PUNE, India, February 16, 2017 /PRNewswire/ --
According to the new market research report "Thin Film and Printed Battery Market by Voltage Rating (Below 1.5 V, 1.5 V to 3 V, Above 3 V), Chargeability (Rechargeable, Single Use), Application (Packaging, Smart Card, Wearable Device, Consumer Electronic, Medical Device) - Global Forecast to 2022", published by MarketsandMarkets, the market is estimated to be worth USD 1.25 Billion by 2022, growing at a CAGR of 24.7% between 2016 and 2022.
Browse 67 market data Tables and 54 Figures spread through 153 Pages and in-depth TOC on "Thin Film and Printed Battery Market"
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Factors driving the thin film and printed battery market include increasing demand for wearable devices, increasing integration of printed battery solution in smart textiles, and high requirement of thin film and printed battery solutions in the healthcare industry.
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"Smart packaging application held the largest market size in the overall thin film and printed battery market "
The smart packaging application held the largest market size in terms of value in 2015. The packaging requirements have been growing over the years as the packaging of products has a direct impact on customers' decisions. Therefore, packaging manufacturers are integrating sound and display text, RFID tags, and interactive media in packages using ultra-thin flexible power sources. These factors are driving the growth of the thin film and printed battery market for the smart packaging application.
"Batteries having a voltage rating of above 3 V to grow at the highest rate between 2016 and 2022"
Above 3 V is expected to dominate the global thin film and printed battery market between 2016 and 2022. Thin film and printed batteries above 3 V are widely used in applications such as smartwatches, fitness bands, smartglasses, smart cards, energy harvesting, and portable consumer electronics devices. The trend of using miniaturized products used for these applications has increased the demand for above 3 V thin film and printed batteries, thereby driving the growth of the market for thin film and printed batteries with the voltage rating of above 3 V.
"APAC expected to grow at the highest rate between 2016 and 2022"
APAC is expected to be the fastest-growing market for thin film and printed batteries during the forecast period. Increasing demand for portable consumer electronic devices in the region is driving the demand for thin film and printed batteries. Also, the advancement of technology in the smart packaging, smart cards, and the growing popularity of wearable devices in this region ate the major factors fueling the growth of the thin film and printed battery market in APAC. Moreover, the penetration of IoT in medical devices and the miniaturization of wireless communication devices would further drive the demand for thin and flexible batteries in this region.
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Major players involved in the development of thin film and printed battery include Samsung SDI Co., Ltd. (South Korea), Enfucell Oy Ltd. (Finland), Blue Spark Technologies, Inc. (U.S.), Panasonic Corporation (Japan), Cymbet Corporation (U.S.), Imprint Energy (U.S.), BrightVolt Inc. (U.S.), NEC Energy Solutions (U.S.), Ultralife Corporation (U.S.), Flexel LLC (U.S.), Excellatron Solid State LLC (U.S.), ProtoFlex Corporation (U.S.), and Jenax Inc. (South Korea).
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