Flexible batteries whether secondary or primary are specifically
designed to be conformal and flexible so that they can be easily
fixed in any small areas and angles. The design of flexible batteries
provide substantial benefits in term of form factor and performance
over its counterparts that are generally bulky. The market of
flexible batteries is at the nascent stage at present and is
anticipated to grow rapidly owing to extensive research and
development activities taking place for minimizing the cost of
electronic product and to increase the overall battery life cycle.
The market of flexible battery is anticipated to witness an
exponential growth rate during the forecast period from 2017 to 2025
owing to rapid invest of some blue chip companies such as IBM and
Exxon Mobil Corp. in the field of flexible battery.
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In order to provide an exhaustive and in-depth analysis of the
market, the global flexible battery market has been segmented on the
basis of product type, application, chargeability and geography.
Various types of flexible batteries available in the market includes
printed battery, laminar lithium-polymer battery, thin film battery,
flexible zinc carbon batteries, flexible solar batteries and advanced
lithium ion battery. Again, on the basis of chargeability, the market
has been further classified into chargeable flexible batteries and
single use flexible batteries. In addition, flexible batteries also
finds its application across various devices including consumer
electronics, medical devices, smart packaging and smart cards among
others. Moreover, cross sectional analysis of all the product type,
application and chargeability segment across various regions such as
North America, Asia Pacific, Europe, Middle-East and Africa (MEA) and
Latin America is also provided in this report.
Rapid technological advancements taking place in the field of
miniature and wearable electronic devices is the most important
factors anticipated to boost the demand of flexible batteries during
the forecast period from 2017 to 2025. Wearable electronic devices
faces frequent bending. Thus, flexible batteries are increasingly
used in wearable devices in order to maintain its electrical
characteristics even after repeated bending. In addition, rising
demand for Internet of Things (IoT) based devices is also anticipated
to upsurge the demand of flexible batteries in the coming years.
Furthermore, entry of new companies such as Samsung, apple and LG in
the flexible battery industries is also expected to increase the
adoption rate of flexible batteries especially in consumer electronic
devices, which in turn is anticipated to boost the market growth of
flexible batteries in the coming years.
However, high initial investments associated with the manufacturing
of these batteries along with steep competition from various low cost
options including zinc, lithium-ion and nickel batteries is the
primary factor responsible for the limited demand of these batteries.
This in turn is anticipated to hinder many manufacturers to enter
into the market and thus is predicted to inhibit the market growth of
flexible battery to some extent in the coming years.
Among the different types of flexible batteries available in the
market, thin film flexible batteries held the largest market share in
2016 and is expected to dominate the market throughout the forecast
period from 2017 to 2025. Increasing demand of thin film batteries
across various application segments including smart cards, medical
devices and wearable consumer electronic products owing to its less
cost and low self-discharge rate is the primary factor behind this
segment’s dominance.
Based on application, consumer electronics segment is expected to
drive the market growth of flexible batteries during the forecast
period. Among the consumer electronics segment, wearable devices is
expected to witness the most promising growth from 2017 to 2025. In
the wearable electronics segment high energy thin film batteries and
printed rechargeable zinc batteries is predicted to have huge growth
potential in the coming years due to their stable power supply, high
power storage, safety and long life cycle.
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Geographically, North America accounted for the highest market share
in global flexible battery market in 2016 and is closely followed by
European region. On the others hand, Asia Pacific region is
anticipated to emerge as a dominant regional market by the end on
2025 owing to the existence of large number of flexible battery
manufacturers along with the prevalence of several consumer
electronic device manufacturers in this region.
Some of the major players involved in the development of flexible
battery includes, Samsung SDI Co. Ltd. (South Korea),
STMicroelectronics N.V. (Netherland), LG Chem Ltd. (South Korea) and
Enfucell Oy Ltd. (Finland) among others.
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