Micro Battery Market: wearable devices application likely to grow at highest CAGR

 According to the new market research report "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", the global micro battery market is estimated to be USD 128 million in 2019 and is projected to reach USD 631 million by 2025, at a CAGR of 30.4% between 2019 and 2025. The growth of this market can be attributed to the inherent advantages offered by micro batteries. Some of the major benefits of micro batteries includeflexibility, safety, high energy density, lightweight, longer lifespan, as well as low cost. These factors have helped the micro battery market gain traction in applications such as smart cards, smart packaging, medical devices, and wearable devices, as well as penetrate application areas such as smart textiles and wireless sensors.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=25755945

Thin film battery held largest share of micro battery market in 2018

The micro battery market, based on type, is led by the thin film battery segment (in terms of size). Micro 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 miniaturization in products used in these applications has increased the demand for thin film lithium-ion batteries, thus driving the growth of the thin film battery market significantly.

Market for wearable devices application likely to grow at highest CAGR during forecast period

The market for the wearable devices application is expected to witness the highest CAGR during the forecast period. The increasing demand for intelligent smartwatches and fitness bands has given rise to the development of innovative product designs and the adoption of related components that are compact and flexible in nature. Most of the wearable devices require batteries that have a high capacity, can be recharged at a fast rate, and are long-lasting. These requirements are opening doors for the applications of micro batteries in wearable devices. Incorporating micro batteries not only makes the devices lightweight but also meets the other critical requirements of the devices, such as energy density, power capacity, and increased life cycle.

APAC accounts for largest market size during forecast period

APAC held the largest share of the micro battery market in 2018, followed by North America and Europe. Major manufacturers of wearable devices and consumer electronics in this region are miniaturizing their product designs, which require micro power sources for compatibility with the miniaturized designs. Also, technology advancements in smart packaging (such as the use of printed RFID tags and smart labels in packages), as well as the adoption of medical devices, mainly pacemakers, drug delivery systems, and medical patches, which require lightweight, flexible, and safe power sources, are fueling the market growth of micro batteries in the APAC region.

Cymbet Corporation (US), STMicroelectronics N.V. (Switzerland), Samsung SDI Co., Ltd. (South Korea), Enfucell Oy Ltd. (Finland), BrightVolt Inc. (US), Power Paper Ltd. (Israel), ProLogium Technology Co., Ltd. (Taiwan), Front Edge Technology, Inc. (US), PolyPlus Battery Co. Inc. (US), Panasonic Corporation (Japan), TDK Corporation (Japan), Blue Spark Technologies, Inc. (US), NEC Energy Solutions Inc. (US), Jenax Inc. (South Korea), Ultralife Corporation (US), and Molex (US) are some of the major players operating in this market.

Don’t miss out on business opportunities in Micro Battery Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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

APAC to hold the largest share of RF Semiconductor Market

 According to the new market research report "RF Semiconductor Market by Device (Filter, Power Amplifier, Switch, Low Noise Amplifier), Frequency Band, Material (GaAs, GaN, Si) Application (Consumer Devices, Automotive, Telecommunication, Aerospace & Defense), and Region - Global Forecast to 2025", The global RF semiconductor market size is expected to grow from USD 17.4 billion in 2020 to USD 26.2 billion by 2025, at a CAGR of 8.5%. The growing penetration of LTE and advanced technologies has resulted in the increased demand for RF semiconductors. Other drivers for the RF semiconductor industry growth include the increasing demand for RF devices for smartphones and the growing importance of advanced RF devices in radar and electronic warfare systems.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=79671536

Consumer devices to hold the largest application share of RF semiconductor industry during the forecast period

Consumer devices are expected to account for the majority of the RF semiconductor market share during 2020–2025. The growing worldwide demand for mobile wireless communications and mobile multimedia applications is driving the growth of mobile devices. As the communication technology evolves from 4G to 5G, smartphones should support multiple bands, which increases complexity in smartphones, in turn, driving the demand for RF devices such as filters and switches per smartphone. Hence, the rise in the number of RF devices in each smartphone drives the growth of the market.

SHF frequency band to witness the highest CAGR in the RF semiconductor market during the forecast period

The demand for the SHF frequency band is expected to grow at the highest CAGR from 2020–2025. 5G technology is one of the primary applications for this frequency band, and this frequency band is also used for backhauls and cellular base stations. The 5G technology is expected to be operated in the frequency range of 3.3–3.8 GHz for initial services, and hence the demand for RF semiconductor devices operating in the SHF is expected to grow significantly during the forecast period.

