Lithium ion batteries have become a popular choice for countless devices due to their energy content and high power capability without extra weight or size when compared to other chemistry types. However, there are various factors to consider when designing a Li-ion battery into a device, and some of those considerations must include working voltage, capacity, load current, charge current, operating temperature, runtime, cost, and safety, which is most critical to the end-user. Continuous development in consumer electronics and industrial applications demand higher energy density as well as a safe and reliable portable energy source. According to MarketsandMarkets.com, the Lithium ion battery market is expected to grow to more than $92 billion by 2024.