The internal combustion engine's era will unfortunately, but unavoidably, come to an end in many of our lifetimes. Hybrid and electric vehicles are rapidly becoming more affordable and advanced, implying that batteries are rapidly replacing fossil fuels. As a result, battery technology has advanced at a breakneck pace, with the primary aims of increasing capacity, charging times, and safety. The introduction of solid-state batteries, which promise to push the limits of conventional lithium-ion batteries, is one key achievement in this subject.
Market Analysis: The global solid state battery market is predicted to increase at a CAGR of 34.2 percent from USD 62 million in 2020 to USD 483 million by 2027. The solid state battery market is developing due to factors such as the increasing demand for solid state batteries in electric cars, the growing trend toward miniaturisation of consumer devices, and growing R&D activities by key firms.
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