APAC to hold the largest share of RF semiconductor market during the forecast period

APAC is expected to hold the largest share of the RF semiconductor industry in 2020, and a similar trend is likely to be observed during the forecast period. The global market players are experiencing strong demand from countries such as China, Japan, and South Korea. The market in APAC is expected to grow at a high rate in sectors such as consumer devices, telecommunication, and automotive. The Asian markets are encouraging the development of 5G mobile technologies, with commercial deployments planned in 2020 in Japan and China. The growing demand for smartphones, increasing implementation of safety features such as ADAS and infotainment systems in vehicles, the proliferation of advanced communication technologies would help the RF semiconductor market in the APAC region to grow at a significant rate.

Major players in the RF semiconductor industry include Qorvo (US), Skyworks (US), Qualcomm (US), Analog Devices (US), NXP Semiconductors (Netherlands), Cree (US), MACOM (US), Microchip Technology (US), Murata Manufacturing (Japan), and Texas Instruments (US).

Don’t miss out on business opportunities in RF Power Semiconductor Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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

Lithium cobalt oxide (LCO) hold the largest size of the lithium-ion battery market during the forecast period

 According to the new market research report "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", is estimated to grow from USD 44.2 billion in 2020 to reach USD 94.4 billion by 2025 at a CAGR of 16.4%. The lithium-ion battery industry is likely to exhibit lucrative growth potential during the forecast period. Factors such as increasing demand for plug-in vehicles, growing need for automation & battery-operated material-handling equipment in industries, increasing demand for smart devices and other industrial goods, and high requirement of lithium-ion batteries for various industrial applications are driving the growth of the lithium-ion battery market.

Download PDF brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=49714593

Lithium cobalt oxide (LCO) held the largest size of the lithium-ion battery market during the forecast period

Lithium cobalt oxide (LCO) held the largest size, in terms of value, of the lithium-ion battery market in 2019. The market of LCO battery type is the largest due to its application in consumer electronics, which have a major share of the overall lithium-ion battery industry. High energy density acts as a power source for consumer electronics. The energy density of any LCO battery is very high, but it has low stability and power density. Its life cycle is not as long as its counterparts, whereas the cost of manufacturing these batteries is fairly reasonable owing to the use of graphite carbon and cobalt.

Power capacity range of 3,000–10,000 mAh is expected to grow at the highest CAGR during the forecast period

Power capacity range of 3,000–10,000 mAh is expected to grow at the highest CAGR between 2020 and 2025. The market for this range is expected to grow at a high CAGR since it covers a majority of industries such as consumer electronics, electric vehicle, power tools, and aerospace & defense. This makes it more desirable in the near future for numerous applications. Its heavy power capacity makes it useful for industries such as electric vehicles and industrial uses. The increasing market for consumer electronics and smartphones has increased the need for batteries with high power capacity that can keep the device running for long hours and, at the same time giving an optimum experience of the device due to large screen and power back up service.

APAC held the largest size of the lithium-ion battery market during the forecast period

APAC held the largest size of the lithium-ion battery industry in 2018. APAC is home to a large number of semiconductor and electronics companies and the increasing trend to implement high power battery, and safety with low energy wastage are expected to open up new market opportunities for lithium-ion battery in APAC. China and India are the fastest-growing economies in the world.

Demand for lithium-ion batteries is very high in Asia Pacific owing to the ever-increasing population and its need for consumer electronics. The market in China is expected to grow mainly because of the huge number of lithium-ion battery manufacturing companies in China and Japan. A major share of lithium-ion batteries is manufactured in APAC—specifically in China, Japan, and South Korea.

Key players operating in the lithium-ion battery market include BYD Company (China), LG Chem (South Korea), Panasonic (Japan), Samsung SDI (South Korea), BAK Group (China), GS Yuasa Corporation (Japan), Hitachi (Japan), Johnson Controls (Ireland), Toshiba (Japan), Lithium Werks (The Netherlands), CALB (China), Saft Groupe, (France), VARTA Storage (Germany), Farasis Energy (California), and Sila Nanotechnologies (California).

Don’t miss out on business opportunities in Lithium-Ion Battery Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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

How are advancements in consumer electronics and other verticals influencing the Shortwave Infrared (SWIR) Market?

