Pune, India - According to the new market research report "Flexible Battery Market by Technology (Thin-film Li-ion, Flexible Lithium Polymer, Printed, Curved, and Paper Battery), Chargeability, Application (Packaging, Smart Card, Wearable Electronics) and Region - Global Forecast to 2020", published by MarketsandMarkets, the flexible battery market is estimated to reach USD 617.86 Million by 2020, at a CAGR of 53.68% between 2015 and 2020.
Browse 75 market data Tables and 92 Figures spread through 187 Pages and in-depth TOC on "Flexible Battery Market".
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The flexible battery market is expected to grow at a CAGR of 53.68% between 2015 and 2020. Companies are developing new technologies and cost-effective solutions in order to deal with trends such as products and devices being portable, flexible, automated and connected, including factors such as safety, security, and environmental responsibility. With the help of flexible battery, the end users are able to shift from conventional battery to flexible battery for products with limited internal space.
The advantages of thin- film li-ion battery are flexibility, light weight, can be rolled and folded without any loss of energy, and their ability to be disposed of easily, are dragging the manufacturers to consume them over a conventional lithium-ion battery which is bulky and rigid.
The flexible battery market has been segmented based on the technology, chargeability, application, and geography. Packaging segment is expected to lead the market during the forecast period and they accounted for ~30% of share in 2014. This market is expected to grow at a CAGR of 47.91% between 2015 and 2020. The market for the same is expected to grow at a high CAGR of 77.58% between 2015 and 2020 because of the growing advancements in consumer electronics.
This report describes the drivers, restraints, opportunities, and challenges with respect to the flexible battery market. The factors which are driving the flexible battery market include increasing miniaturization of products. The restraining factors affecting the market include high capital investment and the lack of proper standards for developments. Wearable electronics are electronic device and are expected to provide new growth opportunities for players in the flexible battery market. Unavailability of material can produce sufficient power supply and is the key challenges for the growth of this market.
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This report provides a detailed view of the market across different regions, namely, North America, Europe,Asia-Pacific, and RoW. North America accounted for the largest share of ~35% of the flexible battery market in 2014; the market in the region is expected to grow at a CAGR of 51.97% between 2015 and 2020. Major players involved in the development of flexible battery include Samsung SDI Co. Ltd. (South Korea), LG Chem Ltd. (South Korea), STMicroelectronics N.V. (Netherland)Rocket Electric Co. ltd (South Korea), Blue Spark Technologies Ltd. (U.S.), Enfucell Oy Ltd. (Finland), Fullriver Battery New Technology Co., Ltd. (China), Paper Battery Co. Inc. (U.S.), BrightVolt, Inc. (U.S.), and Ultralife Corporation (U.S.) among others.