Solid State Battery Market is growing due to increasing usage of battery in electric vehicles

 Solid State Battery Market

Solid state battery is made by electrodes and electrolytes materials which are light in weight and durable in nature. With high execution productivity, solid state batteries are more secure than fluid state batteries. They are used in pacemakers, radio-frequency identification and wearable devices. Solid state battery finds application in healthcare industry, drones sector and others. They are considered to be safer than the traditional lithium batteries as they do not contain flammable liquid electrolyte solution and also contain more energy units than the traditional battery.

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The main factors boosting the Solid State Battery Market  are:

  • Rising trend of miniaturization of electronic devices: With the rising urbanization and modernization, the demand of the minimized products is getting increased. Due to the rising trends of the minimization of the electronic devices that are easy to handle along with their durability, the market is attaining a significant growth
  • Growing requirement for the sold state battery in electric vehicles: Electrical and Electronics industry is one of the major application areas for solid state battery along with the usage of these compounds in cell phones and advanced sensors. Due to the negative impacts that traditional batteries don’t contain flammable liquid electrolyte, they can be adopted in the solid state batteries.

The market is segmented on the basis of type as thin-film batteries, portable batteries, other batteries; capacity as less than 20 mAh, between 20 mAh -500 mAh, 500 mAh, above; application as consumer electronics, electric vehicle, energy harvesting, entertainment, medical devices, packaging, portable devices, smart cards, wearable devices, wireless communication, others

Some of the Solid State Battery Market developments are as follows:

  • In June 2019, Ilika announced the launch of Stereax M250, a miniature battery having high energy density. The battery is being used in automotive, industrial sensors, smart homes and cities. This battery has an advantage over contact masks that will optimize the amount of battery and minimize the proportion of inactive material such as contact pads thereby provide less volume and more energy in their battery.
  • In May 2019, Innolith AG announced the launch of new inflammable battery which contains high energy density of 1000 watt-hours per kilogram that runs for long period of time and it reduces the cost of using the electric vehicles. It does not contain combustible component reduces the risk of ignition and fire. This product will increase the market share of the company in the following years.

According to Data Bridge Market Research, Global Solid State Battery Market is expected to reach USD 16,783.84 million by 2025, growing at a healthy CAGR of 72.3% during the forecast period of 2018 to 2025

Some of the major players operating in the market are Cymbet, Robert Bosch GmbH, STMicroelectronics V., TOYOTA MOTOR CORPORATION,., BrightVolt.,., Excellatron, ,., Planar Energy Solid Power, . HUBER+SUHNER, , Boingo Wireless, Inc., , Dali Wireless, , Comba Telecom Systems Holdings Ltd., , CommScope,, Whoop Wireless, Bird, , Connectivity Wireless ,  Betacom Inc, , , GALTRONICS, , , AT&T Intellectual Property, , , Advanced RF Technologies, Inc., , and Zinwave., among others.

With the adoption of solid state battery and increasing investment, the market foresees further opportunities for the market players to enhance the appeal of the product. The demand of solid state battery is being met with the further innovations to improve the quality of products which are being offered to their customers.

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