The solid state battery market is estimated to grow at a CAGR of 72.33% during the forecast. Battery technology has advanced over the past few years, and the solid state battery is a part of it. The solid state battery technology is primarily built around the concept of using solid materials for all the components in a battery; a solid state battery has solid electrodes and solid electrolytes. The use of a solid electrolyte in lieu of the conventional liquid- or gel-based electrolyte overcomes most of the disadvantages of a conventional battery. Complete report on solid state battery market spread across 174 pages, profiling 10 companies and supported with 68 tables and 81 figures is now available at http://www.rnrmarketresearch.com/solid-state-battery-market-by-type-thin-film-portable-battery-capacity-application-consumer-electronics-electric-vehicles-medical-devices-packaging-rfid-smart-card-wearable-devices-wireless-devices-and-region-global-forecast--market-report.html .
Europe expected to be the fastest-growing solid state battery market during the forecast period. The European region has potential growth opportunities for solid state batteries, owing to the increasing adoption in applications such as consumer electronics, medical devices, and packaging.
Packaging and smartcards are two emerging application areas of the solid state battery market. Integrating the solid state battery in place of conventional battery could make the product lighter, and increase its efficiency. Electric vehicles are anticipated to be one of the major segments for solid state batteries in the future, as the need for advanced and long lasting batteries in in this segment is increasing. The solid electrolytes used in a solid state battery eliminate the cause of explosion, as well as they increase the power density and make the battery compact, lightweight, and cost-effective. Therefore, it is anticipated to gain immense popularity over the years.
The solid state battery market is segmented on the basis of type, capacity, application, and geography. Thin-film solid state batteries are being widely accepted in applications such as RFID tags and labels, smart cards, wearable devices, and medical devices among others. On the other hand, portable batteries are not yet commercialized; however, many key players in the industry are investing majorly in R&D to develop and test the potential of portable solid state batteries for electric vehicles. One such prominent company involved in the development of solid state battery is Sakti3 Inc. (U.S); it was recently being acquired by Dyson Inc. (U.K.).
The need for advanced batteries in next-generation electrical devices would drive the sold state battery market. In a solid state battery, the use of volatile and flammable liquid electrolytes is avoided because they may produce sparks, causing battery explosion. These batteries have a high energy density and a long shelf life; also, it eliminates the need for multi-layers of packaging, making the battery compact. Solid state batteries are made of non-flammable solid electrolytes, which improve the safety and reliability of the battery. Solid state batteries have found applications in many areas from packaging to consumer electronics to electric vehicles and many more.
Further, the companies in solid state battery market adopt various strategies such as new product developments collaborations, acquisitions, and contracts to develop the next generation solid state batteries and strengthen their position in the market.
Major players in the solid state battery market include Cymbet Corporation (U.S.), Infinite Power Solutions, Inc. (U.S.), Robert Bosch GmbH (Germany), Toyota Motor Corporation (Japan), Planar Energy Devices, Inc. (U.S.), Sakti3 Inc. (U.S.), Excellatron Solid State, LLC (U.S.), Solid Power, Inc. (U.S.), BrightVolt, Inc. (U.S.), and STMicroelectronics N.V. (Switzerland) among others. Make an Inquiry on “Solid State Battery Market by Type (Thin-Film, Portable Battery), Capacity, Application (Consumer Electronics, Electric Vehicles, Medical Devices, Packaging, RFID, Smart Card, Wearable Devices, Wireless Devices), and Region - Global Forecast to 2020” research report at http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=444450 .
On a related note, another research titled Battery Market Global Trends & Forecast to 2021 says, the battery market is estimated to grow with CAGR of 4.15% from 2016 to 2021 to reach a market size of USD 17.26 billion by 2021. The Asia-Oceania region is estimated to dominate the battery market, in terms of volume, and is projected to grow at the highest CAGR during the forecast period. Companies like Johnson Controls Inc. (U.S.), Exide Technologies (U.S.), GS Yuasa (Japan), Panasonic Corporation (Japan) and Robert Bosch GmbH (Germany) have been profiled in this 177 pages research report available at http://www.rnrmarketresearch.com/automotive-battery-market-by-transport-mode-automotive-marine-aerospace-application-two-wheelers-passenger-vehicles-lcv-hcv-passenger-ships-tankers-cargo-ships-commercial-and-general-avi-market-report.html .
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