- <3000 mAh segment has showcased significant growth in 2022
- Government initiatives have also been one of the reasons for silicon battery market growth
The silicon battery market size was valued at USD 50.2 Million in 2022 and is anticipated to be USD 1,989.6 Million by 2032 at a CAGR of 44.6%, says DataHorizzon Research report.
The reason behind the growth of the silicon market is technological advancements in end-use applications and quick charging. Silicon has been used in the positive terminal of batteries, which provides standard energy density and also gives the battery a life to live longer.
The initiatives taken by the manufacturers have played a significant role in the silicon market development, and government initiatives have also been one of the reasons for this growth.
According to the report, the <3000 mAh segment has showcased significant growth in 2022; the reason behind this growth is the extensive use of semiconductors in the consumer electronics industry. Based on end-use, consumer electronics accounted for a significant market share in 2022 due to the surging demand for portable computers, laptops, tablets, and smartphones.
Asia Pacific is showcasing massive growth in the global market. The growing demand for electric vehicles in Asia Pacific is one of the primary reasons for the increased demand for silicon batteries in the region. Adopting innovative strategies among key players may attract tremendous growth in upcoming years.
