Solid state batteries manufacturers: United States

Part
01
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Part
01

Solid-State Batteries: Apple & Aquion Energy

Apple and Aquion Energy companies are compared in terms of company overviews, types of batteries offered, competitive advantages, and target markets, to provide information on the competitive landscape of solid-state battery production.

Apple's Solid-State Battery Product Efforts

Company Overview
  • "Apple, Inc. engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific." Apple's products and services include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, Apple Care, iCloud, digital content stores, streaming, and licensing services. The company was founded by Steven P. Jobs, Ronald G. Wayne, and Stephen G. Wozniak on April 1, 1976, and has its headquarters in Cupertino, CA
Type of solid-state battery offered
  • Apple does not currently offer a solid-state battery. In fact, Apple does not manufacture any of the batteries used in its products. It purchases lithium-ion batteries from suppliers. However, Apple has received several patents for aspects of fuel-cell technology, possibly to be used in future production of fuel-cell batteries.
Competitive advantages
Target market
  • Apple sells some of its products to high-earning urban professionals, educators, and scientists in the US and internationally, its phones to people of all ages and nationalities, and music-oriented products to teenagers. Men outnumber women 2 to 1 as purchasers.


Aquion Energy's Solid-State Battery Product Efforts

Company Overview
Type of solid-state battery offered
  • Aquion Energy developed a sodium-ion battery using saltwater technology. It was created to store solar energy for residential and possibly grid-level operations.
Competitive advantages
  • The sodium-ion battery was looked upon as a successful technology for energy storage applications, especially solar energy.
Target market
  • The batteries were "designed for a long cycle life, deep depth of discharge, and excellent abuse tolerance." Applications included "off-grid and microgrids, energy management, and grid-scale services". They were made from "abundant, nontoxic materials", with no heavy metals or toxic chemicals, were "non-flammable and non-explosive". Buyers looking for clean, batteries for residential, commercial or industrial energy storage applications were the target market.
Part
02
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Part
02

Solid-State Batteries: BASF and Quantum Scape

BASF does not supply solid-state batteries currently but is in the early stages of research into this type of battery. The company plans to bring this type of product to the market in 10 years and would target automotive manufacturers. QuantumScape has partnered with Volkswagen and will provide them with solid-state batteries.

BASF Corporation

  • This is a link to BASF's website.
  • BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of the Germany-based BASF SE, the world's largest chemical company.
  • The company operates in six segments: chemicals (including petrochemicals and intermediates), materials (performance materials and monomers), industrial solutions (dispersions & pigments and performance chemicals), surface technologies (catalysts and coatings), nutrition & care (care chemicals and nutrition & health), and agricultural solutions.
  • The BASF Corporations' operations accounted for 26.9% of the overall sales of its parent in FY 2019. The company employed 19,355 people as of December 31, 2019. BASF is a dominant player, holding one of the top three market positions in roughly 70% of its many business areas.
  • BASF is a leading supplier of cathode active material (CAM) to battery producers for electrified vehicles worldwide. However, this activity primarily supports the production of lithium-ion batteries and not solid-state batteries. In fact, a search for solid-state on BASF's Product Finder database comes up empty.
  • However, the company is in the early stages of research into solid-state batteries and has the objective to bring products to the market in about ten years. The target market would be automotive manufacturers, who would enjoy the advantages of safety and battery volume. While commercial realization is some ways off, BASF, with its size and dominant market position in other areas, can be expected to become a major player in this line as well.

QuantumScape Corporation

  • This is a link to QuantumScape's website.
  • QuantumScape Corporation, a start-up company located in San Jose, California, develops technology for solid-state batteries, with a view toward improving the production of electrified vehicles (e-mobility).
  • The company's thought leadership in this field is reflected by its over 200 patent and patent applications. QuantumScape employs approximately 33 people.
  • In the summer of 2018, The Volkswagen Group invested $100 million in QuantumScape, became its largest shareholder, and formed a joint venture with the company. The objective of the partnership is to develop and produce sustainable, zero-emission vehicles by 2025.
  • Information about specific products from QuantumScape is scarce. Its website consists of just one page. Volkswagen, in announcing its investment in and partnership with QuantumScape, noted that it sought "to enable an industrial level of production of solid-state batteries." This aim, combined with QuantumScape's deep IP portfolio, suggests a company rich in research and development but not in production and distribution.
  • The competitive advantage of the coming line of batteries lies in their ability to increase the mileage range of vehicles. Volkswagen anticipates that its QuantumScape batteries will allow its E-Golf to run more than twice as long as it does currently.
  • Solid-state batteries also have a higher density, better safety, and faster charging. They are also smaller and lighter than their lithium-ion counterparts.
  • It is not currently clear what target markets QuantumScape is seeking beyond its partnership with Volkswagen.
Part
03
of seven
Part
03

Solid-State Batteries: Excellatron Solid State and Cymbet

Both Excellatron Solid State and Cymbet are privately held companies. The type of solid-state battery product offered by Excellatron is thin film and Cymbet offers "thin film rechargeable." A competitive advantage for Cymbet is that it offers "the world's smallest solid state battery" and a competitive advantage for Excellatron is that it has been "issued or allowed [10 patents] in the field of thin film batteries."

Excellatron Solid State

  • This link is to Excellatron Solid State's website.

1. Company Overview

  • Excellatron is a tech company based in Atlanta, Georgia.
  • It "is a closely held private company."
  • The main mission of the company "is to develop revolutionary energy storage technology as well as the manufacturing technology required for its cost effective commercialization."
  • The company was first established "to commercialize the solid state thin film lithium rechargeable battery technology originally developed at Oakridge National Laboratory." The company "is developing processes that will reduce the manufacturing costs of these batteries by an order of magnitude."
  • Excellatron has business partnerships with the National Renewable Energy Laboratory, Sigma Technologies, Oak Ridge National Laboratory, and Georgia Institute of Technology.

2. Type of Solid-State Battery Product Offered

  • Excellatron offers thin film solid-state battery products.
  • The company also offers lithium air battery products, but does not expressly mention whether they are solid state.

3. Competitive Advantage

  • The company's strong innovation efforts are one of its competitive advantages, as it "has filed 20 patent applications, with ten patents issued or allowed in the field of thin film batteries, and has accumulated a wealth of production know-how and trade secrets in the manufacturing of thin film batteries."

