How Do Wearable and Medical Devices Boost Consumption of Solid-State Batteries?

The solid-state battery industry has garnered $61.3 million revenue in 2021, and it is expected to generate $775.2 million revenue in 2030, rising at a rate of 32.6% from 2021 to 2030. The growing adoption of electronic gadgets, rising road traction of electronic vehicles, and growing utility of energy storage systems and battery management propels the industry growth.

Solid-state batteries provide support in combating the problems with batteries with liquid electrolytes, such as leakage or corrosion at the electrodes, which involve the usage of solid electrolytes with ionic conductivity to restrict the ohmic drop at electrodes.

In this manner, the lithium-conducting chalcogenide glasses serve as excellent candidates with 10 to 100 times larger conductivity compared to their oxide counterparts.

Several solid-state batteries consist of lithium-conducting chalcogenide glass or glass-ceramic with the development of solid electrolytes.

In addition, the increasing R&D activities on solid-state batteries, growing IoT-based systems adoption, and electronic device miniaturization fuel the industry's growth.

The battery capacity of 20-500 mAh captures the largest revenue share, accounting for 68.2% in 2021. It is led by solid-state battery applications, such as domestic appliances, wearable medical devices, and energy storage systems. Which need such variants.

Why do we need a solid-state battery? 

We need a solid-state battery to boost the capacity of electric vehicle batteries. It is predicted that electric vehicles will replace internal combustion engine vehicles, and lead the auto industry. Thus, EVs are required to deliver a similar mileage level, as the current ICEV. Therefore, it is crucial to expand the capacity of the electric vehicle battery.

There are two methods for increasing the capacity. The first method involves expanding the number of batteries. In this method, if the battery price rises, batteries capture a lot of vehicle space.

A solid-state battery possesses higher energy density compared to a Li-ion battery that utilizes a liquid electrolyte solution. A solid batter does not pose any risk of fire explosion. It does not require any safety components, and thus captures lesser space. Hence, there is enough space left for more active materials that expands the batter capacity.

Therefore, the growing road traction of electric vehicles propels the demand for solid-state batteries.

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Global Solid-State Battery Market Will Reach $3,915 Million by 2030

In the year 2030, the solid-state battery market will reach $3,915 million from $290 million in 2021, at a mammoth 33.5% CAGR in the coming years. The increasing acceptance of gadgets, the rising disposition of EVs, and the rising efficacy of battery managing and energy storing systems are the main factors pushing the industry. Furthermore, the market will be influenced by an increasing volume of robot shipments worldwide. Furthermore, the increasing R&D actions related to solid-state batteries, rising disposition of IoT, and contraction of electronic devices have appeared as the foremost driving forces.

Thin-film batteries had the majority of the share of the solid-state battery market in the recent past, and they are all set to propel at a healthy growth rate to touch $3,486 million by the year 2030. These variations are normally put in fitness bands and smartwatches, because of their smaller size, effective revitalization rate, higher output voltage, lesser weight, advanced energy concentration, higher elasticity, lower possibilities of electrolyte leak, extended shelf life, tighter packing, shortened structure.

In the year 2021, APAC accounted for the largest share in the solid-state battery market, of about 50%, and this will continue in the near future as well. Progressions in the renewable energy sector, a large customer base for movable electronics, and progress in the use of battery management systems are the aspects instigating the sales of these batteries. Furthermore, public establishments in India and China aim to decrease the carbon emission of vehicles and improve the usage of electric vehicles.

Solid-state batteries are advanced to deliver higher energy concentrations, which will advance their proficiencies, therefore resulting in increased sales. For example, in September 2021, scholars from University of California, San Diego, advanced a new battery blending a solid-state electrolyte along with an all-silicon anode, giving improved energy density. Silicon anodes have tenfold higher energy concentration as compared to graphite anodes, usually used in lithium-ion batteries. Also, for uses like grid storage and electric vehicles, these batteries are harmless and enduring.

The demand for solid-state batteries is increasing with the increasing acceptance of electric vehicles.

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