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LONDON , Oct. 14, 2022 /PRNewswire/ -- The Global Thin Film and Printed Battery Market is reckoned to amass a valuation of USD 538.6 Million by 2028 from USD 121.5 Million in 2021, registering a CAGR of 23.7% over 2022-2028.
Thin Film and Printed Battery are nano-sized flexible, rechargeable, and stretchable batteries that are predominantly used in electronic products such as laptops, mobile phones, and tablets, among others. These batteries are mainly made up of lithium ion and are specifically designed to be mounted according to the shape and size of any end use product.
The increasing adoption of electronic devices among the masses, rising disposable income levels, and widespread technological advancements are primarily fueling the growth of this business vertical. Due to their flexible and stretchable nature, these batteries can be integrated in a wide range of electronic devices irrespective of their shape and size. This is further adding traction to the development of this market. Moreover, surging trends of device miniaturization in order to make them easily portable is further escalating the demand for thin films and printed batteries across the globe.
These batteries are energy efficient in nature as compared to their traditional counterparts. It is evident that widespread population expansion and industrialization has increased the energy needs of the masses. This in turn has led to the depletion of fossil fuels and other non-renewable energy sources, thereby increasing the environmental consciousness of individuals. Due to their power saving nature, thin film and printed batteries are being extensively adopted by consumers worldwide.
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Thin Film and Printed Battery Market Competitive Landscape
These Companies are amplifying their global footprint by engaging in mergers & acquisitions, product launches, R&D investments, collaborations, and partnerships, among others.
Also, the rising adoption of wireless sensors across various verticals such as public security, healthcare, and communication is escalating the demand for thin film and printed batteries across the globe. On the flipside, high costs pertaining to these batteries is hindering the remuneration scope of this business vertical.
Historical Global Thin Film and Printed Battery Market Outlook Compared to Forecast 2022-2028
The marketplace has been registering notable gains over the last few decades. With prompt technological advancements and emergence of innovative electronic devices, the sale of thin film and print batteries has surged exponentially.
People have started depending on consumer electronic goods for various daily tasks including cooking, travelling, and communication, among others. This has shifted their inclination towards portable electronic items, thereby popularizing the trends of device miniaturization. Thus, the beneficial features of these batteries make them convenient for consumer electronic devices.
Moreover, manufacturers are investing whopping amounts to facilitate the development and launch of technologically advanced printed and thin film batteries.
What are the growth propellants for U.S. Thin Film and Printed Battery Market?
Rising popularity of wearable devices in the U.S. is accelerating industry growth
There has been a widespread adoption of wearable electronic devices like smartwatch among the masses across U.S. This is attributable to the increasing disposable income levels, rising digital literacy among consumers, and presence of leading industry players. Wearable devices are compact in nature and therefore are powered by thin film and printed batteries. This in turn is stimulating the dynamics of the marketplace in the U.S.
How is the healthcare sector in China contributing to the growth of Thin Film and Printed Battery Market?
Apart from consumer electronics items, thin film and printed batteries are also used in medical electronics devices like hearing aids. China is witnessing a rapid evolution in its healthcare sector as leading companies are launching innovative medical devices for fast paced diseases diagnosis and treatment. Flexible, energy efficient, and stretchable batteries are a pivotal component of every such equipment of device. Thus, technological advancements in the Chinese healthcare domain are positively influencing the overall industry growth.
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Global Thin Film and Printed Battery Market Segmentation: -
Which is the fastest growing capacity segment in the market?
The 10mAh capacity segment is slated to capture substantial returns over the forecast duration owing to their widespread integration in e-cigarettes, motorized toys, and portable media players, among others.
Recent developments in the Global Thin Film and Printed Battery Market
On November 22, 2021 , LionVolt BV, a Dutch Startup raised a funding of EUD 4 million from Prime Ventures and Netherlands Organization for Applied Scientific Research. The company intends to use the fresh funds for the development of its 3D solid state thin film battery range meant for electric cars and wearables.
North America is Expected to Dominate the Global Thin Film and Printed Battery Market
Geographically, North America is expected to dominate the global thin film and printed battery market within the forecast period due to the increasing adoption of smartphones, higher adoption of medical electronic devices and growing sales of wearable electronics in this region. The increasing adoption of smartphones is also driving the growth of the market. For instance, according to scientist research publishing, in June 2018 ; the number of smartphone users worldwide reached 2.5 billion, which is 33% of the world's population. In addition, the higher adoption of medical electronic devices is also supplementing the market growth in this region.
The Asia Pacific is the fastest-growing region in the global thin film and printed battery market due to the increasing adoption of printed battery technology in consumer electronics such as wireless sensor networks, remote controls, and smart cards, rising sales of wearable electronics and medical electronic devices such as hearing aids and respiratory aids, and the presence of key players in this region.
On Special Requirement Thin Film and Printed Battery Market Report is also available for below region:
Middle East and Africa
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