Portland, May 06, 2020 (GLOBE NEWSWIRE) -- Allied Market Research published a report titled, “Flexible Thin Film and Printed Battery Market By Chargeability (Rechargeable, Non-Rechargeable) and By Application (Consumer Electronics, Energy Harvesting, Pharmaceutical & Medical Devices, Packaging, Smart Cards, Wearable Technology, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027” According to the report, the global flexible thin film and printed battery industry was estimated at $1.21 billion in 2019, and is expected to hit $11.03 billion by 2027, registering a CAGR of 30.9% from 2020 to 2027.
Drivers, Restraints and Opportunities
Advancement in IoT, increase in demand for smart electronic products, and rise in government concerns for flexible electronics drive the growth of the global flexible thin film and printed battery market. On the other hand, lower energy density and several cost constraints hamper the growth of the market. Nevertheless, development in printed electronics and production of rechargeable batteries are expected to create lucrative opportunities in the near future.
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COVID 19 Scenario
COVID 19 has impacted the global flexible thin film and printed battery market quite negatively
- The ongoing pandemic has hampered the raw materials supply, when the labors and the transportation have also witnessed several challenges. This would lead to augmented operating and production outlays for manufacturers.
- Also, stakeholders entailed in the supply chain are facing a number of challenges, which exposes the market to potential risks in the short term.
- At the same time, a steep decline in the purchase of wearable devices would impede the market growth.
The Non-Rechargeable Segment to Maintain the Lion’s Share By 2027
Based on chargeability, the non-rechargeable segment contributed to more than half of the global flexible thin film and printed battery market revenue in 2019, and is expected to retain its dominance by the end of 2027. The rechargeable segment, on the other hand, would register the fastest CAGR of 32.2% throughout the forecast period. This is due to rise in demand for portable electronics and wearable technology.
The Consumer Electronics Segment to Dominate During the Estimated Period
Based on application, the consumer electronics segment accounted for nearly one-fourth of the global flexible thin film and printed battery market share in 2019, and is anticipated to rule the roost during the study period. Contribution of flexible batteries for the new design of consumer electronics fuels the segment growth. Simultaneously, the wearable technology segment would portray the fastest CAGR of 35.0% till 2027. Growing adoption of wearable technology catering to fitness, healthcare, army, navy, and infotainment boosts the segment growth.
Asia-Pacific, Followed By North America, to Dominate in terms of Revenue
Based on region, Asia-Pacific, followed by North America, held the largest share in 2019, garnering more than two-fifths of the global flexible thin film and printed battery market. The same region is also projected to manifest the fastest CAGR of 32.7% by 2027. This is attributed to the opportunities of innovation associated with flexible and printed batteries.
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Frontrunners in the Industry
- Blue Spark Technologies
- Bright volt, Inc.
- Cymbet Corporation
- Excellatron Solid State, Inc.
- Imprint Energy Inc.
- Jiangsu Enfucell Flexible Electronics Co., Ltd.
- Panasonic Corporation
- Prologium
- Samsung SDI
- STMicroelectronics
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