The Time of 'Battery of Things' is Approaching

2016-03-31 13:48

Samsung Urges Collaboration in Battery Tech

Samsung SDI CEO, Cho Nam-Seong, says the time of 'Battery of Things' is Approaching.

Cho Nam-Seong, a senior executive at Samsung said batteries will reshape the landscape of global technology amid the rise in connected devices, and urged interested parties to cooperate in a new ecosystem.

"Technology devices will evolve into wearable devices. We will see more eco-friendly transportation systems; and batteries will have a core role. This is, I believe, an emergence of the Battery of Things (BoT)," Cho told reporters on Wednesday.

The executive also urged companies, and governments to expand the use of smart grid applications for efficient energy management.

He made such remarks on the sidelines of his participation at the Battery Conference 2015 held at COEX, Seoul.

The executive expects the monetary value of lithium-ion battery market to grow to $150 billion by 2025 from the current $20 billion market, powered by the rise of wearable, connected devices and electric vehicles. He also stressed the energy sharing, collaboration and open innovation of the industry. However, he said that batteries will remain at the center of all the new technology and trends.

When asked about the market potential in EVs, Cho said the demand is steadily on the rise, thanks to the increased plans by governments to cut down carbon emissions. The demand for EVs will grow to 20 million by 2025, taking up 25% of the total car demand, he concluded.

(Source: The Korea Times)


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