Market Research Report
Thin Film Battery Market Size, Share & Trends Analysis Report By Voltage (Below 1.5V, Above 3V), By Battery Type (Disposable, Rechargeable), By Application (Medical, Smart Cards, Wearables), And Segment Forecasts, 2020 - 2027
|Thin Film Battery Market Size, Share & Trends Analysis Report By Voltage (Below 1.5V, Above 3V), By Battery Type (Disposable, Rechargeable), By Application (Medical, Smart Cards, Wearables), And Segment Forecasts, 2020 - 2027|
Published: August 18, 2020
Grand View Research, Inc.
Content info: 130 Pages
Delivery time: 2-10 business days
Market Growth & Trends
The global thin film battery market size is projected to reach USD 5.2 billion by 2027, expanding at a CAGR of 35.52%, according to a new report by Grand View Research, Inc. Growing demand from applications, such as medical tracking and smartwatches, is likely to boost the market growth. Thin-film battery has high demand owing to its small size and low weight. Moreover, it does not contain harmful chemicals and is resistant to explosion and fire. Furthermore, growing product demand to provide power for small form-factor devices is a major driving factor for the market growth in the medical and wearables applications.
Therefore, key players in the market are focusing on technological advancements and to increase service quality and efficiency. With customers being more tech-savvy, the demand for such electronic devices is expected to increase over the forecast years. Increasing usage of devices, such as fitness bands and smartwatches, is making the demand and supply for thin-film batteries even more proper. These factors are expected to boost the growth of the market in the forecast period.