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Flexible Battery Market to Reach $1.54 billion, Globally, by 2032 at 24.88% CAGR: Allied Market ResearchThe flexible battery market is driven by factors such as rise in demand for wearable technologies, advancements in materials & manufacturing technologies, and the expanding Internet of Things (IoT). Wilmington, Del., Feb. 29, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Flexible Battery Market by Type (Thin-Film Batteries and Printed Batteries), Voltage (Below 5V, 5V To 20V, and Above 20V), Rechargeability (Primary Batteries and Secondary Batteries), and Application (Consumer Electronics, Smart Packaging, Smart Cards, Medical Devices, Wireless Sensors, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032. According to the report, the global Flexible battery market was valued at $ 0.17 billion in 2022 and is estimated to reach $ 1.54 billion by 2032, exhibiting a CAGR of 24.88% from 2023 to 2032.
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Prime determinants of growth The flexible battery market is expected to witness notable growth owing to rising demand in wearable electronics and the proliferation of IoT devices and the need for compact, flexible power sources. Moreover, an increase in adoption of wearable medical devices is expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, high manufacturing cost limits the growth of the flexible battery market. Report coverage & details:
On the basis of type, the thin-film batteries segment held the highest market share in 2022, accounting for more than three-fifths of the global flexible battery market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to its lightweight design, flexibility, and efficiency. These batteries cater to the rising demand in wearable tech and IoT applications, sustaining leadership in the forecast period. However, the printed batteries segment is projected to manifest the highest CAGR of 21.85% from 2023 to 2032. The below 5V segment to maintain its leadership status throughout the forecast period. On the basis of voltage, the below 5V segment held the highest market share in 2022, accounting for nearly three-fifths of the global Flexible battery market revenue and is estimated to maintain its leadership status throughout the forecast period. Moreover, the below 5V segment is projected to manifest the highest CAGR of 25.50% from 2023 to 2032, owing to increasing demand for low-voltage applications in portable and wearable electronics. The Primary Batteries segment is expected to maintain its leadership status throughout the forecast period. On the basis of rechargeability, the primary batteries segment held the highest market share in 2022, accounting for more than two-thirds of the global Flexible battery market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the secondary batteries segment is projected to manifest the highest CAGR of 25.67% from 2023 to 2032, owing to the surge in demand for rechargeable energy storage solutions in applications such as consumer electronics and electric vehicles. The Consumer Electronics segment is projected to maintain its leadership status throughout the forecast period. On the basis of application, the consumer electronics segment held the highest market share in 2022, accounting for more than two-fifths of the global flexible battery market revenue and is estimated to maintain its leadership status throughout the forecast period. Moreover, the consumer electronics segment is projected to manifest the highest CAGR of 26.32% from 2023 to 2032, owing to surging demand for portable and flexible power sources in smartphones, wearables, and other gadgets. Inquiry before Buying: North America to maintain its dominance by 2032. On the basis of region, North America held the highest market share in terms of revenue in 2022, accounting for more one-third of the global flexible battery market revenue owing to the technological advancements, which have fueled the growth of the market in this region. In addition, Asia-Pacific is projected to manifest the highest CAGR of 26.17% from 2023 to 2032. Key Industry Development – In March 2023, STMicroelectronics, a semiconductor company, made lithium batteries that performed well and lasted longer with a high-accuracy BMS (Battery Management System) controller. STMicroelectronics' L9961 BMS device delivered accuracy and flexibility to improve the performance, lifetime, and safety of Li-ion as well as Li-polymer batteries. Leading Market Players: -
The report provides a detailed analysis of these key players in the global flexible battery market. These players have adopted different strategies such as product launch, product development, partnership, investment, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. Key Benefits for Stakeholders
Flexible Battery Market Key Segments: By Type:
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Trending Reports in Semiconductor and Electronics Industry: https://www.alliedmarketresearch.com/flexible-battery-market/checkout Micro Battery Market was valued at $0.5 billion in 2022, and is projected to reach $4 billion by 2032, growing at a CAGR of 21.6% from 2023 to 2032. Flexible Thin Film and Printed Battery Market was valued at $1,217 million in 2019 and is projected to reach $11,033.3 million by 2027, growing at a CAGR of 30.9% from 2020 to 2027. Flexible Electronics Market was valued at $26.2 billion in 2022, and is projected to reach $57.3 billion by 2032, growing at a CAGR of 8.2% from 2023 to 2032. U.S. Flexible Electronics Market Size, Competitive Landscape and Trend Analysis Report: Opportunity Analysis and Industry Forecast, 2022-2032 Germany Flexible Electronics Market Share, Competitive Landscape and Trend Analysis Report: Opportunity Analysis and Industry Forecast, 2022-2032 About Us: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact Us: David Correa Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
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