According to the report published by IndustryARC “Flexible Battery Market: By Technology (Thin-film Li-ion, Flexible Lithium Polymer, Printed, Curved & Paper Battery); By Chargeability (Chargeable, Non-Chargeable); By Application (Packaging, Smart Card & Wearable Electronics) & By Region - Forecast(2018 - 2023),”the market is estimated to reach $1.24 billion by 2025
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According to a recent study from IndustryARC, the Flexible Battery market is forecast to reach $1.24 billion by 2025 and is estimated to grow at a CAGR of 42% during 2019-2025. The growth of flexible battery market can be attributed to the commencement of advanced applications in wearable devices and other consumer electronics.
The thin-film battery type is expected to dominate the global flexible battery market between 2019 and 2025. Thin-film batteries are widely used in various applications such as smart cards, wearable devices, medical devices, and smart packaging. The rising trend of miniaturization of batteries and benefits such as low self-discharge rate and low cost of thin film batteries when compared to lithium polymer batteries have increased the demand for thin-film batteries market. Several IoT devices need batteries with high chargeability, power storage capacity, and wireless connectivity. The rising use of IoT in healthcare, advancements in the flexible battery technology, and its introduction in the electronics textile for the printing are anticipated to escalate the growth of this market.
Asia Pacific was the largest market for flexible battery across the globe in 2018. Advancements in technology and presence of large OEMs, electronic component manufacturers, and electronic device assemblers in this region is projected to drive the market in the next few years. Ease in availability of raw materials and competent labor pricing are projected to propel the flexible battery market during the forecast period. North America and Europe held a substantial share of the global flexible battery market in 2018 owing to the growing use of wearable devices in the healthcare sectors and high adoption of advanced technologies in these regions. Ongoing research and development of the flexible battery for the electronics, textile applications are expected to fuel the market in North America and Europe during the forecast period. The high consumption of consumer electronics is another major factor for the growth of flexible battery market in this region.
The Major Players in this Market Include
- LG Chem Ltd.
- Samsung SDI Co., Ltd.
- STMicroelectronics N.V.
- Panasonic Corporation
Flexible Battery manufacturers have utilized mergers and acquisitions as well as product launches as a strategy and enhanced core competencies through additions to product portfolio to gain a foothold in the emerging markets.
The end-user applications covered in the Flexible Battery Market report include:
- Smart Card
- Wearable Electronics
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.