FLEXIBLE BATTERY MARKET TO REACH USD 380.2 MILLION BY 2027 | CAGR 26.5% – FORENCIS RESEARCH

Global Flexible Battery Market: Key Highlights

• According to the new market research report “Flexible Battery Market by Type (Thin-Film Battery, Printed Battery, Curved Battery and Other), by Component (Electrodes, Electrolytes and Others), by Chargeable Type (Rechargeable Battery and Single Use Battery), by Materials (Lithium Polymer, Zinc and Lithium Ion), by Voltage Type (: Below 1.5V, between 1.5V and 3V and above 3V), by Application (Consumer Electronics, Medical Tools, Entertainment, Smart Packaging, Wireless Communication/Sensor and Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2020 to 2027)”, the global Flexible Battery Market is estimated to reach USD 380.2 Million by 2027 at a CAGR of around 26.5% during the review period.
• The flexible battery benefits with light weight, flexibility, high power and portable device which can be easily implement into the product such as wearable electronics and flexible device.
• Moreover, these battery can be implemented to a various range of devices which require energy storage and can be used in both connected and wearable devices.

Global Flexible Battery Market: Key Market Dynamics

• With the rising demand of Internet of things (IoT) devices is a key driver in the growth of medical sector in the forecast period. Also it being used in medical industries for designing and flexible battery to enhance the power and for smart patches.
• The growing demand of the IoT device and use of flexible battery in medical device to treat the patients during the pandemic may lead to increase the demand of the market in the projected period.
• One of the major key concern of the flexible battery market is the high cost of initial investment which may hamper the market growth. The high upfront costs with compared to various other technologies enable them to high cost make up for the high initial cost by providing high lifetime efficiency
• The rising growth of smart cards in telecommunication and banking sector for payment applications has boost the growth of the thin film batteries of the flexible battery market in the anticipated period.

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Global Flexible Battery Market: Regional Overview

• North America:

The flexible battery market in the North American region is projected to witness high demand due to the more consumer IoT and electronic devices in the region.

The region is one of the largest IoT space attribute and the start-up is enhancing faster in comparison to the other region. Moreover, the United States has the most advance software with the information technology services industry globally. Also, the US government launched a website AI.gov. to increase awareness and demand of artificial intelligence.

Furthermore, the United States creates major international activities which support to promote the adoption of AI and new technologies.

• Europe

Europe is the third major adoption for IoT after the Asia-Pacific and North America. The region market for Internet of things (IoT) integration with the big data is enhancing. The region has advances its core IT support with the IoT Technologies. According to the European Commission, in 2015 the e Alliance for Internet of things Innovation is being launched to support the innovation and development to boost the European Internet of Thing ecosystem.

Global Flexible Battery Market: Key Players Overview

• Ultralife Corporation:

The company is one of the leading provider of power solution and communication system for the user globally. Also, the company serves governments and defense, security, robotics and energy around the world. Whereas in 2019, the company has acquired Southwest Electronic Energy (SWE) for the enhancement of batteries and for charger technologies.

Hence, the company install and maintain power as well as the communication system such as rechargeable and non-rechargeable batteries and electronics systems.

• Enfucell Oy:

The company has introduce a flexible, ecofriendly and printable SoftBattery which can help to power the different IoT and wearable electronic product and applications. Also, the company offers product services for the large range of application of wireless services with the help of Bluetooth technology. Moreover in 2017, the company has signed a license with Central Midori for printing SoftBattery power source.

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