According to the new market research report "Thin Film and Printed Battery Market by Voltage (Below 1.5V, 1.5V to 3V, above 3V), Chargeability (Rechargeable, Single Use), Application (Smart Packaging, Smart Card, Wearable Device, Consumer Electronic, Wireless Communication) - Global Forecast to 2022", the thin film and printed battery market is estimated to be worth USD 1.25 Billion by 2022, growing at a CAGR of 24.7% between 2016 and 2022. Factors driving the thin film and printed battery market include the rising need of thin film and printed battery solutions in healthcare industry, growing opportunities for mobile medical devices and wireless healthcare monitoring systems, and demand for ultra-thin printed battery solutions for next-generation smart textiles.
Driver Increasing demand for wearable devices
Devices based on wearable technology include eyewear such as smartglasses and virtual reality wearable glasses; footwear such as athletic, fitness, and sports shoes; and wristwear such as smartwatches and wristbands; among others. Wearable devices are worn by people to compute their daily activities or to track information of body movement, steps, and heart rates. Wearable devices come in many shapes and forms, but the majority of wearable applications require ultra-thin durable batteries, creating a huge market potential for thin film and printed batteries. The application of wearable devices is growing from consumer electronics and healthcare sector to wireless communication devices. Moreover, there are also growing opportunities for mobile medical devices and wireless healthcare monitoring systems as the medical sector is likely to witness a major technological shift. The market for wearable technology is witnessing increasing product innovations with new product launches and developments. These devices require high flexibility and ultra-thin design which can be achieved by the implementation of thin film and printed batteries. Printed batteries have a variety of applications in the wearable devices industry. Companies such as Flexel LLC (U.S.), Jenax (South Korea), and many more are working toward the development of the printed battery so that it can be integrated into the ever-increasing demand for wearable technology-based devices.
“The thin film and printed battery market in APAC is expected to grow at the highest rate between 2016 and 2022”
Increasing demand for wearable and portable consumer electronic devices are main crucial factors driving thin film and printed battery market in APAC. The advancement in the packaging industry in this region is leading to the integration of smart sensors, RFID tags, and smart labels in the packages. Smart packages require printed thin batteries to supply power. The growth in smart packaging is expected to drive the thin film and printed battery market. Furthermore, technological innovation in printed electronics leads to the manufacturing of IoT-based medical devices and wireless portable electronic devices. Medical devices such as pacemakers, drug delivery systems and medical patches are in great demand in China. The presence of major consumer electronic manufacturing companies contributes to the high growth of the thin film and printed battery market in APAC.
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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