The market for solid state batteries is expanding as a result of factors such the increased demand for these batteries in electric cars, the trend toward smaller consumer devices, and the expansion of big corporations' R&D efforts. In addition to supporting cutting-edge consumer electronics like mobile phones and laptops, solid-state batteries are being used in cutting-edge applications like energy harvesting and wearable technology.

Key Players:

Cymbet (US), Robert Bosch (Germany), Toyota Motor (Japan), Solid Power (US), Excellatron Solid State (US), and BrightVolt (US) are a few of the major companies operating in the Solid State Battery Market.

“Single-Cell Batteries to hold larger market share in Global Solid State Battery Market”

During the anticipated period, the single-cell battery category is anticipated to dominate the solid state battery market. Since more than a decade ago, single-cell batteries, often referred to as thin-film batteries, have been in use. They are chosen above others for small gadgets. To ensure increased safety and battery life, manufacturers who are building portable goods with limited internal space prefer micro batteries over traditional batteries. Wearable technology, smart cards, smart packaging, and medical equipment all frequently use thin-film batteries. The tendency toward smaller electronic devices has raised the need for thin-film solid-state batteries, greatly boosting the market for single-cell batteries. The market for solid-state batteries is expanding as a result of the rising demand for smart cards in the telecommunications, banking, and transportation industries for use in payment applications.

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“Medical Devices Application accounted largest market size in 2021”

The Solid-State Battery Market in 2021 was dominated by medical devices. A lot of businesses are inventing and providing solid-state batteries to power medical equipment including temperature sensors, pacemakers, and smart patches. Solid-state batteries are currently used extensively in the medical devices market. High-capacity battery-powered medical devices are now possible because to technological improvements and the quick uptake of IoT in the medical industry. Solid-state batteries satisfy all these requirements because of their excellent reliability and performance, making them ideal for use in implantable medical devices including pacemakers, defibrillators, and neurological stimulators.

A flexible and thin power source is needed for modern pacemakers, medication delivery systems, medical patches, medical diagnosis sensors, disposable medical devices, and biosensors; solid-state batteries' small size and great flexibility meet all of these needs. Therefore, a sizeable portion of medical devices would be included in the market for solid-state batteries as a result of the growing acceptance of these batteries in medical equipment.

“Market in Europe to grow at highest CAGR during 2022-2028”

Europe is expected to grow at the highest CAGR during the forecast period. Major applications of the Solid-State Battery Market in Europe include packaging, consumer electronics, electric vehicles, and medical devices such as Robert Bosch (Germany) and Ilika (UK), and Blue Solutions (France) are developing the next-generation flexible devices. These devices require power sources that are not only small but also have high power density to complement the product design; these requirements are fulfilled by thin-film batteries. According to (International Energy Agency), Europe has overtaken China and become the main market for electric vehicles. The Solid-State Battery Market in Europe includes regions such as the UK, Germany, France, and the Rest of Europe.

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