Thin-film Batteries Market by End-users and Geography - Forecast and Analysis 2020-2024
- Published: Apr 2020
- Pages: 120
- SKU: IRTNTR40647
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The thin-film batteries market size has the potential to grow by USD 1.32 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by geography (APAC, Europe, MEA, North America, and South America) and end-users (smart cards, medical devices, smart wearables, and others). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Angstrom Engineering Inc., Blue Spark Technologies, BrightVolt, Cymbet Corp., Enfucell, Front Edge Technology, Inc., LG Chem, Molex LLC, NEC Corp., and SAMSUNG SDI CO. LTD.
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Market Competitive Analysis
The thin-film batteries market is concentrated. Market vendors are making significant investments in R&D to develop new solutions for different requirements of power, lifetime, thinness, cost, charging cycles, reliability, and flexibility. Front Edge Technology, Inc., LG Chem, Molex LLC, NEC Corp. and SAMSUNG SDI CO. LTD. are some of the major market participants. Although the increasing occurrences of hearing loss will offer immense growth opportunities, demand for higher battery life will challenge the growth of the market participants. To make the most of the possibilities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this thin-film batteries market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this thin-film batteries market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Angstrom Engineering Inc.
- Blue Spark Technologies
- Cymbet Corp.
- Front Edge Technology, Inc.
- LG Chem
- Molex LLC
- NEC Corp.
- SAMSUNG SDI CO. LTD.
Thin-film Batteries Market: Segmentation by Region
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North America was the largest thin-film batteries market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rising adoption of technologically advanced medical devices and the increasing use of contactless smart credit cards will significantly influence thin-film batteries market growth in this region.
Almost 38% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for thin film batteries in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.
Thin-film Batteries Market: Segmentation by End-users
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Thin-film batteries are used in various types of smart cards, including credit/debit, pre-payment, and transit cards, secure student ids and employee badges, online authentication and tokens, and data storage and patient records. The use of smarts cards as contactless credit/debit cards, employee ID cards, patient ID cards at hospitals and other applications, increasing urbanization, and rising incidence of theft through credit card cloning are some of the factors fueling the growth of the thin-film batteries market in this segment.
Market growth in this segment will be slower than the growth of the market in the medical devices, smart wearables, and other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the thin film batteries market size.
Thin-film Batteries Market: Key Drivers and Trends
The increasing occurrences of hearing loss will be a significant factor driving the growth of the thin film batteries market size. Hearing loss can distress one or both the ears and lead to difficulties in hearing normal speech or loud sounds. Genetic causes, certain infectious diseases, complications at birth, reaction to or misuse of drugs, chronic ear infections, exposure to excessive noise, and aging are some of the factors which may lead to hearing loss. Hearing aid devices, cochlear implants, and other assistive devices are used to overcome such hearing loss-related problems. Since batteries are used in these hearing aid devices, with increasing incidences of hearing loss, the demand for thin-film batteries will also grow during the forecast period.
- Smart wearable manufacturers are offering newer and updated versions of their products with added features pertaining to health and wellness to attract customers.
- The declining cost of wearable devices has boosted the adoption of these devices in both developed and developing countries.
- Thin-film batteries are widely used in smart wearables.
- The rising popularity of smart wearables, which is one of the critical thin-film batteries market trends, will positively influence the growth of the market during the next five years.
- During 2020-2024, the thin film batteries market size will grow at a CAGR of almost 26%.
Thin-film Batteries Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will thin film batteries market growth during the next five years
- Precise estimation of the thin film batteries market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the thin film batteries industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of thin film batteries vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Increasing occurrences of hearing loss
- Advances in solid-state batteries
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