Frost & Sullivan is a global research and consulting organization that focuses on identifying “The Next Big Things” in the industries it covers by understanding the interplay between industry convergence, mega trends, technologies and market trends. According to a Frost & Sullivan report, Implications of Mega Trends on Batteries, “Rapid advances in wearable devices and the Internet of Things (IoT) are being mirrored by breakthrough innovations in battery technologies.”
The report cites four Mega Trends that are powering the accelerated growth of batteries: connectivity and convergence, smart is the new green, future of energy, and health, wellness and wellbeing. It also includes the following graphic that prioritizes the impact of trends on future products and services, and states, “While all Mega Trends are important, the selection and ranking of these [ten] trends indicate which shifts will have relevance in shaping the global evolutionary landscape.”
The report notes several implications of these trends for battery technology, including:
- IoT, wearables and the need for low-cost but safe and energy-dense batteries drive technological advances, including 3D electrodes and thin form factors.
- Solid-state battery chemistries are becoming increasingly preferred to power miniature devices that require high energy density.
- As sensors are integral to smart grids, wearable devices (consumer, healthcare) and connected homes, manufacturers of thin-film and solid-state batteries will feel optimistic about their market prospects.