The smart battery charger market is growing rapidly, owing to developments taking place in various sectors such as telecom, consumer electronics, and others. The smart battery market has massive potential in particular sectors such as automotive as rise in crude oil prices is expected to drive the demand for electric vehicles. This will in turn propel the demand for the smart battery market. The growth of the consumer electronics sector will increase the demand for the smart battery market, as smart battery provides consumer electronics high life cycle and slow discharge of the battery.
Factors such as increasing concern for environmental and renewable energy and rise in carbon emission are the major drivers for the smart battery charger market growth. However, high cost of the chargers hinders the smart battery charger market growth. Furthermore, growing focus and awareness regarding the importance of charging management encourages manufacturers to develop safe and rapid charging technologies, and increasing demand for wireless, smart and high temperature-resistant battery chargers provide lucrative opportunities to the smart battery charger market.
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Key players operating in the smart battery charger industry are Accutronics Limited, Analytic Systems Ware Ltd., Anoma Corporation, Associated Equipment Corporation, Energizer Holdings Inc., Exide Technologies, Ferro Magnetics Corporation, FRIWO AG, HindlePower, Inc., and Panasonic Corporation. These players adopt collaboration, partnership, and agreement as their key developmental strategies to increase revenue of the smart battery market and develop new products for enhancing their product portfolio.
Li-Ion has become the most popular example in smart batteries as it is used for consumer devices such as cellphones, laptops, and tablets, and in electric vehicle batteries. A Li-Ion battery is lightweight, has no memory, and exhibits low self-discharge. Li-Ion batteries have many features to support in built application, but they are less bearable for over-charging, over-temperature, and excessive current as compared to other batteries. They operate in certain limitations such as safe operation; if these batteries are exceeded over their limit, the consequences can include reduced battery life, reduced capacity, or even cause spontaneous fires.
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