Smart solid state batteries are smart batteries made of solid electrolyte and solid electrodes.
- Smart solid state batteries are segmented based on type (single-cell battery and multi-cell battery), capacity (below 20 mAh, between 20 mAh and 500 mAh, and above 500 mAh), application (medical devices, industrial, consumer electronics, automotive, military and defence, and others), and region.
- Increasing need for solid state batteries in electric vehicles, in consumer electronics, and growing R&D activities by major companies is driving the growth of the smart solid state batteries market.
Rise in Demand for Below 20 mAh Capacity Smart Solid State Batteries
- According to capacity, the below 20 mAh segment is expected to be the fastest growing segment of the global smart solid state batteries market during the forecast period.
- Batteries below 20 mAh are mostly thin-film batteries and have extensive applications in packaging, wireless sensors, medical patches, and other low-drain devices
- Moreover, the rising uses of below 20 mAh batteries in cosmetic patches and cosmetic electric devices boosts the growth of the global smart solid state batteries market.
- The medical devices segment is expected to expand at a substantial rate during the forecast period due to technological advancements and penetration of IoT in the medical field.
- However, the high cost of smart solid state batteries compared to conventional batteries hinders the growth of the global smart solid state batteries market.
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Asia Pacific to Lead the Smart Solid State Batteries Market
- In terms of region, the global smart solid state batteries market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific is anticipated to dominate the smart solid state batteries market throughout the forecast period due to technological advancements in wearable devices and consumer electronics in the region, especially in China, South Korea, and Japan.
- Moreover, various manufactures in China, South Korea, Japan, Taiwan, and other countries of Asia Pacific are exporting next-generation flexible devices to different countries worldwide.
- The market in North America is expected to expand at a substantial rate during the forecast period owing to the trend of using electric vehicles in countries such as the US and Canada.
- On the other hand, the markets in Europe, Middle East & Africa, and South America is estimated to witness a slow growth rate during the forecast period.
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The global smart solid state batteries market was highly fragmented in 2019. Major players operating in the global market are focusing on technological advancements and expansion to meet the rising demand for smart solid state batteries. Moreover, manufacturers are undertaking mergers and acquisitions for the development of innovative products.
Key players operating in the global smart solid state batteries market are listed below:
- Sealed Energy Systems
- Accutronics Ltd.
- Rose Electronics Distributing Company, Inc.
- ICCNexergy
- Trojan Battery Company
- Epec, LLC
- Cell-Con, Inc.
- Cadex Electronics, Inc.
- Inspired Energy, Inc.
- Cymbet
- Robert Bosch
- Toyota Motor
- Solid Power
- Excellatron Solid State
- BrightVolt
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