4. Target Market

  • Excellatron's target market consists of manufacturers of electronic devices or "applications that require a high temperature compatible, compact, safe, and high power rate battery" such as portable electronics, cell phones, and smart cards.

Cymbet

1. Company Overview

2. Type of Solid-State Battery Product Offered

3. Competitive Advantages

4. Target Market

  • Cymbet's target market comprises manufacturers across the "12 industry segments" that the company serves.
  • Those industry segments are mobile, industrial, healthcare/medical fitness, telecom/networks, consumer products, embedded energy, semiconductor/nanotechnology/MEMS, IoT, military/transportation/aerospace, power backup, energy storage/harvesting, and academic research.
Part
04
of seven
Part
04

Solid-State Batteries: Solid Power and Amprius Inc.

Solid Power and Amprius Technologies both produce ASSBs by utilizing new materials with different approaches. Solid Power uses technology based on solid inorganic electrolytes to replace the liquid electrolyte found in the conventional lithium-ion battery. Amprius Technologies uses nanotechnology combined with silicon that can store more lithium at a higher density. Both companies have found their respective industries for applications and manufacturing of their products. Solid Power is very well-connected to the EV Market, and Amprius is focusing on aerospace vehicles, smartphones, wearables, and drones.

Solid Power Competitive Positioning

  • Solid Power, established in 2012 has built an impressive world-class team of researchers and engineers. The team has developed a new material to use in ASSBs that are manufactured at scale in their Colorado facility.
  • Their energy-dense ASSBs are highly reliable and deliver high cycle-life and high power allowing them to supply ASSBs in a very competitive fashion for many industries, such as electric vehicles, industrial applications, aerospace and defense.
  • The company's mission is to develop an ASSB that can meet all the mobile power requirements while being produced at scale. They address this mission by creating a collaborative culture based on honesty and transparent communication with a collection of talent that shares a passion to revolutionize the energy storage and e-mobility industry.

Type of ASSB Product

  • Solid Power created a stable solid conducting material that replaces the liquid electrolyte found in a conventional lithium-ion battery for a more stable, safe and efficient cell and pack designed ASSB.
  • Their technology combines a state-of-the-art lithium metal anode that delivers 50% more energy density across many temperature ranges.

Competitive Advantages

Solid Power's Target Market

  • Solid Power's technology received the attention of BMW and Ford Motor Company, which resulted in partnerships to develop ASSBs for Ford's and BMW's next-generation EVs.
  • In a 2018 A round raise, Solid Power raised $20,000,000 from Ford, Samsung, A123 and Hyundai to develop batteries for consumer electronics and EV companies.
  • Solid Power is targeting the EV market by opening the first factory in the US with the ability to produce ASSBs.

Amprius Technologies Competitive Positioning

  • Amprius Technologies, was founded in 2009 based on research first developed at Stanford University using new nanotechnology to create a 100% silicon nanowire anode.
  • Their patented technology allows for less weight and volume than any other lithium-ion battery, plus provides significantly more energy.
  • Amprius' mission is to provide the highest energy density lithium-ion batteries in the world with high energy storage and performance empowering new applications and markets. They have assembled a team with extensive experience in overseeing the growth of high technology companies, such as JA Solar Company and Ray Tracker Inc. (acquired by First Solar).

Type of ASSB Product

  • Amprius utilizes the amazing lithium storage capacity of silicon, which has 10 times the capacity of carbon and adds its patented nanotechnology to prohibit the silicon from swelling, fracturing and breaking apart.
  • Their silicon nanowires have macro and micro porosity to accommodate the swell, improve solid electrolyte-interphase and cycle life, plus the anode thickness is half of the graphite electrodes used in conventional batteries.

Competitive Advantages

  • Silicon is the best material for energy density, and since their batteries are made up of 100% silicon in their nanowires, Amprius is able to provide the highest energy density batteries.
  • They are able to promote the best ratio of energy to power in their batteries due to the silicon being connected directly to the substrate, with no binders allowing for direct flow of energy.
  • Their batteries' nanowire structure provides stability that enables hundreds of cycles with specific energies of more than 435 Wh/kg and energy densities in excess of 1200 Wh/liter.
  • In 2016, Amprius announced its new manufacturing technology that utilizes inline, continuous roll-to-roll production of the silicon nanowires for high production volumes.

Amprius Target Market

  • Amprius is targeting energy cells, power cells for quadcopters and e-VTOLs.
  • In late 2019, Airbus Defence and Space invested in Amprius for their Zephyr project, a solar-electric unmanned stratospheric aerial drone vehicle that performs the dual function of surveillance and satellite communications.
  • The company's competitive advantage from their battery design and capabilities allows them to be used in smartphones, wearables, drones, robotics, aerospace vehicles, electrical transportation, and military equipment.


Part
05
of seven
Part
05

Solid-State Battery Market Size

Determining the US solid-state battery market size was not possible. All market size reports for the solid-state battery market of countries are behind paywalls. The most recent global market size publicly available was $53 million in 2017. North America was said to have the "major share" of the solid state battery market revenue. One report identified North America as having 35 percent of the 2017 global market revenue, which we calculated to be $18.5 million, but we are unable to determine the portion of $18.5 million attributable to the US alone. Helpful findings about the solid state battery market are provided below.

Helpful Findings

Global Market Size and US Segment
  • The global solid state battery market in 2017 was valued at $53 million. It is projected to reach $1.4 billion by 2025. This represents a CAGR of 49% from 2018 to 2025, according to Allied Market Research.
  • According to OpenPR, North America generated the highest revenue in the global market, equal to 35 percent in 2017, or $18.5 million, and is expected to dominate the market during the forecast period. ($53 million x 0.35 = $18.5 million) The North American region consists of Canada, the US, and Mexico.
  • If North America's dominance continued at a rate of 35 percent of revenue, then in 2025 the North American market share would be $490 million ($1.4 billion x 0.35 = $490 million). Most of the North American market share goes to Canada and the US, since Canada and the United States are said to dominate this region of the market.
  • North America accounts for a major share in the global solid state battery market because of increasing demand for batteries to be used in packaging, smart card, and electric vehicle products. An increasing need for "energy-efficient storage systems and safety concerns towards existing battery material" are two of the other factors driving the North America solid state battery market.
  • Inkwood Research projects that by the end of the period 2018-2026, the [North American] market will grow at a CAGR of 65.47%. The US is the major revenue source for the North American solid state battery market.
Segmentation of the Solid State Battery Market
  • The solid state battery market is segmented in several ways. (1) by type (thin-film battery and portable battery), (2) by capacity (less than 20 mAh, between 20 mAh and 500 mAh, and 500 mAh and above), (3) by application (consumer and portable electronics, electric vehicle, energy harvesting, wearable and medical devices, aerospace, and others), (5) by region (North America, Asia and Asia-Pacific, Europe, Latin America, Middle East, and Africa) (6) by battery type (lead acid battery, nickel-metal hybrid battery, lithium-ion battery, lithium metal battery), and (7) by company (Cymbet Corporation, Seeo Inc. [Robert Bosch GMBH subsidiary], StmicroElectronics N.V., Toyota Motor Corporation, Sakti3 Inc. [Dyson Ltd subsidiary], Brightvolt, Inc., Excellatron Solid State, LLC, Infinite Power Solution, Inc., Planar Energy Devices, Inc., QuantumEscape, Altairnano, and Solid Power, Inc.)

