WASHINGTON, Feb. 09, 2022 (GLOBE NEWSWIRE) -- The Global Micro Battery Market size is expected to reach over USD 1084.76 million by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 19% during the forecast period from the year 2021 till 2028. The Market stood at a revenue of USD 321 million in the year 2021.
Market Synopsis
Increase in application of micro batteries in commercial, residential, consumer electronics, automotive, and others is likely to drive the growth of the market for micro battery during the forecast period. Increase in adoption of smart cards, wearable devices, wireless communication sensors, and medical devices also contribute to the growth of the market. Furthermore, micro battery stores are energy from renewable sources which makes the power supply predictable and smooth. Hence, rise in complexity from traditional battery technologies attracted people to change their preferences toward energy-efficient and advanced solutions batteries, which stimulated the demand for the market for micro battery across the world, states Vantage Market Research, in a report, titled “Micro Battery Market by Type (Button Battery, Thin-film Battery, Printed Battery, Solid-state Chip Battery), by Rechargeability (Primary Batteries, Secondary Batteries), by Capacity (Below 10 mAh, Between 10 mAh & 100 mAh, Above 100 mAh), by Application (Consumer Electronics, Medical Devices, Smart Packaging, Smart Cards), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List Of Prominent Players in the Micro Battery Market:
- Cymbet Corporation (US)
- Blue Spark Technologies (US)
- Front Edge Technology, Inc. (US)
- Enfucell Oy (Finland)
- Panasonic Corporation (Japan)
- Molex (US)
- TDK Corporation (Japan)
- Shenzhen Grepow Battery Co. Ltd. (China)
- VARTA AG (Germany)
- Ultralife Corporation (US)
- Seiko Instruments (Japan)
- Murata Manufacturing Co., Ltd. (Japan)
- Renata SA (Switzerland)
- Maxell Holdings Ltd. (Japan)
- Duracell Inc. (US)
Market Dynamics:
Driver: Demand for Flexible and Thin Batteries in Internet of Things (IoT) Applications
The IoT gives network connectivity with the assistance of physical objects in which sensors and software are utilized to deliver and exchange data with other devices which are connected. With the declining power requirement in IoT and semiconductors applications experiencing swift growth, many key players are looking for pliable form factors. Applications such as sensors, smart cards, RFID tags, smart labels, wireless sensor nodes, and packaging require thinness and flexibility to efficiently exchange data. IoT uses conventional batteries for power supply to the network. Moreover, in many applications, performance of sensor is hindered owing to the battery size which is embedded in the device. Flexible and thin batteries, on the other hand, gives services by accumulating device’s energy. These batteries provide a long shelf time to sensors since, they consistently power the sensors.
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Restraint: Technical Failures of Micro Batteries
Though these micro batteries have various advantages which enable them to outdo traditional batteries in various application areas, but it also comes with a few disadvantages which are likely to hamper their adoption in certain application fields. As these batteries are small, and power consumption comes faster, hence, requiring significant charges to make sure their use for long-term. This results in restricting the potential areas for application for micro batteries. Size of the batteries also concludes their power capacity. Hence, micro batteries have small energy density.
Regional Trends
Asia Pacific is likely to grow at a significant Compound Annual Growth Rate (CAGR) in the coming years. The key manufacturers of consumer electronics and wearable devices in this region are minimizing their product designs and need micro sources for power for compatibility with the minimized designs. Technological advancements (e.g., use of smart labels and printed RFID tags in packages), coupled with the adoption of medical equipment, mainly pacemakers, medical patches, and drug delivery systems which require flexible, safe, and lightweight power sources, are driving the growth of the market in the region.
Recent Developments
- June, 2021: VARTA partnered with Allgau Batterie, a Bavaria-based service provider that operates in the battery charging industry, to expand its lithium-ion battery offerings. The company also announced that this partnership would help it to offer battery solutions for a wide range of applications, without long design-in times.
- June, 2020: TDK Corporation launched a new packing unit for CeraCharge, the SMD technology solid-state rechargeable battery, in the compact size EIA 1812 (4.4 x 3.0 x 1.1 mm3). The packing unit (B73180A0101M199) includes 10 blister-packed CeraCharge batteries, which come in a vacuum-sealed plastic bag.
- March, 2020: Enfucell launched the wearable temperature tag. The tag combines NFC, intelligent temperature sensor, and SoftBattery (printed paper batteries). The company also announced that the wearable body temperature tag could be attached to the person’s armpit or fixed on the arm. After activation through a mobile app, users can set the time interval to record the temperature according to various needs. The tag can accurately record the temperature data and read real-time location information to help administrators precisely monitor the target person.
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COVID-19 Impact Analysis
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Micro Battery Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Micro Battery Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Browse Summary of this Research Report: https://www.vantagemarketresearch.com/blog/micro-battery-944859
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Micro Battery Market?
- How will the Micro Battery Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Micro Battery Market?
- What is the Micro Battery market drivers and restrictions?
- What will be the CAGR and size of the Micro Battery Market throughout the forecast period?
This market titled “Micro Battery Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 321 million |
| Projected Market Size in 2028 | USD 1084.76 million |
| CAGR Growth Rate | CAGR of 19% From 2022 - 2028 |
| Base Year | 2021 |
| Historic Years | 2016 – 2020 |
| Forecast Years | 2022 – 2028 |
| Segments Covered | Type • Button Battery • Thin-film Battery • Printed Battery • Solid-state Chip Battery Rechargeability • Primary Batteries • Secondary Batteries Capacity • Below 10 mAh • Between 10 mAh & 100 mAh • Above 100 mAh Application • Consumer Electronics • Medical Devices • Smart Packaging • Smart Cards • Wireless Sensor Nodes • Others |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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