Thin-film Battery Market to exceed $1.8bn by 2024
Published Date: January 23, 2017 Authors: Ankit Gupta, Aditya Singh Bais
Thin-film Battery Market size is poised to exceed USD 1.8 billion by 2024, as per the latest report by Global Market Insights, Inc.
Growing adoption of wearable devices including fitness trackers, watches, and smart glasses will propel the thin-film battery market value. Rising standard of living with high disposable income will favor business growth. Emerging demand for small, low-weight and flexible devices with large energy storage capacity and higher lifetime will stimulate the market demand. Increasing adoption for sensors, smart cards, novelty consumer and medical applications will further complement the industry demand.
RFID thin-film batteries share for 2015 accounted for 7% of global revenue share. Material management, logistics, inventory tracking, access control are notable application areas. Medical device applications are predicted to exhibit strong growth due to rising disposable medical equipment demand. Rising prominence of skin patches using printed batteries will positively drive the business growth. Strong IoT innovation trends and wearable sensor technology may positively influence the industry landscape. Innovative features coupled with customized design are likely to open lucrative business avenues. High initial cost may hamper industry growth.
Browse key industry insights spread across 117 pages with 145 market data tables & 10 figures & charts from the report, “Thin-film Battery Market Size By Product (Chargeable, Disposable), By Application (Wearable Electronics, Medical Devices, Smart Cards, Consumer Products, Backup Power, RFID, Sensors), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Russia, China, India, Japan, South Korea, Saudi Arabia, Brazil, Mexico), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Smart cards segment valuation for 2015 was over USD 10 million and will witness substantiate growth subject to its enhancement of transaction security. It finds its wide applications in Subscriber Identity Modules (SIMs) required for all mobile phones under the Global System for Mobile Communication standard.
For Europe, UK thin-film battery market size for 2015 valued at USD 12 million. Increasing adoption of smart cards with automation in disposable healthcare devices will favor the industry size. U.S. market contributed over 80% of the regional revenue share in 2015. Growing demand for portable electronic devices with advancement of security systems will complement the business growth.
China thin-film battery market revenue is predicted to exceed $100 million by 2024. Increasing adoption of internet of things coupled with growing of portable electronics devices demand may positively impact the growth. Saudi Arabia is set to grow over 26% by 2024. Changing consumer preference towards mobility and multifunctional device are some of the parameters which may influence the regional growth.
Brazil market accounted for over 35% of regional revenue share in 2015 and should see significant growth from 2016 to 2024; with large government spending on innovation and high-quality equipment. Brazil invest 9.7% of its GDP on health out of which public health system accounted for 46% i.e. USD 82.8 billion and private health system accounted for 54%.
Notable industry participants include Excellatron, NEC Corporation, ST Microelectronics, Enfucell, Jenax Inc, BrightVolt, Blue Spark, Imprint Energy, Prelonic, Cymbet Corporation, Flexel, PowerId and Thin-film.
The thin-film battery market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2013 to 2024, for the following segments:
- Wearable Electronics
- Medical Devices
- Smart Cards
- Consumer Products
- Backup Power
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Saudi Arabia
- South and Central America