Research Strategy

Multiple market research report websites were consulted, but all the full reports were behind paywalls. As much detail as possible was collected from these websites and compared. Industry articles and reports, blogs, battery research reports, media articles, and opinion pieces were consulted in an effort to find ways to conceptualize the market size in the US. No information newer than 2017 was found, so the figures from 2017 were used to triangulate a North American solid-state battery market size, as indicated above.
Part
06
of seven
Part
06

Solid-State Battery Market Growth

The estimated year-to-year growth rate of the United States solid-state-battery market is 66%.

Solid-State-Battery Market

  • The current year-to-year growth rate of the U.S. solid-state-battery market is approximately 66%.
  • The size of the global solid-state-battery market was roughly $53 million in 2017.
  • During the same period, the North America share of the global solid-state-battery market was 35%.
  • The North America solid-state-battery market is projected to rise at a CAGR of 65.47% between 2018-2026 — with 2017 the base year.
  • TechSci Research estimates that the United States share of the North America solid-state-battery market was 33% in 2019.

Research Strategy

The research team's initial strategy involved examining various precompiled studies from authoritative market research databases like IBISWorld, TechSci Research, Grand View Research, and more, for the current growth rate of the U.S. solid-state-battery market. Although we did not find studies specifically addressing the U.S. market, we found useful metrics that enable us to triangulate the information.

CALCULATIONS

Calculating North America Market Size, 2017

Global solid-state-battery market size = $53 million
North America solid-state-battery market share =35%
North America solid-state-battery market size (35%*53) = $18.55 million

Calculating North America Market Size, 2026

CAGR = 65.47%, 2018-2026, where the base year is 2017
North America solid-state-battery market size = $1,042.55 million — calculated using the CAGR calculator, where the initial value is $18.55 million, the rate is 65.47%, and the no. of periods is 8.

Calculating the U.S. Market Size, 2017

Assuming that the region recorded a similar market share of 33% in 2017, then;
North America solid-state-battery market size, 2017 = $18.55 million
United States' share of the solid-state-battery market = 33%
U.S. solid-state-battery market size, 2017 (33%*18.55) = $6.12 million

Calculating the U.S. Market Size, 2026

Assuming that the region maintains a similar market share of 33% in 2026, then;
North America solid-state-battery market size, 2026 = $1,042.55 million
United States' share of the solid-state-battery market = 33%
U.S. solid-state-battery market size, 2026 (33%*1042.55) = $344.04 million

Calculating the CAGR in the U.S. market, 2017-2026

U.S. solid-state-battery market size, 2017 = $6.12 million
U.S. solid-state-battery market size, 2026 = $344.04 million
Base Year — 2018
No. of periods (n) = 8
U.S. solid-state-battery market year-to-year growth rate = 66% — calculated using the CAGR calculator, where the initial value is $6.12 million, the final value is $344.04 million, and the no. of periods is 8.
Part
07
of seven
Part
07

Solid-State Battery Market Drivers

The solid-state battery market in the US has several drivers which include battery technology that offers higher energy density, the search for safer batteries as well as the rapid growth of the electronic vehicles (EV) market.