 The report "Shortwave Infrared (SWIR) Market with COVID-19 Impact Analysis by Scanning Type (Area Scan and Line Scan), Technology (Cooled and Uncooled), Application (Security and Surveillance, Monitoring and Inspection, and Detection), Vertical (Industrial and Non-industrial), and Region - Global Forecast to 2025", is projected to grow from USD 177 million in 2020 to USD 279 million in 2025, at a CAGR of 9.6%. The growth can be attributed to the rising demand for line-scan SWIR cameras for machine vision applications, increasing penetration of SWIR cameras in the military & defense vertical, and growing adoption of SWIR cameras in commercial applications.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=52975079

Line-scan SWIR technology, by scanning type, is expected to grow at the highest CAGR during the forecast period

Line-scan SWIR technology enables users to see beyond the visible spectrum; it also helps in scanning the object/body line by line, thereby helping in covering the whole area of the object, thus providing an accurate image of the object. Line-scan SWIR detectors are highly used in manufacturing to find out flaws and rectify them before delivery.

Security & surveillance, by application type, is expected to account for the largest market share during the forecast period

SWIR imagers are complimentary to thermal imagers when it comes to vision enhancement and low visibility in poor weather conditions. Imagery in the SWIR technology is similar to visible imagery, in that it senses reflected light; thus, interpretation and scene analysis is better than thermal systems. Thermal imagers have good detection abilities, and such imagers are a good complement to SWIR technology. While thermal imaging can detect the presence of a warm object against a cool background, a SWIR detector can actually identify what that object is (for instance, ships, vehicles, or personnel).

Uncooled SWIR, by technology, is expected to account for the largest market share during the forecast period

In the uncooled SWIR technology, the infrared-detecting elements are contained in a unit that functions at ambient temperature. The common type of thermal imaging devices—uncooled systems—operates quietly and can be activated immediately. The other advantages of uncooled SWIR technology are its long service life and low sensitivity to light exposure, as well as the use of vanadium oxide resistors.

North America, by region, is expected to account for the largest market share during the forecast period

One of the major reasons for North America’s domination of the market is the presence of several prominent military & defense, scientific research, and medical players, which is generating demand for SWIR cameras. As North America is the largest producer of weapons and ancillaries, SWIR products are one of the important technologies being marketed. Moreover, several companies offering SWIR cameras are present in this region, which further adds to the growth of the SWIR market in North America.

A few key players operating in the North America SWIR market are Collins Aerospace (US), FLIR Systems (US), Xenics NV (Belgium), New Imaging Technologies (France), Allied Vision Technologies (Germany), Hamamatsu Photonics K.K. (Japan), Photon etc. (Canada), and Teledyne Princeton Instruments (US).

Don’t miss out on business opportunities in Shortwave Infrared (SWIR) Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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

Ultra-Wideband Market for outdoor positioning systems is fastest-growing market

 The report "Ultra-Wideband Market by Application (RTLS, Imaging, Communication), Positioning system (Indoor, Outdoor), Vertical (Healthcare, Automotive & Transportation, Manufacturing, Consumer Electronics, Residential, Retail), & Geography - Global Forecast to 2025" is estimated to grow from USD 1.1 billion in 2020 to USD 2.7 billion by 2025, at a CAGR of 19.6%. Major factors driving the growth of the UWB market include the rising demand for UWB technology in RTLS applications, the growing deployment of this technology in mobile devices, and the increasing adoption of the Industrial Internet of Things (IIoT).

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=200905786

UWB market for outdoor positioning systems is fastest-growing market

UWB technology is currently being employed for limited outdoor positioning applications because of the limited wireless communication range and premium pricing of UWB chips.  UWB technology has the advantage of low power consumption; hence, it is increasingly being used in portable devices that are adopted for many outdoor communications applications, radar imaging, medical imaging, asset tracking, surveillance, vehicular radar, and intelligent transportation.  UWB is also used in outdoor positioning systems, together with GPS.

Communication application to hold largest share of UWB market in 2025

UWB wireless technology offers significant advantages in communication applications owing to its narrow pulses and high localization precision. UWB communications systems are receiving significant attention due to their high data rates and low power consumption, as well as the ability to reduce interference. UWB technology is also used as a communication link in the ad-hoc sensor network. There is a sudden rise in communication applications for UWB as various companies are now using this technology in smartphones for mobile tracking services and better connectivity. Also, UWB antennas are used for wireless communication as they reduce the complexity and fabrication cost when high data rate transition, covering a larger area, is required.

Automotive and transportation would be fastest-growing vertical in UWB market during forecast period

The automotive and transportation industry has witnessed arrays of new and emerging applications for UWB technology. Since the past few years, wireless technology is majorly used in automobiles for the radio reception and navigation purposes. However, recently, automotive applications such as vehicle-to-vehicle and vehicle-to-infrastructure communication gained significant consideration from automobile manufacturers across the world. UWB location tracking technology makes the human–machine interface in automobiles easier and better. It results in novel comfort applications such as smart car access, driver authentication, and personalized user settings, such as seat positioning or climate control. UWB is a very promising technology for public transport vehicles. UWB technology is also used in train control systems where narrow radiofrequency pulses are transmitted to ensure wireless communication between the train and small devices installed on the wayside, as well as to control bus operations.  

