The Next Big Thing In Solid State Battery Market 2020 Is Here ($1,104.3 Million Market) – Global ReportingElectronics - RetailUpdated on Jun 13, 2019 View more like this | Visit United States Minor Outlying Islands, UN | Contact sheetal borkar |
“Solid State Battery Market by Type (Thin-Film, Portable Battery), Capacity, Application (Consumer Electronics, Electric Vehicles, Medical Devices, Packaging, RFID, Smart Card, Wearable Devices, Wireless Devices), and Region - Global Forecast to 2020"
The solid state battery market is estimated to reach USD 1,104.3 Million by 2020, at a CAGR of 72.3% between 2015 and 2020. The increasing trend of miniaturization of electronic devices, requirement for solid state battery in electric vehicles, and the growing need for battery with extended life cycle are the major drivers for the solid state battery market.
Thin-film batteries are expected to lead the solid state battery market
The thin-film battery has been existing for more than a decade. The growth is precedential due to the growing adoption of thin-film solid state battery in the applications such as packaging, smart cards, medical devices, wearable devices, wireless communication, and others which have a limited internal space and require thin, flexible, and efficient power source.
The market in the electric vehicles sector expected to increase at the high growth rate
Electric vehicles (EVs) are expected to be one of the major segments for solid state batteries. Many major players in the industry are developing solid state batteries to address the current problems in the market. Portable solid state batteries are designed primarily with solid electrolytes which overcome the disadvantages of conventional batteries with liquid-based electrolytes. The battery compliments the requirements of electric vehicles as they are compact, cost-effective with improved power density, and last longer over a single charge. However, the solid state battery for the electric vehicles application is yet at its development stage and is expected to be commercialized in the next three to five years.
Download PDF Here: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=164577856
Packaging followed by smart cards are leading application sectors of the solid state battery market. The leading position of the packaging sector can be attributed to the fact that the solid state battery is used widely in RFID tags and smart labels integrated on packages. Beside the other advantages, solid state batteries can also be rolled, cut, or folded into any shape to compliment the product, without any loss of efficiency. Therefore, it can be easily integrated into RFID tags and smart labels enabling them to function efficient; these factures are also expected to drive the growth of the market in the packing sector further. Cymbet Corporation (U.S.), BrightVolt, Inc. (U.S.), GMB Co., Ltd. (China), and Front Edge Type, Inc. (U.S.) are some of the leading companies developing solid state batteries for the packaging application.
North America expected to hold the largest market share and witness a rapid growth during forecast period
North America accounted for the largest share of the solid state battery market in 2014. The growth can be attributed to the high demand from packaging and smart card sectors in this region for the solid state battery. Additionally, the growing trend of electric vehicles in North America is expected to fuel the solid state battery market further.
Major players in this market include Cymbet Corporation (U.S.), Infinite Power Solutions, Inc. (U.S.), Robert Bosch GmbH (Germany), Toyota Motor Corporation (Japan), Planar Energy Devices, Inc. (U.S.), Sakti3 Inc. (U.S.), Excellatron Solid State, LLC (U.S.), Solid Power, Inc. (U.S.), BrightVolt, Inc. (U.S.), and STMicroelectronics N.V. (Switzerland).
For more information visit: https://www.marketsandmarkets.com/Market-Reports/solid-state-battery-market-164577856.html
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441.
The solid state battery market is estimated to reach USD 1,104.3 Million by 2020, at a CAGR of 72.3% between 2015 and 2020. The increasing trend of miniaturization of electronic devices, requirement for solid state battery in electric vehicles, and the growing need for battery with extended life cycle are the major drivers for the solid state battery market.
Thin-film batteries are expected to lead the solid state battery market
The thin-film battery has been existing for more than a decade. The growth is precedential due to the growing adoption of thin-film solid state battery in the applications such as packaging, smart cards, medical devices, wearable devices, wireless communication, and others which have a limited internal space and require thin, flexible, and efficient power source.
The market in the electric vehicles sector expected to increase at the high growth rate
Electric vehicles (EVs) are expected to be one of the major segments for solid state batteries. Many major players in the industry are developing solid state batteries to address the current problems in the market. Portable solid state batteries are designed primarily with solid electrolytes which overcome the disadvantages of conventional batteries with liquid-based electrolytes. The battery compliments the requirements of electric vehicles as they are compact, cost-effective with improved power density, and last longer over a single charge. However, the solid state battery for the electric vehicles application is yet at its development stage and is expected to be commercialized in the next three to five years.
Download PDF Here: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=164577856
Packaging followed by smart cards are leading application sectors of the solid state battery market. The leading position of the packaging sector can be attributed to the fact that the solid state battery is used widely in RFID tags and smart labels integrated on packages. Beside the other advantages, solid state batteries can also be rolled, cut, or folded into any shape to compliment the product, without any loss of efficiency. Therefore, it can be easily integrated into RFID tags and smart labels enabling them to function efficient; these factures are also expected to drive the growth of the market in the packing sector further. Cymbet Corporation (U.S.), BrightVolt, Inc. (U.S.), GMB Co., Ltd. (China), and Front Edge Type, Inc. (U.S.) are some of the leading companies developing solid state batteries for the packaging application.
North America expected to hold the largest market share and witness a rapid growth during forecast period
North America accounted for the largest share of the solid state battery market in 2014. The growth can be attributed to the high demand from packaging and smart card sectors in this region for the solid state battery. Additionally, the growing trend of electric vehicles in North America is expected to fuel the solid state battery market further.
Major players in this market include Cymbet Corporation (U.S.), Infinite Power Solutions, Inc. (U.S.), Robert Bosch GmbH (Germany), Toyota Motor Corporation (Japan), Planar Energy Devices, Inc. (U.S.), Sakti3 Inc. (U.S.), Excellatron Solid State, LLC (U.S.), Solid Power, Inc. (U.S.), BrightVolt, Inc. (U.S.), and STMicroelectronics N.V. (Switzerland).
For more information visit: https://www.marketsandmarkets.com/Market-Reports/solid-state-battery-market-164577856.html
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441.