Higher Energy Density

Search for Safer Batteries

Rapid Growth of Electronic Vehicles (EV) Market

Sources
Sources

From Part 01
Quotes
  • "Apple is on record, via patent filings, to have explored a battery alternative based on fuel cells. Apple won a patent for their fuel cell technology back in March of this year and then advanced their technology as presented in our June report covering a continuation patent. "
  • "Whether Apple's R&D teams are considering solid-state batteries for a future Apple Watch is unknown at this time – but it certainly has potential. "
Quotes
  • "Apple's first patent application covering the possible future use of fuel cells in iDevices and MacBooks surfaced in late 2011. Apple was granted their first patent for fuel cell technology in 2015 followed by a second granted patent in 2016 and a third in 2018. Today the US Patent & Trademark Office published a patent application from Apple that further advances their work on fuel cells in respect to Fuel Cell State Information."
  • "1. A portable computing device configured to control a fuel cell system, the portable computing device comprising: a processor; a memory; and an interface to the fuel cell system, wherein the interface comprises, a power link that provides power to the portable computing device; and a communication link that provides communication from the portable computing device to a controller for the fuel cell system; wherein the memory stores instructions that when executed by the processor cause the portable computing device to: receive fuel cell state information from the fuel cell system through the communication link; send fuel cell control information to the fuel cell system through the bidirectional communication link. "
  • "2. The portable computing device of claim 1, wherein the fuel cell state information specifies one or more of the following: how much power is available from the fuel cell system; a state-of-charge of an internal rechargeable battery within the fuel cell system. "
  • "3. The portable computing device of claim 1 wherein the fuel cell state information specifies one or more of a temperature of the fuel cell stack, a pressure at an inlet of the fuel cell stack, and a pressure at an outlet of the fuel cell stack."
  • "And 16 more specs."
Quotes
  • "Compared with traditional battery technology, lithium-ion batteries charge faster, last longer, and have a higher power density for more battery life in a lighter package. When you know a little about how they work, they can work that much better for you."
  • "Your Apple lithium-ion battery uses fast charging to quickly reach 80% of its capacity, then switches to slower trickle charging. The amount of time it takes to reach that first 80% will vary depending on your settings and which device you’re charging. Software may limit charging above 80% when the recommended battery temperatures are exceeded. This combined process not only lets you get out and about sooner, it also extends the lifespan of your battery."
  • "Charge your Apple lithium-ion battery whenever you want. There’s no need to let it discharge 100% before recharging. Apple lithium-ion batteries work in charge cycles. You complete one charge cycle when you’ve used (discharged) an amount that equals 100% of your battery’s capacity — but not necessarily all from one charge. For instance, you might use 75% of your battery’s capacity one day, then recharge it fully overnight. If you use 25% the next day, you will have discharged a total of 100%, and the two days will add up to one charge cycle. It could take several days to complete a cycle. The capacity of any type of battery will diminish after a certain amount of recharging. With lithium-ion batteries, the capacity diminishes slightly with each complete charge cycle. Apple lithium-ion batteries are designed to hold at least 80% of their original capacity for a high number of charge cycles, which varies depending on the product."
Quotes
  • " Apple Lithium-ion Batteries They’re inside every iPhone, iPad, iPod, Apple Watch, MacBook, and AirPods, helping you do all kinds of things in all kinds of places. Find out more about your battery to get the most out of it throughout its lifespan — and beyond. "
  • "Rechargeable lithium-ion technology currently provides the best performance for your device. Compared with older battery types, lithium-ion batteries weigh less, last longer, and charge more efficiently."
Quotes
  • "Apple has hired Soonho Ahn, a former Samsung executive who worked primarily on lithium-ion batteries and other battery-related technologies, Bloomberg reports. Ahn joined Apple in December after a four-year stint at Samsung. He ran Samsung SDI, which, among other things, supplied Apple with device batteries a few years ago. Bloomberg also reports that Apple is in talks to buy cobalt "directly from miners"—cobalt is needed to make these kinds of batteries. Both revelations suggest that Apple may be looking to make its own batteries rather than source them from other companies."
  • "Apple has a lot of good reasons to zero in on improving and controlling the batteries in its devices, though it remains to be seen what, if anything, the company can substantially improve in this aged technology."
  • "Apple has worked with its suppliers to come up with innovative battery solutions before—for example, the space-saving, L-shaped battery in the iPhone XS. But by bringing everything in-house, the company can gain even more control over how its products are designed and built."
Quotes
  • "Regardless of the result of that lawsuit or the truth in those accusations, the fact is that Apple heavily depends on others. Third parties provide with displays, batteries and other components."
  • "Whether it's because of design reasons or safety reasons, Apple uses batteries with less capacity than its competition."
Quotes
  • "Apple doesn’t make its own batteries (yet), so buying up the raw materials is an unusual step for the company. But it’s a necessary evil, and it’s all thanks to Tesla and the explosion in popularity of electric cars."
  • "So on the surface, the Bloomberg report looks like Apple doing the responsible thing and ensuring it has a consistent supply of an important manufacturing product at a reasonable price. But given Apple’s recent interest in designing all its own modems and processors for use inside its gadgets, it also raises the possibility that the company could start involving itself more in the battery manufacturing process. Currently, Apple contracts out the battery manufacturing for the iPhone, just like it does with the bulk of components. But as battery science continues to improve and battery quality control becomes ever more important, it’s easy to believe Apple could want to exert more and more control over the manufacturing process — and locking down the necessary resources to do so would be a good first step."
Quotes
  • " The battery technology market is somewhat myopic with new technologies, developments and partnerships catapulting the industry forward. Visiongain’s “Top 20 Lithium-Ion Battery Manufacturing Companies Report 2018” provides a great deal of insight on the battery technology market and its top manufacturers. Companies in the report include the following: A123 Systems Inc. Automotive Energy Supply Corporation (AESC) Aviation Industry Corporation of China (AVIC) BYD Company Ltd. CBAK Energy Technology Inc. Comtemporary Amperex Technology Ltd (CATL) GS Yuasa Corporation Hefei Guoxuan High-tech Power Energy Co., Ltd Hitachi Chemical Co., Ltd. Johnson Controls International Plc. LG Chem Microvast Inc. Panasonic Corporation Saft Batteries Samsung SDI Co. Ltd. TDK Corporation/Amperes Technology Ltd (ATL) Tesla Inc. Tianjin Lishen Battery Joint-Stock Co., Ltd. Tianneng Power International Ltd Toshiba Corporation Other notable names in the battery industry include the following: Arotech Corp (ARTX) develops and distributes lithium and zinc-air batteries and counts the U.S. military among its customers. PolyPore Inc. (PPO) produces highly specialized lithium polymer batteries mainly for industrial and medical uses. Ener1 (OTCMKTS:HEVVQ) is an alternative energy company that has a majority-owned joint venture with Delphi Automotive (DLPH) to create battery solutions for electric vehicles. Haydale Graphene Industries PLC (LON:HAYD) is a UK company leveraging nanotechnology and the material graphene to produce, among other things, graphene-based batteries. Applied Graphene Materials (OTCMKTS:APGMF) is also conducting research for graphene-based applications. EnerSys is a pure-play on batteries. It is currently the largest maker of industrial batteries worldwide. "
