CHICAGO, May 4, 2020 /PRNewswire/ -- According to the new market research report "Solid State Battery Market by Type (Single-cell and Multi-cell Battery), Rechargeability, Capacity, Application (Consumer Electronics, Electric Vehicles, Energy Harvesting, Medical Devices, Packaging, Wireless Sensors), Region - Global Forecast to 2027", published by MarketsandMarkets™, the global Solid State Battery Market size is estimated to grow from USD 62 million in 2020 to USD 483 million by 2027; it is expected to grow at a CAGR of 34.2% during the forecast period. Factors such as the rising requirement of solid state batteries in electric vehicles, the increasing trend toward the miniaturization of consumer electronics, and growing R&D activities by major companies are driving the growth of the solid state battery market.

Request for PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=164577856

"Single-cell batteries to hold larger market share in global solid state battery market"

The Single-cell battery segment is expected to lead the solid state battery market during the forecast period. Single-cell batteries—also known as thin-film batteries—have been existing for more than a decade. Single-cell batteries are preferred for use in miniature devices. Manufacturers designing portable products with limited internal space prefer to use micro batteries over conventional batteries to overcome safety concerns and to increase battery life. Thin-film batteries are widely used in applications such as smart packaging, smart cards, wearable devices, and medical devices. The trend of the miniaturization of electronic devices has increased the demand for thin-film solid state batteries, thus propelling the growth of the single-cell battery market significantly.

"Medical devices application to account for largest market size in 2020"

The solid state battery market for medical devices is expected to hold the largest size in 2020. Currently, solid state batteries have been commercialized significantly in the medical devices industry, as several manufacturers are designing and offering solid state batteries to power medical devices, such as temperature sensors, pacemakers, and smart patches. Technological advancements and the penetration of IoT in the medical field have generated opportunities for new battery-powered medical devices. Implantable medical devices, such as neural stimulators, pacemakers, and defibrillators, require batteries that can deliver a steady, reliable power source for a long duration; solid state batteries meet such requirements owing to their reliability and performance.

 Browse in-depth TOC on "Solid State Battery Market"

103 – Tables

42 – Figures  

155  – Pages

Request more details on:

https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=164577856

"Market in APAC to grow at highest CAGR during 2020-2027"

The market in APAC is expected to grow at the highest CAGR during the forecast period owing to the technological advancements in wearable devices and consumer electronics sectors in this region. The major wearable devices and consumer electronics manufacturers based in APAC, such as Samsung (South Korea), LG Electronics (South Korea), and Panasonic (Japan), are developing the next-generation flexible devices. These devices require power sources that are not only small but also have high-power density to complement the product design; these requirements are fulfilled by thin-film batteries.

Cymbet (US), Robert Bosch (Germany), Toyota Motor (Japan), Solid Power (US), Excellatron Solid State (US), and BrightVolt (US) are a few of the major companies operating in the solid state battery market.

Related Reports:

Lithium-Ion Battery Market by Type (Li-NMC, LFP, LCO, LTO), Power Capacity (0-3,000 mAh, 3,000 mAh-10,000 mAh, 10,000 mAh-60,000 mAh, above 60,000 mAh), Industry (Consumer Electronics, Automotive, Industrial), Voltage, Region – Global Forecast to 2025

Micro Battery Market by Type (Thin Film, Printed, Solid State Chip Battery), Capacity, Rechargeability, Application (Smart Cards, Smart Packaging, Medical Devices, Wearable Devices), and Geography - Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com 
Visit Our Web Site: https://www.marketsandmarkets.com
Research Insight : https://www.marketsandmarkets.com/ResearchInsight/solid-state-battery-market.asp
Content Source : https://www.marketsandmarkets.com/PressReleases/solid-state-battery.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets