Industry Overview
The
report “Thin Film Battery
Market Size By Product (Chargeable,
Disposable), By Application (Wearable Electronics, Medical Devices, Smart
Cards, Consumer Products, Backup Power, RFID, Sensors), Industry Analysis
Report, Regional Outlook (U.S., Canada, Germany, UK, Russia, China, India, Japan,
South Korea, Saudi Arabia, Brazil, Mexico), Growth Potential, Price Trends,
Competitive Market Share & Forecast, 2016 – 2024”, by Global Market Insights, Inc. says Thin Film Battery
Market size worth USD 200 million in 2015, is estimated to grow at a CAGR of 25%
over the period of 2016-2024.
Increasing
demand for light weight, compact, and portable products have spurred the growth
for thin film battery market. Internet of things has contributed towards a
great deal in regards with increasing application of thin film battery in
phablets and smartphones coupled with its utilization in sensor networks.
Rising standard of living with high disposable incomes will generate increased
adoption for wearable devices including watches, smart fabrics, fitness trackers,
and glasses and will in turn favor the thin film battery industry trends. The
various benefits allied with the use of thin film battery in electronics
include lower cost, less weight, higher energy density, and smaller footprint.
The chargeable and disposable
battery are the two-major product categories of the thin film battery industry.
Chargeable batteries are suitable for wireless sensors networks and have
accounted for over 40% of the overall industry revenue in 2015. The other type,
i.e. disposable thin film battery acts as energy source for
semi-battery-assisted passive RFID, greeting cards, toys, consumer music,
semi-active tags with sensors, and one-time password display type smart cards.
Disposable thin film battery market is estimated to register a CAGR of 20% over
the period of 2016-2024.
The
ability of thin film batteries to perform better makes its adoption more common
in medical devices, wearable electronics, consumer products, smart cards, RFID,
sensors, and backup power applications. Increasing number of mobile users along
with rising adoption of smart cards, SIM cars, EMV cards will stimulate the
thin film battery industry share. The smart card application is projected to
surpass USD 130 million by 2024. These batteries also find important
application in security systems, as RFID and sensors are used to monitor risks
related to cyber security and financial crimes augmenting the thin film battery
market outlook.
US
thin film battery market worth USD 70 million in 2015, is anticipated to
witness heavy gains due to increasing adoption of EVM chip card technology. By
2018, over 95% of credit cards would be enabled with EMV chip which will create
huge opportunities for regional growth. Furthermore, Brazil thin film battery
market will also witness promising growth, owing to increasing implementation
of EVM chips to minimize payment scams.
Backup power is another lucrative
area of application where thin film battery finds immense application, owing to
increasing demand for uninterrupted power supply and rapid growth of wireless
communication system. Thin film battery industry demand from backup power is
anticipated to register a CAGR of 20% over the period of 2016-2024. Moreover,
medical device applications will witness heavy gains, owing to increasing
adoption of throw-away medical equipment.
Asia Pacific thin film battery
industry is anticipated to witness significant growth due to heavy regional
demand for wearable devices and increase in per-capita income in countries such
as China, South Korea, and Japan. China thin film battery market size is
estimated to surpass USD 100 million in coming seven years.
Few of the notable industry players
are Excellatron Solid State LLC, STMicroelectronics, BrightVolt Inc, Imprint
Energy Inc, Cymbet Corporation, Enfucell Oy, Blue Spark, and FlexEl.
About
Global Market Insights
Global Market Insights, Inc., headquartered in
Delaware, U.S., is a global market research and consulting service provider;
offering syndicated and custom research reports along with growth consulting
services. Our business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
Contact
Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:
1-302-846-7766
Toll
Free: 1-888-689-0688
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