Quotes
  • "Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. It is considered one of the Big Four technology companies, alongside Amazon, Google, and Microsoft. "
Quotes
  • "Apple, Inc. engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America. The Europe segment consists of European countries, as well as India, the Middle East, and Africa. The Greater China segment comprises of China, Hong Kong, and Taiwan. The Rest of Asia Pacific segment includes Australia and Asian countries. Its products and services include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, Apple Care, iCloud, digital content stores, streaming, and licensing services. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA"
Quotes
  • "Apple’s since its inauguration brought an easy to use computers to the market. So that users would not face any problems while using Apple products. Apple practiced horizontal as well as vertical integration. Apple relied on its own designs and refused to authorize its hardware to third parties. Apple used superior software which made help them to grebe the market share. Apple offered a complete package of desktop solution which includes hardware, software and other things. Apple always used typical design for its products. In the era of Spindler’s (1993-1996), he opt the strategy to expand Apple products to international market. Apple’s competitive advantage are its control of software, Hardware, retail strategy, product differentiation and most important one is Steve Job’s strategically decision making. For the distribution system, Apple launched a website for direct sales for the first time. Apple also spent more money on its Research and Development. Apple’s current competitive advantages can be linked to its initial competitive advantage because user’s now-a-days value the user experience just like when Mac was initially introduced (Bajg, 2012)."
Quotes
  • "The investment analyst firm Market Realist identified brand strength, innovation, supply chain management and premium pricing strategy as key factors in the company’s competitive advantage."
  • "Apple was the world’s leading brand in 2017, ahead of Google, Coca-Cola and IBM, according to annual rankings published by brand consultancy firm Interbrand. Brand strength gives companies like Apple great visibility in the marketplace and helps build consumer loyalty. "
  • "Apple has a long-established reputation for innovation and a commitment to developing new products. The company developed the graphical user interface, first used in its own computers, and, more recently, pioneered the iPod music player and introduced new levels of performance for smartphones. A key competitive advantage for the company is its ability to develop innovative products that share the same operating system, software and applications."
  • "An ecosystem of suppliers, developers and business partners provides Apple with a strong competitive advantage. The company owns chip manufacturers, controls manufacturing, follows extremely strict software standards and operates its own stores. Deals with leading music and entertainment companies provide a vast source of media for all the company’s products. It also has a community of more than 6 million independent software developers creating applications for Apple products. This gives Apple control over the entire process of product development, manufacturing and marketing – an advantage that competitors find difficult to match."
  • "Apple sets premium prices for its products and minimizes discounts to wholesalers to keep prices consistent across the market. The company aims to offer customers a high-quality product with unique features and uses high prices to reinforce the perception of added value and maintain profitability. "
Quotes
  • "Common set of characteristics shared by Apple target customer segment include appreciating design, quality and performance of technology products and services over their prices. Positioning refers to the selection of the marketing mix that is the most suitable for the target customer segment."
  • "The multinational technology company positions itself as a premium brand offering products and services with advanced functions and capabilities for additional costs. Accordingly, Apple target customer segment comprise well-off individuals who are willing to pay extra for technology products and services with advanced design, functions and capabilities."
  • "US and international US and international US and international US and international Density Urban Urban Urban Urban Demographic Age 20 – 45 18 – 30 20 – 35 20 – 45 Gender Males & Females Males & Females Males & Females Males & Females Life-cycle stage Bachelor Stage Newly Married Couples Full Nest I Full Nest II Bachelor Stage Newly Married Couples Bachelor Stage Full Nest I Full Nest II Income High earners High earners High earners High earners Occupation Professionals, managers and executives Students Professionals, managers Professionals, managers and executives Professionals, managers"
Quotes
  • "With Apple, the value proposition that is being offered is the key point that each targeted demographic must consider. The iPhone only costs about $50 to produce, for example, but with cellular providers not subsidizing the phones any more, this means the average consumer will be forced to shell out about $650 to get an updated model each year. This limits the number of people who will ultimately see the value of owning such a device when a household could purchase 4 Chromebooks and still spend less than 1 iPhone."
  • "The Trends of Apple’s Target Market Demographics Men outnumber women on a 2:1 basis when it comes to purchasing Apple products. The average age of an Apple customer is 35-44. 1 in 4 people in the 18-34 age demographic express a strong interest in purchasing an Apple product at some point in the next 6 months. Apple users are 94% more likely to be affluent than others who utilize mobile devices on a regular basis."
  • "Although Apple is considered a premium brand and many products come with a premium price tag, teens are consider one of the primary Apple target market demographics. This is because teens are attracted to the value of an iPod and this translates into wanting iPhones, Macs, and other products later on in life."
Quotes
  • "Similarly, researchers at Stanford have developed a low-cost, durable salt-water battery for solar- and wind-energy storage. These batteries are easy to develop, as they only need manganese sulfate, water, cheap industrial salt, and electrodes for the catalytic reactions. Moreover, the chemical reaction stores electrons as hydrogen gas for future use, illustrating its suitability for grid-scale applications. companies including Aquion Energy are working to make cheaper batteries for grid-level storage. BlueSky Energy uses Aquion’s salt-water technology for residential solar storage."
Quotes
  • " Today, shortly after receiving an award from the Cleantech Group for North American company of the year (yet another kiss of death), Aquion declared bankruptcy. Aquion raised a total of $190 million in venture capital and debt for its saltwater batteries intended for long-duration storage. The company also raised a lot of hype."
  • "The startup just "filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court of the District of Delaware. Immediately preceding the Chapter 11 filing, the Company retrenched to a core R&D team by terminating approximately 80 percent of its personnel (several of whom have also entered into consulting agreements with the Company to assist it in the sale of its assets), paused all factory operations, and stopped the marketing and selling of its products.""
  • "Aquion's sodium-ion battery was designed for multi-hour applications. According to the company, its batteries could deliver a round-trip efficiency of 85 percent and perform 5,000 cycles. The company's cost target was $250 per kilowatt-hour, with the goal of getting to $160 per kilowatt-hour."
