Global Thin Films and Printed Batteries Market Size and Share
Noida, October 18, 2021 (GLOBE NEWSWIRE) – The global thin film and printed battery market is experiencing high growth due to the emerging and expanding application of thin film and printed batteries in implantable medical devices, such as tiny defibrillators and other smart devices, such as as smart cards, radio frequency identification. (RFID), sensors, etc …
A recent study carried out by the strategic consulting and market research firm BlueWeave Consulting revealed that the global market for thin films and printed batteries was worth $ 98.2 million in 2020. The data provided by the study reveals that the market is expected to grow at a CAGR of 24.0%, generating revenue of approximately $ 442.0 million by the end of 2027. The global thin films and printed batteries market has grown due to factors such as growing production of IoT devices and sensors and technological advancements in solid-state lithium-ion batteries. In addition, the increasing demand for continuous power supply from the industrial and commercial sectors will drive the demand for uninterruptible power systems, driving the growth of the industry. Additionally, thin film and printed battery manufacturers are experiencing growth due to increasing demand for lightweight, flexible and thin batteries for certain consumer electronics and implantable medical devices.
In addition, the growth of the global industry will be aided by the increasing demand for compact size batteries with higher energy storage. In addition, the increased demand for security systems such as RFID and sensors from train stations and financial institutions to reduce the risk of financial crime and cybersecurity will increase the market share. However, the small size of thin film and printed batteries may hamper the growth of the market due to their low energy density and low power capacity.
Thin films and printed batteries are transforming the industry
Thin film and printed batteries are a rapidly changing industry, with new designs, methods and improved chemistries emerging continually. Many companies / players are now planning to take their technology from lab scale to mass production, which is dramatically changing the business landscape. It’s an exciting time for this emerging technology. Due to the creation of new addressable market categories, the composition of the target market is also changing dramatically. Micro-powered, printed thin batteries are commonly used in skin patches, RFID tags, and smart cards. However, several new emerging applications have emerged over the past decade, bringing many big players into the arena and transforming a business landscape previously dominated by small businesses.
Technological Advances In Thin Film And Printed Batteries Are Driving Market Growth
In response to the growing demand for batteries and other electrical devices, investments are underway to make thin-film and printed batteries more technologically advanced. For example, using low resistance electrode / solid electrolyte interfaces, scientists from Tokyo Tech Company and Tohoku University developed batteries with less resistance to overcome the disadvantage of fully-state batteries. solid. In addition, according to recent studies, lithium-ion battery prices have dropped significantly by over 97%, and their production capacity is expected to triple by 2025, while the cost per kilowatt hour will drop below $ 100. Innovations like these are expected. stimulate the market during the forecast period.
Secondary batteries power the global thin film and printed battery market
On the basis of the recharging capacity, the global thin films and printed batteries market is segmented into primary batteries and secondary batteries. Globally, there is a very strong demand for secondary batteries in the thin film and printed battery markets. For this reason, this segment holds the largest market share. Rechargeable batteries, also called secondary batteries, can be recharged and discharged multiple times. In addition, electronic waste and improper disposal of batteries have very lethal effects on the environment, leading to the demand for secondary batteries in electronic devices.
Request free sample report @ https://www.blueweaveconsulting.com/report/global-thin-film-and-printed-battery-market/report-sample
Consumer Electronics Segment Drives Global Thin Film & Printed Battery Market Growth
On the basis of applications, the global thin films and printed batteries market is segmented into consumer electronics, wireless sensors, medical devices, smart packaging, smart cards, and others. Among these segments, consumer electronics make up the bulk of the market share, as thin-film and printed batteries are commonly used in portable devices. Such as wearables. Moreover, the booming consumer electronics industry in emerging economies like China and India is significantly influencing the growth of the global thin films and printed batteries market.
On the other hand, smart cards also remain a valuable sector. and thin-film battery technologies have been optimized to meet the requirements of card lamination. However, the price is too high for widespread market penetration.
The health sector can be one of the promising application sectors for future players,
The health sector is a promising target market. Skin patches with printed stacks are already on the market. BlueWeave Research analysts predict that the market for disposable medical devices requiring micro-batteries will also increase during the forecast period. The skin patch businesses are booming, making it a great market to explore. Printed zinc batteries offer the greatest potential in this industry, but their prices must continue to fall before they can be widely adopted. New form factors will be the key differentiator from high volume incumbents such as button cell batteries.
North America holds the largest market share
Geographically, the global thin films and printed batteries market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America holds the largest market share among all regions. The thin film and printed battery industry in the United States has made a significant contribution across the world in 2020. The increase in investment in high quality medical equipment, including dental products, optical technology and l diagnostic imaging will positively influence the growth of the company. Due to the increased implementation of EMV / Chips to reduce payment fraud, Brazil is also likely to expand in the next few years.
However, Asia-Pacific is expected to experience the highest CAGR during the forecast period. The production of solid state batteries in the Asia-Pacific region is fueling the market growth. Thin film and printed batteries are driving demand in emerging markets such as China, India, Japan etc. as consumer electronics and medical devices enter the market.
Impact of COVID-19 on the Global Thin Film and Printed Battery Market
The Global Thin Films and Printed Batteries Market were negatively impacted by the sudden outbreak of the COVID-19 pandemic. Consumer electronics production operations have declined significantly due to the severe shortage of chips in the market. During the quarantine period, however, the market for electronic devices surged. Manufacturing and production operations have been completely halted by the lockdown imposed by countries to prevent the spread of the virus. Therefore, there has been a sharp decline in the demand for thin film and printed batteries. The acute shortage of chips in the market is still hampering market growth even in the post-COVID-19 period. As a result, a huge demand and supply gap for consumer electronics has been created which is impacting the growth of the global thin film and printed film battery market.
The major players in the global thin films and printed batteries market are Blue Spark Technologies, STMicroelectronics, Brightvolt, Inc., Samsung SDI Co Ltd, Cymbet Corporation, Prologium, Excellatron Solid State, Inc., Panasonic Corporation, Jiangsu Enfucell Flexible Electronics Co ., Ltd., Fullriver Battery New Technology Co., Ltd., Apple Inc., LG Chem Ltd., Enfucell Oy Ltd., Ultralife Corporation, Prelonic Technologies, Flexel, Molex and other leading players.
The market is highly fragmented, with the presence of several industry players. Companies invest heavily in R&D, innovations and improving the electrical capacity of their products. They are also focusing on regional penetration to expand their consumer base. In addition, the adoption of competitive strategies such as mergers, acquisitions, partnerships, expansion, collaborations, etc., is also very important in the market. For example, Heilind Electronics, a well-known distributor of electronic components in the world and authorized distributor of Molex, has launched a line of batteries with a disposable thin-film battery.
Do not miss the business opportunity of the global thin films and printed batteries market. Consult with our analysts for critical insights and to help grow your business.
The in-depth analysis of the report provides information on the growth potential, upcoming trends, and statistics of the global Thin Films and Printed Batteries market. It also highlights the factors that determine the forecast of the total market size. The report promises to provide recent technology trends in the global thin-film and printed batteries market and industry insights to help policymakers make sound strategic decisions. In addition, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Please find below some related reports:
BlueWeave Consulting provides comprehensive market intelligence (MI) solutions to businesses for various online and offline products and services. We offer all inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the ground up by providing quality inputs and nurturing lasting relationships with its customers. We are one of the promising digital IM solutions companies providing agile support to make your business efforts successful.
BlueWeave Consulting & Research Pvt. Ltd.
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662