A comprehensive industry overview and market perspective are included in the latest study from MarkNtel Advisors titled Global Solid-state Battery Market. The research provides a detailed overview of the current market state, including market trends and the most recent advancements made globally. In-depth analysis of market size, share, industry trends, forecast, and competitive environment is covered in the report that presents clear picture of the market with relevant statistical data.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Global Solid-state Battery Market Definition:
Solid-state batteries operate the same way as any other battery. They take energy in, store it, and release the power to devices. It is composed of a cathode, anode, and solid electrolyte. These batteries are considered to be safer & more stable than traditional batteries as they are less likely to leak or swell. They also have a higher energy density, which means they can store more energy in the same amount of space.
They have a wide range of potential applications, including consumer electronics, electronic vehicles, medicine, and several more. It is an alternative option for Li-ion batteries, which are composed of a cathode, anode, and liquid electrolyte & are widely used in electronic vehicles, consumer electronics, power tools, etc.
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Global Solid-state Battery Market Insights:
The Global Solid-state Battery market is anticipated to grow at a CAGR of around 37.10% during the forecast period 2023-28.
Global Solid-state Battery Market Driver:
Increasing Miniaturization of Implantable Medical Devices – The implantable medical device industry has a growing need for miniaturized, long-life power sources to enable wireless data transfer from increasingly sophisticated devices that improves patients’ lives. Due to this, the medical device industry is actively adopting these batteries to supply a self-sustaining power source that does not need to be changed regularly or use inconvenient cabling. Solid-state batteries also offer longer life spans of up to 10 years (up to 5x longer) & lower leakage currents (10x smaller), making them suitable for low-power wireless charging.
In addition, they can be seamlessly integrated with other electronic components, enabling the final medical device to maintain a compact form. However, the Implantable Medical Device industry is witnessing a rising demand for these batteries to provide miniature, long-lasting power sources, facilitating wireless data transfer from advanced devices. Therefore, due to the rising demand in medical devices, battery manufacturers are focused on producing these batteries for medical devices. For instance, in 2019, the battery maker Ilika introduced mm-scale solid-state batteries designed for use in medical devices. Hence, the growing need for miniaturized, long-life power sources in the implantable medical devices industry would escalate the demand for these batteries in the upcoming years.
Global Solid-state Battery Market Leading Key Players:
Cymbet Corporation, Samsung SDI, Hitachi Zosen Corporation, Ionic Material, QuantumScape, Ilika Plc., Blue Solutions, Brightvolt, Prieto Battery, Ganfeng Lithium Group Co., Ltd., Storedot, Solid Power, ProLogium Technology, Natrion, Sakuu, Others
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Global Solid-state Battery Market Segmentation:
Based on Type
– Thin-Film Solid State Battery
– Portable Solid State Battery
Based on Application
– Consumer Electronics
– Electronic Vehicles
– Medical Devices
– Energy Harvest
– Others (Aerospace, RFIDs, etc.)
Based on Storage Capacity
– Up to 20mAh
– Above 500mAh
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Global Solid-state Battery Market Geographical Analysis
– North America
– South America
– Europe Middle East and Africa
Recent Development of Global Solid-state Battery Market:
2022: QuantumScape, one of the leading solid state battery manufacturer, shipped its first batch of 24-layer lithium-ion cells to multiple electric vehicle manufacturer for in-house testing. This is part of company’s key goal & an important step to commercializing their technology.
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