The Global Flexible Battery Market is further estimated to grow at a CAGR of 42.65% from 2018 to 2023 to reach USD 1,087.68 Million by the year 2023.
GLOBAL FLEXIBLE BATTERY MARKET was valued at USD 129.06 Million in the year 2017.
North America region holds the highest market share in 2017 and Asia-Pacific market is considered as the fastest growing market in the forecasted period. At a country level, developed markets like the U.S.
as well the emerging markets like China with highest population base holds the notable market share in 2017 and it is projected to grow at a gradual rate in the coming years.
Apple Inc. (US), Panasonic Corp. (Japan), Samsung SDI Co., Ltd. (South Korea), LG Chem Ltd.
(South Korea) are some of the key players in the Flexible Battery market with Samsung SDI Co., Ltd. holding the substantial market share because of its better global presence both at production and at an operational level.
Rising research and development expenses to cater to changing demand of end users, similarly, growth strategies such as collaboration are adopted by top players Apple & LG in order to reduce the production cost.
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Introduction of flexible wearable devices like smartwatches
High manufacturing cost due to the complexity and added components of the flow system
Introduction of printed flexible batteries for smart fabrics with top players creating prototypes
Technical issues like degradation of electrodes under external load
Segmentation done on the basis of Application includes Smart Packaging, Consumer Electronics, Entertainment, Wearable Devices of which the Smart Packaging segment is expected to hold the highest market share during the forecast period. This market share is expected as smart packaging is an important element of the Internet of Things and Industry 4.0.
Different brands now offer more value to the product by providing consumers more information, like freshness, ingredients through packaging.
The Wearable Device segment is expected to grow at the highest CAGR during the year 2018-2023. This growth is expected due to the introduction of flexible watches by top manufacturers like Apple, Samsung, and LG.
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Key Benefits for Stakeholders
Flexible Battery Manufacturers
Wearable Device and Consumer Electronics manufacturers & distributors
Wireless Communication product & service providers.
Key Market Players
Samsung SDI Co., Ltd.
LG Chem Ltd.
NEC Energy Solutions Inc.
Blue Spark Technologies, Inc.
Enfucell OY Ltd.
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