Global Thin Film Battery Market by Battery Type (Disposable, Rechargeable), by Voltage (Above 3V, Below 1.5V), by Application (Wearables, Smart Cards, Medical) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2019, the global thin film batteries market was valued at USD 454.1 millions. It is projected to grow at a compound annual rate (CAGR), of 35.5% between 2020 and 2027. The market is expected to grow due to increased demand for the Internet of Things (IoT), devices and medical tracking apps in both developed and developing countries. Due to the diverse needs of many end-user segments, research and development in the global battery manufacturing sector has led to the development of products that are more durable and efficient than conventional batteries. The United States holds a dominant share of the global market. The country's market has been driven by the availability of R&D funding from the U.S. Department of Energy to support technological development. In the future, regional growth will be boosted by a rising demand for wearable technology.

In recent years, the technical advancements in thin-film batteries regarding charge density and life span for a battery has seen an increase. However, it is now safe to use. Leading players in the industry want to remove technological barriers and make the batteries thinner and more flexible due to the increasing demand for smartwatches. There are many regulations and standards that limit the use of traditional batteries. They are often made with harmful chemicals like mercury and cadmium. Thin-film batteries will also be in demand due to rising awareness of the dangers associated with lithium-ion battery.

Thin-film batteries can be more expensive than lithium-ion ones because of the cost of raw materials. These materials are also more volatile than lithium-ion batteries. This leads to higher material handling costs, which are then charged on the final product. These factors will likely pose a problem for market growth.

Battery Type Insights

In 2019, the rechargeable segment held the largest market share at over 57%. It is expected to grow at a faster CAGR of 5% between 2020 and 2027. Rechargeable batteries can be used in consumer electronics. They can also be used in medical devices and wireless sensors. The segment's growth is expected to be boosted by ongoing R&D activities of various research institutions and companies, with a focus on reducing the overall cost of these batteries.

Disposable batteries can be used for one-use, primarily for low-power applications. Disposable thin-film battery are used to power various products such as OTP-based smart cards, toys and greeting cards, radio-frequency identification tags, medical biosensors, and medical biosensors. This market segment is expected to grow significantly over the forecast period due to increased demand in multiple application areas such as consumer electronics and smart cards, medical sensors, devices, sports monitoring devices and biometric monitoring device.

Application Insights

Wearable devices accounted for more than 33% of the market share in 2019. Because of their compact design and high recharging rates, wearable devices such as fitness watches and smartwatches are now using thin-film batteries. Due to the high demand for banking cards and identification cards, the smart card market is expected to see significant growth.

Segment growth is expected to be boosted by the increasing demand for smart card authentication in various sectors. Due to the extensive use of medical products, such as drug patches and Transcutaneous Electrical Nerve Stimulation devices (TENS), biosensors, diagnostic tools, and patient monitoring devices, the medical segment is expected see significant growth over this forecast period. Other product applications include portable devices and Radio Frequency Identification.

Voltage Insights

The segment below 1.5 V was the most popular in 2019, accounting for more than 45% of global market share. This segment will grow at a steady rate of CAGR between 2020 and 2027 because of high demand for thin-film batteries below 1.5V from many applications, especially lower-power ones like smart cards, toys, RFID tags, smart cards, and wireless micro-sensors.

Over the forecast period, the segment above 3V will likely see the highest CAGR. Smartwatches, consumer electronics devices and other applications can use batteries above 3V. In 2019, the 1.5-3 V market segment held a large share and will continue to grow due to the increased use of these batteries in medical devices, consumer electronics, smart labels and tags, and in consumer electronics.

Regional Insights

North America held a dominant position in the global market for 2019, accounting for more than 40%. It is expected to continue its dominance throughout the forecast years. The key driver of the regional market is expected to be the U.S.'s growing R&D and technological innovation.

In 2019, Europe held a large share of the global market. The region's growth is due to technological advancements and strict government safety regulations regarding battery applications. Germany held a dominant position in the region in 2019, due to its high demand for medical and wearable devices.

APAC is expected to experience the fastest CAGR between 2020 and 2027. This is due to increasing product demand, greater adoption of IoT device, and a rapidly growing electronics manufacturing industry. The region's market is dominated by emerging countries like India, South Korea, Japan, South Korea, and Japan. Market growth is expected to be fueled by the increasing number of production facilities and expanding application possibilities in these countries over the forecast period.

Market Share Insights & Key Companies

Globally, the industry is relatively stable. Vendors continue to concentrate on technological advances and innovations in battery technology. These inventions, coupled with competitive pricing, will likely support an increase in market share during the forecast period.

Research and development is a major focus of companies to overcome technological obstacles and improve service quality. Companies are also investing heavily in research and development to overcome technological barriers and improve service quality. The market leader in thin film batteries is:

• Blue Spark Technologies

• BrightVolt.

• Enfucell

• STMicroelectronics

• LG Chem

• SAMSUNG SDI Co. Ltd.

Up Market Research published a new report titled “Thin Film Battery Market research report which is segmented by Battery Type (Disposable, Rechargeable), by Voltage (Above 3V, Below 1.5V), by Application (Wearables, Smart Cards, Medical), By Players/Companies SAMSUNG SDI Co Ltd, Enfucell, BrightVolt, LG Chem, Blue Spark Technologies, STMicroelectronics”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Thin Film Battery Market Report Segments:

The market is segmented by Battery Type (Disposable, Rechargeable), by Voltage (Above 3V, Below 1.5V), by Application (Wearables, Smart Cards, Medical).

Thin Film Battery Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Thin Film Battery Market

Overview of the regional outlook of the Thin Film Battery Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Thin Film Battery Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Thin Film Battery Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Disposable

                2. Rechargeable

                1. Above 3V

                2. Below 1.5V

                1. Wearables

                2. Smart Cards

                3. Medical

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Thin Film Battery Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Thin Film Battery Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.