NanoMarkets Report: Thin Batteries to Become $1.1 billion (USD) Market in 2022
Industry: Market Research
Report states that consumer electronics, wearable devices, and the Internet-of-Things (IoT) will create strong demand for thin battery technology in coming decade
Glen Allen, VA (PRUnderground) April 6th, 2015
- Some of the biggest names in consumer electronics sector—Apple, LG, Nokia, etc.—continue to display a growing interest in thin battery technology. Newer patent filings suggest products are at least being considered that could have an affinity for thin batteries. Full integration with other system components also is seeing increased attention.
- Wearable electronic devices offer great promise for thin batteries. Initial designs for smart watches and fitness bands don’t especially seem to need them, but newer wearable electronics that seek to innovate and differentiate will, we anticipate, open up more opportunities.
- With the arrival of the IoT where sensor functionality powered by traditional batteries isn’t feasible in terms of form, functionality, or cost, expectations for volumes of thin batteries in this sector have increased. IoT success stories still aren’t widespread, but we expect momentum to take shape in the next few years.
- We have some cautious optimism for powered smart cards, anticipating that OTP financial transactions currently playing out in Europe will extend into larger markets in the U.S. and China. Still, other potential applications—secure identification (including biometrics), customer loyalty/gift/rewards cards, transportation/ticketing, even healthcare records—remain slow to emerge, and will greatly depend on whatever scale is built out to support OTP cards.
- Some compelling cases can be made for specific areas of “smart” labels and packaging, such as monitoring temperature-sensitive biopharmaceuticals or perishable goods through supply chain, and even medical devices. However, we note that similar applications were being talked about years ago and they have become commercialized only slowly.
- We increasingly sense a tone of frustration and urgency that an adequate supply-chain remains absent in many cases, eroding confidence that the sector can serve high-volume markets. Some firms have aligned strategically with larger entities as a means to help scale up, while other suppliers have strategic backing that might be tapped. Importantly, those aforementioned consumer electronics firms have massive amounts of money, and supply chains, at their fingertips—thin battery suppliers need both urgently.
NanoMarkets tracks and analyzes emerging markets in energy, electronics and other area created by developments in advanced materials. Visit www.nanomarkets.net for a full listing of NanoMarkets’ reports and other services.