Flexible Battery Market Size to grow by USD 434.3 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Flexible Battery Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: The flexible battery market is a segment of the larger, global renewable electricity market, encompassing businesses involved in the production and distribution of electricity derived from renewable sources. This market's scope extends to independent power producers, gas and power marketing and trading specialists, integrated energy merchants, and manufacturers of raw materials and equipment, particularly in the solar power sector. Factors fueling the expansion of the global renewable electricity market include supportive policies and ambitious targets for the deployment of renewable power. Over the past decade, the adoption of renewables has witnessed substantial growth due to these initiatives. - The Flexible Battery Market is experiencing significant growth, fueled by the Growing demand for wearables. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Growing demand for wearables
  • Increase in number of application segments
  • Issues related to battery life
  • Corrosion issues with flexible or printed batteries
• Growth Projections

The market size is estimated to grow by USD 434.3 million, at a CAGR of 29.52% during the forecast period. In the realm of flexible batteries, durability and recharging have long posed significant challenges. Imprint Energy, a pioneering manufacturer of printed batteries, has addressed these issues by producing printable, flexible, and non-toxic zinc batteries. The company's mission is to revolutionize portable power through the delivery of superior performance at substantially reduced costs, while eliminating form factor constraints and safety concerns. Imprint Energy's innovative batteries are fabricated using a proprietary polymer electrolyte for rechargeable printing batteries, with the printing process identical to that of screen printing. These rechargeable printed batteries are currently being utilized in sensors and toys, but their applications are expanding to include medical devices such as artificial pacemakers, smartphones, and other electronic gadgets that rely on batteries for operation.

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• Regional Insights

The flexible battery market is experiencing significant growth due to the increasing demand for lightweight, portable, and flexible electronic devices. These batteries offer advantages such as improved durability, flexibility, and safety compared to traditional batteries. Key players in this market include LG Chem, Samsung SDI, and Panasonic, who are investing heavily in research and development to meet the evolving needs of consumers and industries. The market is expected to reach new heights, driven by advancements in technology and the expanding applications in wearable devices, electric vehicles, and renewable energy storage systems.

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