The thin film and printed battery market is expected to be worth USD 1.25 Billion by 2022, growing at a CAGR of 24.7% between 2016 and 2022. 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 are the key driving factors for the market. The market has been segmented on the basis of voltage rating, chargeability, application, and region.
Printed batteries expected to grow at a faster rate than of the overall thin film and printed battery market during the forecast period. With growing need of new-generation smart textiles smart textiles in fitness and sports to monitor physical parameters such as heart rate and blood pressure are driving the need of printed battery market between 2016 and 2022. Thus, smart textiles require an ultra-thin printed battery solution to power these integrated sensor devices. The printed battery can be fixed into the design of smart textiles as it has advantages such as ultra-thin size and flexibility to complement their designs. Moreover, printed batteries also enables the medical device manufacturers to modify the structure of the device and enhance its efficiency by integrating thin film and printed power sources during product manufacturing.
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Thin film and printed batteries with voltage rating below 1.5 V held the largest market share of in 2016. As smart cards require low-voltage batteries, most of the manufacturers are integrating below 1.5 V thin film and printed batteries for smart cards. Below 1.5 V thin film and printed batteries are mostly used in low power applications such as disposable medical patches, iontophoretic transdermal patches, wireless micro-sensors, promotional toys, and RFID tags. Moreover, printed battery is an ideal power solution for smart cards since it can resist heat during the lamination process, which is an important parameter for smart card manufacturers. Therefore, the integration of thin film and printed batteries in low power applications such as smart cards, medical patches, and toys is expected to increase significantly during the forecast period.
The market for the wearable devices application expected to grow at a faster rate in the thin film and printed battery market during the forecast period. Wearable devices application comprises smartwatches; fitness bands, smart glasses, smart textiles, smart rings and bracelets, and others require ultra-thin batteries to comply with the flexibility of the device. The integration of thin film and printed battery makes the product weigh less and enables it to be flexible enough to fit into any shape of the product. Wearable devices such as Fitbit combine the IoT with wearable accessories, blending fashion and function as they collect data. Moreover, smart textiles require ultra-thin flexible printed power source that can be integrated into the flexible design of the fabrics. Therefore, the demand for thin film and printed batteries is high for wearable devices applications.
Less availability of printed ink materials and lack of standardization in the development of thin film and printed batteries are the major restraining factors for the growth of this market. As the suppliers of printed battery ink materials are limited, availability of printed ink materials is a major challenge for the battery manufacturers. However, printing ultra-thin ink mixture for battery components is also a difficult task to handle during the printing process.
Key market players of thin film include Panasonic Corporation (Japan), Samsung SDI Co., Ltd. (South Korea), STMicroelectronics N.V. (Switzerland), Ultralife Corporation (U.S.), and BrightVolt, Inc. (U.S.), and printed battery include Blue Spark Technologies, Inc. (U.S.), Jenax Inc. (South Korea), Enfucell Oy (Finland), Imprint Energy (U.S.), and Flexel LLC (U.S.).are focusing on new product launch and development, acquisition and collaboration, partnership and agreement strategies to enhance their product offerings and expand their business.
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