The flexible battery market is expected to be worth
USD 958.4 Million by 2022, at a CAGR of 46.6% between 2016 and 2022. The
growth of this market is propelled by the increasing miniaturization of
electronics devices, need for thin and flexible batteries in consumer
electronics, and the growing demand for wearable devices. The market has
been segmented on the basis of type, chargeability, application, and
region.
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Thin-film battery type is expected to hold a large
share of the overall flexible battery market in 2016. Thin-film
batteries are used widely in applications such as smart packaging, smart
cards, wearable devices, and medical devices. With the advent of
technology in these applications, there is a growing demand for
thin-film batteries during the forecast period. The advancement in these
applications is increasing the demand for thin-film batteries and thus
driving the growth further.
Rechargeable flexible battery held the largest share
of the flexible battery market in 2015. Applications such as consumer
electronics, wearable device, medical devices, and wireless
communication require rechargeable batteries with longer life span.
Flexible batteries such as thin-film battery and curved battery are
mostly rechargeable batteries which can be used in mobile devices and
wearable devices. The increasing use of rechargeable batteries in
consumer electronics and wearable device applications is expected to
drive the flexible battery market during the forecast period.
The market for the smart packaging application
segment held the largest share of the flexible battery market in 2015.
Smart packaging includes printed electronics products such as disposable
batteries, sensors, printed displays, and circuits as well as other
electronic features such as anti-theft tags, RFID tags, and smart
labels. The packaging requirements have been growing over the years as
the packaging of the products has a direct impact on customers’
decision. Therefore, packaging manufacturers are integrating sound and
display text and interactive media in packages using flexible power
sources.
The APAC region is expected to be the fastest-growing
region in the flexible battery market. In APAC, China currently holds
the largest market share and it is also expected to grow at the highest
CAGR during the forecast period. China is a developing economy and has a
huge consumer electronics manufacturing capacity, which is one of the
emerging applications for flexible battery. The advancement of
technology in the smart packaging and consumer electronics sector as
well as the growing popularity of wearable devices are driving the
demand for flexible battery in the APAC region. Moreover, APAC is home
to major consumer electronics and wearable devices manufacturers such as
Samsung Electronics Co., Ltd. (South Korea), Panasonic Corp. (Japan),
Sony Corp. (Japan), and LG Electronics Inc. (South Korea), which are
integrating flexible batteries into miniaturized electronic devices.
One of the key restraining factors for this market is
the development of flexible batteries which requires high initial
investment, especially in the area of research and development and its
manufacturing setup. It requires the implementation of sophisticated and
expensive machinery along with the technology for manufacturing
flexible battery. As the machinery and technology comes at high cost,
it increases the requirement for investments.
Key market players such as Samsung SDI Co., Ltd.
(South Korea), and STMicroelectronics N.V. (Switzerland) are focusing on
new product launches and developments, acquisitions, and collaborations
strategies to enhance their product offerings and expand their
business.
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Mr. Shelly Sing
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com
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