North America to hold largest share of UWB market in 2025

Earlier, UWB was not widely adopted in North America owing to the cost-effectiveness of other substitute wireless technologies, such as faster versions of Wi-Fi, and low-power Bluetooth. UWB technology has been widely deployed in the communications and RTLS systems. Recent advancements in positioning accuracy of impulse radio-based UWB technology and falling average selling prices (ASP) of UWB chips are expected to drive the UWB market in North America during the forecast period.

Key Market Players

Key players in the market are Decawave (acquired by Qorvo Inc. (US)), Apple (US), 5D Robotics (US), Pulse~LINK (US), BeSpoon (France), Zebra Technologies (US), NXP Semiconductors (Netherlands), Texas Instruments (US), Johanson Technology (US), Alereon (US), LitePoint (US), Fractus Antennas (Spain), Nanotron Technologies (Germany), Samsung Electronics (South Korea), Sony (Japan), Ubisense (UK), Alteros (Ohio), and Starix Technology (US).

These players are increasingly undertaking product launches and developments, and acquisitions to develop and introduce new technologies and products in the market.

Don’t miss out on business opportunities in Ultra-Wideband Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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

Growing adoption of power electronics in the manufacturing of electric vehicles driving the growth of Power Electronics Market

 According to the new market research report on the "Power electronics Market with COVID-19 Impact Analysis by Device Type (Power Discrete, Power Module and Power ICs), Material (Silicon, Silicon Carbide and Gallium Carbide), Voltage (Low Voltage, Medium Voltage and High Voltage), Vertical (ICT, Consumer Electronics, Industrial, Automotive & Transportation, Aerospace & Defense), and Geography - Global Forecast to 2025", The global power electronics market size is expected to grow from USD 35.1 billion in 2020 to USD 44.2  billion by 2025, at a CAGR of 4.7%.

The increasing focus on the use of renewable power sources across the globe, growing adoption of power electronics in the manufacturing of electric vehicles, and increasing use of power electronics in consumer electronics are the major factors driving the growth of the power electronics market. Market is expected to be affected by the COVID-19 pandemic due to disruptions in supply chain, manufacturing & distribution across the value chain.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=204729766

Power ICs to hold the largest share of device types across the power electronics market

Power IC is used for the functioning of power management in various applications. Power IC is used in various devices, such as smartphones, tablets, smartwatches, TVs, and SSD, for power management applications. It combines multiple functions into a single device to reduce the component numbers and board space needed to easily and cost-effectively manage power in devices for the Internet of Things (IoT), consumer, medical, industrial, automotive, and many other applications. Increasing needs for power management in consumer devices to drive the growth of the market.

The market for SiC and GaN devices to grow at high CAGRs

Increasing interests of OEMs in adopting SiC devices for electric and hybrid vehicle manufacturing is expected to create growth opportunities for the power electronics market during the forecast period. They are also used in EV inverters, where they increase the efficiency of the system by up to 80% and help in reducing the global carbon footprint. SiC components exhibit increased reliability, greater efficiency, high operating temperature, reduced size, and high voltage capabilities, which make it the preferred material for various applications such as renewable energy generation mainly photovoltaics; electrified automobile systems including EV/HEV, trains, and buses; charging infrastructure; UPS; and motor drives

GaN offers similar performance as that of SiC but at a lower cost, as GaN devices can be fabricated on the silicon substrate, which is a cost-effective solution. GaN is used in applications such as PV, EV, UPS, wireless charging, and power supply. The rapid adoption of wireless chargers for consumer devices is expected to boost the growth of the gallium nitride-based semiconductor devices segment.

Automotive & Transportation vertical to grow at highest CAGR during the forecast period

The advent of electric and hybrid vehicle production has enhanced the demand for power electronic products to a great extent. Also, increasing concerns regarding environmental pollution and sustainable growth have increased government support in several countries to boost the production of electric vehicles, supported by incentives. This is expected to develop and expand the charging infrastructure and provide opportunities for the market. China is one of the largest markets for electric vehicles, and it has scaled up the production by implementing new policies and subsidies aimed at automobiles, particularly new energy vehicles. APAC to hold the highest market share for the power electronics market during the forecast period

