Innovation and technical advancement in form factor of batteries is driving the power storage industry globally. The flexible batteries are the primary and secondary batteries which are technologically developed to be flexible and conformal as compared to traditional batteries that are heavy, rigid and generally have fixed form factors. As the form factor of devices like smartphones, tablets and wearable devices is made lighter, thinner and flexible, there is need of flexible and thin battery which can satisfy ever increasing demand for electric power needed to power these device for long period of time. The flexible batteries market is fuelled by demand for flexible batteries for devices like wearable electronics devices, smart cards, transdermal drug delivery patches and flexible displays. Internet of everything is also a factor responsible for driving need for flexible batteries to power portable and handheld consumer devices.
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Besides having thin and flexible form factor, flexible batteries offers numerous other benefits. The flexible batteries are long lasting, powerful, and free from safety concerns and made up of inherently safe material to adapt to emerging technologies in flexible electronics. The flexible batteries are made up of polymer with improve conductive property and can be stretched and rolled as per need of the device where it is used. On other hand, there is a need to address some technological issues related to short circuit during flexing.
On the basis of Technology, global flexible battery market can be segmented into – Flexible zinc carbon batteries, flexible lithium ion batteries, flexible lithium polymer batteries, thin flexible supercapacitors, flexible solar batteries and others.
On the basis of Application, global flexible battery market is segmented into – Wearable electronics, consumer electronics, Packaging and transportation, medical, healthcare & cosmetics, & networks and others. Share of wearable device application is expected to dominate the market and Medical, health & cosmetic application is expected to exhibit highest CAGR for the forecast period.
The global flexible battery market is expected to report double digit growth rate within forecasted period. The manufacturers globally are focussing on new product development and technological advancement to ensure reliable and low cost production of flexible batteries .The North America has the highest share contribution in global flexible battery market followed by japan and Asia pacific and continue to dominate the market within forecasted period.
The increasing use of flexible primary and secondary batteries in wearable devices, smartphones, medical skin patches, smart cards and consumer electronics devices and internet of everything is driving the growth of flexible batteries market. Major companies in semiconductor industries are investing a big amount on research and development of flexible electronic products and thereby development of flexible batteries to power those devices. Commercialization of the production of flexible batteries are in process from last ten years. High prices of the flexible battery is a factor that hinders the growth of global flexible battery market. A Large scale mass production of flexible batteries will help to low down the prices of flexible batteries to affordable limits.
Apple Inc., Nokia Technologies, Samsung sdi Co., Ltd, Front Edge Technology, Inc, LG Chem Ltd., STMicroelectronics, Blue Spark Technologies, Inc., Solicore Inc., Cymbet Corporation, Fullriver Battery New Technology Co Ltd, and others are among some of the prominent players of global flexible battery market. The flexible battery market is in its nascent stage and mainly driven by research and development from big brands. These companies follow the strategy of new product development and focus on economy of scale to survive and sustain in the global flexible battery market.