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The Evolution of Battery Technology

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The Battery Series
Part 1: The Evolution of Battery Technology

The Battery Series is a five-part infographic series that explores what investors need to know about modern battery technology, including raw material supply, demand, and future applications.

Presented by: Nevada Energy Metals, eCobalt Solutions Inc., and Great Lakes Graphite

The Battery Series - Part 1The Battery Series - Part 2The Battery Series - Part 3The Battery Series - Part 4The Battery Series - Part 5

The Battery Series: The Evolution of Battery Technology

The Battery Series - Part 1The Battery Series - Part 2The Battery Series - Part 3The Battery Series - Part 4The Battery Series - Part 5

Introduction to The Battery Series

Today, how we store energy is just as important as how we create it.

Battery technology already makes electric cars possible, as well as helping us to store emergency power, fly satellites, and use portable electronic devices.

But tomorrow, could you be boarding a battery-powered airplane, or living in a city powered at night by solar energy?

The Battery Series is a five-part infographic series that explores how batteries work, the players in the market, the materials needed to build batteries, and how future battery developments may affect the world. This is Part 1, which looks at the basics of batteries and the history of battery technology.

Sponsors
Nevada Energy Metals
eCobalt Solutions Inc.
Great Lakes Graphite

Battery Basics

Batteries convert stored chemical energy directly into electrical energy. Batteries have three main components:

(-) Anode:The negative electrode that gets oxidized, releasing electrons

(+) Cathode: The positive electrode that is reduced, by acquiring electrons

Electrolyte: The medium that provides the ion transport mechanism between the cathode and anode of a cell. It can be liquid or solid.

At the most basic level, batteries are very simple. In fact, a primitive battery can even be made with a copper penny, galvanized nail (zinc), and a lemon or potato.

The Evolution of Battery Technology

While creating a simple battery is quite easy, the challenge is that making a good battery is very difficult. Balancing power, weight, cost, and other factors involves managing many trade-offs, and scientists have worked for hundreds of years to get to today’s level of efficiency.

Here’s a brief history of how batteries have changed over the years:

Voltaic Pile (1799)

Italian physicist Alessandro Volta, in 1799, created the first electrical battery that could provide continuous electrical current to a circuit. The voltaic pile used zinc and copper for electrodes with brine-soaked paper for an electrolyte.

His invention disproved the common theory that electricity could only be created by living beings.

Daniell Cell (1836)

About 40 years later, a British chemist named John Frederic Daniell would create a new cell that would solve the “hydrogen bubble” problem of the Voltaic pile. This previous problem, in which bubbles collected on the bottom of the zinc electrodes, limited the pile’s lifespan and uses.

The Daniell cell, invented in 1836, used a copper pot filled with copper sulfate solution, which was further immersed in an earthenware container filled with sulfuric acid and a zinc electrode.

The Daniell cell’s electrical potential became the basis unit for voltage, equal to one volt.

Lead-acid (1859)

The lead-acid battery was the first rechargeable battery, invented in 1859 by French physicist Gaston Planté.

Lead-acid batteries excel in two areas: they are very low cost, and they also can supply high surge currents.
This makes them suitable for automobile starter motors even with today’s technology, and it’s part of the reason $44.7 billion of lead-acid batteries were sold globally in 2014.

Nickel Cadmium (1899)

NiCd batteries were invented in 1899 by Waldemar Jungner in Sweden. The first ones were “wet-cells” similar to lead-acid batteries, using a liquid electrolyte.

Nickel Cadmium batteries helped pave the way for modern technology, but they are being used less and less because of cadmium’s toxicity. NiCd batteries lost 80% of their market share in the 1990s to batteries that are more familiar to us today.

Alkaline Batteries (1950s)

Popularized by brands like Duracell and Energizer, alkaline batteries are used in regular household devices from remote controls to flashlights. They are inexpensive and typically non-rechargeable, though they can be made rechargeable by using a specially designed cell.

The modern alkaline battery was invented by Canadian engineer Lewis Urry in the 1950s. Using zinc and manganese oxide in the electrodes, the battery type gets its name from the alkaline electrolyte used: potassium hydroxide.

Over 10 billion alkaline batteries have been made in the world.

Nickel-Metal Hydride (1989)

Similar to the rechargeable NiCd battery, the NiMH formulation uses a hydrogen-absorbing alloy instead of toxic cadmium. This makes it more environmentally safe – and it also helps to increase the energy density.

NiMH batteries are used in power tools, digital cameras, and some other electronic devices. They also were used in early hybrid vehicles such as the Toyota Prius.

The development of the NiMH spanned two decades, and was sponsored by Daimler-Benz and Volkswagen AG. The first commercially available cells were in 1989.

Lithium-Ion (1991)

Sony released the first commercial lithium-ion battery in 1991.

Lithium-ion batteries have high energy density and have a number of specific cathode formulations for different applications.

