Flexible Battery Market - Forecasts from 2019 to 2024

The flexible battery market is anticipated to grow at a CAGR of 38.05% during the forecast period, to reach a total market size of US$610.619 million in 2024 from US$88.211 million in 2018. The demand for thin, flexible printed batteries has gained traction in recent years due to the rising adoption of the Internet of Things (IoT) and burgeoning demand for flexible electronics. Also, miniaturization of electronic devices has played a quintessential role in the development of such thin and flexible batteries. Therefore, rapid development in wearable and flexible electronics due to rising disposable income has significantly contributed to the rising demand for such batteries. Moreover, the increase in demand is substantiated from the fact that key players have launched a range of lithium-based flexible batteries for a range of applications. For instance, in 2016, Panasonic Corporation introduced highly-flexible Lithium-ion batteries that can withstand repeated bending with a radius of 25mm or twisting of 25 degrees with no loss of function. Similarly, players like Samsung, Jenax Inc., and Molex among others have launched flexible batteries in recent years to meet the growing demand for flexible electronic products, thus driving the flexible battery market growth. Thus, the flexible battery market is anticipated to witness a staggering growth on account of rising IoT penetration across regions and expanding demand for flexible electronics. Also, growing research and development to develop paper-based battery is further anticipated to drive the flexible battery market growth in the upcoming years.

By Type

By Type, the flexible battery market has been segmented as thin & printed, and ultra-thin flexible battery. The thin & printed held a significant share in the market on account of an increased number of flexible battery products being launched by the major players in the market.

By Chargeability

By Chargeability, the flexible battery market has been segmented as single-use and rechargeable. The demand for rechargeable flexible batteries is anticipated to grow at a good rate during the forecast period owing to the rising need to incorporate such batteries in various applications such as portable devices, wearable electronics and etc.

By Application

By application, the flexible battery market has been segmented as wearable devices, portable devices, military, and others. Others include smartcards, accessories, apparel and etc. Wearable devices held a considerable share in the market as it is one of the initial applications that has augmented the demand for flexible batteries.

By Geography

Geographically, the flexible battery market is segmented as Americas, Europe Middle East & Africa (EMEA), Asia-Pacific. The Americas flexible battery market is expected to grow at a good rate on account of the rising penetration of IoT devices in industrial, commercial, and residential sectors which in turn is going to augment the demand for flexible batteries for various IoT devices.

Competitive Landscape

The flexible battery market is moderately competitive owing to the presence of important international as well as domestic players and their continuous involvement in the market in the form of research and development, and launches. The competitive landscape details strategies, products, and investments being done by key players in different technologies and companies to boost their market presence.

Segmentation

The flexible battery market has been segmented by type, chargeability, application, and geography.

By Type

• Thin & printed
• Ultra-thin

By Chargeability

• Single-Use
• Rechargeable

By Application

• Wearable devices
• Smartwatch
• Smart Glasses
• Fitness Band
• Others
• Portable Electronics
• Military
• GPS Tracker
• Military Helmet
• Wearable Robots
• Others

By Geography

• Americas
• USA
• Canada
• Mexico
• Brazil
• Others
• Europe Middle East and Africa (EMEA)
• Germany
• France
• United Kingdom
• Saudi Arabia
• Others

Asia Pacific

• China
• Japan
• South Korea
• India
• Others

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