Smart Battery Market - Global Industry Analysis Forecast 2016 - 2024
Smart Battery Market: Overview
Historically, users of rechargeable batteries have struggled with the issue of correct estimation of the battery’s state of charge (SOC), a parameter that reflects the performance of the battery. Batteries do not exhibit visible changes as part of their usage; they look the same when they are empty, half charged, fully charged, or are being overcharged. Batteries almost also look the same when they are new, old, or require a replacement. The accurate estimation of the state of charge of rechargeable batteries is thus highly necessary to protect the battery from overcharge or discharge and improve its performance and life. The proper estimation of SoC is also necessary to enable the user to take greater control of battery-enabled devices and devise strategies to save energy.
To tackle this issue, an increasing number of rechargeable batteries are made ‘smart.’ Smart batteries are regular rechargeable batteries integrated with a microchip, enabling communication between the battery, charger, and the user. In the simplest words, smart batteries are rechargeable batteries that provide reliable SoC indications.
Typical applications of smart batteries are mobile computing devices, smartphones, video cameras, biomedical devices, defense equipment, and a vast array of today’s battery-operated ‘smart’ electronics devices.
The TMR report on smart batteries gives a detailed overview of the global market for smart batteries, wherein it examines the current state of the market and provides projections for growth for the period 2016 to 2024. The report features an analysis of the key factors that will influence market development during this forecast period, from the perspective of key market segments and regional subdivisions. The report examines the major growth drivers, restraints, and trends and predicts the cumulative effect of these factors on market growth. An overview of the regulatory factors at play in market development during the forecast period is also featured in the report.
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Smart Battery Market: Trends and Opportunities
Major factors driving demand for smart batteries globally are rising uptake of battery-enabled consumer electronic devices, growing popularity of Internet of Things (IoT), and consistent efforts by governments to raise public awareness regarding the need to save power and curb carbon emissions. The power generation industry is one of the major contributors to world’s overall carbon emissions. Hence, attempts at devising energy-efficient products can play a significant role in reducing the world’s carbon footprint.
High consumer awareness about energy savings is likely to boost the growth of the global smart batteries market. Government regulations, some already in effect in regional markets and others on course to being implemented, will mandate the use of smart batteries in electronic devices.
Smart Battery Market: Segmentation
The global smart battery market can be segmented based on battery type, application, and geography. Based on battery type, the global smart battery market can be divided into lead acid, nickel-metal hydride (NiMH), nickel cadmium (NiCd), zinc carbon, lithium ion, lithium ion polymer, and alkaline.
Major applications of smart batteries are: Consumer electronics, biomedical devices, automobiles, industrial, and military and defense. Based on geography, the market can be studied for the following markets: Asia Pacific, North America, Europe, and the Rest of the World.