According to the recent research report titled ‘Solid State Battery Market Size By Product (Thin Film, Bulk Storage), By Application (Industrial, Automotive, Consumer Electronics, Energy Storage), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, global solid state battery market is expected to amass over USD 2 billion by the year 2025.
 

As per the report, global solid state battery market growth is largely fueled by growing renewable energy sector, positive outlook towards electric vehicles, and increasing expenditure on consumer electronics. Moreover, technological advancements and growing adoption of energy efficient technologies are enhancing the overall market outlook.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2144047/
 

Extensive research & development activities conducted by major players towards commercialization of innovative technologies is anticipated to add momentum to industry progression.
 

Shifting preference to zero-emission vehicles, and strong investments in the development of sustainable transportation solutions are expected to propel the solid state battery industry growth. Rising demand for personal mobility as people's living standards rise will have a positive impact on the business scenario.
 

Speaking of the factors restraining worldwide solid state battery industry expansion, high manufacturing cost of the battery continues to pose as a threat.
 

Based on product type, thin film segment is slated to grow substantially over the analysis timeframe owing to surging demand for wearable devices, smart cards, and RFID tags. Additionally, wide product usage across industrial systems, low power sensors, medical devices, and military will propel segmental expansion.
 

Elaborating on application spectrum, consumer electronics segment is projected to expand by 30% by 2025, attributable to increasing purchasing power of customers, and growing interest towards portable devices.
 

Geographically, Germany solid state battery market was valued at USD 8 million in 2018 and is expected to expand further through 2025, creditable to strict norms regarding carbon emissions and mounting demand for efficient storage technologies.
 

Decreasing cost of electric vehicles as a result of significant technological advancements in design is likely to boost commercial outlook. Furthermore, favorable government measures aimed at deploying sustainable energy technologies will fuel the regional market development.
 

Leading players influencing global solid state battery market dynamics are Solid Power Inc., Hitachi Ltd., BrightVolt, 24M Technologies Inc., Front Edge Inc., Planar Energy Devices Inc., IIika plc, Cymbet Corp., Altair, Robert Bosch GmbH, QuantumScape, STMicroelectronics, and Toyota Motor Corporation.