Portland, OR, July 03, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, ”Thin Film Battery Market by Chargeability (Rechargeable, Disposable), by Voltage Range (Below 1.5V, 1.5V to 3V, Above 3V), by Application (Wearable Devices, Medical Devices, Consumer Electronics, Smart Cards, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global thin film battery market was valued at $0.4 billion in 2022, and is projected to reach $2.5 billion by 2032, growing at a CAGR of 19.8% from 2023 to 2032.
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Prime determinants of growth
The global thin film battery market is experiencing growth due to several factors such as an increase in demand for thin film batteries in wearable devices and rise in the use of thin film batteries in energy harvesting. However, the limited energy density of thin film battery hinders the market growth to some extent. Moreover, the surge in demand for medical implants offers remunerative opportunities for the expansion of the thin film battery market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $0.4 billion |
| Market Size in 2032 | $2.5 billion |
| CAGR | 19.8% |
| No. of Pages in Report | 300 |
| Segments covered | Chargeability, Voltage, Application, and Region |
| Drivers | Increase in demand for thin film batteries in wearable devices Rise in the use of thin film batteries in energy harvesting |
| Opportunities | The surge in demand for medical implants |
| Restraints | The limited energy density of thin film battery |
| Challenge | Environmental concerns with respect to thin film battery |
The disposable segment is expected to grow faster throughout the forecast period.
Based on chargeability, the rechargeable segment held the highest market share in 2022, accounting for more than three-fifths of the…
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