The global flexible, printed and thin film battery market size is expected to reach USD 67.1 billion by 2025, according to a report by Grand View Research, Inc. The industry is projected to progress at a substantial CAGR of 39.7% over the forecast period. Rising adoption of wearable devices including watches, smart glasses, and fitness trackers is a leading factor strengthening the growing demand for flexible, printed and thin film batteries across the globe. The increasing demand for small, flexible, thin, and low-weight devices possessing higher lifetime and efficient micro energy storage capacity is a key industry driver. As such, the proliferation of flexible batteries in medical applications, consumer electronics, smart cards, and sensors is further expected to complement the industry advancement. Additionally, developments in wearable sensor technology, IoT innovation trends, and mobile cloud computing are some of the other enablers of the market growth.
Majority of the wearable applications such as smart devices and smart fabrics require flexible, ultra-thin, durable batteries, which is boosting the product demand globally. The use of the product in smart cards is a major revenue generator for the industry. Transaction security, logistics, material management, access control, and inventory tracking are the key application areas of smart cards. In the medical field, flexible, printed and thin film batteries are extensively used in several applications such as in transdermal skin patches and disposable healthcare devices. The penetration of thin film, lightweight batteries in medical devices is estimated to register a significant growth due to the increasing demand for portable medical equipment. Industry participants are focusing on advanced manufacturing techniques to increase product penetration in the market. Collaborations between electronic manufacturers & battery manufacturers are likely to fuel the growth of the consumer electronics segment. Declining cost of rechargeable batteries is expected to further drive the market growth in low-power applications such as smart cards RF-ID tags.
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Further key findings suggest:
• Inherent properties of flexible, printed and thin film batteries such as high energy density, lighter weight, longer lifespan, improved safety performance, and their application in wearable devices, medical equipment, and smart cards are expected to drive their market demand
• In terms of application, the consumer electronics segment is poised to show fastest growth over the forecast period at a CAGR of 39.6%, owing to the sustained heavy demand for electronics products globally
• The rechargeable battery type segment is anticipated to reach a significant value of USD 32.3 billion by 2025, owing to the increased use of rechargeable batteries in portable consumer electronic devices
• The flexible, printed and thin film battery market in Asia Pacific was valued at USD 2.0 billion in 2018 and is likely to witness substantial growth over the forecast period, owing to an improvement in the electronics manufacturing capabilities of emerging regional economies such as India and China
• The COVID-19 pandemic has impacted the overall battery industry due to supply chain issues as well as slowdown in vehicle sales and consumer electronics products. On the other hand, the demand for batteries in the medical sector is expected to see appreciable growth in the coming months, which is expected to aid industry advancements
• Enfucell, BrightVolt, STMicroelectronics, Cymbet, Blue Spark Technologies, Imprint Energy, Printed Energy Pty Ltd., Jenax Inc, Ilika, and Excellatron are some of the significant participants in the printed, flexible, thin film battery industry
• In March 2020, Jenax signed an MoU with the Pusan National University Hospital entailing their co-operation for the development of next-generation medical devices and services by combining the former’s flexible battery technology with the latter’s medical services technology
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Flexible, Printed & Thin Film Battery Market Segmentation
Grand View Research has segmented the global Flexible, Printed and Thin Film Battery market on the basis of battery type, application, and region:
Flexible, Printed & Thin Film Battery Type Outlook (Revenue, USD Million, 2014 – 2025)
Flexible, Printed & Thin Film Battery Application Outlook (Revenue, USD Million, 2014 – 2025)
• Consumer Electronics
• Smart Cards
Flexible, Printed & Thin Film Battery Region Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• South Korea
• Central and South America
• Middle East & Africa
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About Grand View Research
Grand View Research is a market research and consulting company based in India and the US, and headquartered in San Francisco. The organization offers syndicated and customized research reports in 46 industries across 25 major global economies.
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