• Sign In
  • Create Account
  • Sign Out
  • My Account
  • Home
  • Magazine
    • Current Issue
    • Digital Edition
    • CIAdvanced Digital Edition
    • Archives
  • News
  • New Products
  • Topics
    • Advanced Ceramics
    • Refractories
    • Glass
    • Whitewares
    • Brick and Structural Clay
    • Raw and Processed Materials
    • Firing and Drying
    • Batching and Materials Handling
    • Forming and Finishing
    • Instrumentation & Lab Equipment
    • Decorating
  • Columns
    • IP in Depth
    • Glass Works
    • Ceramic Decorating
    • The Big Picture
  • More
    • CIAdvanced Microsite
    • CI Top 14
    • Raw & Manufactured Materials Overview
    • eNewsletters
    • Classifieds & Services Marketplace
    • Virtual Supplier Brochures
    • Market Trends
    • Blogs
    • Material Properties Charts
    • CI Store
    • CI Supplier of the Year Award
  • Multimedia
    • Videos
    • Podcasts
    • Photo Galleries
    • Mobile App
  • Events
    • Calendar
  • Directories
    • Data Book & Buyers' Guide
    • Ceramic Components Directory
    • Materials Handbook
    • Equipment Digest
    • R&D Lab Equipment & Instrumentation
    • Services Directory
    • Take a Tour
  • Contact
  • Advertise
  • Subscribe
    • Print & Digital Edition Subscriptions
    • eNewsletters
    • Online Registration
    • Customer Service
Home » Explosive Growth Projected for Solid-State Batteries
Ceramic Industry NewsAdvanced CeramicsMarket Trends

Explosive Growth Projected for Solid-State Batteries

Increasing consumer spending, particularly for electronics such as smartphones and other gadgets, will benefit the solid-state battery market.

laptops
June 30, 2017
KEYWORDS batteries / ceramics in automotive / ceramics in electronics / ceramics in energy / market reports
Reprints
No Comments

The global solid-state battery market is forecast to reach approximately $1.7 billion by 2021, surging at a compound annual growth rate (CAGR) of more than 72% over the forecast period, according to a recent report from Technavio. Solid-state batteries contain a solid electrolyte, which makes them very compact. These batteries have a longer lifespan, making them suitable for use in consumer electronics such as smartphones and other gadgets. These batteries can meet any abrupt rise in energy demand, as well as the need for renewable energy storage, power conversion, and remote power systems.

“Consumer spending is a significant economic factor since it usually matches with the overall consumer confidence in a nation’s economy,” said Thanikachalam Chandrasekaran, a lead analyst at Technavio for energy storage research. “High consumer confidence indicators typically translate to increased sales of high-drain electronics, boosting the demand for solid-state batteries.”

The growth in global consumer spending is expected to accelerate during the forecast period, primarily due to the recovery of the cost involved in key emerging markets. In addition, rising incomes are contributing to a higher consumption rate in Asia. Developing economies such as China and India offer a lucrative market for solid-state battery vendors.

Smart wearables, such as smartwatches, smart bands, and smart glasses, have been revamped and introduced with added functionalities pertaining to health and wellness, security, and payment portals. Startups such as Pebble are launching products catering to the interest of technology enthusiasts, creating impressive revenues to the wearable devices market. In addition, reductions in manufacturing costs have led to increased sales. The rising demand for wearables has established a stable revenue generation channel for solid-state batteries.

Existing technologies are being pushed to the limits of their functionality to improve their energy condition across the globe. The limitations in existing technologies are driving the development of newer technologies, which can perform tasks more efficiently by using alternate sources and other breakthrough technologies.

“The technological innovations have drawn R&D investments,” said Thanikachalam. “This trend is witnessed in the transportation sector, where the rising fuel prices and limited oil reserves have led to an increased focus on alternate fuel vehicles, and improvement in battery technology and electric vehicles.”

For more information, visit www.technavio.com.

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

Related Articles

Demand will Increase Worldwide for Solar Batteries

Unprecedented Growth Projected for Global Graphene Market

Solid Growth Expected for Zinc Oxide through 2021

Strong Growth Anticipated for Silicon Carbide in Semiconductors

Related Products

Ceramic Thick Films for MEMS and Microdevices

Ceramics for Environmental and Energy Applications: Ceramic Transactions, Volume 217

Ceramic Materials for Electronics, Third Edition

Crystals in Glass: A Hidden Beauty

Related Events

8th Annual Advanced Automotive Battery Conference

13th Annual Lithium Battery Materials & Chemistries

8th Annual Battery Safety

International Battery Seminar & Exhibit

Related Directories

ENrG Inc.

Innovnano-Advanced Materials S.A.

Ceramic Powder Technology AS

Astro Met Advanced Ceramics Inc.

You must login or register in order to post a comment.

Report Abusive Comment

Subscribe For Free!
  • Print & Digital Edition Subscriptions
  • eNewsletters
  • Online Registration
  • Customer Service

More Videos

CI directories

Products

Handbook of Advanced Ceramics Machining

Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

See More Products

CI raw and manufactured materials

Ceramic Industry Magazine

CI September 2017 Cover

2017 September

Find out which companies are the leading manufacturers of advanced ceramics, glasses and refractories in the 2017 CI Top 14!
View More Subscribe
  • Resources
    • Advertiser Index
    • List Rental
    • Custom Content & Marketing Services
    • Manufacturing Group
    • Partners
    • Want More?
    • Connect
    • Privacy Policy

Copyright ©2017. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing