Flexible batteries are made to be thin, light, and flexible so that they can fit within small gadgets. Without losing any efficiency, these batteries may be sliced, rolled, and modified into a variety of sizes and shapes to be used in goods of any shape. Due to their flexibility, compactness, thinness, and light weight as well as a special manufacturing process, thin-film batteries and printed batteries fall within the category of flexible batteries. By 2025, the Flexible Battery Market is anticipated to rise from USD 98 million in 2020 to USD 296 million, expanding at a CAGR of 24.7%. The market for flexible batteries is expanding as a result of factors like the rising demand for flexible batteries for wearable electronics, the expanding use of thin and flexible batteries in flexible electronics devices, the ongoing miniaturisation of electronic devices, the soaring demand for flexible batteries in IoT applications, and the expanding use of flexible batteries in medical devices to treat COVID-19 patients.
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Consumer electronics' flexible battery market is anticipated to expand significantly over the next several years. Flexible batteries and curved thin-film batteries have been created as a result of advances in consumer electronics technology and growing consumer demand for flexible and miniature electronic items. Numerous consumer electronics devices, including smartphones, mobile phones, tablets, phablets, and disposable cosmetics products, can be powered by flexible batteries. Because numerous firms are investigating and creating flexible batteries to power their smartphones and wearable devices, it is anticipated that these batteries for consumer electronics will be marketed by 2022.
The Flexible Battery Market in 2019 was dominated by the sub 10 mAh category. Medical implants, cosmetic patches, Internet of Things (IoT) gadgets, MEMS, CMOS memory, and other low-drain devices frequently employ batteries with capacities less than 10 mAh. Due to their diminutive size, these devices have a small interior. They can also be powered by low-capacity batteries. The sub 10 mAh market segment is anticipated to grow at a faster rate than the overall market during the projected period due to rising demand for flexible batteries for use in various applications.
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During the projected period, the Flexible Battery Market in APAC is anticipated to develop at the highest CAGR. The leading consumer electronics producers in this region are constantly reinventing their products, which call for thin power sources to work with their products' flexible designs. As a result, several regional device manufacturers have begun funding flexible battery research and development projects. Companies in the region are introducing their batteries for use in wearables, including Jenax (South Korea), LG Chem (South Korea), and Samsung DI (South Korea). However, the COVID-19 outbreak has affected and shut down production facilities worldwide, affecting all industry verticals. A few industries have started operating in China, which has started the production of some requirements. This should result in a major increase in demand for flexible batteries throughout APAC.
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