The thin film and printed battery market size is expected to grow from US$ 197.31 million in 2022 to US$ 904.94 million by 2030; it is estimated to record a CAGR of 21.0% from 2022 to 2030.
Analyst Perspective:
Thin film batteries are being used in wearable electronics such as fitness bands, smartwatches, headsets, and other devices because of their improved recharge rate and small size, rising the demand for thin film and printed batteries. Also, the growing adoption of 5G is raising the demand for connected electronic devices, boosting the growth of the market. In addition, the increasing use of smart cards, such as EMV chip card technology, is propelling the demand for thin film and printed batteries worldwide. As smart cards are created at high temperatures of 130–150ºC, which degrades the organic content of ordinary batteries and prevents them from functioning, the demand for thin film and printed batteries is increasing for the production of smart cards, making it another important thin film and printed battery market trend. Furthermore, the growing miniaturization of electronic devices is expected to create growth opportunities for the thin film and printed battery market during the forecast period.
Thin Film and Printed Battery Market Report Overview:
Thin film batteries are solid-state batteries that range in size from nano to millimeters. They consist of an anode, a cathode, an electrolyte, and a separator. Thin-film lithium-ion batteries perform better than regular lithium-ion batteries due to their higher average output voltage, lower weight, higher energy density, longer cycling life, and ability to function at temperatures ranging from -20°C to 60°C. These batteries are utilized in a variety of applications, including smart cards, wireless sensors, laptops, touch screens, astronomical mirrors, RFID tags, photovoltaic energy generation and storage, and implantable devices.
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Thin Film and Printed Battery Market: Strategic Insights
Market Size Value in US$ 197.31 million in 2022 Market Size Value by US$ 904.94 million by 2030 Growth rate CAGR of 21.0% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Thin Film and Printed Battery Market: Strategic Insights
| Market Size Value in | US$ 197.31 million in 2022 |
| Market Size Value by | US$ 904.94 million by 2030 |
| Growth rate | CAGR of 21.0% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Market Driver:
Emergence of 5G Drives Thin Film and Printed Battery Market Growth
The 5G network is ∼100 times faster than the 4G network, making real-time data acquisition easier. As the 5G network provides strong connectivity and high-speed data transfer, its demand is increasing worldwide. According to the Groupe Speciale Mobile Association (GSMA), 5G penetration globally is expected to reach 54% by 2030 from 17% in 2022. North America had the highest 5G penetration, with 39% in 2022; it is expected to reach 91% by 2030. 5G penetration in Asia Pacific (except China) and Europe is expected to increase from 4% and 11% in 2022 to 41% and 87% by 2030, respectively.
As 5G is the critical new-generation network technology that can enable innovation and support digital transformation, its demand is increasing worldwide. Therefore, the governments of various countries are investing in 5G infrastructure. In July 2021, the government of France announced its plan to invest ~US$ 2.06 billion (EUR 1.7 billion) in its 5G market by 2025 via public and private investments. Through this, the government aims to accelerate the development of 5G in the country. Similarly, in January 2021, the government of South Korea announced that it would increase the coverage of the next-generation mobile networks, particularly 5G, to 85 cities this year from the current seven major cities. It invested ~US$ 115.89 million (KRW 127.9 billion) in 2021 to encourage the use of private 5G networks. With the growing adoption of 5G worldwide, the demand for connected electronic devices is increasing, propelling the thin film and printed battery market growth.
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Segmental Analysis
Based on application, the market is divided into consumer electronics medical devices, smart packaging, smart cards, wireless sensors, and others. The consumer electronics segment held the largest thin film and printed battery market share in 2022, whereas the smart cards segment is anticipated to register the highest CAGR during 2022–2030. As per the thin film and printed battery market forecast, the widespread use of flexible, printed, and thin-film batteries in tablets, smartwatches, televisions, and other household and portable devices is expected to fuel the demand for thin film and printed batteries.
To fulfill the growing demand for thin-film and rechargeable flexible batteries in the electronics sector, battery makers are concentrating on low-cost manufacturing techniques such as material deposition utilizing high-density plasma. Additionally, a stack of thin-film cells is put together to serve as a cutting-edge battery for a variety of portable electronics, including smartphones, fueling the market growth for the segment.
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Thin Film and Printed Battery Market Analysis: Regional Overview
Asia Pacific held the largest thin film and printed battery market share in 2022, followed by North America. The market in North America is experiencing robust growth. The rising trend of miniaturization in consumer electronics is a significant driver for the market in the region. As consumers seek smaller and more portable electronic devices, there is a growing need for compact and efficient power sources. Furthermore, the proliferation of IoT and smart devices is another crucial factor propelling the market in North America. Moreover, the increasing adoption of IoT devices across various industries, such as healthcare, transportation, and smart home applications, creates immense opportunities for thin film and printed battery manufacturers in the region.
Key Player Analysis:
Molex LLC, Varta AG, Renata SA, Enfucell Flexible Electronics Ltd, STMicroelectronics, Samsung SDI CO LTD, Excellatron Solid State LLC, Ultralife Corporation, Ilika, and Imprint Energy are the key players profiled in the thin film and printed battery market report.
Recent Developments:
The thin film and printed battery market players highly adopt inorganic and organic strategies. A few recent key market developments are listed below:
- In September 2023, a team of researchers from the Swiss Federal Laboratories for Materials Science and Technology (EMPA) launched a spin-off company called BTRY, which aims to bring its solid-state battery to the market. The company will manufacture thin-film cells using vacuum coating, where the desired materials are atomized in a vacuum chamber to form individual atoms. These atoms are then deposited in a precisely controlled layer on the target substrate.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Voltage Rating, Chargeability, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The incremental growth expected to be recorded for the thin film and printed battery market during the forecast period is US$ 707.63 million.
The thin film and printed battery market is expected to reach US$ 904.94 million by 2030.
Asia Pacific is anticipated to grow with the highest CAGR over the forecast period.
The US held the largest thin film and printed battery market share in 2022.
The key players holding majority shares in the thin film and printed battery market are Thales, IBM Corporation, Hewlett Packard Enterprise Development LP, STMicroelectronics, and Infineon Technologies AG.
The increasing adoption of smart cards plays a significant role in the thin film and printed battery market in the coming years.
Rising demand for wearable electronics devices and emergence of 5G are the major factors that propel the thin film and printed battery market.
The thin film and printed battery market was estimated to be US$ 197.31 million in 2022 and is expected to grow at a CAGR of 21.0% during the forecast period 2022 - 2030.
The List of Companies - Thin Film and Printed Battery Market
- Molex LLC
- Varta AG
- Renata SA
- Enfucell Flexible Electronics Ltd
- STMicroelectronics
- Samsung SDI CO LTD
- Excellatron Solid State LLC
- Ultralife Corporation
- Ilika
- Imprint Energy
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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