Bridging the Gap: Micro Battery Market Propel Growth in IoT Devices
With a strong compound annual growth rate (CAGR) of 22.4%, the worldwide Micro Battery Market is expected to develop significantly from USD 0.5 billion in 2023 to USD 1.3 billion by 2028.
Numerous causes, such as the growing need for small power sources with a wide range of applications and technological developments in micro battery design, are driving this growth trajectory. The market includes a range of micro battery types that each serve different purposes, including printed, thin film, solid-state chip, and button cells. To accommodate varying energy needs, the capacity categories—below 10 mAh, 10 to 100 mAh, and above 100 mAh—are included in the classification. Applications for smart cards and wireless sensors show how microbatteries are becoming more and more integrated into small, portable electronics.
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The need for sophisticated healthcare infrastructure is being driven by the growing use of Medical Internet of Things (IoT) devices, especially in developing nations like China and India. Micro batteries are becoming more and more popular in this context, particularly because of their incredibly thin design, which goes well with the small and complex architecture of medical devices. Microbatteries have gained popularity because of their thin-film properties and flexibility, which make them the best option for incorporation into medical equipment. These batteries' incredibly small and flexible structure not only complies with design specifications but also enables producers to improve the overall effectiveness of medical equipment.
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The market for printed battery segment is expected to grow at a significant CAGR during the forecast period.
Throughout the projection period, the printed battery market is expected to increase significantly due to a number of important aspects. Zinc dioxide, manganese dioxide, zinc chloride, and carbon zinc are among the elements that set printed batteries apart from other types of batteries. Especially, these materials are less expensive than the lithium chemistries used in thin-film and traditional batteries. Using screen printing technology, electrodes are printed on a paper or plastic film substrate during the production process, and then electrolytes are laminated between the electrodes. Printed batteries can take on a variety of shapes thanks to this flexible production technique, which meets the unique needs of customised flexible electronics. Because of their non-volatile and non-toxic characteristics, they are especially well-suited for bioelectronic applications such as implanted medical devices, which guarantee safety.
The smart packaging application is projected to grow at an impressive CAGR from 2023 to 2028.
From 2023 to 2028, the smart packaging application is expected to increase at an outstanding Compound Annual Growth Rate (CAGR). Radio-frequency identification (RFID) tags, smart labels, anti-theft tags, sensors, displays, circuits, and disposable batteries are only a few printed electronic items that fall under the category of smart packaging. Packaging solutions are in high demand because they have a direct influence on what consumers decide to buy. Packaging producers use printed and thin power sources to add interactive media, sound, and display text to item-level packaging and point-of-sale displays to increase customer interaction. RFID tags and smart labels are also essential for security, tracking inventories, and delivering product information.
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North America is expected to hold a significant share of the Micro Battery Market during the forecast period.
With the market divided into the US, Canada, and Mexico, North America is expected to occupy a sizable proportion of the micro battery market during the course of the projected period. Many North American firms are currently developing tiny batteries specifically for use in medical devices, wearable technology, smart cards, smart packaging, and wireless sensors. The growing need for wearable and medical technology is driving the micro battery market in the region, and improvements in the packaging sector are enabling products to include smart labels, RFID tags, and clever sensors. The market for thin-film and printed batteries is expected to grow as smart packaging—which depends on printed thin batteries—becomes more common. Additional factors that are anticipated to contribute to the increased demand for thin-film and printed batteries in North America include the trend towards miniaturisation in wireless devices and the growing adoption of the Internet of Things (IoT) in medical devices.
The major players in this market include Cymbet Corporation (US), Enfucell (Finland), Ultralife Corporation (US), Molex, LLC (US), Panasonic Holdings Corporation (Japan), Murata Manufacturing Co., Ltd. (Japan), TDK Corporation (Japan), Maxell, Ltd. (Japan), VARTA AG (Germany), Renata SA (Switzerland), and Duracell Inc. (US) among others.
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