  • "As Jeff St. John reported last year, Aquion supplied "what could be the biggest battery ever ordered up by a private citizen" -- a 1-megawatt-hour system, backing up the residence and working farm of Medtronic founder Earl Bakken. And Aquion just announced a microgrid installation at an organic winery and farm in Sonoma, Calif. that combines fourteen 25-kilowatt-hour Aquion batteries (approximately 350 kilowatt-hours of energy storage) with a 30-kilowatt power conversion system from Ideal Power and a 32-kilowatt solar system. "
Quotes
  • "Companies such as Aquion Energy and Aqua Battery are also investing in batteries that use saltwater as a critical component, avoiding the concerns with availability and volatility associated with other alternatives entirely. Although these batteries are still in early development phases, if the technology is commercially viable it could provide an attractive solution to problems with supply and demand of critical minerals such as lithium. "
Quotes
  • " After four months in limbo, saltwater battery maker Aquion is back in business. Juline-Titans LLC acquired the bankrupt Aquion at auction for $9.16 million on June 20. That price beat out a stalking-horse bid of $2.8 million from Austrian energy storage firm BlueSky Energy. Aquion announced a resumption of operations July 21. The good news: This nontoxic, long-duration alternative to lithium-ion technology has another shot at scaling up sales."
  • " The new corporate owner is another source of mystery. Juline-Titans, which registered in Delaware on May 30, is an affiliate of a Chinese investment holding company, China Titans Energy Technology Group, which specializes in power electronics. The more recent announcement, though, refers to the new investor as "a majority-American joint venture." The terms of the contract suggest the new owner will pull the assets out of the existing factory near Pittsburgh, the Pittsburgh Post-Gazette reported."
  • " Aquion had achieved 250 deployments with a cumulative 35 megawatt-hours globally. It targeted long-duration, long-life applications, with a special appeal for microgrid and off-grid applications. Highlights include a 1-megawatt-hour system backing up the residence and working farm of Medtronic founder Earl Bakken and a roughly 350-kilowatt-hour installation at an organic winery and farm in Sonoma, Calif. The company built a full-fledged factory outside of Pittsburgh capable of producing 200 megawatt-hours annually, well more than Aquion has manufactured thus far."
Quotes
  • " Aquion Battery Supply for Energy Storage Aquion Energy Aspen AHI™ saltwater batteries at low wholesale prices."
  • "Since March of 2017, the Aquion Energy R&D and Engineering teams have been working to improve upon the chemistry and quality of the original Aquion S-Line/Aspen battery stack. Improvements will include a boost to the energy density of the stack, continued improvements to cycle life and lifetime capacity degradation all while using the same materials that make Aquion Energy batteries the safest and most sustainable batteries on the market. "
  • "Based on Aquion’s proprietary Aqueous Hybrid Ion (AHI™) technology, Aspen batteries are designed for a long cycle life, deep depth of discharge, and excellent abuse tolerance. Applications include stationary long-duration, daily cycling applications such as off-grid and microgrids, energy management, and grid-scale services. Aspen batteries are 2+ kWh systems at 48V nominal and can be connected in series or parallel for a wide range of system configurations. The unique AHI chemistry is made from abundant, nontoxic materials. This deep cycle battery technology contains no heavy metals or toxic chemicals and is non-flammable and non-explosive, resulting in the cleanest and safest batteries for residential, commercial or industrial energy storage applications. The deep cycle batteries are completely sealed and do not require maintenance. They are self-balancing and therefore do not require an equalizing charge or a battery management system (BMS). The aqueous electrolyte inherently provides natural overcharge and overdischarge protection. This electrolyte along with the high impedance of the system allows Aquion AHI batteries to self balance in string configurations."
  • "Aquion batteries are not available."
Quotes
  • "Aquion Energy is a Bethlehem, Pennsylvania and Washington, D.C.-based company that manufactured sodium ion batteries (salt water batteries) and electricity storage systems. The company claims to provide a low-cost way to store large amounts of energy (e.g. for an electricity grid) through thousands of battery cycles, and a non-toxic end product made from widely available material inputs and which operates safely and reliably across a wide range of temperatures and operating environments.[2] "
  • "The company was founded in 2008 by Jay F. Whitacre, a professor at Carnegie Mellon University, and Ted Wiley. They set up research and development offices in Lawrenceville, where it produced pilot-stage batteries. Whitacre received a BA in physics from Oberlin College and a PhD in materials science from the University of Michigan. He held positions at California Institute of Technology and the Jet Propulsion Laboratory, studying energy-related topics ranging from fundamental materials function to systems engineering. In 2007 he accepted a professorship at Carnegie Mellon.[3][4] The company raised funding from Kleiner Perkins, Foundation Capital, Bill Gates, Nick and Jobey Pritzker, Bright Capital and Advanced Technology Ventures, among others.[5] "
From Part 02
Quotes
  • "In addition to cathode materials for lithium-ion batteries, BASF researchers are working on materials for next-generation batteries, such as all-solid-state batteries."
  • "Research on all-solid-state batteries is still at its beginning. The researchers do not anticipate commercial implementation for at least ten years."
  • "For car manufacturers, this type of battery could offer advantages in terms of safety and battery volume. At the same time, this battery type also allows the use of materials with high energy content such as lithium anodes or high-voltage cathodes, which is much more difficult to realize in liquid electrolyte cells. "
From Part 04
From Part 05
Quotes
  • "Solid State Battery Market by Type (Thin-film Battery and Portable Battery), Capacity (Less than 20 mAh, Between 20 mAh and 500 mAh, and 500 mAh and above), and Application (Consumer and Portable Electronics, Electric Vehicle, Energy Harvesting, Wearable and Medical Devices, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025 "
  • "The global solid state battery market was valued at $53 million in 2017 and is projected to reach $1,407.69 million by 2025, growing at a CAGR of 49% from 2018 to 2025. Solid-state battery uses solid electrodes and solid electrolytes, instead of the liquid or polymer electrolytes found in conventional lithium-ion or lithium polymer batteries. Solid-state batteries find their usage in pacemakers, radio-frequency identification (RFID), and wearable device. Increase in application of solid state batteries in the healthcare, wearable, and drones sectors boosts the growth of the solid state batteries. Moreover, rise in need for solid state batteries in electric vehicle also contributes toward the growth of the global market."
  • "The global solid state battery market is segmented based on type, capacity, application, and region. Based on type, the market is bifurcated into thin film and portable battery. By capacity, the market is divided into less than 20 mAh, between 20 mAh & 500 mAh, and 500 mAh & above capacity batteries. Depending on application, it is fragmented into consumer & portable electronics, electric vehicle, energy harvesting, wearable & medical devices, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The major key players operating in the global solid state battery market include Cymbet Corporation, Seeo Inc. (Robert Bosch GMBH subsidiary), StmicroElectronics N.V., Toyota Motor Corporation, Sakti3 Inc. (Dyson Ltd subsidiary) and Brightvolt, Inc. The other key players include Excellatron Solid State, LLC, Infinite Power Solution, Inc., Planar Energy Devices, Inc., QuantumEscape, Altairnano, and Solid Power, Inc."
  • "Based on region, North America accounts for major share in the global solid state battery market due to increase in demand for batteries from packaging, smart cards, and electric vehicle sectors. The U.S. is among the leading countries to adopt solid state batteries in various applications in this region. However, the Europe market is expected to grow at a significant growth rate during the forecast period."
