Solid state batteries are gaining traction in various applications due to their advantages such as high energy density, faster charging, safety advantages, and long shelf life over conventional batteries.
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% from 2020 to 2027. 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 a few of the major factors driving the growth of the market.
Download PDF Brochure:-
The solid state battery market for secondary battery is expected to grow at a higher CAGR during the forecast period. Thin-film and solid-state chip batteries, the most commonly used batteries, are secondary batteries. Rechargeable batteries are used in medical devices, electric vehicles, wireless sensors, and consumer electronics. With advancements in the technologies used in wearables and medical devices, manufacturers are constantly trying to create innovative designs suitable for such devices, such as bendable, flexible, and high-capacity rechargeable batteries that can last long. Therefore, the demand for secondary micro batteries is high and is expected to increase rapidly during the forecast period.
“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.
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, "Knowledgestore" 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
No comments:
Post a Comment