According to the new market research report "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", the global micro battery market is estimated to be USD 128 million in 2019 and is projected to reach USD 631 million by 2025, at a CAGR of 30.4% between 2019 and 2025. The growth of this market can be attributed to the inherent advantages offered by micro batteries. Some of the major benefits of micro batteries includeflexibility, safety, high energy density, lightweight, longer lifespan, as well as low cost. These factors have helped the micro battery market gain traction in applications such as smart cards, smart packaging, medical devices, and wearable devices, as well as penetrate application areas such as smart textiles and wireless sensors.
Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=25755945
Thin film battery held largest share of micro battery market in 2018
The micro battery market, based on type, is led by the thin film battery segment (in terms of size). Micro batteries are preferred for use in miniature devices. Manufacturers designing portable products with limited internal space prefer to use micro batteries over conventional batteries to overcome safety concerns and to increase battery life. Thin film batteries are widely used in applications such as smart packaging, smart cards, wearable devices, and medical devices. The trend of miniaturization in products used in these applications has increased the demand for thin film lithium-ion batteries, thus driving the growth of the thin film battery market significantly.
Market for wearable devices application likely to grow at highest CAGR during forecast period
The market for the wearable devices application is expected to witness the highest CAGR during the forecast period. The increasing demand for intelligent smartwatches and fitness bands has given rise to the development of innovative product designs and the adoption of related components that are compact and flexible in nature. Most of the wearable devices require batteries that have a high capacity, can be recharged at a fast rate, and are long-lasting. These requirements are opening doors for the applications of micro batteries in wearable devices. Incorporating micro batteries not only makes the devices lightweight but also meets the other critical requirements of the devices, such as energy density, power capacity, and increased life cycle.
APAC accounts for largest market size during forecast period
APAC held the largest share of the micro battery market in 2018, followed by North America and Europe. Major manufacturers of wearable devices and consumer electronics in this region are miniaturizing their product designs, which require micro power sources for compatibility with the miniaturized designs. Also, technology advancements in smart packaging (such as the use of printed RFID tags and smart labels in packages), as well as the adoption of medical devices, mainly pacemakers, drug delivery systems, and medical patches, which require lightweight, flexible, and safe power sources, are fueling the market growth of micro batteries in the APAC region.
Cymbet Corporation (US), STMicroelectronics N.V. (Switzerland), Samsung SDI Co., Ltd. (South Korea), Enfucell Oy Ltd. (Finland), BrightVolt Inc. (US), Power Paper Ltd. (Israel), ProLogium Technology Co., Ltd. (Taiwan), Front Edge Technology, Inc. (US), PolyPlus Battery Co. Inc. (US), Panasonic Corporation (Japan), TDK Corporation (Japan), Blue Spark Technologies, Inc. (US), NEC Energy Solutions Inc. (US), Jenax Inc. (South Korea), Ultralife Corporation (US), and Molex (US) are some of the major players operating in this market.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments:
Post a Comment