January 21, 2019
WELLESLEY, Mass., Jan. 21, 2019 – The global market for semiconductor batteries is steadily progressing, owing to the increasing usage of smartphones, application in electric vehicles, internet of things (IoT) expansion and the impact of the data processing market, according to the report “Global Market for Semiconductor Batteries.”
The global market for semiconductor batteries was valued at $8.5 billion in 2018 and is expected to reach $12.8 billion by 2023 at a compound annual growth rate (CAGR) of 8.7% during the forecast period, according to BCC Research.
Major players in the industry include: Panasonic Corporation (PCRFF), BYD Co. Ltd. (BYDDF), LG Chem Co. Ltd., Samsung SDI Co. Ltd., Energizer Holdings Inc. (ENR), Duracell, Cymbet Corporation, Sanyo and GS Yuasa, among others.
“The penetration and adoption rate of semiconductor batteries will improve if such batteries become more affordable and are produced in larger quantities to cater to market demand,” said Abhigyan Sengupta, the report’s author. “In addition, technological breakthroughs can be an additional factor boosting the demand of semiconductor batteries.”
Lithium-Ion Batteries to Drive Future Market Growth
The lithium-ion battery, the most widely used semiconductor battery, has been able to replace well-established rechargeable batteries in the market. The lithium-ion battery has huge growth potential in automotive and industrial applications. There is a tremendous increase in the research and development activities by battery manufacturers and automobile companies to produce efficient lithium-ion batteries to power vehicles, which will shift the global battery market as a whole.
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Global Market for Semiconductor Batteries( SMC113A )
Publish Date: Jan 2019
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