  • "Thin-film is the most lucrative segment, owing to its growing use in implantable medical devices, such as defibrillators & neural stimulators, smart cards, RFID, wireless sensors, and radio-frequency identification."
  • "In 2017, based on type, portable battery led the market owing to rise in demand for tablet, laptop, smartphone, and e-reader or a MP3 player, which has subsequently increased the demand for solid state battery in portable electronics. Thin film batteries are expected to grow with a highest CAGR during the forecast period."
  • "By capacity: 500 MAH and above is the most lucrative segment, owing to its increasing use for high-energy IoT application. Based on capacity, 500 mAh and above segment is the most lucrative segment in the market."
  • "By application: electric vehicle is projected as the most lucrative segment, as many major players such as Toyota, Volkswagen, Hyundai, and BMW in the industry are developing solid state batteries for their electric vehicles. Based on application, the electric vehicle market is expected to grow with the highest CAGR as many major players such as Toyoto, Volkswagen, Hyundai, and BMW in the industry are developing solid state batteries for electric vehicle application."
  • "Solid State Battery Key Market Segments: By Type: Thin-film, Portable By Capacity: Less than 20 mAh, Between 20 mAh and 500 mAh, 500 mAh and Above By Application: Consumer and Portable Electronics, Electric Vehicle, Energy Harvesting, Wearable and Medical Devices, Others By Region: North America: U.S., Canada, Mexico "
Quotes
  • "North America Solid State Battery Market Is Segmented by Battery Type(Thin-film Batteries, Bulk Batteries, Other Batteries) by Battery Capacity(Less Than 20 Mah, Between 20 Mah & 500 Mah, 500 Mah Above) by Application (Consumer Electronic, Electric Vehicle, Energy Harvesting, Medical Devices, Wearable Devices, Other Applications) & by Geography"
  • "North America solid-state battery market is dominating the global scene by capturing the largest market share in terms of revenue of around xx% in 2017. By the end of the forecast period of 2018-2026, the market is predicted to grow at a CAGR of 65.47%. Investments & initiatives taken by private organizations and favorable norms & policies related to electric vehicles issued by the governments of the North America region are responsible for the adoption of solid-state batteries in various technology."
  • "Canada and the United States dominate this market. The North American region is mainly driven by the growing application and uptake of solid-state batteries in consumer electronics, electric vehicles and energy harvesting. The U.S market dominates this region. The budding research & development activities focused on the commercialization of solid-state batteries are mainly driving this market’s growth."
  • "Some of the noted market companies dealing in the solid-state battery market include Dyson, Imec, Brightvolt Incorporation, Front Edge Technology Inc., Excellatron Solid State LLC, Hitachi Zosen Corporation, Infinite Power Solutions Inc. (Acquired by Apple Inc.), Panasonic Corporation, Prieto Battery Inc., Planar Energy Devices Inc., Robert Bosch, STMicroelectronics N.V., Cymbet Corporation, Solid Power Inc. and Toyota Industries Corporation."
Quotes
  • "Solid State Battery Market Segment by Manufacturers: Johnson Battery Technologies Samsung BMW Hyundai Dyson Apple CATL Bollore Toyota Panasonic Jiawei Bosch Quantum Scape Ilika Excellatron Solid State Cymbet Solid Power Mitsui Kinzoku ProLogium "
  • "Solid State Battery Market Types: Lead Acid Battery Nickel-Metal Hybrid Battery Lithium-Ion Battery Lithium Metal Battery Other "
  • "Solid State Battery Market Applications: Consumer Electronics Electric Vehicles Aerospaces Other "
  • ""
Quotes
  • "North America solid state battery market is expected to grow at steady rate during the forecast period. Growing need for energy-efficient storage systems and safety concerns towards existing battery material are some of the important factors driving the North America solid state battery market through 2024. Additionally, ongoing technological advancements coupled with increasing adoption of energy efficient technologies is further expected to propel the market over the coming years."
  • "Solid state batteries use solid electrodes and solid electrolytes, instead of the liquid or polymer electrolytes found in conventional lithium-ion or lithium polymer batteries. Solid-state batteries find their usage in pacemakers, radio-frequency identification (RFID), and wearable devices."
  • "The North America solid state battery market is segmented based on type, capacity, application, company and country. Based on type, the market can be fragmented into thin film, portable and bulk. The thin film battery segment is expected to register significant growth during forecast period owing to its extensive use in portable medical devices, low power sensors, consumer products, industrial systems, among others. Based on application, the market can be categorized into consumer & portable electronics, electric vehicle, energy harvesting, wearable & medical devices and others. The electric vehicle segment is expected to witness substantial growth during forecast period attributable to the fact that the major automotive market players such as Toyota, Volkswagen, Hyundai, BMW, among others in the industry are developing solid state batteries for application in electric vehicles."
  • "Major players operating in the North America solid-state battery market include Cymbet Corporation, Seeo Inc., Toyota Motor Corporation, Sakti3 Inc., BrightVolt Inc., Excellatron Solid State LLC, Infinite Power Solutions, Inc., Planar Energy Devices Inc., Altair Nanotechnologies Inc., Solid Power Inc. and others. The companies are developing advanced technologies and launching new products to stay competitive in the market. "
  • "Historical Years: 2014-2017 Base Year: 2018 Estimated Year: 2019 Forecast Period: 2020–2024"
Quotes
  • "Next-generation solid-state batteries are part of the Lithium-ion battery markets, which are expected to reach $1 trillion in 2026, in response to the adoption of solar and wind energy generation and the rapid adoption of electric vehicles that replace the gasoline powered vehicles. "
  • "Solid state battery market driving forces include response to IoT, creating business inflection by delivering technology that supports entirely new capabilities is a market benefit. Sensor networks are creating demand for solid state devices. Vendors doubled revenue and almost tripled production volume from first quarter. Multiple customers are moving into production with innovative products after successful trials."
  • "Global warming is forcing a shift from fuels that are burned to renewable energy generation. Solid state batteries represent the next generation of lithium ion batteries and will account for powering electric cars. Batteries are changing in response to the implementation of wind and solar energy systems. Solid state batteries represent the next generation of power storage for vehicles. Nanotechnology permits units to be miniaturized, standalone, and portable. Solid-state batteries have advantages in power and density: low-power draw and high-energy density. They have limitations in that there is difficulty getting high currents across solid-solid interfaces. "
  • "Power delivery is different in solid state batteries, - there is more power per given weight. The very small and very thin size of solid state battery electrodes help to reduce the physical size of the sensor or device using the battery. Units can stay in the field longer. Solid state batteries can store harvested energy. When combined with energy harvesting solid state batteries can make a device stay in the field almost indefinitely, last longer, power sensors better."
  • "Temperature is a factor with batteries. The solid-state batteries work in a very broad range of temperatures, making them able to be used for ruggedized applications. Solid state batteries are ecofriendly. Compared with traditional batteries, solid state thin-film batteries are less toxic to the environment. "