APAC is expected to grow at the highest CAGR during the forecast period

APAC has been the fastest-growing region in terms of consumption of power electronic products and solutions compared to other regions in the world, owing to the increasing adoption of power electronics in consumer, industrial and automotive applications across various countries such as China, Japan, India, and South Korea, among others. China is the world’s largest producer and end user of consumer electronics devices, including smartphones tablets and home appliances. The increasing need for power management in consumer devices fuels the demand for power electronics in the consumer electronics vertical. Other important verticals include industrial and automotive. Increasing industrial automation, adoption of robotics, and the urgent need for efficient use of power for various industrial applications is further driving the growth of the market for industrial vertical. Renewable energy generation is one of the key revenue pockets for the power electronics market in APAC. Governments in multiple countries of the region are motivating the shift towards renewable energy generation, mainly photovoltaics or solar, in the form of various offers and subsidies. Fast-track adoption of electric vehicles across the region is also a prime factor driving the power electronics market growth. Various countries in APAC have set targets to increase the adoption of electric vehicles to reduce pollution levels

Major players in the power electronics market are Infineon Technologies (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric (Japan), Vishay Intertechnology (US), Fuji Electric (Japan), NXP Semiconductors (Netherlands), Renesas Electronics (Japan), Texas Instruments (US), Toshiba (Japan), ABB (Switzerland), GaN Systems (Canada), Littelfuse (US), Maxim Integrated (US), Microchip (US), ROHM (Japan), SEMIKRON (Germany), Transphorm (US), UnitedSiC (US), and Wolfspeed, A Cree Company (US).

Don’t miss out on business opportunities in Human Capital Management Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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

Which are major growing applications in Battery Energy Storage System Market?

 According to the new market research report "Battery Energy Storage System Market with COVID-19 Impact by Element (Battery, Others), Battery Type (Lithium-Ion, Flow Batteries), Connection Type (On-Grid And Off-Grid), Ownership, Energy Capacity, Application, and Geography - Global Forecast to 2025", the battery energy storage system market is projected to grow from USD 2.9 billion in 2020 to USD 12.1 billion by 2025; it is expected to grow at a CAGR of 32.8% from 2020 to 2025. The growth of this market is expected to be driven by the prevailing trend of adopting low-carbon and less fossil fuel-based economy and ongoing renewable energy revolution, surging requirement of continuous power supply from critical infrastructures in wake of COVID-19, growing adoption of lithium-ion batteries in renewable energy sector owing to their low costs and improved performance, and increasing demand for grid energy storage systems. These factors have helped the battery energy storage system market gain traction in applications, such as utilities, residential, and commercial.

Significant applications covered in this report are residential, commercial and utilities.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=112809494

Lithium-ion battery type segment held the largest share of battery energy storage system market in 2019

The battery energy storage system industry, based on battery type, is led by the lithium-ion battery segment (in terms of size). The lithium-ion battery exhibits high energy and power density, which leads to low standby losses and high life expectancy. Due to these characteristics, lithium-ion batteries are likely to account for a major share of the battery energy storage system market by 2025. The lithium-ion-based battery energy storage systems are used in the utility application to address the demand during peak time as these systems offer high response time and can store excess energy. The COVID-19 pandemic has impacted the supply of lithium-ion batteries and raw materials from China from the start of January 2020. Major battery manufacturers, including General Electric (US), Panasonic (Japan), and Samsung SDI (South Korea), have shifted their focus on making healthcare equipment such as masks and sanitizers to combat the spread of COVID-19.

The market for battery element segment led the battery energy storage system market in 2019

The battery elements used in the battery energy storage system are in the form of modules and racks. The battery element alone constitutes 60% of the total battery energy storage system. It is the major element, where the functioning is regularized by hardware and software, which increase its efficiency. Majorly used battery types in battery energy storage systems are lithium-ion and lead-acid batteries.

APAC accounts for the largest market size during the forecast period

APAC held the largest battery energy storage system market share in 2019, followed by North America and Europe. The market in APAC mainly comprises developing economies, such as China and India, which have tremendous potential for installation of energy storage projects due to increasing renewable energy integration. APAC is expected to witness plans for electrification in remote areas, which are majorly off-grid in several countries. The use of residential energy storage technology will enable to increase access to electricity for these remote and island communities in the region. The battery energy storage system market in APAC is highly competitive with the presence of established players. These players are continually upgrading their product portfolio with the launch of technologically advanced energy storage products.

Some of the major battery energy storage system manufacturers based in Asia Pacific are Samsung SDI (South Korea), LG Chem (South Korea), Hitachi (Japan), Panasonic (Japan), and NEC Corporation (Japan).

Don’t miss out on business opportunities in Battery Energy Storage System Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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