Market Size of Printed Thin Film Battery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 29.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Printed Thin Film Battery Market Analysis
The Printed Thin Film Battery Market is expected to grow at a CAGR of 29.7% over the forecast period 2021 to 2026.
- Intrinsic properties of flexible, printed, and thin-film solid-state batteries include lighter weight, longer lifespan, high energy density, improved safety performance, and application in medical equipment, wearable devices, and smart cards, among others, are expected to drive their demand in the market.
- The growing demand for wearable devices is anticipated to provide potential growth landscape for printed thin-film battery market over the forecast period. Wearable devices such as smart clothing, smartwatches, and fitness bands incorporate thin film and flexible batteries due to their compact design and enhanced recharging rate.
- According to Cisco Systems, the number of connected wearable devices globally has more than doubled in three years, increasing from 325 million in 2016 to 722 million in 2019. The number of devices is projected to reach more than one billion by 2022.
- Key vendors in the market focus on innovation and technological advancements to deliver improved battery performance and grab maximum share of the market. For instance, Cymbet Corporation, in June 2019, introduced the next generation of Power Management with RTC (PMRTC) products, which integrates an ultra-low-power Real-Time Clock (RTC) with power management and power switching optimized for the innovative applications.
- Thin printed thin film batteries are the ideal solution for energy harvesting systems for their ultra-thin profile and low leakage characteristics. Increasing the adoption of energy harvesting-based autonomous wireless sensor nodes has created massive opportunities for thin film batteries as a power source. For the energy harvesting application, several companies are looking for flexible thin film batteries to power wireless sensors.
- Cost constraint and low energy density of currently available flexible thin film and printed batteries are some significant restraints for the market growth. However, growing demand for printed electronics, and a surge in rechargeable batteries are anticipated to generate potential opportunities for the flexible thin film and printed battery industry.
