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.
Market for thin film battery expected to grow at a high rate during the forecast period
The report covers the micro battery market segmented by type, capacity, rechargeability, application, and geographic region. Based on type, the thin film battery segment is expected to hold the largest share of the micro battery market by 2025. Thin film batteries are manufactured using all solid-state materials and inorganic glass electrolytes due to which these batteries are intrinsically safer compared to conventional batteries present in the solid state. Rechargeable thin film batteries have a higher demand as many devices and applications require rechargeable batteries with a long lifespan. Thin film batteries are used in application areas such as smart cards, RFID Tags, wearable devices, medical devices, and wireless sensors nodes.
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.
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