Global Market: Overview
The smart
battery market is poised for considerable growth in the coming
years, riding on the rising demand and usage of smart electronics such as
smartphones, tablets, laptops, and cameras. Technological advancements aimed at
improving the efficiency of batteries used in various end uses have played a
significant role in the development of this market.
The global market for smart batteries has been studied based
on type of battery, application, and geography. By battery type, the market
includes nickel-metal hydride (NiMH), lead acid, nickel cadmium (NiCd), lithium
ion, alkaline, zinc carbon, and lithium ion polymer. The key applications of
smart batteries are biomedical devices, industrial, consumer electronics,
automobiles, and military and defense.
The report on the worldwide market for smart batteries
offers a detailed assessment of the global scenario, also shedding light on the
key regional segments. The prominent factors influencing its growth have been
identified and analyzed and sharp inputs on how to overcome the major challenges
have also been highlighted. The various regulatory factors at play have been
taken into consideration, offering recommendations on how to capitalize on
them.
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Global Market: Trends and Opportunities
The power generation sector contributes significantly to the
global carbon emission and as a result, there is a growing need to develop
energy-efficient products that will help minimize the carbon footprint. Growing
consumer awareness regarding this need has boosted the uptake of smart
batteries, supported by favorable government regulations. The smart battery
market is also fueled by the soaring popularity of the internet of things (IoT)
and the rising consumption of battery-enabled consumer electronic devices.
In contrast, certain compatibility hurdles and the need for
frequent calibrations pose a challenge to the smart battery market. Moreover,
the high cost of smart batteries in comparison to conventional ones acts as a
major restraint on the market, resulting in poor demand especially in
low-income countries. The high cost of smart batteries is owing to the fact
that they require a special charger.
However, persistent research and development efforts are
being made in order to maintain the cost of production and help steady the
demand.
Global Market: Regional Outlook
From a geographical point of view, the global market for
smart batteries comprises North America, Asia Pacific, Europe, and Rest of the
World. Asia Pacific is one of the most prominent markets for smart batteries
and the rapid growth of this market can be attributed to a booming consumer
electronics industry and the soaring presence of small and large manufacturers,
especially in South Korea and Japan. The demand for lithium ion batteries comes
on the heels of the growing need to curb automotive emissions by gradually
replacing lead acid batteries.
The Latin America smart battery market is also poised for
significant expansion thanks to rapid industrialization in various economies of
the region and the increasing usage of these batteries in power tools, material
handling systems, and UPS devices.
Companies Mentioned in the Report
Sealed Energy Systems, Accutronics Ltd., Rose Electronics
Distributing Company, Inc., ICCNexergy, Trojan Battery Company, Epec, LLC,
Cell-Con, Inc., Cadex Electronics, Inc., and Inspired Energy, Inc. are some of
the leading players competing in the global smart battery market.
It has been observed that industry giants have been
increasingly focused on the manufacturing of lithium ion batteries owing to the
immense potential they present in the electric vehicle as well as consumer
electronics markets. Companies have also been investing heavily in improving
and expanding their production capacities so as to sustain themselves in the
growing market.
This report provides comprehensive analysis of
- Market
growth drivers
- Factors
limiting market growth
- Current
market trends
- Market
structure
- Market
projections for upcoming years
This report is a complete study of current trends in the
market, industry growth drivers, and restraints. It provides market projections
for the coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed profiles of top
industry players. The report also includes a review of micro and macro factors essential
for the existing market players and new entrants along with detailed value
chain analysis.
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