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Li-ion battery market to log 3.8% CAGR from 2014-2019

Posted: 02 Jul 2015 ?? ?Print Version ?Bookmark and Share

Keywords:Research and Markets? Li-ion battery? smartphone? Internet?

According to the latest report from Research and Markets, the global Li-ion battery market for mobile phones is predicted to grow at a CAGR of 3.8 per cent over the period 2014-2019. The report covers the Americas, and the APAC and EMEA regions, as well as the market landscape and its growth prospects in the coming years. It also includes a discussion on the key vendors operating in this market.

Increase in Internet connectivity is one of the major trends being witnessed in this market. Across the world, the use of the Internet is booming rapidly, and major development is taking place in developing economies. Thus, with the increased need for the internet, the need for mobile internet is also growing. This has significantly boosted the demand for smartphones, driving the demand for Li-ion batteries in smartphones.

According to the report, advances in technology are one of the main factors driving the market. Various technological developments in the Li-ion industry have significantly increased the shelf life of the batteries used in mobile phones.

Further, the report states that increased competition among vendors is one of the major challenges in this market. The high potential of smartphones in the global market has attracted many new vendors. These vendors have established a stronger brand image against global brands.

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