The global Thin Film Battery Market size is anticipated to value at USD 1.72 billion by 2025. The market is subject to display substantial growth due to the increasing demand for thin-film batteries in wearable electronics devices, growing applications in the Internet of Things (IoT), and medical tracking devices in both emergent and emerging countries. The latest trend involving the growing adoption of wearable electronic devices is a key factor responsible for the rising demand for thin-film batteries across the globe in recent years. Additionally, the growing preference towards thin-film batteries due to minimum environmental hazards in comparison with traditional lithium-ion batteries is fueling the growth of the market over the forecast period. Globally, the thin film battery industry is predicted to grow at a CAGR of 27.4% in the forecast period, providing numerous opportunities for market players to invest in research and development in the market.
Recent technological advancement in the global battery industry which is credited to the growing demand from end-user industries is propelling the growth of the market in recent years. The thin-film batteries are more durable and flexible in comparison with traditional batteries. Additionally, higher performance associated with the thin film batteries is attributed to the implementation of specific designs during its manufacturing processes.
The growing popularity of thin-film batteries in portable electronic devices is attributed to their lightweight, flexibility, and relatively small size, thus revolutionizing the entire battery segment. These advantages coupled with high-end safety in electronic devices and medical applications are propelling the expansion of the thin-film battery market over the forecast period. Growing demand and increasing awareness about the advantages of the thin film batteries across the globe are extending the reach of the thin-film battery industry in coming years.
Recent developments regarding substantial improvement in its charge density and battery life have eradicated all previous shortcomings of the thin film batteries in recent years. Application involving wearable electronic devices such as smartwatches, heart rate monitoring miniature medical devices are increasingly adopted by users, thus breaking conventional technological barriers and making the batteries to be more flexible and thin. Government laws and regulations regarding excessive use of heavy metals such as cadmium and mercury during the manufacturing of the batteries are propelling the growth of the thin-film battery market. Significant efforts are being made to further enhance the capabilities of the thin film batteries by manufacturers such as superior performance and improved service quality.
The flexible batteries are designed by specialized techniques involving deposition of materials layer by layer and vapor deposition. The result creates an effect of parallel plates electrodes, which are similar to normal batteries but considerably thinner as electrodes are closer to each other. The thickness of each plate varies from ten to fifteen micrometers, which is significantly smaller in comparison with its counterparts. Application of the thin film batteries varies from remote sensors to RFID tags, and smart card readers. Though, the base ingredients used during the manufacturing of the thin film batteries are significantly costly in comparison with traditional batteries. The raw material used in the thin film batteries includes lithium, Zinc, Aluminum, and other metals.
The thin-film battery industry is divided into regional market segments such as North America, Europe, Asia-Pacific, Latin America, and Africa. North America and Europe have shown major growth in recent years owing to the rise adoption of the latest technologies and significant effort by industry players in the research development of thin-film batteries.
Asia-Pacific region is predicted to hold a major market share in the thin film battery market with massive growth in the forecast period. Countries such as India, China, and Japan are leading the Asia-Pacific market with numerous technological innovations and the growing popularity of thin-film batteries. The key players in the thin film battery industry are Blue Spark Technolgy, BrightVolt Co., Enfucell Oy, ST Microelectronics Ltd., Cymbet Ltd., Imprint Energy Co., and Jenax Incorporations.
Battery type Outlook (Revenue, USD Million, 2014 - 2025)
Voltage Outlook (Revenue, USD Million, 2014 - 2025)
• Below 1.5V
• 1.5V to 3V
• Above 3V
Application Outlook (Revenue, USD Million, 2014 - 2025)
• Wearable Devices
• Consumer Electronics
• Smart Cards
Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• the U.S.
• the UK
• the Asia Pacific
• South Korea
• South & Central America
• the Middle East and Africa
Research Support Specialist, USA
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