By Cameron Chai
NanoMarkets has released a report on the market for thin-film batteries and estimates that the market will generate nearly $900 million in revenues in 2016.
The report, "Thin-Film Batteries: A New Market Opportunity Assessment - 2011," also predicts that the total value of devices featuring thin-film batteries will achieve nearly $14 billion by 2016.
The company will soon publish a report that analyzes the market for printed batteries and assesses the growth of new materials for Li-ion batteries in September. The thin-film batteries have high energy densities, which when combined with energy harvesting equipment is a promising power source to drive remote sensing devices that don’t need to be replaced or recharged.
The company anticipates that the sensor market will increase demand for thin-film batteries and this sector will consume thin-film batteries worth $400 million by 2016.
Thin-film batteries will be used in the near future for military sensors, smart grids, and wireless sensor networks.
Although thin-film batteries are costly for running garden variety smartcards, NanoMarkets suggests that there are several contributing factors in the smartcard market, which will promote sales of thin-film batteries significantly. Biometric ID cards are expected to render long lives when compared to the average credit card and thus require reliable power sources for its operation. By 2011, the use of thin-film batteries for the smartcard market is estimated to achieve approximately $280 million.
Thin-film battery producers want to attract potential investors by expanding addressable markets and by developing value-added devices. Thus planar energy devices compete with previous lithium ion batteries to serve a wide range of applications while IPS and Cymbet are looking for new opportunities from battery or energy harvesting device combinations.