Thin Film and Printed Battery Market Anticipated to Reach USD 535.23 Million by 2028

Vantage Market Research

Jan 21, 2022

According to our latest report, the Thin Film and Printed Battery Market is expected to reach USD 535.23 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 23.8% between 2022 and 2028. The growth in this market is due to increasing its usage in the ongoing miniaturization of electronic devices, flexible printed batteries in IoT applications,s and application of these batteries in medical devices.

Key Findings:

  • The Below 1.5 V segment is projected to grow at a considerable CAGR of the forecast period. These batteries are designed for low-profile usages like smart labels, wearable electronics which are trending in the market.
  • The <10 MAH segment held a significant market share in 2021. Batteries with a capacity of <10 MAH are used in IoT devices, medical implants, cosmetic patches, CMOS memories, and other low drain devices because the devices are portable as well as have limited internal space.
  • Asia Pacific is expected to expand at the fastest CAGR from 2022 to 2028. The growth in the region is due to growth in the consumer electronics sector with an increasing number of manufacturers who are focusing on new product designs that require thin power sources for their compatibility.

Some of the major players in the Thin Film and Printed Battery Market include - Enfucell Oy Ltd. (Finland), Samsung (South Korea), Ultralife Corporation (US), LG Chem Ltd. (South Korea), and Blue Spark Technologies (US).

The demand for new and innovative electric devices is increasing globally due to which the requirement for batteries that are compatible with such new and innovative products is high. Additionally, investments are underway for making thin-film and printed batteries technologically advanced coupled with growth in the consumer electronics industry in emerging economies is anticipated to grow the Thin Film and Printed Battery Market globally. The demand for smart cards in the banking, telecommunication and transportation sectors is high.

North America is projected to hold a considerable market share in 2021. The growth in this region is driven by the high adoption of smart packaging and smart cards. These applications require thin and flexible power sources for operations. The players such as BrightVolt, Ultralife Corporation, and Blue Spark Technologies are contributing to the regional market growth.