Frost & Sullivan: Thin-film Batteries for Miniature Gadgets Set for an Extraordinary Growth
-- The use is expanding to a wide range of applications - Revenues from 86 million to touch 2 Billion in 2018
LONDON, Nov. 20, 2012 /PRNewswire/ -- Thin-film batteries hold the key to revolutionising miniature devices. Their flexibility, miniaturisation and high power attributes position thin-film batteries as the go-to power source for the next-generation of power- hungry gadgets.
New analysis from Frost & Sullivan (http://www.powersupplies.frost.com), Analysis of the Global Thin-film Battery Market, finds that the market earned revenues of $86.7 million in 2011 and estimates this to grow at an impressive rate to reach $1,986.5 million in 2018.
"Thin-film batteries offer the flexibility to design a miniature gadget, with a reliable power source," noted Frost & Sullivan Energy and Power Supplies Industry Manager, Suba Arunkumar. "The inherent tendency to be only a few millimetres thick and the flexibility to be designed in different shapes make thin-film batteries suitable for specific niche applications."
Thin-film batteries are benefiting from the trend of many consumer electronic devices converging into a single, miniature, multi-functional, high-powered gadget. The market is also being driven by the heightened need for small and light-weight security and surveillance devices.
This ability to adapt to a wide range of applications is fuelling market acceptance. Radio-frequency identification (RFID) tags, smart cards, sensors, and spy gadgets could use these batteries for powering their devices.
"Advancements in the manufacturing process of thin-film batteries will enhance their performance," advised Arunkumar. "This, in turn, will expand the base of end-user applications."
Key challenges in this nascent market are the lack of standardisation and limited number of manufacturers. Those that are active have a regional, rather than global, profile.
"Manufacturers need to compete in a common space, which could happen when all participants begin large-scale, high-volume commercial production," stated Arunkumar. "Mass commercial production will also be critical to bringing down the current high price of the technology."
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Analysis of the Global Thin-film Battery Market is part of the Power Supplies & Batteries Growth Partnership Service programme, which also includes research in the following markets: Analysis of Chinese Power Distribution Market, European Nuclear Power Sector – Trends and Opportunities, Annual Global Power Generation Forecasts 2012. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
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Analysis of the Global Thin-film Battery Market
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SOURCE Frost & Sullivan
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