For example, lithium cobalt dioxide (LiCoO2) cathodes are used in laptops and smartphones, while lithium nickel cobalt aluminum oxide (LiNiCoAlO2) cathodes, also known as NCAs, are used in the batteries of vehicles such as the Tesla Model S.

Graphite is a common material for use in the anode, and the electrolyte is most often a type of lithium salt suspended in an organic solvent.

The Rechargeable Battery Spectrum

There are several factors that could affect battery choice, including cost.

However, here are two of the most important factors that determine the fit and use of rechargeable batteries specifically:

Think of specific energy as in the amount of water in a tank. It’s the amount of energy a battery holds in total.

Meanwhile, specific power is the speed at which that water can pour out of the tank. It’s the amount of current a battery can supply for a given use.

And while today the lithium-ion battery is the workhorse for gadgets and electric vehicles – what batteries will be vital to our future? How big is that market?

Find out in the rest of the Battery Series. (Parts 2 through 5 will be released throughout the summer of 2016).

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Technology

Which Streaming Service Has the Most Subscriptions?

From Netflix and Disney+ to Spotify and Apple Music, we rank the streaming services with the most monthly paid subscriptions.

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Streaming Service Subscriptions 2020 - Share

Which Streaming Service Has The Most Subscriptions?

Many companies have launched a streaming service over the past few years, trying to capitalize on the digital media shift and launching the so-called “streaming wars.”

After Netflix grew from a small DVD-rental company to a household name, every media company from Disney to Apple saw recurring revenues ripe for the taking. Likewise, the audio industry has long-since accepted Spotify’s rise to prominence, as streaming has become the de facto method of consumption for many.

But it was actually the unexpected COVID-19 pandemic that solidified the foothold of digital streaming, with subscription services seeing massive growth over the last year. Although it was expected that many new services would flounder along the way, media subscription services saw wide scale growth and adoption almost across the board.

We’ve taken the video, audio, and news subscription services with 5+ million subscribers to see who came out on top—and who has grown the most quickly—over the past year. Data comes from the FIPP media association as well as individual company reports.

Streaming Service Giants: Netflix and Amazon

The top of the streaming giant pantheon highlights two staples of business: the first-mover advantage and the power of conglomeration.

With 200+ million global subscribers, Netflix has capitalized on its position as the first and primary name in digital video streaming. Though its consumer base in the Americas has begun to plateau, the company’s growth in reach (190+ countries) and content (70+ original movies slated for 2021) has put it more than 50 million subscribers ahead of its closest competition.

The story is the same in the audio market, where Spotify’s 144 million subscriber base is more than double that of Apple Music, the next closest competitor with 68 million subscribers.

Meanwhile, Amazon’s position as the second most popular video streaming service with 150 million subscribers might be surprising. However, Prime Video subscriptions are included with membership to Amazon Prime, which saw massive growth in usage during the pandemic.

ServiceTypeSubscribers (Q4 2020)
NetflixVideo203.7M
Amazon Prime VideoVideo150.0M
SpotifyAudio144.0M
Tencent VideoVideo120.0M
iQIYIVideo119.0M
Disney+Video94.9M
YoukuVideo90.0M
Apple MusicAudio68.0M
Amazon Prime MusicAudio55.0M
Tencent Music (Group)Audio51.7M
ViuVideo41.4M
Alt BalajiVideo40M
HuluVideo38.8M
Eros NowVideo36.2M
Sirius XmAudio34.4M
YouTube PremiumVideo/Audio30M
Disney+ HotstarVideo18.5M
Paramount+Video17.9M
HBO MaxVideo17.2M
Starz/StarzPlay/PantayaVideo13.7M
ESPN+Video11.5M
Apple TV+Video10M
DAZNVideo8M
DeezerAudio7M
PandoraAudio6.3M
New York TimesNews6.1M

Another standout is the number of large streaming services based in Asia. China-based Tencent Video (also known as WeTV) and Baidu’s iQIYI streaming services both crossed 100 million paid subscribers, with Alibaba’s Youku not far behind with 90 million.

Disney Leads in Streaming Growth

But perhaps most notable of all is Disney’s rapid ascension to the upper echelons of streaming service giants.

Despite Disney+ launching in late 2019 with a somewhat lackluster content library (only one original series with one episode at launch), it has quickly rocketed both in terms of content and its subscriber base. With almost 95 million subscribers, it has amassed more subscribers in just over one year than Disney expected it could reach by 2024.

