Latest industry research report on Thin film battery market driving forces include creating business inflection by delivering technology that supports entirely new capabilities. Sensor networks are creating demand for thin film solid state devices. Vendors doubled revenue and almost tripled production volume from first quarter. Multiple customers are moving into production with innovative products after successful trials.
Thin film battery markets at $35 million in 2014 are forecast to reach $3.4 billion by 2021. Rapid growth toward the end of the forecast period is anticipated as technology improves the cost structure of the manufacturing.
The quality of energy storage is better with thin film batteries. Thin Film Batteries A comparison of battery performance for various rechargeable batteries is a compelling illustration of the value of thin film batteries.
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Data for thin film batteries using very thin substrates illustrate the longer cycle life that can be achieved. Applications include power bridging, permanent power, and wireless sensor networks..
According to Susan Eustis, the lead author of the team that created the study, “Thin film batteries for electronics brings advantages to batteries of less weight, lower cost potentially, higher energy density eventually, and a smaller footprint. Substantially increasing the energy density while lowering costs is the aim of this industry segment. While this has not yet been achieved, it will be done and those who achieve the breakthrough stand to benefit substantially.
A strong business pipeline has emerged with customer activity in all target markets. The market focus is shifting from ramping capacity to driving manufacturing efficiencies and achieving margin improvement, indicating increasing market maturity.
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Key application areas for thin film batteries are:
- Medical implants
- Hearing aids
- RFID tags
- Electronic wearable devices
- Smart cards
Key application areas for solid stare batteries are:
- Power bridging
- Permanent power
- Wireless sensors
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