Global Flat Lithium-ion (Li-ion) Battery Market: About this market
The flat lithium-ion battery is flat in shape and has high energy density. Technavio’s flat lithium-ion battery market considers the application of flat lithium-ion battery in consumer electronics and automobiles. Our analysis also considers the use of flat lithium-ion batteries in APAC, Europe, MEA, North America, and South America. In 2018, the consumer electronics segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising internet penetration will play a significant role in the consumer electronics segment to maintain its market position. Also, our global flat lithium-ion battery market looks at factors such as an increase in demand for smartphones, growth in demand for EVs, and a rise in the adoption of wearable technologies. However, the availability of substitute products, safety hazards associated with Li-ion batteries, and transport restrictions on Li-ion batteries may hamper the growth of the flat lithium-ion battery industry over the forecast period.
Global Flat Lithium-ion (Li-ion) Battery Market
Increase in the demand for smartphones
Factors such as the growth of the global economy, increasing internet penetration, and rising purchasing power has increased the demand for smartphones. The number of smartphone users in India is expected to double over the forecast period. The demand for smartphones is also increasing in other developing countries such as South Africa, Brazil, the Philippines, Mexico, and Indonesia. Consumers have increased their dependency over smartphones for paying bills, shopping, and also to remotely control their vehicles. Thus, with the growth of the smartphone market, there will be a simultaneous rise in need for flat Li-ion batteries that are widely used in smartphones. The increasing demand for smartphones is one of the key factors accelerating the growth of the global flat lithium-ion battery market at a CAGR of almost 11% during the forecast period.
Growing demand for action cameras
The increasing popularity of adventure activities such as skydiving, surfing, mountain climbing, scuba diving, surfing, and others have increased the demand for action cameras among adventure sports enthusiasts. These cameras are convenient to use due to their compact size and handsfree operation. Action cameras generally come equipped with flat lithium-ion batteries. The growing popularity of action cameras is attracting investments in the action camera market. These developments in the action camera industry is expected to fuel the growth of the global flat lithium-ion battery market size.
For the detailed list of factors that will drive the global flat lithium-ion battery market size during the forecast period 2019-2023, click here.
With the presence of several players, the global flat lithium-ion battery market is fairly fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several flat lithium-ion battery manufacturers, that include A123 Systems LLC, GS Yuasa International Ltd., Panasonic Corp., Samsung Electronics Co. Ltd.., and Toshiba Corp.
Also, the flat lithium-ion battery market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities. "
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