Micro Battery Market Is Expected To Reach around USD 842 Million by 2030, Grow at a CAGR Of 20.9% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.
According to a market research study published by Contrive Datum Insights, during 2022 and 2030, North America is likely to have the largest share of the market.
Farmington, March 03, 2023 (GLOBE NEWSWIRE) — The Micro Battery Market value was marked at USD 326 Million in the year 2022 and is expected to surpass USD 842 Million by the year 2030, registering a CAGR of 20.9%. Several rich countries are working hard to use renewable energy sources to make electricity and for commercial or industrial purposes. Countries in Europe, Asia, and North America are using more and more solar energy to make electricity. It is used more and more to track how these countries use electricity. Smart metres can keep track of how much electricity a factory or home uses and send that information to the electricity provider so that the electricity provider can send a bill. The micro battery market is more likely to grow with the demand for smart metres, since micro batteries are often used to power smart metres.
Request Sample Copy of Report “Micro Battery Market Size, Share & Trends Estimation Report By Material (Silver Oxide, Alkaline, Lithium, Others), By Type (Rechargeable, Non-Rechargeable), By Application (Smart Cards, Wireless Sensors, Wearable Devices, Medical Devices, Others), By End-User (Robotics, Automotive, Healthcare, Consumer Electronics, Others), By Region, And Segment Forecasts, 2023 – 2030”, published by Contrive Datum Insights.
Key Market Updates:
- In June 2021, VARTA has partnered with Allgau Batterie, a Bavarian-based service provider operating in the battery charging industry, to expand its lithium-ion battery offering. The company also announced that the partnership will help provide battery solutions for a wide range of applications without lengthy design times.
- In March 2020, Enfucell launched a wearable temperature tag. This tag combines NFC, an intelligent temperature sensor, and SoftBattery (printed paper battery). The company also announced that the wearable body temperature tag could be attached to a person’s armpit or secured to the arm. After activation via the mobile app, users can set the time interval to record the temperature according to different needs. The tag can accurately record temperature data and read real-time location information, allowing administrators to accurately monitor targets.
Segment Overview
Material Insights
During the time period covered by the forecast, the lithium segment made a lot more money than the other segments. Lithium batteries are used in a wide range of consumer electronics because they have low discharge rates and can store a lot of energy in a small space.
Type Insights
Most people think that the part of the market that doesn’t need to be charged will have the biggest share. Because they don’t need to be charged as often, micro batteries that don’t need to be recharged are cheaper. The market for batteries that can be recharged is expected to grow faster than the market for batteries that can’t be recharged. As the number of smart watches, wearables, medical devices, and other consumer gadgets grows, so will the need for rechargeable micro batteries.
Application Insights
A big chunk of the market’s income comes from the smart card business. More and more industries are starting to use smart cards. This is because, among other things, they are safer, easier to use, and can be automated. The medical devices sector is expected to grow much faster than the other sectors during the time frame of the projection. This is because the Internet of Things (IoT) is being used more and more in medical devices, and diagnostic medical devices are getting better and better.
End-User Insights
The consumer electronics part of the market is likely to be the most important and make the most money. Every year, the size of consumer electronics shrinks. Because of this, it has become more important to find small, efficient power sources. Micro batteries are now a big part of the consumer electronics industry. More and more people are using medical devices that you can wear and other small medical devices. Because of these changes in technology in the healthcare sector, the healthcare segment is likely to grow faster than any other segment.
Regional Outlook:
Between 2022 and 2030, North America is likely to have the largest share of the market. In this area, it is clear that there are major companies in the electronics and medical device industries.
Asia-Pacific is expected to grow faster than any other part of the world. As more companies move into the area and more people want home appliances, the consumer electronics industry in the area is growing. The rise in per capita income has given people in the region more money to spend. Young adults in the area who know a lot about technology are also likely to help the micro battery market grow in the area.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 20.9% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 842 million |
| By Material | Silver oxide, Alkaline, Lithium, Others |
| By Type | Rechargeable, Non-rechargeable, Others |
| By Application | Smart cards, Wireless sensors, Wearable devices, Medical devices, Other |
| By End-User | Robotics, Automotive, Healthcare, Consumer electronics, Others |
| By Companies | Blue Spark Technologies, STMicroelectronics, Cymbet Corporation, Samsung SDI, Power Paper, Panasonic Corporation, Front Edge Technology, Inc., Imprint Energy, Inc., NEC Energy Solutions, Prologium Technology Co., Ltd |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Drivers:
The Internet of Things (IoT) makes it possible for physical objects to connect to networks by using software and sensors to send and receive data with other connected devices. With semiconductor power needs going down and IoT applications growing quickly, many players are looking for flexible form factors to power electronic devices that are spread out. Smart cards, sensors, wireless sensor nodes, smart labels, RFID tags, and packaging all need to be flexible and thin so they can exchange data as quickly as possible. IoT is powered by batteries that are already in use. But in many situations, the size of the battery in the device makes it hard for the sensor to work well. On the other hand, a thin, flexible battery uses the device’s power to keep it going. This battery gives the sensor power all the time, so it can store information for a longer time. Because of this, the Internet of Things (IoT) is likely to use thinner, flexible batteries. As a result, the micro-battery market is likely to grow.
Market Restraint:
Even though micro batteries have some unique benefits that make them better than regular batteries in many situations, they also have some drawbacks that are likely to keep them from being used in some situations. Because these batteries are smaller, they use more power and need to be charged more often if you want to use them for a long time. This limits the ways that micro batteries can be used. Their power is also based on how big they are. So, micro batteries don’t hold a lot of energy. Ultra-small batteries have a lot of different features and specs, but unlike regular batteries, they can’t deliver a lot of power.
Market Opportunities:
Smart textiles, also called e-textiles, are printed fabrics that can sense things like blood pressure, heart rate, and body temperature and adjust the temperature of clothing based on that information. In the fitness and sports industries, this fabric is becoming more and more popular. A new generation of smart textiles can sense their environment, react to it, and change to fit it. Smart textiles have flexible sensors and other parts like microcontrollers and control units built in to monitor and sense different environmental conditions. To power these built-in sensor devices, smart textiles need ultra-thin printed battery solutions. Because smart textiles are becoming more popular, there is a need for printed battery solutions.
Key Segments Covered:
Top Market Players:
Blue Spark Technologies, STMicroelectronics, Cymbet Corporation, Samsung SDI, Power Paper, Panasonic Corporation, Front Edge Technology, Inc., Imprint Energy, Inc., NEC Energy Solutions, Prologium Technology Co., Ltd, and others.
By Material
- Silver oxide
- Alkaline
- Lithium
- Others
By Type
- Rechargeable
- Non-rechargeable
- Others
By Application
- Smart cards
- Wireless sensors
- Wearable devices
- Medical devices
- Others
By End-User
- Robotics
- Automotive
- Healthcare
- Consumer electronics
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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