Tiny Giants: Micro Battery Market Shaping the Future of Tech
Based on forecasts, the Micro Battery Market is expected to increase at a phenomenal Compound Annual Growth Rate (CAGR) of 22.4%, from USD 0.5 billion in 2023 to USD 1.3 billion by 2028. The growing need for small and light power sources across a range of industries is driving this expansion. The demand for small and effective energy solutions is being driven by the rise in wearable technology, IoT applications, and portable electronic devices, which is fueling the micro battery market's growth. Technological developments and the focus on energy efficiency are two important elements driving the market's upward trajectory. A sizable market for microbatteries is emerging as a result of the growing demand for better healthcare infrastructure and the increasing uptake of Medical IoT devices in developing nations like China and India. Ultra-thin batteries are essential in the context of medical devices, where design is critical. Micro batteries are the best option for blending i