Flexible Thin Film and Printed Battery Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $1.9 billion by 2022, registering a CAGR of 51.4% during the period 2016-2022. Non-rechargeable batteries dominate the market for flexible batteries in 2015. Asia-Pacific led the global market, accounting for a market share of over 43% in 2015.
The rise in trend of wearable devices and Internet of Things (IoT) enables the market growth for flexible batteries. The market is expected to witness vast growth during the forecast period owing to the rise in demand for flexible batteries in portable devices and smart electronics. However, low energy density of ultra-thin flexible batteries proves to be a limitation against the proliferated use of such batteries across high energy-intensive applications.
Key Findings of Flexible Thin Film and Printed Battery Market Study:
•In the year 2015, non-rechargeable segment held the major share in revenue generation but the rechargeable flexible batteries are anticipated to witness faster growth ahead.
•Consumer electronics is expected to grow with the CAGR of 56.4% owing to the use of portable electronics and devices.
•China is the major shareholder, accounting for about 32% of the Asia-Pacific market in 2015.
•India is expected to witness rapid growth, in terms of CAGR, from 2016 to 2022.
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Allied Markets Research