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Northrook, IL -- (SBWIRE) -- 04/08/2020 -- The overall micro battery market is estimated to grow from USD 128 million in 2019 to USD 631 million by 2025, at a CAGR of 30.4% between 2019 and 2025.
The growth of this market will be propelled by growth in the adoption of wearable devices, inherent advantages of micro batteries, need for compact batteries in medical devices, and increasing demand for thin and flexible batteries in IoT devices.
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Micro Battery 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 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.
Micro batteries with a capacity between 10 mAh and 100 mAh to witness the highest CAGR during the forecast period.
Based on capacity, the between 10 mAh & 100 mAh segment of the micro battery market is expected to grow at the highest rate during the forecast period. Micro batteries with a capacity between 10 mAh and 100 mAh are of both thin film and printed battery types. They are majorly used in applications such as smart cards, skin patches, wearable devices, medical devices, and e-textiles.
Smart cards application to account for the largest market share during the forecast period.
A smart card, which is also known as a power card, requires a self-contained power source. The micro battery integrated with the smart card is usually disposed of along with the smart card at the end of its lifespan. Therefore, the major deployment of single-use batteries in smart cards is expected to drive the market for single-use thin film, printed, and solid state chip batteries during the forecast period. This creates a huge potential for micro batteries in the smart cards application.
APAC to dominate the micro battery market during the forecast period
APAC held the largest share of the micro battery market in 2018. 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.
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Key Market Players
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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