Global Flexible Battery Market: Snapshot
Flexible batteries, as the name suggests, are flexible and conformal such that they can easily fix in a small area and angle. They can be either rechargeable or single-use. Their design provides significant benefits over their counterparts in terms of performance and form factor. These batteries find application in smart cards, consumer electronics, wearable devices, and medical devices. The global market for flexible batteries is at its nascent stage and is anticipated to expand at a healthy pace owing to the extensive research and development activities and growing investments from several blue chip players.
Innovation and rapid technological advancements taking place to enhance the form factor and overall battery life are providing a fillip to the market. Moreover, the rising penetration of Internet of Things (IoT) based devices is likely to translate into the greater uptake of flexible batteries. However, the presence of low-cost substitutes such as lithium-ion, nickel, and zinc batteries is restricting the global flexible battery market from realizing its utmost potential.
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Companies in the global flexible battery market are focusing towards new product development and economy of scale to attain sustainable growth. The tremendous potential of the market is attracting new players to foray into the market. However, due to the high initial capital requirements, the rate of penetration of large players in the flexible battery market is higher. The entry of players such as Apple, Samsung, and LG in the market is expected to stimulate the adoption of flexible batteries in consumer electronics.
Global Flexible Battery Market: Overview
The global flexible battery market is anticipated to witness strong growth in the next few years. The rising demand for flexible and thin battery from Internet of Things is considered to create promising opportunities for market players, thus fuelling market growth. In addition, the implementation of flexible lithium air batteries in the advanced wearable electronics is expected to encourage the growth of the market in the near future.
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The research study on the global flexible battery provides a comprehensive analysis, focusing on the market dynamics that are likely to impact the growth in the next few years. The technological developments, latest trends, and the limitations in the market have been highlighted in the research study. Moreover, the competitive scenario of the global flexible battery market has been included in the study.
Global Flexible Battery Market: Drivers and Restraints
The rising emphasis of leading players on miniaturization of electronic devices and the rising demand for wearable electronics are some of the key players anticipated to fuel the global flexible battery market in the next few years. In addition, the growing demand for flexible and thin batteries from the electronic devices industry is expected to encourage the growth of the global flexible battery market throughout the forecast period.
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On the flip side, the need for high initial investment and the lack of standardization in the market are considered to restrict the growth of the global flexible battery market in the coming years. Moreover, the creation of flexible lithium ion batteries and the unavailability of material, which is likely to offer sufficient power supply are projected to as major challenges for players operating in the global market.
Global Flexible Battery Market: Region-wise Outlook
The global market for flexible batteries can be categorized on the basis of geography in order to offer a strong understanding of the overall market. The key segments of the global market include the Middle East and Africa, Asia Pacific, North America, Latin America, and Europe. Among these, North America is likely to witness strong growth throughout the forecast period. The increasing popularity of wearable electronics in developed economies is one of the key factors anticipated to supplement the growth of the North America flexible battery market in the next few years.
On the contrary, Asia Pacific is projected to register a progressive growth rate in the forecast period. The growing demand from China and India, owing to the increasing number of consumer electronics production units is predicted to contribute towards the development of Asia Pacific market. The growing focus of key players on technological developments in the consumer electronics and smart packaging sectors and the rising demand for wearable devices are boosting the demand for flexible battery in Asia Pacific market for flexible batteries.
Key Players Mentioned in the Research Report are:
The global market for flexible batteries is extremely competitive in nature and is predicted to witness an entry of a large number of players throughout the forecast period. Some of the key players operating in the global market are Cymbet Corporation, LG Chem Ltd., Blue Spark Technologies, Inc., Brightvolt Inc., NEC Energy Solutions Inc., Solicore Inc., Samsung sdi Co., Ltd, Ultralife Corp., STMicroelectronics, Apple Inc., Panasonic Corp., Nokia Technologies, Front Edge Technology, Inc, and Enfucell OY Ltd.
The research study has offered a detailed overview of the competitive landscape of the global flexible battery market. Additionally, the profiles of the leading players, along with their inception details, financial status, and SWOT analysis have been provided in the research report. The recent developments, strategic collaborations, and mergers and acquisitions in the global flexible battery market have been discussed in the scope of the study.