Flexible Thin Film and Printed Battery Market By Chargeability (Rechargeable, Non-Rechargeable) and By Application (Consumer Electronics, Energy Harvesting, Pharmaceutical & Medical Devices, Packaging, Smart Cards, Wearable Technology, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027
The global flexible thin film and printed battery market size was valued at $1,217 million in 2019 and is projected to reach $11,033.3 million by 2027, growing at a CAGR of 30.9% from 2020 to 2027. Applications of flexible batteries have increased in recent times owing to the growth in trend of portable devices and flexible electronics. These batteries possess a new form factor and ultra-thin fabrication that enables them to achieve flexibility. The compatibility issue with conventional batteries to operate with flexible devices, namely, wearable sensors, implantable medical devices, artificial skins, and others, gives rise to the need for flexible batteries.
However, all these requirements cannot be practically realized unless an appropriate flexible power source is developed. To achieve this, flexible batteries are being developed with the most prevalent chemical, that is, lithium ion. Large-scale production as well as utilization of such batteries witnesses a changing trend, due to its limited energy density that restricts its usage in emerging applications such as electrical vehicles. Consistent R&D in the field of battery technology by companies, such as Enfucell Oy, Blue Spark Technologies, and Imprint Energy, and growth in involvement of existing market leaders, such as LG and Panasonic Corporation, pave the way for implementation of flexible batteries in the future.
Growth in applications of flexible batteries is attributed to rise in IoT, wearable technology, and the drift toward miniaturization of products, along with increase in demand for smart electronics products. However, low energy density of these batteries (especially in the case of ultra-thin lithium-ion batteries) restricts the usage applications of these batteries in verticals it can potentially cater to. Development in technology and the arising need for the flexibility enable the flexible battery market to explore the opportunities.
The global flexible thin film and printed battery market is analyzed by chargeability, application, and region. Based on chargeability, it is fragmented into rechargeable, and non-rechargeable. Based on application, the market is segregated into consumer electronics, energy harvesting, pharmaceutical & medical devices, packaging, smart cards, wearable technology, and others. Based on region, the global flexible thin film and printed battery market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Flexible Thin Film and Printed Battery Market Segmentation
By Chargeability • Rechargeable
By Application • Consumer Electronics
• Energy Harvesting
• Pharmaceutical & Medical Devices
• Smart Cards
• Wearable Technology
By Geography • North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o Latin America
o Middle East
Key Market Players:
• Blue Spark Technologies
• Brightvolt, Inc.
• Cymbet Corporation
• Excellatron Solid State, Inc.
• Imprint Energy Inc.
• Jiangsu Enfucell Flexible Electronics Co., Ltd.
• Panasonic Corporation
• Samsung SDI
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