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A key trend of the smart battery market is the need of social connectivity. Nowadays
everyone wants to be socially connected. So switching to a smart battery provides
longer back-up.
The smart battery market is growing at a fast pace, which is attributable to the
developments taking place in various sectors such as telecom, consumer
electronics. This smart battery market has huge potential in specific sectors such as
automotive as crude oil prices are increasing which drives the demand for hybrid
electric vehicles. This will rise the demand for smart battery market. The growth of
consumer electronics sector will increase the demand of smart battery market, as
smart battery equips consumer electronics with high life cycle and slow discharge of
the battery.
There are various driving factors for this market such as the increase in the carbon
emission, rising environmental concern and renewable energy growth. The
government is trying to curb the carbon emission by imposing strict rules and
regulations.
The Smart trio i.e. smart energy, smart healthcare and a smart city will create the
positive impact on the smart battery market. Smart battery for a sensor is the next
big thing for the smart battery market, as sensors are now an integral part of our
lives from wearable devices to smart homes to smart grids.
Continuous research and development and the augmented demand will keep the
smart battery market vibrant.
The high cost is a major restraint of smart battery market, as a high cost of a smart
battery as compared to conventional batteries results in low demand from
economically weak countries. Another restraint is related to its component as smart
battery requires special charger which is an addition to its high cost. On the other
hand, the need for periodic calibration and its compatibility issue with some devices
as not much regulations are there.
Some of the key players identified in the global smart battery market are Sealed
Energy Systems, Cadex Electronics Inc., Smart Battery, Trojan Battery Company,
Cell-Con, Inc., Accutronics Ltd, Inspired Energy Inc., ICCNexergy, Inspired Energy
LLC., Epec, LLC., Rose Electronics Distributing Company, Inc..
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Historical, current and projected market size in terms of volume and value
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