Thin Film Battery Market to grow at 25% CAGR from 2016 to 2024

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Thin Film Battery Market to reach 1.8bn by 2024
Fractovia.org
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Key Insights of Thin Film Battery Market

• Thin Film Battery Market will exceed USD 1.8
  billion by 2024, driven by growing demand for
  portable and flexible electronic devices.
• Thin film battery market is set to cross the
  billion-dollar benchmark by 2024, with a targeted
  industry valuation of USD 1.8 billion.
  Reportedly, the overall thin film battery
  industry share was worth USD 200 million in 2015.
  The huge growth that this business is anticipated
  to witness can be credited to its myriad
  applications across a wide range of sectors
  including medical devices, wearable electronics,
  consumer products, smart cards, sensors, and
  RFID. Banking and government institutes are the
  two major sectors witnessing a noticeable
  adoption of these batteries.
• Driven by the security demands, smart cards have
  become one of the prominent revenue contributors
  to the global thin film battery industry share.
  In 2015, this application segment was worth USD
  10 million and is expected to exhibit a
  remarkable surge over the coming years. As per
  the estimates, thin film battery market size from
  smart card application is expected to surpass USD
  130 million by 2024. The growth can also be
  credited to the increasing adoption of smart
  cards across a wide range of sectors such as
  transportation, medical, IT, and BFSI.

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Continued

• Over the recent years, RFID thin film battery
  industry has also gained a prominent significance
  with its wide spectrum of applications in
  logistics, material management, and inventory
  control. Despite occupying a minor share of 7 of
  the overall market in 2015, the RFID applications
  are slated to witness commendable gains over the
  coming seven years.
• The expanding wearable devices market is further
  influencing the overall thin film battery
  industry share. In 2015, the thin film battery
  market share from wearable devices application
  was worth USD 80 million. The rapidly growing
  trend of IoT is certain to create a pool of
  opportunities for this industry over the years
  ahead. In this regard, Asia Pacific is one of the
  prominent regions substantially contributing to
  the global share with a commendable adoption rate
  of wearable devices. In addition, the surging
  demand for battery-based vehicles and economic
  development of the region will further push the
  APAC growth.

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UK Thin Film Battery Market size, by application
2013-2024 (USD Million)

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Continued.

• As per reliable estimates, approximately 95 of
  the credit cards would be deployed with EMV chip
  by 2018. This fact is poised to massively drive
  the U.S. thin film battery market share.
  Reportedly, the region registered a valuation of
  USD 70 million in 2015. European market will also
  witness lucrative gains over the coming years
  with U.K. and Germany driving the regional
  demand. The technological advancements pertaining
  to the medical devices will drive Europe thin
  film battery market share.
• Industry participants are heavily investing in
  RD activities to expand their product portfolio
  in terms of the technological advancements and
  the smart consumer demands. Key players in this
  market include Excellatron, ST Microelectronics,
  NEC Corporation, Jenax, Enfucell Oy, Imprint
  Energy, BrightVolt Inc, FlexEl, PowerId, Cymbet
  Corporation, and Thinfilm.

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