Thin Film Battery Market Size, Trends, Share, Growth | Report 2022-2030
The global thin film battery market was valued at USD 527.03 million in 2021 and it is predicted to surpass around USD 6.4 billion by 2030 with a CAGR of 31.97% from 2022 to 2030
Report Highlights
Growing demand from applications, such as medical tracking and smartwatches, is likely to boost the market growth. Thin-film battery has high demand owing to its small size and low weight. Moreover, it does not contain harmful chemicals and is resistant to explosion and fire. Furthermore, growing product demand to provide power for small form-factor devices is a major driving factor for the market growth in the medical and wearables applications.
Therefore, key players in the market are focusing on technological advancements and to increase service quality and efficiency. With customers being more tech-savvy, the demand for such electronic devices is expected to increase over the forecast years. Increasing usage of devices, such as fitness bands and smartwatches, is making the demand and supply for thin-film batteries even more proper. These factors are expected to boost the growth of the market in the forecast period.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 527.03 million |
| Revenue Forecast by 2030 | USD 5.94 billion |
| Growth rate from 2022 to 2030 | CAGR of 35.72% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Battery type, application, voltage, region |
| Companies Covered | Blue Spark Technologies; BrightVolt.; Enfucell; STMicroelectronics; Cymbet; IMPRINT ENERGY; Ilika; LG Chem; Jenax Inc.; Excellatron; Molex; SAMSUNG SDI Co. Ltd.; Angstrom Engineering Inc.; Front Edge Technology, Inc.; NEC Corp. |
Battery Type Insights
The rechargeable type segment accounted for the dominant market share of over 57.8% in 2021. It is projected to expand further at the fastest CAGR from 2022 to 2030. Rechargeable batteries are suitable for use in consumer electronics devices. They are also used in medical devices, wireless sensors, wearable electronics, and Internet of Things devices. Ongoing R&D activities by various research institutions and companies with a focus on cutting the overall costs of these batteries is projected to boost the segment growth over the upcoming years.
Disposable batteries are designed for single-use majorly for low-power applications. Disposable thin-film batteries are used to power various products, such as One-Time Password (OTP)-based smart cards, toys, greeting cards, medical biosensors, and radio-frequency identification tags. This segment is expected to register significant growth in the forecast period owing to a rise in demand for these products in several application areas, such as consumer electronics, smart cards, medical sensors and devices, sports monitoring devices, and biometric monitoring devices.
Application Insights
The wearable devices emerged as the leading application segment accounting for a share of over 34.5% in 2021. Wearable devices, such as fitness bands and smartwatches, are integrating thin-film batteries due to their enhanced recharging rate and compact design. Smart card application segment is likely to witness significant growth owing to extensive product demand in banking cards and identification cards.
The rise in demand for smart cards for authentication purposes from various sectors is also expected to boost the segment growth in the forecast period. The medical segment is expected to witness considerable growth during the forecast period owing to extensive product usage in medical applications, such as drug patches, Transcutaneous Electrical Nerve Stimulation (TENS) devices, biosensors, diagnostic devices, and patient monitoring devices. Other product applications include Radio Frequency Identification (RFID) and portable devices.
Voltage Insights
Below 1.5 V type emerged as the leading segment in 2021 and accounted for over 45.6% of the global share. The segment will expand further at a steady CAGR from 2022 to 2030 due to high demand for below 1.5 V thin-film batteries from numerous applications, particularly from lower-power applications, such as wireless micro-sensors, smart cards, toys, medical patches, and RFID tags.
The above 3 V segment is likely to witness the fastest CAGR over the forecast period. Various applications where above 3 V batteries can be used are smartwatches and consumer electronics devices. The 1.5 to 3 V segment had a significant market share in 2019 and will witness steady growth in the future owing to the use of these batteries in consumer electronics and medical devices, sensors, and smart labels and tags.
Regional Insights
North America dominated the global market in 2021 accounting for a share of over 40.27% and is expected to retain the leading position throughout the forecast years. Led by the U.S., growing R&D activities and technological innovations are projected to be the key driving factor for the regional market.
Europe accounted for a significant share in the global market in 2021. Growth in the region is a result of ongoing technological developments as well as stringent government safety regulations for battery applications. Germany accounted for a dominant share in the region in 2021 owing to the high demand for wearable and medical devices in the country.
APAC is projected to register the fastest CAGR from 2022 to 2030. This growth is credited to rising product demand, increased adoption of IoT devices, and rapidly expanding electronics device manufacturing industry in the region. Emerging countries, such as China, South Korea, Japan, and India, lead the regional market. The rise in the number of production facilities in these countries and growing application scope are further expected to fuel the market growth over the forecast period.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Thin Film Battery Market
5.1. COVID-19 Landscape: Thin Film Battery Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Thin Film Battery Market, By Battery type
8.1. Thin Film Battery Market, by Battery type, 2022-2030
8.1.1 Disposable
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Rechargeable
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Thin Film Battery Market, By Voltage
9.1. Thin Film Battery Market, by Voltage, 2022-2030
9.1.1. Below 1.5V
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. 1.5V to 3V
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Above 3V
9.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Thin Film Battery Market, By Application
10.1. Thin Film Battery Market, by Application, 2022-2030
10.1.1. Wearable Devices
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Medical
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Consumer Electronics
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Smart Cards
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Others
10.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Thin Film Battery Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.1.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.1.3. Market Revenue and Forecast, by Application (2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.1.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.2.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.2.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.2.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.3.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.3.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.3.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.4.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.4.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.5.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.5.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Battery type (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Voltage (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Application (2017-2030)
Chapter 12. Company Profiles
12.1. Blue Spark Technologies
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. BrightVolt.
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Enfucell
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. STMicroelectronics
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. LG Chem
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. SAMSUNG SDI Co. Ltd.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers