Global Thin Film and Printed Battery Market (2020 to 2025) - Rise in Adoption of Wireless Sensors Equipped with Thin Film and Printed Batteries Presents Opportunities - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Thin Film and Printed Battery Market with COVID-19 Impact, by Type (Thin-film, Printed), Voltage, Capacity, Rechargeability (Primary Batteries, Secondary Batteries), Application (Smart Packaging, Medical Devices), and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global thin film and printed battery market size is projected to grow from USD 98 million in 2020 to USD 296 million by 2025; it is expected to grow at a CAGR of 24.7% from 2020 to 2025.
The growth of the thin film and printed battery market is majorly driven by growing demand for thin film and printed batteries for use in wearables, ongoing miniaturization of electronic devices, surging demand for printed flexible batteries in IoT applications, increasing use of printed flexible batteries in medical devices to treat COVID-19 patients.
COVID-19 has emerged as a global pandemic that has spread over 215 countries worldwide and disrupted various industries around the world. The prominent players across industries have been affected by this pandemic. The foreseeable decline in the growth of end-user applications may have a considerable direct impact on the Thin film and printed battery market.
Thin film batteries expected to hold the largest market share during the forecast period.
Thin film battery segment is expected to account for the largest share of the thin film and printed battery market in 2020. followed by Printed battery; a similar trend is likely to continue in the near future. Thin film and printed batteries are preferred to be used in miniature devices. Thin film batteries are widely used in smart packaging, smart cards, wearable devices, and medical devices. The increased demand for miniaturized products used in these applications has led to a rise in the adoption of thin film lithium-ion flexible batteries, thus driving the growth of the thin film batteries segment significantly. The increasing demand for smart cards in telecommunication, banking, and transportation sectors for payment applications has also fueled the growth of the thin film batteries segment.
Consumer electronics application is expected to grow at the highest CAGR during the forecast period.
The thin film and printed battery market for the consumer electronics is expected to grow at the highest CAGR from 2022 to 2025. Thin film and printed batteries for use in consumer electronics are expected to be commercialized by 2022, as several manufacturers are researching and developing these batteries to power their smartphones and wearable devices. Thin film batteries are designed to complement wearable products that have limited internal space. Thin film and printed batteries are safe as they are non-flammable owing to the presence of electrolytes. Secondary batteries that have a long lifespan are required to power consumer electronics devices. The outbreak of the COVID-19 pandemic has led to a decline in the growth rate of the thin film and printed battery market, owing to reduced manufacturing of products that use these batteries.
APAC is projected to grow at the highest CAGR during the forecast period.
Thin film and printed battery market in APAC is expected to grow at the highest CAGR during 2020?2025. The key manufacturers of consumer electronics in this region are innovating their product designs, which require thin power sources for compatibility with their products' flexible designs. As a result, a number of device manufacturers based in the region are investing in research and development activities for thin film and printed batteries. Companies such as Jenax (South Korea), LG Chem (South Korea), and Samsung DI (South Korea) are launching their batteries for use in wearables in the region. With the outbreak of COVID-19, the manufacturing facilities of all verticals across the world, resulted in their shutdowns.
- Growing Demand for Thin Film and Printed Batteries in Wearables
- Increasing Use of Thin, Flexible, and Printed Batteries in Medical and Electronic Devices
- Ongoing Miniaturization of Electronic Devices
- Surging Demand for Printed Flexible Batteries in IoT Applications
- Increasing Use of Printed Flexible Batteries in Medical Devices to Treat COVID-19 Patients
- High Initial Investments in Developing Printed Flexible Batteries
- Lack of Standardization for the Development of Thin Film and Printed Batteries
- Development of Next-Generation Thin Film and Printed Lithium-Air Batteries
- Rise in Adoption of Wireless Sensors Equipped with Thin Film and Printed Batteries
- Complexity in Fabrication of Thin Film Lithium-Ion Batteries
- Costs and Selection of Raw Materials to Develop Thin Film and Printed Batteries
- Shutdown of Thin Film and Printed Battery Manufacturing Plants in Various Countries Owing to COVID-19
- Apple Inc.
- Blue Spark Technologies
- Energy Diagnostics
- Enfucell Oy Ltd.
- GMB Co. Ltd.
- Guangzhou Fullriver Battery New Technology Co. Ltd.
- Imprint Energy
- Iten Sa
- LG Chem
- NEC Energy Solutions Inc.
- Panasonic Corporation
- Polyplus Battery Company
- Prologium Technology Co. Ltd.
- Samsung Sdi
- Ultralife Corporationa
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