According to the new market research report "Solid State Battery Market by Type (Thin-Film, Portable Battery), Capacity, Application (Consumer Electronics, Electric Vehicles, Medical Devices, Packaging, RFID, Smart Card, Wearable Devices, Wireless Devices), and Region - Global Forecast to 2020", The solid state battery market is estimated to reach USD 1,104.3 Million by 2020, at a CAGR of 72.3% between 2015 and 2020.

The increasing trend of miniaturization of electronic devices, requirement for solid state battery in electric vehicles, and the growing need for battery with extended life cycle are the major drivers for the solid state battery market.

Browse 68 market data tables with 74 figures spread through 149 pages and in-depth TOC on "Solid State Battery Market - Global Forecast to 2020"

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Thin-film batteries are expected to lead the solid state battery market

The thin-film battery has been existing for more than a decade. The growth is precedential due to the growing adoption of thin-film solid state battery in the applications such as packaging, smart cards, medical devices, wearable devices, wireless communication, and others which have a limited internal space and require thin, flexible, and efficient power source.

The market in the electric vehicles sector expected to increase at the high growth rate

Electric vehicles (EVs) are expected to be one of the major segments for solid state batteries. Many major players in the industry are developing solid state batteries to address the current problems in the market.

Portable solid state batteries are designed primarily with solid electrolytes which overcome the disadvantages of conventional batteries with liquid-based electrolytes. The battery compliments the requirements of electric vehicles as they are compact, cost-effective with improved power density, and last longer over a single charge.
However, the solid state battery for the electric vehicles application is yet at its development stage and is expected to be commercialized in the next three to five years.

The solid state battery market was valued at USD 51.6 Million in 2014 and is expected to grow at a CAGR of 72.33% during the forecast period. The base year used for this study is 2014 and the forecast period is between 2015 and 2020. This report provides a detailed analysis of the market based on verticals and regions.

The increasing need for advance battery technology that overcomes the disadvantages of convention batteries in the electric vehicles application and the growing need in various applications for an advanced battery with longer life cycle are two of the major drivers for the market. Additionally, the solid state battery has the capability to power advanced devices that are compact and have limited internal space and enable efficient working.

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Research Methodology:

The research methodology used to estimate and forecast the market begins with capturing data on key vendor revenue through the secondary research. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global solid state battery market from the revenues of key players in the market.

In this report, the solid state battery market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

•Market, by Capacity: Less than 20 mAh, 20 mAh to 500 mAh, and 500 mAh and Above

•Market by Application: Consumer electronics, electric vehicles, energy harvesting, entertainment, medical devices, packaging, portable devices, smart cards, wearable devices, wireless communication, and others.

•Market, by Geography: North America (subsegmented into the U.S., Canada, and Mexico), Europe (subsegmented into the U.K., Germany, France, and others), Asia-Pacific (subsegmented into China, Japan, South Korea, and others), and the Rest of the World (subsegmented into Latin America and the Middle East).

After arriving at the overall market size, the total market has been split into several segments and subsegments which have been verified through the primary research by conducting extensive interviews of people holding key positions such as CEOs, VPs, directors, and executives.

Graphical Analysis:

North America accounted for the largest share of the solid state battery market in 2014, whereas the European market is expected to grow at a high growth rate during the forecast period.

The market for portable batteries is expected to grow at a high CAGR during the forecast period. Potable batteries are being developed to complement electric vehicles and portable devices among others. The advantages of portable batteries over conventional batteries with liquid- or gel-based electrolytes are expected to drive the market for the same.

Companies such as Robert Bosch GmbH (Germany), Toyota Motor Corp. (Japan), Sakti3 Inc. (U.S.), and others are investing majorly in the activities to develop and commercialize these batteries within the next three to five years.
One of the key restraining factors in the solid state battery market is that the manufacturing process and methods used for developing a solid state battery is complex.

The leading position of North America can be attributed to the demand from packaging, smart cards as well as electric vehicles sectors in this region for the solid state battery. This is a result of the U.S. being amongst the leading countries to adopt solid state batteries in various applications.

The manufacturers need to continuously focus on the research & development of these batteries to scrutinize its working and efficiency. Cymbet Corp. (U.S.), Robert Bosch GmbH (Germany), Sakti2 Inc. (U.S.), STMicroelectronics N.V. (Switzerland) are a few of the leading companies developing advanced next-generation solid state battery technology for various applications.

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