The global lithium ion battery market was valued at $30.2B in 2017 and is projected to reach $100.4B in 2025.
This growth can be attributed to many industry and innovation drivers:
- Power Banks
- Power Tools
- Life Extension
- Energy Density/Weight
- Cost Reduction
- Charging Speed
- Operating Temperature
- Battery Management System
As battery technology becomes more complex, we are seeing more battery management system components come into the market as well, including:
- Temperature sensors
- Voltage regulators
- Charge-state monitors
- Energy level monitors
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The World of Lithium Ion Batteries
Lithium ion (Li-ion) batteries are one of the most widely used rechargeable battery types, especially for mobile devices such as smartphones, tablets and laptops, and in electric vehicle applications. The continually growing interest in Li-ion technology and applications translates to a forecast CAGR of over 20%, and a market of approximately $100 billion by 2025.