  • "A solid state battery electrolyte is a solid, not porous liquid. The solid is denser than liquid, contributing to the higher energy density. Charging is complex. In an automotive application, recharge cycles go up, rendering a next-generation battery. The cycles increase by the inverse of the depth of discharge. Long shelf life is a benefit of being a solid state battery. The fact that the battery housing does not need to deal with gases and vapors as a part of the charging/discharging process is another advantage. "
  • "Nanostructured or nano-enabled batteries are a new generation of lithium-ion batteries and battery systems to serve applications and markets. Nano-enabled batteries employ technology at the nano-scale, a scale of minuscule particles that measure less than 100 nanometers, or 100x10-9 meters. "
  • "1. Solid-State Battery Market Definition and Market Dynamics 1.1 Batteries with Solid-State Electrolytes Inherently Safer 1.1.1 Solid-State Battery is a Cell Without Any Liquid or Gel Electrolytes 1.2 Electric Vehicles Use Lithium Ion Batteries 1.3 Solid State Battery Challenges and Solutions "
  • ""
Quotes
  • "Increased application areas of solid state batteries such as healthcare, consumer durables, and aviation coupled with aggrandized need for solid state batteries in electric vehicles drives the growth of the market. However, high initial cost of solid state batteries and complex manufacturing process hinder the market growth. "
  • "According to the report, the global market garnered $53 million in 2017 and is expected to reach $1,407.7 million by 2025, registering a CAGR of 49% from 2018 to 2025. Portable solid state battery segment to dominate the global market through 2025 "
  • "Among product types, the portable segment accounted for 86% of the total market share in 2017 and would continue its dominance through 2025. Need for greater battery back-up in tablets, laptops, smartphones, e-readers and even MP3 players has bolstered the demand for portable battery."
  • "The consumer and portable electronics segment contributed 42% of the total market share in 2017 and would maintain its lion's share throughout the forecast period. This is due to the growing demand for solid state batteries in portable electronics such as laptops and mobile phones."
  • "The key market players analyzed in the report include Cymbet Corporation, Seeo Inc. (Robert Bosch GMBH subsidiary), StmicroElectronics N.V., Toyota Motor Corporation, Sakti3 Inc. (Dyson Ltd subsidiary) and Brightvolt, Inc. The other key players include Excellatron Solid State, LLC, Infinite Power Solution, Inc., Planar Energy Devices, Inc., QuantumEscape, Altairnano, and Solid Power, Inc. "
  • "North America generated the highest revenue of 35% in 2017 and is anticipated to continue its dominance during the forecast period. This is due to the increase in demand for batteries from packaging, smart cards, and electric vehicle sectors in the region. The U.S. is the major revenue contributor to the North American solid state battery market."
Quotes
  • "Over the last decade a surge in lithium-ion battery production has led to an 85% decline in prices, making electric vehicles and energy storage commercially viable for the first time in history. Batteries hold the key to transitioning away from fossil fuel dependence, and are set to play a greater role in the coming decade."
  • "UBS estimates that over the next ten years the energy storage market in the United States could grow to as much as $426 billion, and there are many ways to buy into the surge, including chemical companies, battery cell makers, car companies, solar companies and utility companies"
  • "“Capturing the massive economic opportunity underlying the shift to controls and battery-based energy systems requires that planners, policymakers, regulators, and investors take an ecosystem approach to developing these markets,” sustainability-focused research firm Rocky Mountain Institute said recently."
  • "The next step, and what will define the next decade, is utility-scale storage."
  • " batteries hold the key to transitioning to a renewable-fueled world. Solar and wind are playing a greater role in power generation, but without effective energy storage techniques, natural gas and coal are needed for times when the sun isn’t shining or the wind isn’t howling. And so large scale storage is instrumental if society is to shift away from a world dependent on fossil-fuel."
  • "UBS estimates that over the next decade energy storage costs will fall between 66% and 80%, and that the market will grow to as much as $426 billion worldwide. Along the way entire ecosystems will grow and develop to support a new age of battery-powered electricity, and the effects will be felt throughout society."
  • "Sunrun is the largest residential solar company in the United States, while NextEra Energy is one of the country’s largest renewable power companies and is currently building out its utility-scale storage."
  • "In addition to lithium, other minerals like cobalt and graphite are needed for lithium-ion batteries, as well as metals like nickel, aluminum and manganese."
  • "The biggest potential market for energy storage is not individual consumers, however, but massive utility companies. Renewables like wind and solar are providing more and more power for the grid. But until effective energy storage is developed these intermittent sources will continue to rely on fossil fuels."
  • "Billions of dollars are being spent to find alternatives. Solid-state batteries — which use sodium, for example, instead of liquid electrolytes — is one possible option, as are flow batteries, which use tanks of electrolytes to store energy. But neither of these are viable options just yet."
Quotes
  • "Solid state battery market is poised to experience remarkable changes in the years to come, owing to a wide application base and growing environmental concerns which have triggered the demand for electric vehicles. Solid state batteries provide better safety, longer life cycle and entail lower cost compared to the Li-ion batteries, which have helped foster their demand. Several government initiatives for the development of more efficient energy solutions will heavily influence solid state battery industry trends."
  • "Technological advancements have attracted several customers towards the consumption of smart devices, which will stir the adoption of solid state batteries that are more reliable than most other alternatives. In fact, the consumer electronics segment in solid state battery market is slated to witness a CAGR of more than 30% by the year 2025. The ability to provide enhanced storage capacity and short recharging time will strengthen the industry prospects. These batteries have solid electrolyte present in them that ensures enhanced safety when in use, emerging as a key driver for the use of the products in digital cameras and smartphones."
  • "The U.S. Department of Energy says that if and when EV battery costs may fall below $125 per kWh, it will become cheaper for people to own and operate electric cars, as compared to petrol-driven options. Economic viability could substantially increase the demand for solid state batteries, particularly since globalbattery EV marketis estimated to reach USD 425 billion valuation by 2025."
  • "The competitive landscape of Solid State Battery Market is outlined by mergers and collaborations to accelerate technology development. Automotive giant Toyota and tech giant Panasonic have agreed to collaborate on developing various battery technologies, which also includes solid state batteries. The Japanese automaker plans to introduce the resulting solid state batteries by the year 2020 with a goal to sell 5.5 million electrified vehicles deployed with those batteries by 2025. Volkswagen has informed that it plans to spend about USD 56 billion for buying battery cells with suppliers like LG Chem, Northvolt, Samsung SDI, China's CATL and SKI of South Korea as its strategic partner. The company said it aims to reach battery manufacturing capacity of 150 gigawatt capacity in Europe and another 150 in Asia in the next few years and the figure will be doubled by 2030. Tesla recently acquired Maxwell, a battery company based in San Diego in order to surge its battery production capabilities. Such huge investments by automotive giants will help people solid state battery market revenues in the forecast period."