Solid State Battery Market Analysis

Application (Consumer Electronics, Wearable Devices, Electric Vehicles, Medical Devices, Packaging, Wireless Sensors)

The consumer electronics segment in the solid state battery market is estimated to reach the largest revenue share of around 40% by the end of 2037. The growth of this market can be ascribed on account of the increase in electronics manufacturing. Solid-state batteries are used in smartphones, laptops, and electrical components. They are safe, reliable, and offer high performance.

Higher purchase of consumer electronics by people and escalating urbanization all across the globe is also driving the demand for this segment in the predicted time frame. Moreover, growing concerns over safety issues related to liquid electrolytes in batteries have increased the demand for all-solid-state batteries for consumer electronics applications, which in turn influences market expansion during the forecast time period.

Category (Single-Cell Battery, Multi-Cell Battery)

The multi-cell battery segment is predicted to hold 60% share of the global solid state battery market in the projection time period i.e. between 2023 - 2037. Multi-cell batteries have a much longer lifespan than single-cell batteries and are a major growth driver in this sector. These batteries are equipped with a more efficient thermal management system that prevents overheating and extends life.

Our in-depth analysis of the global market includes the following segments: