- A recent study by Grand View Research, Inc. notes the worldwide printed battery market to experience rapid growth from 2015 to 2022. Technological advancements are boosting the demand for printed batteries. These batteries are lightweight and have compact structures. They are ideal for use in new-age slim and flexible gadgets like smartphones and tablets.
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Growing adoption of smart cards, electronic wearables, passive radio frequency identification tags, skin patches, and similar products is estimated to trigger mass commercialization of printed batteries. These batteries consume less energy and are more eco-friendly that their predecessors. Need for integration in electronic devices will also drive the market.
The fabrication of printed batteries requires lots of time. It is prone to defects. Newer application areas are constantly being unraveled, each having different requirements. Therefore, the market lacks standardized solutions. Moreover, research and development of these batteries necessitate huge investments. These factors are expected to majorly impede the printed battery market.
The application segments in the market are medical implants, hearing aids, RFID tags, wireless sensors, and electronic wearables. RFID tags account for a substantial market share. Hearing aids, and medical sensors and implants are set to grab a larger share. Electronic wearables will witness robust growth over the next seven years. This will be brought about by limitations of conventional batteries with regards to flexibility, thinness, and lightness.
End-use verticals in the printed battery market constitute commercial, industrial, and consumer. Commercial includes smart packaging, active smart cards, and electronic and retail shelf labeling. The sub-segments of industrial are energy harvesting, wireless sensors, and semiconductors. Consumer comprises novelty goods and medical.
Many companies involved in manufacturing printed batteries are located in China, South Korea, and the U.S. North America will be the leading region in the forthcoming years. Proliferation of innovative technologies will be its key driver. China is anticipated to grow strongly in the future. Cheap labor and robust demand will lead to large-scale production of printed batteries in the country.
Dominating participants in the printed battery market include Blue Spark Technologies, Apple Inc., Samsung Group, Applied Materials Inc., Enfucell Oy, and Thin Film Electronics.
Information Source: Grand View Research
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