GVR Report cover Thin Film Battery Market Size, Share & Trends Report

Thin Film Battery Market Size, Share & Trends Analysis Report By Voltage (Below 1.5V, Above 3V), By Battery Type (Disposable, Rechargeable), By Application (Medical, Smart Cards, Wearables), And Segment Forecasts, 2020 - 2027

  • Published Date: Aug, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-1-68038-622-6
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 130

Report Overview

The global thin film battery market size was valued at USD 454.1 million in 2019 and is expected to register a compound annual growth rate (CAGR) of 35.5% from 2020 to 2027. Increasing demand for the Internet of Things (IoT) devices, wearable electronics, and medical tracking applications in both developing and developed countries are expected to boost the market growth over the estimated period. Furthermore, ongoing research and development activities in the global battery manufacturing industry on account of varying needs from numerous end-user sectors have driven the development of products, which outpace conventional batteries, in terms of durability and performance. The U.S. accounts for a dominant market share in the global market globally. The availability of R&D funds provided by the U.S. Department of Energy for better technological development has been driving the market in the country. Furthermore, a rise in demand for wearable devices is expected to boost regional growth in the forecast period.

The U.S. thin film battery market size

The technical improvement in thin-film batteries concerning charge density and life span of a battery though making it safe for usage has observed an increase in recent periods. With the growing demand for smartwatches, leading players in the industry are motivated towards dropping the technological blockades hence, letting the batteries be thin and more flexible. Several government standards and regulations limit the usage of conventional batteries as they are made of using harmful chemicals, such as mercury and cadmium. Moreover, rising awareness about the hazards of lithium-ion batteries will boost the demand for thin-film batteries.

However, the raw materials required to manufacture thin-film batteries are much costlier than lithium-ion batteries. Moreover, volatile prices of these materials and their chemical nature lead to high material handling costs that are finally charged on the final product. Therefore, such factors are likely to pose a challenge to market growth.

Battery Type Insights

The rechargeable type segment accounted for the dominant market share of over 57% in 2019. It is projected to expand further at the fastest CAGR from 2020 to 2027. Rechargeable batteries are suitable for use in consumer electronics devices. They are also used in medical devices, wireless sensors, wearable electronics, and Internet of Things devices. Ongoing R&D activities by various research institutions and companies with a focus on cutting the overall costs of these batteries is projected to boost the segment growth over the upcoming years.

Disposable batteries are designed for single-use majorly for low-power applications. Disposable thin-film batteries are used to power various products, such as One-Time Password (OTP)-based smart cards, toys, greeting cards, medical biosensors, and radio-frequency identification tags. This segment is expected to register significant growth in the forecast period owing to a rise in demand for these products in several application areas, such as consumer electronics, smart cards, medical sensors and devices, sports monitoring devices, and biometric monitoring devices.

Application Insights

The wearable devices emerged as the leading application segment accounting for a share of over 33% in 2019. Wearable devices, such as fitness bands and smartwatches, are integrating thin-film batteries due to their enhanced recharging rate and compact design. Smart card application segment is likely to witness significant growth owing to extensive product demand in banking cards and identification cards.

The rise in demand for smart cards for authentication purposes from various sectors is also expected to boost the segment growth in the forecast period. The medical segment is expected to witness considerable growth during the forecast period owing to extensive product usage in medical applications, such as drug patches, Transcutaneous Electrical Nerve Stimulation (TENS) devices, biosensors, diagnostic devices, and patient monitoring devices. Other product applications include Radio Frequency Identification (RFID) and portable devices.

Voltage Insights

Below 1.5 V type emerged as the leading segment in 2019 and accounted for over 45% of the global share. The segment will expand further at a steady CAGR from 2020 to 2027 due to high demand for below 1.5 V thin-film batteries from numerous applications, particularly from lower-power applications, such as wireless micro-sensors, smart cards, toys, medical patches, and RFID tags.

Global thin film battery market share

The above 3 V segment is likely to witness the fastest CAGR over the forecast period. Various applications where above 3 V batteries can be used are smartwatches and consumer electronics devices. The 1.5 to 3 V segment had a significant market share in 2019 and will witness steady growth in the future owing to the use of these batteries in consumer electronics and medical devices, sensors, and smart labels and tags.

Regional Insights

North America dominated the global market in 2019 accounting for a share of over 40% and is expected to retain the leading position throughout the forecast years. Led by the U.S., growing R&D activities and technological innovations are projected to be the key driving factor for the regional market.

Europe accounted for a significant share in the global market in 2019. Growth in the region is a result of ongoing technological developments as well as stringent government safety regulations for battery applications. Germany accounted for a dominant share in the region in 2019 owing to the high demand for wearable and medical devices in the country.

APAC is projected to register the fastest CAGR from 2020 to 2027. This growth is credited to rising product demand, increased adoption of IoT devices, and rapidly expanding electronics device manufacturing industry in the region. Emerging countries, such as China, South Korea, Japan, and India, lead the regional market. The rise in the number of production facilities in these countries and growing application scope are further expected to fuel the market growth over the forecast period.

Key Companies & Market Share Insights

The global industry is moderately consolidated. The vendors continue to focus on technological advancements and innovations in battery technology. Such inventions coupled with competitive pricing are likely to support increasing market share over the forecast period.

Companies are investing heavily in research and development to overcome technological barriers and enhance service quality. Furthermore, companies are also focusing on merger & acquisition and collaboration activities to enhance their technological & financial capability and to increase their market share. Some of the prominent players in the thin film battery market include:

  • Blue Spark Technologies

  • BrightVolt.

  • Enfucell

  • STMicroelectronics

  • LG Chem

  • SAMSUNG SDI Co. Ltd.

Thin Film Battery Market Report Scope

Report Attribute


Market size value in 2020

USD 526.8 million

Revenue forecast in 2027

USD 5,165.5 million

Growth Rate

CAGR of 35.5% from 2020 to 2027

Base year for estimation


Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Battery type, application, voltage, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; U.K.; France; China; India; Japan; South Korea

Key companies profiled

Blue Spark Technologies; BrightVolt.; Enfucell; STMicroelectronics; Cymbet; IMPRINT ENERGY; Ilika; LG Chem; Jenax Inc.; Excellatron; Molex; SAMSUNG SDI Co. Ltd.; Angstrom Engineering Inc.; Front Edge Technology, Inc.; NEC Corp.

Customization scope

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2027. For this study, Grand View Research has segmented the global thin film battery market report based on battery type, voltage, application, and region:

  • Battery type Outlook (Revenue, USD Million, 2016 - 2027)

    • Disposable

    • Rechargeable

  • Voltage Outlook (Revenue, USD Million, 2016 - 2027)

    • Below 1.5V

    • 1.5V to 3V

    • Above 3V

  • Application Outlook (Revenue, USD Million, 2016 - 2027)

    • Wearable Devices

    • Medical

    • Consumer Electronics

    • Smart Cards

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

    • Europe

      • Germany

      • The U.K.

      • France

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Central & South America

    • The Middle East & Africa

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