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(IT-NEWSWIRE.COM, June 11, 2019 ) Flexible battery market [150 Pages Report] is expected to witness significant growth; it was valued at USD 69.6 million in 2015 and is expected to reach USD 958.4 million by 2022, at a rate of 46.6% during the forecast period. The increasing development of miniaturized flexible and portable products with space constraints and the need for thin and flexible power sources to complement the design of flexible miniaturized electronic products are the key driving factors for the flexible battery market. The base year considered for the study is 2015 and the forecast period is considered between 2016 and 2022. The objective of the report is to provide a detailed analysis of the market on the basis of type, chargeability, application, and geography. The report provides detailed information regarding the major factors influencing the growth of this market. It also gives a detailed overview of the value chain in the market and analyzes the market trends with Porter's five forces analysis.
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“Smart packaging application held the largest market size in the overall flexible battery market during the forecast period“
The smart packaging application of the flexible battery held the largest market size in terms of value in 2015. Smart packaging includes printed electronics products such as disposable batteries, sensors, printed displays, and circuits as well as other electronic features such as anti-theft tags, RFID tags, and smart labels. The packaging requirements have been growing over the years as the packaging of products has a direct impact on customers’ decisions. Therefore, packaging manufacturers are integrating sound and display text and interactive media in packages using flexible power sources. These factors are driving the growth of the market for the smart packaging application of the flexible battery market during the forecast period.
“Thin-film battery segment to hold the largest share and grow at the highest rate by 2022”
The thin-film battery type is expected to dominate the global flexible battery market between 2016 and 2022. Thin-film batteries are used widely in applications such as smart packaging, smart cards, wearable devices, and medical devices. The trend of miniaturization in the products used in these applications has increased the demand for thin-film batteries, thereby driving the growth of thin-film battery market significantly. Thin-film batteries have a low self-discharge rate and cost less than lithium polymer batteries. Thus, they have a huge demand in electronics devices, thereby driving the growth of the thin-film flexible battery market.
Browse and in-depth TOC on "Flexible battery market"
64 - Tables
47 - Figures
150 - Pages
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“APAC expected to grow at the highest rate between 2016 and 2022”
APAC is expected to be the fastest-growing market for flexible battery during the forecast period. Major consumer electronics manufacturers in this region are innovating their product designs to run on thin power sources for compatibility with the flexible designs of their products. Thus, the advancement of technology in the smart packaging, consumer electronics sector, and the growing popularity of wearable devices in this region ate the major factors fueling the growth of the flexible battery market in APAC. Moreover, the penetration of Internet of Things (IoT) in medical devices and the miniaturization of wireless devices would further drive the demand for thin and flexible batteries in this region.
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Major players involved in the development of flexible battery include Samsung SDI Co., Ltd. (South Korea), LG Chem Ltd. (South Korea), STMicroelectronics N.V. (Netherland), Enfucell Oy Ltd. (Finland), Blue Spark Technologies Ltd. (U.S.), Rocket Electric Co. ltd (South Korea), Fullriver Battery New Technology Co., Ltd. (China), Paper Battery Co. Inc. (U.S.), BrightVolt, Inc. (U.S.), Panasonic Corporation (Japan), Ultralife Corporation (U.S.), and NEC Energy Solutions (U.S.).
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