and printed battery market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews of people holding key positions in the industry such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.
- “Wearable device application is expected to grow at a high rate during the forecast period “
Thin film and printed batteries have a huge demand for wearable devices applications as they comply with the requirements of power sources in wearable devices. Wearable devices such as smart textiles, smartwatches, and smart wristbands are powered with thin film and printed batteries. Increasing popularity of wearable devices is expected to fuel the demand for thin film printed batteries. The printed battery is a recently developed technology designed for wearable devices; therefore the demand for printed batteries is expected to witness significant growth.
- “Batteries having a voltage rating of below 1.5 V to held the largest share between 2016 and 2022”
Batteries below 1.5 V expected to dominate the global thin film and printed battery market between 2016 and 2022. Below 1.5 V thin film and printed batteries are mostly used in low power applications such as disposable medical patches, iontophoretic transdermal patches, wireless micro-sensors, promotional toys, and RFID tags. Additionally, smart cards require low-voltage batteries, most of the manufacturers are integrating below 1.5 V thin film and printed batteries for smart cards.
- “Rechargeable thin film and printed battery to grow at the highest rate during the forecast period”
With the advancement of technology in wearable devices, manufacturers are continuously making efforts to come up with innovative designs suitable for their devices and are increasing the need for bendable, flexible, and high-capacity rechargeable batteries that can last long. Traditional rechargeable batteries have limitations pertaining to their size and weight to cope with the latest technology-enabled devices. To overcome these limitations, manufacturers of medical devices, wearable electronics, mobile sensors, and other healthcare products use rechargeable batteries. Thus, the market for rechargeable thin film and printed battery is expected to grow at highest rate during the forecast period.
- “The thin film and printed battery market in APAC is expected to grow at the highest rate between 2016 and 2022”
Increasing demand for wearable and portable consumer electronic devices are main crucial factors driving thin film and printed battery market in APAC. The advancement in the packaging industry in this region is leading to the integration of smart sensors, RFID tags, and smart labels in the packages. Smart packages require printed thin batteries to supply power. The growth in smart packaging is expected to drive the thin film and printed battery market. Furthermore, technological innovation in printed electronics leads to the manufacturing of IoT-based medical devices and wireless portable electronic devices. Medical devices such as pacemakers, drug delivery systems and medical patches are in great demand in China. The presence of major consumer electronic manufacturing companies contributes to the high growth of the thin film and printed battery market in APAC.
Major players involved in the development of thin film and printed battery include Samsung SDI Co., Ltd. (South Korea), Enfucell Oy Ltd. (Finland), Blue Spark Technologies, Inc. (U.S.), Panasonic Corporation (Japan), Cymbet Corporation (U.S.), Imprint Energy (U.S.), BrightVolt Inc. (U.S.), NEC Energy Solutions (U.S.), Ultralife Corporation (U.S.), Flexel LLC (U.S.), Excellatron Solid State LLC (U.S.), ProtoFlex Corporation (U.S.), and Jenax Inc. (South Korea).
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