The “ThinFilm Battery Market” report gives a massive source to analyze the industry and other fundamental technicalities identifying with it. The examination discloses the total assessment and veritable parts of the Thin Film Battery market. This study exhibits a straightforward outline of the industry, that integrates applications, blueprints, industry chain structure, and definitions. This report prepares a case for investments in different regions based on a practical view of their regulatory outline, manufacturing dynamics, and availability of skills and resources in that region.
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 opportunities for market players to invest
for research and development in the market.
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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.
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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