Thin Film Battery Market Share, Trends, Sales, Supply Forecasts To 2025

Posted on 2019-08-27 by researchinsights in Energy // 0 Comments

27^th August 2019 – The global Thin Film Battery Market size is anticipated to value at USD 1.72 billion by 2025. The market is subject to display a substantial growth due to the increasing demand for thin film battery in wearable electronics devices, growing application in Internet of Things (IoT), and medical tracking devices in both emergent and emerging countries. Latest trend involving growing adoption of wearable electronic devices is key factor responsible for rising demand of the thin film batteries across the globe in recent years. Additionally, growing preference towards thin film batteries due to minimum environmental hazards in comparison with traditional lithium-ion batteries is fueling growth of the market over the forecast period. Globally, the thin film battery industry is predicted to grow at CAGR of 27.4% in forecast period, providing numerous opportunity for market players to invest for research and development in the market.

With recent technological advancement in the global battery industry which is credited to the growing demand from end-user industries, is propelling growth of the market in recent years. The thin film batteries are more durable and flexible in comparison with traditional batteries. Additionally, higher performance associated with the thin film batteries is attributed to implementation of specific design during its manufacturing processes.

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Growing popularity of thin film battery in the portable electronic devices is attributed to its lightweight, flexibility and relatively small size, thus revolutionizing entire battery segment. These advantages coupled with high-end safety in electronic devices and medical application are propelling expansion of the thin film battery market over the forecast period. Growing demand and increasing awareness about advantages of the thin film batteries across the globe are extending reach of the thin film battery industry in coming years.

With recent developments regarding substantial improvement in its charge density and battery life have eradicated all previous shortcomings of the thin film batteries in recent years. Application involving wearable electronic devices such as smart watch, heart rate monitoring miniature medical devices are increasingly adopted by users, thus breaking conventional the technological barriers and making the batteries to be more flexible and thin. Government laws and regulations regarding excessive use of the heavy metal such as cadmium and mercury during manufacturing of the batteries are propelling growth of the thin film battery market. Significant efforts are being made in order to further enhance capabilities of the thin film batteries by manufactures such as superior performance and improved service quality.

The flexible batteries are designed by specialized technique involving deposition of materials layer by layer and vapor deposition. The end result creates an effect of parallel plates electrodes, which is similar to normal batteries but considerably thinner as electrodes are closer to each other. The thickness of each plate varies from ten to fifteen micrometers, which is significantly smaller in comparison with its counterparts. Application of the thin film batteries varies from remote sensors to RFID tags, and smart card readers. Though, base ingredient used during manufacturing of the thin film batteries are significantly costly in comparison with traditional batteries. Raw material used in the thin film batteries includes lithium, Zinc, Aluminum and other metals.

The thin film battery industry is divided into regional market segment such as North America, Europe, Asia-Pacific, Latin America and Africa. North America and Europe have shown major growth in recent years owing to the rise adoption of latest technologies and significant effort by industry players in the research development of thin film batteries.

Asia-Pacific region is predicted to hold major market share in the thin film battery market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with numerous technological innovation and growing popularity of thin film batteries. The key players in the thin film battery industry are Blue Spark Technolgy, BrightVolt Co., Enfucell Oy, ST Microelectronics Ltd., Cymbet Ltd., Imprint Energy Co., and Jenax Incorporations.

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