Wearable tech and IoT to drive $300 million market.
The energy storage industry is being driven by the emergence of new market categories such as wearable electronic devices and the Internet of Things (IoT), which demand thinness and flexibility. These needs add a new force to current market drivers such as cost reduction and power and energy density increases.
IDTechEx forecasts that thin and flexible energy storage devices will create a market in excess of $300 million, at the device level, in 2024. It also found that the market will be in a state of rapid flux, and in 2024 the composition of the market will look drastically different from its current condition. Major new markets will rise to the top in the next decade, opening the door to new technologies.
Thin and flexible energy storage devices can refer to technologies including thin lithium batteries; thin film lithium polymer batteries; curved lithium ion batteries; thin, flexible supercapacitors; and zinc-based batteries. Each technology has a different set of attributes useful for different markets.
The new IDTechEX report, “Flexible, Printed and Thin Film Batteries 2015-2025,” provides detailed technology assessments and benchmarking, 10-year market forecasts segmented by application and technology type, and detailed, interview-based business intelligence and profiles on key players and large end-users from a variety of sectors.
Visit the IDTechEx website for more information.