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| Flexible Battery Market |
The global Flexible Battery Market is estimated to be valued at US$ 162.48 Mn in 2023 and is expected to exhibit a CAGR of 20.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Flexible batteries have many advantages over rigid lithium-ion batteries such
as bendability, flexibility, portability and lightweight. They can efficiently
power wearable devices, disposable medical devices, smart packaging and other
flexible electronics by adhering or integrating with the product design.
Market key trends:
Miniaturization of electronics is one of the major trends in flexible battery
market. Continuous innovation and technology advancement have led to the
miniaturization of electronic devices and circuits. This has significantly
increased the demand for compact power sources such as flexible printed
batteries that can easily power miniature flexible electronic devices including
wearables. The demand of lightweight and compact power sources will continue to
surge for applications involving small and flexible electronic devices and
circuits.
Segment Analysis
The global flexible battery market is segmented by type, chargeability, and
application. Based on type, the market is categorized into thin-film battery
and printed battery. Thin-film batteries are dominating the market and
accounted for over 60% market share in 2023 owing to its features like thin,
lightweight, and flexible nature. By chargeability, the market is divided into
single-use and rechargeable batteries. Rechargeable batteries are dominating
with over 70% share as they offer economic benefits over single-use batteries.
Based on application, the market is classified into consumer electronics,
medical devices, smart packaging, wireless communication, and others. Consumer
electronics dominated with over 30% share due to increasing adoption of
flexible displays in smartphones, laptops, and other devices.
Key Takeaways
The global Flexible
Battery Market Growth size was valued at US$ 162.48 Mn in 2023. It is
expected to witness high growth, exhibiting a CAGR of 20.% over the forecast period, due to increasing adoption
of flexible electronics.
Regional analysis- North America dominated the market with over 30% share in
2023 owing to rising investments in wearable devices and 5G infrastructure in
the US and Canada. Asia Pacific is expected to be the fastest-growing region
during the forecast period owing to the presence of top electronics
manufacturers in countries like China, South Korea, and Taiwan.
Key players- Key players operating in the flexible battery market are
STMicroelectronics, LG Chem, SAMSUNG SDI CO., LTD., Panasonic Corporation,
ROCKET Poland Sp. z o.o., Enfucell, Imprint Energy, Energy Diagnostics., Jenax
Inc., and Molex. STMicroelectronics holds nearly 15% market share owing to its
expertise in microelectronics and focus on next-generation battery solutions.
For more details on the report, Read- https://www.ukwebwire.com/flexible-battery-market-trends-size-and-share-analysis/
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