Published on : Oct 05, 2016
Solid state batteries are a novel type of batteries distinguished by their use of solid electrolytes instead of liquid ones. Solid electrolytes have a much higher conductance than conventional electrolytes, imparting solid state batteries a much higher power density than conventional batteries. In spite of this, the overall electronic resistance of solid state batteries is higher, insuring them against self-discharge. This is another key aspect of solid state batteries, since the relatively high self-discharge rate of conventional batteries makes them impracticable in many applications.
Booming Consumer Electronics Industry a Crucial Driver for Solid State Batteries Market
One of the prime drivers for the global solid state batteries market is the flourishing consumer electronics industry across the world. Due to the need for long-lasting batteries in electronic goods such as smartphones, tablets, and laptops, the solid state batteries industry has received a steady sales outlet that’s likely to expand in the coming years. The rising demand for consumer electronics and various accessories thereof in Asia Pacific is vital for the global solid state batteries market, since solid state batteries are likely to undergo advancements through research efforts by key players in the consumer electronics market.
Steady Development of Internet of Things to Drive Demand for Solid State Batteries
Sensors are another key revenue generator for the global solid state batteries industry. The global demand for sensors has received significant impetus in recent years in the form of the smooth development of the Internet of Things (IoT). Networking intelligent devices to operate together requires reliable and long-lasting batteries, since many types of sensors need to be operational virtually constantly. The steady funding supplied by governments as well as private entities for the development of IoT technology is likely to ensure smooth demand from the solid state batteries market in the coming years.
Asia Pacific to Dominate Solid State Batteries Market due to Flourishing Consumer Electronics Industry
Geographically, Asia Pacific is the leading contributor to the global solid state batteries market. This is primarily due to the high demand from Japan, South Korea, and China, where many of the global leaders in the consumer electronics industry are located. China and South Korea, in particularly, are likely to be the leading markets for solid state batteries in the coming years.