The global micro batteries industry is predicted to raise from USD 128.5 million in the year 2020 to USD 631.3 million by 2025, with a current CAGR of close to 31% between 2020 and 2025. The expansion of this market will be driven by the expansion in adoption of wearable devices, the inherent benefits of micro batteries, the need for compact batteries in medical devices, and the growing call for thin and flexible batteries in IoT devices. The expansion of this market can be attributed to the inherent advantages that micro batteries offer. The micro battery is known as a thin film battery, a combination of two or more electrochemical cells. These cells can convert chemical energy into electrical energy. It is a small, single-cell battery made up of metal components to protect the body against wire or circuit breakage. This lightweight, flexible and compact battery offers several benefits such as customization services to customers by adapting to any product based on their convenience, shapes and sizes without any loss of efficiency. Micro batteries are lightweight, flexible and compact and provide customized services without any loss of product efficiency using these batteries. Tubular micro-batteries are among the micro-batteries that last the longest and store large amounts of energy. Also, these batteries are employed as micro USB rechargeable battery which can charge cell phones effectively. In addition, the micro battery is also employed as a lithium microcell commonly employed in small electronic devices and watches.
The development in the application of micro batteries in residential, commercial, automotive, consumer electronics and others is predicted to drive the expansion of the global micro batteries market during the foreseen period. The strong increase in the adoption of wearable devices, smart cards, medical devices and wireless communication sensors is also contributing to the expansion of the market. Additionally, micro-battery stores are renewable energy sources that make the power supply fluid and predictable. Therefore, the escalating complexity of conventional battery technologies is leading people to turn to advanced and energy-efficient battery solutions, driving market call for micro batteries around the world.
Recent Developments and Trends
Micromax Bharat 5 launched in India is the latest low-cost 4G smartphone from the national brand. Apart from its low price, the biggest advantage of the Bharat 5 is its huge 5000 mAh battery. There is also a bundled data offering, announced in partnership with Vodafone.
Varta Micro battery will launch three new lithium-ion cells for wearable devices at ISPO Munich 2019. Athletes and sports enthusiasts highly rely on smart wearable devices to monitor or improve their performance. Wearable devices and wearable devices are now widely employed as useful training tools for many different sports.
Micro Battery Market Drivers
A key driver of the global micro battery market is the growing adoption of IoT in medical devices. The healthcare industry is focused on adopting high-tech solutions due to the escalating level of chronic diseases and an aging population around the world. The escalating penetration of wearable electronic devices and advanced medical devices is translating into better patient outcomes and lower healthcare costs. Thus, the need for micro-batteries in medical devices is escalating to reduce the size of the devices. Since a micro battery is an important source of energy for smart meters, the escalating call for smart meters will also drive the call for micro batteries. Factors contributing to the expansion of the market include the rising use of compact batteries in the healthcare industry, and the escalating adoption of wearable devices. The other main factors driving the expansion of the worldwide micro-battery industry are the inherent advantages of solid-state micro-batteries, the expansion in the adoption of portable devices, and the need for compact batteries in medical devices.
Nevertheless, high initial price and lack of standardized infrastructure hamper the micro battery industry expansion.
A smart meter is employed to record electrical energy consumption and allows the information to be communicated to the electricity supplier for monitoring and billing. Due to the escalating investments of various governments like UK, India and the US for the use of smart meters, it leads to the expansion of the smart meter market. Additionally, the escalating adoption of wireless sensors in various verticals offers lucrative opportunities for the market to prosper. The micro battery market is predicted to grow during the foreseen period due to drivers such as emerging markets for wearable devices coupled with the escalating applicability of compact batteries in medical devices. Furthermore, the growing call for slim batteries in IoT devices is likely to further drive the expansion of the micro battery market. Moreover, the escalating adoption of wireless sensors and the development of smart textiles offer lucrative opportunities for the micro battery market and the key players involved.
The technical limitations of micro batteries and high capital investments are predicted to slow the expansion of the micro battery market.
Micro Battery Market Segmentation:
Based on the type, the thin film battery segment is predicted to have the largest market share in 2025. Thin film batteries are manufactured using all the solid-state materials and inorganic glass electrolytes, through which these batteries they are inherently safer than the conventional batteries present in solid-state.
A smart card, also known as a power card, requires a separate power supply. The micro battery built into the smart card is generally removed with the smart card at the end of its useful life.
Micro Battery Regional Analysis:
The Micro Battery Report includes the segmentation of Regions with their respective Countries.
North America Micro Battery Industry includes U.S, Canada.
Europe Micro Battery Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.
Asia Pacific Micro Battery Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.
Latin America Micro Battery Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.
Middle East & Africa Micro Battery Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.
APAC occupied the majority of the micro-battery market in 2019. In addition to APAC, the North American region also has a significant market share. Asia-Pacific has the largest micro-battery market share due to technological advancements in smart packaging and, in the healthcare sector, the growing call for medical devices, mainly pacemakers, heart rate systems, drug delivery and medical patches call for micro batteries increases in the area.
In recent years, major players in the micro battery market have focused on adopting advanced technologies to improve the efficiency of their products. Major players are also focusing on product launches and mergers and acquisitions to increase their product portfolios.
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.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Micro Battery Market, By Type
6.1.1 Thin Film
6.1.3 Solid-State Chip Battery
6.1.4 Market Size Estimations & Forecasts (2019-2024)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Micro Battery Market, By Application
6.2.1 Smart Cards
6.2.2 Smart Packaging
6.2.3 Medical Devices
6.2.4 Wearable Devices
6.2.5 Market Size Estimations & Forecasts (2019-2024)
6.2.6 Y-o-Y Growth Rate Analysis
6.2.7 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Application
7.3.1 By Country
22.214.171.124 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
126.96.36.199 South Korea
188.8.131.52 South East Asia
184.108.40.206 Australia & NZ
220.127.116.11 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
18.104.22.168 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
22.214.171.124 Middle East
7.6.2 By Type
7.6.3 By Application
8. Key Player Analysis
8.1 Cymbet Corporation
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 STMicroelectronics N.V
8.3 Samsung SDI Co., Ltd
8.4 Enfucell Oy Ltd
8.5 BrightVolt Inc
8.6 Power Paper Ltd
8.7 Front Edge Technology, Inc
8.8 Panasonic Corporation
8.9 TDK Corporation
8.10 Ultralife Corporation
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures