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Advancement in technology and materials has substantially increased the performance and reliability of battery systems. The liquid electrolytes used in conventional lithium-ion batteries are replaced by lithium metal electrodes in solid state batteries. As a result the solid state batteries are more efficient and can store more energy than conventional batteries. The rapidly developing consumer electronics and sensor market is the major market for solid state batteries. These end-user industries require high performing and long lasting batteries for effective working of their systems. The solid state batteries are used in a wide variety of wireless applications. These batteries have also been deployed in a wide range of energy storage applications. The market for solid state batteries is anticipated to grow at a substantial rate in future owing to increasing requirement of efficient batteries from the consumer electronics segment. It is projected that major manufacturing companies in this industry are working towards large scale commercialization of solid state batteries.
 
The demand for efficient batteries and growing consumer electronics market are the major drivers attracting investment in solid state batteries market. The solid state batteries are safe devices when compared to conventional batteries as flammable liquid electrolyte is not used in these batteries. The automobile companies are also investing significant amounts in efficient solid state batteries for the electric vehicles manufactured by them. The smartphone industry is a major end-user of these batteries and the market for these batteries is anticipated to further grow owing to development in wireless technologies. However, these batteries are priced very high when compared to conventional batteries which is a major restraint for the growth of this market. Developing economical solid state batteries for a wide range of applications is a major challenge for the industry.
 
The market for solid state batteries can be segmented on the basis of end-user industries and type. The major end-user segments of this market are consumer electronics, sensor technologies, automobile industry and others. The consumer electronics and sensor technologies account for the major portion of the market share in terms of installations. On the basis of type solid state battery market can be segmented as Lithium Ion batteries, Nickel- Cadmium batteries and Lead acid batteries. The Lithium –Ion batteries account for the major for the major portion of the market share in this segment. 
 
Solid state batteries are gaining popularity across the world. The efficient designs and improved performance has led manufacturing companies to increasingly invest in this technology. The smartphone and sensor industry is the major consumer segment of this technology. Asia Pacific is the most developing market in terms of smartphone users and manufacturers. South Korea and China has emerged as major manufacturing hubs in the consumer electronics segment. These countries are major markets for solid state batteries in the Asia Pacific region. Major technological innovators are trying to capture this market and thus Asia Pacific will provide growth opportunities to solid state battery market. Europe and North America are also major markets for this industry. The manufacturing companies in these regions are substantially investing in developing more efficient solid state batteries. 
 
Some of the major companies in the solid state batteries market are Ilika plc., Excellatron Solid State, LLC, Cymbet Corporation and Solid Power, Inc. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Solid State Batteries Market

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