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The global flexible battery market was valued at US$ 102.3 Million in 2020 and is expected to surpass US$ 574.0 Million by 2028, registering a CAGR of 24.0% during the forecast period (2021-2028), according to the Global Flexible Battery Market Report, by Type (Thin-film Batteries and Printed Batteries), by Voltage (Below 1.5V, Between 1.5V and 3V, and Above 3V), by Capacity (Below 10 mAh, Between 10 mAh and 100 mAh, and Above 100 mAh), by Chargeability (Primary Batteries and Secondary Batteries), by Application (Consumer Electronics, Smart Packaging, Smart Cards, Medical Devices, IoT Devices, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa), published by Coherent Market Insights.

The rapid adoption of IoT technology is expected to drive the demand of global flexible battery market during the forecast period. The internet of things (IoT) devices has witnessed sharp growth in the recent past and anticipated to continue its growth during the forecast period. Flexible batteries can play crucial role in the development of IoT devices by providing advantages such as light weight, flexibility, and low charging thresholds. Thus growing demand of IoT devices can positively impact the global flexible battery market during the forecast period. For instance, according to Coherent Market Insights analysis, global IoT market is expected to reach US$ 1,423.8 billion by 2027 from US$ 759.3 billion in 2020. Furthermore, due to COVID 19 pandemic the focus on the personalized healthcare is increased which is expected to drive the demand of IoT devices in the healthcare sector. Moreover, according to Coherent Market Insights analysis, global IoT in healthcare is expected witness CAGR of 23.3% during the forecast period (2021-2028).

Flexible Battery Market - Impact of Coronavirus (Covid-19) Pandemic

Consumer electronics is one of the major contributor to the global flexible battery market however, due to COVID-19 pandemic it has witnessed significant drop in the sales, hampering the overall growth of the market. Consumer electronics industry’s supply chain is majorly centered in China. Leading OEMs of consumer electronic devices have their manufacturing facility in China, along with the manufacturing facility OEMs of components, the shutdown of manufacturing facilities in China has caused serious implication on the entire ecosystem of the consumer electronic industry.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/flexible-battery-market-4621

Browse 150 market data tables* and 90 figures* on “Flexible Battery Market- Global forecast to 2028”

Key Trends and Analysis of the Global Flexible Battery Market:

  • Among regions, Asia Pacific is expected to one of the fastest growing market the global flexible battery market. For instance, according to CMI’s analysis, countries such as India and China exhibit potential in the global flexible battery market. This is attributed to relatively high economic growth coupled with rising technological adoption in the country. Government in these countries are also heavily investing in improving technological adoption and countries manufacturing capacity. For instance, in April 2014, the government of India is launched “Make in India” initiative in order to increase India’s domestic production of automotive, consumer electronics, and other devices. This is expected to positively impact the global flexible battery market during the forecast period.
  • Among type segment, thin-film batteries is expected witness significant growth during the forecast period. As the demand of flexible batteries is increasing the battery manufacturing companies are focusing on the batteries that are cost effective, easy to dispose, and enables proper function battery powered devices. Several key players in the market are offering such batteries for the medtech and wearable devices. For instance, Molex LLC, a U.S. based Industrial Automation Solutions providing company is offering Thin-Film Battery with 1.5V and 3.0V for medtech and industrial applications.
  • Major players operating in the global flexible battery market include SAMSUNG SDI CO.,LTD., LG Chem, Jiangsu Enfucell Flexible Electronics Co., Ltd., Blue Spark Technologies, Apple, Inc., Panasonic Corporation, Ultralife Corporation, BrightVolt, Imprint Energy, Energy Diagnostics, Jenax, and others.
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