The global flexible battery market demand is expected to reach USD 375.2 million by 2027 from USD 96.5 mllion in 2020 at a CAGR of 21.4%. during the forecast period. Flexible batteries are the batteries which are developed specifically for flexibility. As compared to traditional batteries, these batteries are designed to be lightweight, flexible and feature in multiple applications such as smartphones, tablets and wearable devices.
The driving factor in the field of global flexible battery market is the technological advancement in the portable electronics field which is anticipated to drive the growth over the next few years. There is an increasing demand for miniaturization of devices such as mobile phones, watches, and medical devices, among others, which is boosting the demand for miniaturized components of electronic devices.
Flexible battery design provides substantial benefits over its counterparts, which are usually bulky. The technology is in the phase of rapid growth with improved designs and performance. These batteries are expected to witness high penetration with healthy demand across consumer electronics segments, particularly smart wearable devices. Flexible batteries are designed to be efficient as compared to traditional batteries which were large, heavy and rigid. Several blue chip companies like IBM, Exxon Mobil Corp. are investing heavily in the flexible batteries.
Major players operating in the global flexible batteries market areNEC Energy Solutions Inc., Apple Inc., Samsung SDI Co. Ltd, Blue Spark Technology, Brightvolt Inc., EnfucellOy, LG Chem Ltd., Panasonic Corporation, ST Microelectronics N.V., and Ultralife Corporation. Key players in the flexible batteries market are engaged in product development and innovation. These players are focused on introducing new and advanced materials in flexible batteries and diversify their portfolio in order to gain market share.
Asia Pacific is a significant region of the global flexible batteries market. The market in the region is anticipated to expand at a rapid pace during the forecast period. Technologically advanced countries such as China, Japan, and South Korea dominate the global electronics industry. Presence of large OEMs, electronic component manufacturers, and electronic device assemblers in these economies is projected to drive the flexible batteries market in Asia Pacific in the next few years. Furthermore, relocation and expansion of manufacturing and assembling plants for electronic devices from the western hemisphere to East Asia is likely to augment the demand for flexible batteries in Asia Pacific in the near future
Based on type, the thin-film battery segment held the highest market share of the flexible battery market in 2015. Thin-film batteries are used widely in applications such as smart packaging, smart cards, wearable devices, and medical devices. The trend of miniaturization in the products used in these applications has increased the demand for thin-film lithium-ion batteries, driving the growth of thin-film battery market significantly.
The driving factor in the field of global flexible battery market is the technological advancement in the portable electronics field which is anticipated to drive the growth over the next few years. There is an increasing demand for miniaturization of devices such as mobile phones, watches, and medical devices, among others, which is boosting the demand for miniaturized components of electronic devices.
Flexible battery design provides substantial benefits over its counterparts, which are usually bulky. The technology is in the phase of rapid growth with improved designs and performance. These batteries are expected to witness high penetration with healthy demand across consumer electronics segments, particularly smart wearable devices. Flexible batteries are designed to be efficient as compared to traditional batteries which were large, heavy and rigid. Several blue chip companies like IBM, Exxon Mobil Corp. are investing heavily in the flexible batteries.
Major players operating in the global flexible batteries market areNEC Energy Solutions Inc., Apple Inc., Samsung SDI Co. Ltd, Blue Spark Technology, Brightvolt Inc., EnfucellOy, LG Chem Ltd., Panasonic Corporation, ST Microelectronics N.V., and Ultralife Corporation. Key players in the flexible batteries market are engaged in product development and innovation. These players are focused on introducing new and advanced materials in flexible batteries and diversify their portfolio in order to gain market share.
Asia Pacific is a significant region of the global flexible batteries market. The market in the region is anticipated to expand at a rapid pace during the forecast period. Technologically advanced countries such as China, Japan, and South Korea dominate the global electronics industry. Presence of large OEMs, electronic component manufacturers, and electronic device assemblers in these economies is projected to drive the flexible batteries market in Asia Pacific in the next few years. Furthermore, relocation and expansion of manufacturing and assembling plants for electronic devices from the western hemisphere to East Asia is likely to augment the demand for flexible batteries in Asia Pacific in the near future
Based on type, the thin-film battery segment held the highest market share of the flexible battery market in 2015. Thin-film batteries are used widely in applications such as smart packaging, smart cards, wearable devices, and medical devices. The trend of miniaturization in the products used in these applications has increased the demand for thin-film lithium-ion batteries, driving the growth of thin-film battery market significantly.
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