Farmington, May 08, 2023 (GLOBE NEWSWIRE) -- The Global Micro Battery Market size was valued at USD 326 billion in 2022 and is projected to reach USD 1488.09 billion by 2030, growing at a CAGR of 20.90% from 2023 to 2030. It is increasingly being used to monitor electrical energy use in these countries. Smart meters can record how much electricity a factory or home consumes and send the information to the electricity provider for billing purposes. Growing demand for smart meters is more likely to boost the micro battery market growth as the batteries are commonly used to power these smart meters.
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.
Segmentation Overview:
Type Outlook:
It is expected that the non-rechargeable part of the market will have the largest share. Micro batteries that don't need to be recharged are cheaper because they last longer. The market for rechargeable batteries is expected to grow faster than the market for non-rechargeable batteries. As the number of smart watches, wearables, medical devices, and other consumer gadgets goes up, so will the need for rechargeable micro batteries.
Application Outlook:
The smart cards industry has taken a large share of the market's income. Smart cards are being used more and more in a wide range of industries. This is because they are safer, easier to use, and can be automated, among other things. During the time frame of the projection, the medical devices sector is expected to grow much faster than the other sectors. This is because IoT is being used more and more in medical devices, and innovations are being made in the field of diagnostic medical devices.
Regional Analysis:
Asia Pacific is predicted to witness the fastest growth rate of any other region. Growing consumer electronics industry in the region as manufacturers increase and the demand for home appliances in the region increases. The increase in per capita income has increased the spending power of consumers in the region. The tech savvy young adult population in the region is also expected to positively impact the growth of the micro battery market in the region.
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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 1488.09 billion |
| By Type |
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| By Application |
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| By Material |
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| By End User |
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| By Companies |
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| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Driver:
The Internet of Things (IoT) provides network connectivity with the help of physical objects that utilize software and sensors to pass data and exchange data with other connected devices. With the decreasing power requirements of semiconductor and IoT applications that are experiencing rapid growth, many players are looking for flexible form factors to power distributed electronic devices. Applications such as smart cards, sensors, wireless sensor nodes, smart labels, RFID tags, and packaging require flexibility and thinness to efficiently exchange data. IoT uses traditional batteries to power the network.
Restraint:
While micro batteries have unique advantages that allow them to outperform conventional batteries in many applications, they also have several drawbacks that are expected to limit their adoption in some applications. Because these batteries are smaller, they consume more power and require frequent charging for long-term use. Although they offer a variety of features and specifications, ultra-small batteries cannot deliver a high power, unlike conventional batteries.
Opportunity:
Smart textiles, also known as e-textiles, are printed fabrics that sense physiological parameters such as blood pressure, heart rate, and body temperature and regulate the temperature of clothing accordingly. This fabric is gaining popularity in the fitness and sports industry. A new generation of smart textiles can sense, respond to and adapt to different environmental conditions. The growing popularity of smart textiles has created a demand for printed battery solutions.
Challenge:
Thin-film batteries have several unique features such as high flexibility, lightweight, easy portability, higher power retention capacity, and superior energy density. However, manufacturing these batteries is more challenging than conventional rechargeable lithium-ion batteries.Thus, the complexity of manufacturing thin-film lithium-ion batteries acts as a key challenge for market growth.
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.
By Deployment Type
- Rechargeable
- Non-rechargeable
By Application
- Smart cards
- Wireless sensors
- Wearable devices
- Medical devices
- Other
By Material
- Silver oxide
- Alkaline
- Lithium
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
Check out more related studies published by Contrive Datum Insights:
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- Green Fertilizers Market - The global Green Fertilizers Market was valued at USD 2,145.73 Million in 2022 and is projected to reach USD 3,332.26 Million by 2030, growing at a CAGR of 4.5% from 2023 to 2030.
- Battery Manufacturing Equipment Market- The global Battery Manufacturing Equipment Market size was evaluated at USD 3.42 Billion in 2022 and is projected to hit around USD 30.84 Billion by 2030, growing at a CAGR of 31.63% from 2023 to 2030.
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About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
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