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By far the largest component of the advanced battery landscape is the lithium ion (Li-ion) sector, which makes the batteries that power almost all portable devices. The first Li-ion battery appeared just 2 decades ago and has since become the battery of choice for most portable devices. However, new chemistries are being developed in laboratories and in R&D departments throughout the world, including magnesium ion, ultracapacitors, lithium sulfur, and lithium air. Many of these newly developed chemistries promise advantages over today’s Li-ion batteries.
Navigant Research forecasts that revenue generated by the sales of all advanced batteries for portable power applications will top $7.1 billion in 2013 and grow to over $12.4 billion by 2023.