The revenue of smartphone battery cells market increased 7 percent to $7.5 billion in 2020, according to Strategy Analytics.

The revenue growth in smartphone battery market was led by Amperex Technology (ATL), capturing 42 percent revenue share followed by LG Energy and Samsung SDI in 2020. ATL saw impressive design wins in flagship smartphones which aided in the vendor’s battery cell shipments in 2020

The research report said top-three vendors have captured almost 83 percent revenue share in the global smartphone battery market in 2020. ATL, LG Energy and Samsung SDI drove their success by customizing battery cells to meet smartphone customer needs.

Smartphone OEMs increased the adoption of high-density cells and dual-cell battery system leading to the growth in market revenues, Jeffrey Mathews, senior analyst at Strategy Analytics, said.

Strategy Analytics forecasts that battery cell shipments are set to increase on the back of growing demand for high-density cells to meet the mass market and 5G smartphone adoption. This will be further complemented by the uptake in fast charging smartphone technology.