DUBLIN--(BUSINESS WIRE)--The "Micro Battery Market by Type (Thin Film, Printed, Solid State Chip Battery), Capacity, Rechargeability, Application (Smart Cards, Smart Packaging, Medical Devices, Wearable Devices), and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The micro battery market was valued at USD 107.6 million in 2018 and is expected to reach USD 631.2 million by 2025, at a CAGR of 30.4% between 2019 and 2025.
The market registered a shipment of 21.3 million units in 2018 and is expected to witness a shipment of 396 million units by 2025, at a CAGR of 53.8% during the forecast period.
This research report categorizes the micro battery market based on type, capacity, rechargeability, application, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to this market, as well as the value chain and market ranking analyses. The report profiles the key players in the micro battery market and analyzes their market rankings.
Growing adoption of wearable devices is propelling growth of micro battery market
The application areas of wearable devices are growing from consumer electronics and medical devices to wireless communication devices.
The market for wearable technology is witnessing increasing product innovation with new product launches and developments. These come in many shapes and forms, and most wearable applications require ultra-thin durable batteries, creating a huge market potential for micro batteries.
However, the technical inabilities of micro battery in terms of energy density and capacity, and lack of standardization in the development of these batteries are major factors restraining the micro battery market's growth.
Micro battery market to be driven by secondary batteries during forecast period
The secondary battery segment is expected to hold a significant share of the micro battery market during the forecast period. Rechargeable batteries with long lifespan are used in wearable devices, medical devices, wireless sensor nodes, and consumer electronics, among others.
With the advancement in technologies used in wearable devices and medical devices, manufacturers are continuously making efforts to come up with innovative designs suitable for their devices. This, in turn, is increasing the need for bendable, flexible, and high-capacity rechargeable batteries that can last long. Therefore, the demand for secondary micro batteries in the aforementioned applications is high and is expected to increase rapidly during the forecast period.
Printed battery expected to grow at significant CAGR during forecast period
The printed battery market is expected to witness significant growth during the forecast period. Printed batteries are a newer type of micro batteries. They are mostly built from zinc-based materials.
Advantages such as thin size, small form factor, and ability to be disposed of easily have made printed batteries popular in the smart packaging and medical application markets. Recent technological advancements in printed batteries are also expected to fuel their demand.
Micro battery market in APAC to witness highest growth rate in coming years
The micro battery market in APAC is expected to grow at the highest CAGR from 2019 to 2025. The market in APAC mainly comprises developing economies, such as China and India, which have a huge potential for the micro battery.
Increasing demand for IoT and portable consumer electronic devices in countries such as China, Japan, and South Korea is driving the market for micro battery in APAC. In this region, the popularity of next-generation smart cards is rapidly increasing. This has, in turn, led to the growth in demand for micro batteries to be integrated into the smart cards as power sources.
The market for micro battery in APAC is expected to grow due to the demand for smart packaging, wearable devices, and consumer electronics from major countries in this region.
- Inherent Advantages of Micro Batteries
- Growth in the Adoption of Wearable Devices
- Need for Compact Batteries in Medical Devices
- Demand for Thin and Flexible Batteries in IoT Devices
- Technical Inabilities of Micro Batteries
- High Capital Investment
- Lack of Standardization in the Development of Micro Batteries
- Integration of Micro Batteries in Smart Textiles
- Rise in the Adoption of Wireless Sensors
- Complex Design Process
- High Competition From Conventional Battery Technologies
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Components of Micro Battery
7 Micro Battery Market, By Type
8 Micro Battery Market, By Rechargeability
9 Micro Battery Market, By Capacity
10 Micro Battery Market, By Application
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
- Blue Spark Technologies
- Energy Diagnostics Limited
- Front Edge Technology
- Guangzhou Fullriver Battery
- Imprint Energy
- Iten S.A.
- NEC Energy Solutions
- Polyplus Battery
- Power Paper
- Prologium Technology Co. Ltd.
- Samsung SDI
For more information about this report visit https://www.researchandmarkets.com/r/4qcgaq