Global Laminate Lithium-ion Battery Market 2019-2023 | Rising Demand for Smart Devices to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 20, 2018--Technavio ’s global laminate lithium-ion battery market research report forecasts the market to grow at a CAGR of around 14% during the forecast period.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181120005417/en/
Technavio has released a new market research report on the global laminate lithium-ion battery market for the period 2019-2023. (Graphic: Business Wire)
The decline in lithium-ion battery prices will be one of the major trends in the during 2019-2023. Lithium-ion batteries account for a major part of the overall vehicle and equipment cost. The lithium-ion batteries are costly when compared with lead-acid batteries. But, there has been a decrease in the manufacturing cost of lithium-ion batteries. The prices of lithium-ion batteries have decreased at a CAGR of 96.86% during the period 2010-2017. This decrease in prices can be attributed to the rising adoption of lithium-ion batteries by the automotive industry and the development of cost-effective production methods by vendors.
According to Technavio’s analysts, one of the key drivers for the global laminate lithium-ion battery market is the rising demand for smart devices:
Global laminate lithium-ion battery market: Rising demand for smart devices
There has been a steady increase in the demand for smart devices as the market has been experiencing technological advances such as enhanced user interface, improved network connectivity, and new feature additions. These features have led to the launch of various smart devices such as smartphones, tablets, and smart wearables including, smart watches, smart bands, and smart glasses.
According to a senior research analyst at Technavio, “The demand for smart devices has been increasing owing to factors such as digital literacy and affordability. Additionally, the growing Internet penetration and the increasing income levels and spending power of consumers are contributing to the steady increase in the demand for smart devices.These smart devices majorly use laminate lithium-ion batteries as a power source owing to their high energy density and low discharge rate.”
Global laminate lithium-ion battery market: Segmentation analysis
This global laminate lithium-ion battery market analysis report provides market segmentation by application (consumer electronics, automotive, and others) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major applications, the consumer electronics segment held the largest laminate lithium-ion battery market share in 2018, contributing to over 79% of the market. This application segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2018, accounting for close to 48% share. It was followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20181120005417/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
KEYWORD: EUROPE ASIA PACIFIC NORTH AMERICA SOUTH AMERICA AFRICA MIDDLE EAST
INDUSTRY KEYWORD: ENERGY OTHER ENERGY PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 11/20/2018 09:04 AM/DISC: 11/20/2018 09:04 AM