Global Flexible Battery Market growing at a CAGR of 40.5% during 2020-2026

The growing technological advancements in IoT-based devices and the growing miniaturization of electronic devices are expected to drive the growth of the global flexible Battery market. The global flexible battery market was valued at USD XX Mn in 2018 and is expected to reach USD XX Mn by 2026, growing at a CAGR of 40.5% during the forecast period.

Flexible Battery is both primary and secondary batteries that are designed to be flexible and conformal, unlike traditional rigid ones. The main characteristic of a flexible battery is that it can maintain its shape even against continual twisting or bending. The demand for the flexible battery is increasing owing to the rising demand for portable and flexible electronics and increasing deployment in products such as wearable electronics, flexible displays, transdermal drug delivery patches, smart cards, and novelty packaging, others. The increasing replacement of conventional batteries with flexible batteries in the production of advanced technology products is also one of the major factors to drive the growth of the global flexible battery market.

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Apart from these, the benefits offered by flexible battery such as improved power efficiency, elongated battery life, eco-friendly nature and ease of applications are major driving factors for the market. Further, the surge in the rate of adoption of IoT-enabled wearable electronic devices for diagnosing, tracking applications, monitoring, gauging and navigating is going to drive the demand for flexible battery during the forecast period.

Additionally, companies are investing a big amount on research and development of flexible electronic products and thereby the development of flexible batteries to power those devices. For instance, in May 2019, Jenax has created a flexible, fast charging, rechargeable lithium-ion polymer battery “J.Flex” to meet the demand for next-generation devices such as wearable and IoT devices.

However, high-cost associated with these batteries and the availability of low-cost options are expected to impede the growth of the global flexible Battery market.

Key Findings:

• Based on Product Type, the thin-film battery segment is expected to have the highest market share during the forecast period.
• Based on Chargeability, the rechargeable battery segment is expected to have the highest market share during the forecast period.
• Based on Capacity, the capacity between 10 mAh to 100 mAh is expected to have the highest market share during the forecast period.
• Based on the Application, the wearable devices segment is expected to hold the largest share in the market during the forecast period.
• Based on regions, the Asia Pacific region is anticipated to capture a significant portion of the global flexible battery market during the forecast period.

Recent News:

• In May 2017, Enfucell Oy Ltd. has signed a license agreement with Central Midori (Int’l) Pte Ltd for printing Enfucell SoftBattery power sources. Enfucell is expanding the geographical exposure of its partner network to be able to provide the fast-growing markets for IoT and wearable devices that are powered by printable batteries.