Flexible batteries are designed in such a way that they offer higher performance. Moreover, they are less bulky than conventional batteries, thus the demand for flexible batteries is expected to be remarkable in the coming years. Transparency Market Research (TMR) in its latest report, studies the global flexible battery market from a global perspective as well as studies the market’s performance in each of the key regions such as North America, Asia Pacific, Europe, and the Rest of the World. The report is titled “Flexible Battery Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025Top of Form.”
The report studies the key segments of the global flexible batteries market. The key segments along with their sub-segments that have been studied are: geography, product type, chargeability, and application. On the basis of product type, the market is sub-segmented into advanced lithium ion battery, laminar lithium-polymer battery, printed battery, flexible zinc carbon batteries, thin film battery, and flexible solar batteries. By chargeability, the market is divided into single use flexible batteries and chargeable flexible batteries.
According to the report, there is a growth in the global flexible batteries on account of their applications in medical devices and consumer electronics. Since the consumer electronics industry is growing at a rapid pace, the demand for flexible batteries is also expected to grow in the coming years. similarly, the rise in the prevalence of various diseases as well as technological advancements have led to a surge in the demand for medical devices, which in turn is benefitting the global demand for flexible batteries. In addition to this, the market is also gaining from the use of flexible batteries in smart cards and smart packaging. As the world is inclined towards everything smart, the demand for flexible batteries is expected to heighten.
The report states that the extensive research and development taking place in the field of electronics, so as to minimize their cost and boost battery life will create growth opportunities for the players venturing in the global flexible batteries market. Rapid investments in flexible batteries done by major companies such as Exxon Mobil Corp. and IBM will further drive the growth prospects of the market worldwide. In addition to this, the use of flexible batteries in wearable devices and the growing penetration of Internet of Things will ensure the growth of this market in the period from 2017 to 2025. The high cost of investment in this market will however be a challenge for this industry. In addition to this, the availability of low cost alternatives such as nickel, zinc, and lithium-ion batteries will further restrict the demand for flexible batteries. .
Some of the major players functioning in the flexible battery are, Samsung SDI Co. Ltd. (South Korea), LG Chem Ltd. (South Korea), STMicroelectronics N.V. (Netherland), and Enfucell Oy Ltd. (Finland).