Flexible Battery Market: Unveiling the $296 Million Opportunity

The Flexible Battery Market is expected to experience impressive expansion, according to a recent market research analysis named "Flexible Battery Market." By 2025, the market is expected to have grown from its current estimated value of USD 142 million, exhibiting an outstanding Compound Annual Growth Rate (CAGR) of 24.7% over the forecast period.

Flexible batteries are being used more frequently in a variety of applications, such as packaging, smart cards, wearable technology, consumer electronics, and medical equipment, which is what is causing this significant increase. The market is experiencing strong growth as a result of the rising demand for creative, adaptable energy solutions that can meet the specific design specifications of contemporary electronics and technology-driven products.

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Flexible Battery Market

 

Smart packaging application held the largest market size in the overall flexible battery market during the forecast period

The smart packaging application became the flexible battery market's most lucrative category over the period of forecasting. Disposable batteries, sensors, printed displays, circuits, as well as other electrical elements like anti-theft tags, RFID tags, and smart labels, are all included in smart packaging. Due to the crucial role that packaging plays in influencing consumer choices, there has been a steady rise in the need for new packaging solutions. As a result, makers of packaging are increasingly including interactive media, music, and display text into their products, all of which are powered by flexible battery sources. These advancements have had a substantial impact on the flexible battery market, helping to propel the smart packaging application to the top over the anticipated term of expansion.

Thin-film battery segment to hold the largest share and grow at the highest rate by 2022

By 2022, the global flexible battery market is expected to be dominated by the thin-film battery sector, which is also expected to develop at the quickest rate. Numerous industries, including smart packaging, smart cards, wearable technology, and medical equipment, use these thin-film batteries extensively. Thin-film batteries are now in high demand as a result of the trend towards product miniaturisation in various application areas. Notably, compared to lithium polymer batteries, thin-film batteries have advantages including a low self-discharge rate and cost effectiveness, which boosts the demand for them in the electronics industry. Because of this, it is anticipated that the thin-film flexible battery business would dominate and expand quickly over the next few years.

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APAC expected to grow at the highest rate between 2016 and 2022

The flexible battery market is anticipated to develop at the greatest rate between 2016 and 2022 in the Asia-Pacific (APAC) region. Several important variables are to blame for this quick proliferation. In line with the trend of sleek and adaptable product designs, major consumer electronics manufacturers in APAC are aggressively adopting novel product designs that can run on thin and flexible power sources. Additionally, the region's need for flexible batteries is being driven by technical developments in the consumer electronics and smart packaging sectors, as well as the exploding popularity of wearable technology. The Internet of Things (IoT) is increasingly being used in medical devices, and wireless devices are continuing to get smaller, which has increased demand for thin and flexible batteries in APAC, making it the fastest-growing region in this sector.

Major players involved in the development of flexible battery include Samsung SDI Co., Ltd. (South Korea), LG Chem Ltd. (South Korea), STMicroelectronics N.V. (Netherland), Enfucell Oy Ltd. (Finland), Blue Spark Technologies Ltd. (U.S.), Rocket Electric Co. ltd (South Korea), Fullriver Battery New Technology Co., Ltd. (China), Paper Battery Co. Inc. (U.S.), BrightVolt, Inc. (U.S.), Panasonic Corporation (Japan), Ultralife Corporation (U.S.), and NEC Energy Solutions (U.S.).

News Covered:

https://www.prnewswire.com/news-releases/flexible-battery-market-worth-296-million-by-2025--exclusive-report-by-marketsandmarkets-301078540.html 

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