The latest report on Solid State Battery Market by Infinium Global Research gives complete coverage of the Solid State Battery Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Solid State Battery such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Increasing Adoption of Solid State Batteries in Consumer Electronics is the Major Driving Factor of the Solid State Battery Market
Automotive manufacturers focused on battery technology to shift away from fossil-fuel-powered vehicles towards hybrid and electric. Solid state batteries offer fast charging times and good heat resistance and it requires less area for temperature control than their lithium-ion counterparts. They can also completely charge or discharge in just seven minutes that is ideal for vehicle applications. The fast-growing electric vehicles market is made up of major groups of electric vehicles, each with a distinct set of requirements. Batteries for electronic devices are used mainly within laptops and mobile phones, as well as for tablets, e-readers and other devices.
The increasing adoption of solid state batteries in consumer electronics is the major driving factor of the solid state battery market. The demand for solid state batteries is increasing due to its use in radio-frequency identification (RFID), wearable devices, electric vehicles, pacemakers, and other consumer electronics. Furthermore, factors such as increasing investment of automobile companies and rising demand for electric vehicles in the automotive industry are driving the growth of the market.
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“We have Decided to Extend our Support to the Industry on Account of Corona Outbreak by Offering Flat Discount 30% on All Our Studies and Evaluation of the Market Dynamics in Global on Solid State Battery Market Amidst COVID-19.”
Maintaining Eco-Friendly Environment is Expected to Provide Growth Opportunities to the Industry
Solid state batteries are widely used in transportation, grid storage, and other sectors. Growth in the application of solid state batteries in the healthcare, wearable, and drone’s sectors is boosting the market growth. However, the high cost of solid state batteries is restraining market growth. Moreover, increasing production of electric vehicles due to strict government regulations for maintaining eco-friendly environment is expected to provide growth opportunities to the market.
Geographically, North America dominates the global solid state batteries due to the rise in demand for batteries in electric vehicles, and smart cards. Europe is the second largest market for solid state batteries owing to the increasing acceptance rate of solid state batteries in consumer electronics. Asia-Pacific is expected to grow with healthy CAGR due to the growing adoption of solid state batteries in the wearable devices in China and Japan.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Solid State Battery.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.