ServiceTypePercentage Growth (2019)
Disney+VideoNew
Apple TV+VideoNew
Disney+ HotstarVideo516.7%
ESPN+Video475.0%
Starz/StarzPlay/PantayaVideo211.4%
Paramount+Video123.8%
HBO MaxVideo115.0%
Amazon Prime VideoVideo100.0%
Alt BalajiVideo100.0%
YouTube PremiumVideo/Audio100.0%
DAZNVideo100.0%
Eros NowVideo92.6%
Amazon Prime MusicAudio71.9%
Tencent Music (Group)Audio66.8%
New York TimesNews60.5%
SpotifyAudio44.0%
HuluVideo38.6%
ViuVideo38.0%
NetflixVideo34.4%
Tencent VideoVideo27.7%
iQiyiVideo19.0%
Sirius XmAudio17.4%
Apple MusicAudio13.3%
YoukuVideo9.6%
PandoraAudio1.6%
DeezerAudio0%

The Disney+ wave also spurred growth in partner streaming services like Hotstar and ESPN+, while other services with smaller subscriber bases saw large growth rates thanks to the COVID-19 pandemic.

The lingering question is how the landscape will look when the pandemic starts to wind down, and when all the new players are accounted for. NBCUniversal’s Peacock, for example, has reached over 30 million subscribers as of January 2021, but the company hasn’t yet disclosed how many are paid subscribers.

Likewise, competitors are investing in content libraries to try and make up ground on Netflix and Disney. HBO Max is slated to start launching internationally in June 2021, and ViacomCBS rebranded and expanded CBS All Access into Paramount+.

And international growth is vital. Three of the top six video streaming services by subscribers are based in China, while Indian services Hotstar, ALTBalaji, and Eros Now all saw surges in subscriber bases, with more room left to grow.

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How Do Esports Companies Compare with Sports Teams?

With some esports companies more valuable than traditional sports teams, we visualize esports vs sports in franchise value.

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How Do Esports Companies Compare with Sports Teams?

Are esports on the same level as “real” sports? These comparisons range from tricky to subjective, but the monetary value of companies speak for themselves.

The world’s largest esports companies have definitely risen to the occasion. Valued at almost half-a-billion dollars, they’ve started to pass some sports franchises in value.

In the above graphic, we compare Forbes’ valuation of the top 10 esports companies in 2020 against median franchises in the “Big Four” major leagues (NFL, MLB, NBA, and NHL). Despite competitive gaming’s rapid growth, there’s still a long way left to go.

Esports Impress but NFL Teams Reign Supreme

The world’s top esports companies have grown quickly, and impressively.

As of 2018, there was only one esports company worth more than $300 million in valuation. By 2020, four of the top 10 were valued at more than $300 million.

Esports CompanyGames with FranchisesValue (2020)
TSMLeague of Legends$410M
Cloud9League of Legends, Overwatch$350M
Team LiquidLeague of Legends$310M
FaZe ClanCall of Duty$305M
100 ThievesLeague of Legends, Call of Duty$190M
Gen.GLeague of Legends, Overwatch, NBA 2K$185M
Enthusiast GamingCall of Duty, Overwatch$180M
G2 EsportsLeague of Legends$175M
NRG EsportsCall of Duty, Overwatch$155M
T1League of Legends$150M

When compared to traditional sports valuations, esports companies have already reached major league hockey status.

TSM, the world’s most valuable esports company in 2020, has a higher valuation than five NHL franchises. In fact, four esports companies were estimated to be more valuable than two NHL franchises, the Florida Panthers and Arizona Coyotes.

But other sports leagues are further away. While the median value of an NHL franchise in 2020 was $520 million, the MLB, NBA, and NFL all saw median values of over $1.6 billion.

Esports vs. Sports FranchisesLowest Valued TeamHighest Valued TeamMedian
NFL$2.0B$5.7B$3.0B
NBA$1.3B$4.6B$1.8B
MLB$980M$5.0B$1.6B
NHL$285M$1.6B$520M
Esports (Top 10)$150M$410M$188M

Differences in Esports vs Sports Structures and Growth

Try as we might to make a clean apples-to-apples comparison between esports and traditional sports teams, there are significant differences in the business models to consider.

For starters, major esports companies own multiple franchises and non-franchise teams across many games. Cloud9 owns both the eponymous Cloud9 League of Legends franchise and the London Spitfire Overwatch franchise, for example, as well as non-franchise teams in Halo, Counter Strike: Global Offensive, Fortnite, and other games.

The revenue streams for esports companies are also extremely varied. Companies like TSM, 100 Thieves, FaZe Clan and Enthusiast Gaming made 50% or more of their revenue from outside of esports, having instead expanded into diverse companies with an equal focus on content creation and apps.

But it’s this greater ability to diversify, and the still-increasing size of esports fandom, that continues to grow esports valuations. In fact, TSM’s estimated 2020 revenue of $45 million is less than half of the Arizona Coyotes’ estimated revenue of $95 million, despite a $100+ million valuation difference in favor of TSM.

That’s why the continued maturation of esports is only going to make traditional sports comparisons easier, and closer. Instead of having to pit companies against franchises, direct league-to-league comparisons will be possible, and the differences will likely shrink from billions to millions.

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