The global thin film battery market is driven by increase in adoption of Internet of Things (IoT) technology and widespread use of wearable sensor technology.
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Thin film battery market are constructed by depositing thin film components on a substrate. The demand for thin films has increased across various industries, owing to the growing trend of innovation and miniaturization.
This type of battery is considered intrinsically safe, as it is manufactured using inorganic glass electrolyte and solid state materials. Conventional batteries are prone to explosion or leakage at high temperatures, however thin film batteries have excellent stability at high temperature.
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In addition, the use of thin cathodes in these batteries prolongs its shelf life. The major features offered by these batteries are lightweight and compact size of devices using such batteries.
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In addition, surge in demand for thin filmed batteries with large storage capacity supplement the market growth. However, short shelf life and lack of ability to generate high current across solid-solid interfaces hamper the growth of the industry.
Moreover, innovative and enhanced features and unique design abilities provided by these batteries create new avenues for the market.
The global thin film battery market is segmented on the basis of technology, chargeability, application, and geography. Based on the type of technology used, the industry is classified into zinc-based thin-film, thin-film lithium, thin-film lithium polymer, laminar fuel cells, solid state, and stretchable & transparent batteries.
Rechargeable and non-rechargeable batteries are the broad categories of the chargeability segment. The application areas of the market are smart cards & RFIDs, Internet of Things (IoT), smart wearables, smart packaging interactive media, electronic textiles, toys, healthcare, and portable electronics.
The market is analyzed based on four regions, namely Asia-Pacific, North America, Europe, and LAMEA.
The key players operating in the market are Blue Spark Technologies Inc., FlexEL, BrightVolt Inc., ITN Energy Systems Inc., Front Edge Technology Inc., Samsung SDI Co. Ltd., Imprint Energy, Rocket Electric Co.
Ltd., NEC Corporation, and STMicroelectronics. These market players have adopted various strategies such as new products launch, expansion, collaboration, joint ventures, partnerships, mergers & acquisitions, and other strategies to consolidate their market position and gain competitive edge in the market.
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