Growing adoption of wearable devices is projected to fuel the growth of the global micro battery market at a CAGR of 17.51% during the forecast period 2023 to 2030

Market Research Future (MRFR) has published on the “Global Micro Battery Market”.

The Micro Battery market is estimated to register a CAGR of 17.51% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global Micro Battery market— Cymbet Corporation (US), Panasonic Corporation (Japan), STMicroelectronics (Switzerland), Enfucell Flexible Electronics Ltd (China), Blue Spark Technologies (US), Jenax Inc. (South Korea), Prologium technology Co. ltd (Taiwan), Front Edge Technology Inc. (US), Imprint Energy Inc. (US), Ultralife Corporation (US).

Market Highlights

The global micro battery market is accounted for to register a CAGR of 17.51% during the forecast period and is estimated to reach USD 7,886.52 million by 2030.

The growing adoption of wearable devices is indeed driving the micro battery market. Wearable devices, such as smartwatches, fitness trackers, and health monitoring devices, have become increasingly popular due to their ability to provide users with real-time data and insights about their health, fitness, and daily activities. However, these devices are typically small in size and require power sources that are also compact, lightweight, and capable of providing sufficient energy to operate the device for extended periods. This is where micro batteries come into play. Micro batteries are miniature-sized batteries with a small form factor that is suitable for powering small electronic devices like wearables. The growth of the wearable technology market has created a demand for these specialized micro batteries, driving innovation and advancements in battery technology.

Wearable devices are designed to be lightweight and unobtrusive, which requires batteries with a small size and specific shapes to fit within the device's design. Micro batteries are engineered to be compact, allowing them to be integrated seamlessly into wearables without adding excessive bulk.

Wearable devices need to operate for extended periods without requiring frequent recharging. Micro batteries are designed to have a high energy density, meaning they can store a significant amount of energy relative to their size. This ensures that wearables can function for longer durations between charges.

Wearable devices often require bursts of energy for activities like tracking movement, heart rate monitoring, and displaying notifications. Micro batteries are designed to deliver energy efficiently and support these intermittent high-power requirements, ensuring smooth and reliable performance.

Micro batteries often feature fast charging capabilities to reduce the downtime of wearable devices during charging cycles. This convenience aligns with the user expectations for wearable technology.

The increasing popularity of wearable devices across various consumer segments has led to a significant market size for micro batteries. This growth in demand encourages battery manufacturers to invest in research and development, leading to advancements in battery chemistry, capacity, and longevity.

Wearable devices are also being adopted for healthcare and medical purposes, such as continuous glucose monitoring and remote patient monitoring. These applications require reliable and long-lasting power sources, further driving the demand for high-quality micro batteries.

Segment Analysis

The global micro battery market has been segmented based on component, type, capacity, application, and region.

The global micro battery market segmentation, based on component has been segmented as electrodes, electrolytes, substrates, current collectors, and others. Among these, substrates is projected to dominate the global micro battery market revenue through the projected period as estimated by MRFR analysts. Micro batteries are designed to power small and compact devices such as wearables, Internet of Things (IoT) sensors, medical implants, and more. Substrates with advanced fabrication techniques allow for precise and intricate assembly of battery components in a smaller footprint, enabling the development of tinier and more lightweight micro batteries.

The global micro battery market segmentation, based on type has been segmented as thin film battery printed battery, solid state chip battery. Among these, solid state chip battery is projected to dominate the global micro battery market revenue through the projected period as estimated by MRFR analysts. Solid-state chip batteries can be manufactured in ultra-thin and compact designs, making them suitable for powering small-scale devices like wearables, IoT sensors, medical implants, and more. Their small size is ideal for applications where space is limited.

The global micro battery market segmentation, based on capacity has been segmented as primary battery and secondary battery. Among these, secondary battery is projected to dominate the global micro battery market revenue through the projected period as estimated by MRFR analysts. Secondary batteries reduce the need for frequent battery replacements, which is especially important in micro-scale applications where accessing and replacing batteries might be challenging. Their rechargeability makes them a more sustainable choice, leading to reduced electronic waste and a longer operational lifespan for devices.

The global micro battery market segmentation, based on application has been segmented as below 10 mAH, between 10 mAH to 100 mAH, and above 100 mAH. Among these, below 10 mAH is projected to dominate the global micro battery market revenue through the projected period as estimated by MRFR analysts. Many devices and sensors that fall within the below 10 mAh range are extremely small and have limited space for a power source. Micro batteries can be customized to fit these compact form factors, enabling the development of smaller and more lightweight devices.

Regional Analysis

By Region, the study segments the Micro Battery market into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The North America region has experienced significant economic growth over the past decades. North America is home to numerous technology hubs, research institutions, and innovative companies that are actively involved in developing cutting-edge micro battery technologies. Research and development efforts in these regions lead to the creation of advanced battery chemistries, materials, and manufacturing processes that drive the growth of the micro battery market. The region has a history of quickly adopting new technologies, and the demand for miniaturized and efficient power sources in applications like wearables, IoT devices, medical implants, and portable electronics is strong. This demand creates a favorable environment for micro battery market growth.

Key Findings of the Study

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  The global micro battery market is expected to reach USD 7,886.52 million by 2030, at a CAGR of 17.51% during the forecast period.

  
  


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  The North America region accounted for the fastest-growing global market.

  
  


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  Based on component, the substrates segment was attributed to holding the largest market in 2022.

  
  


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  Based on type, the solid state chip battery segment was attributed to holding the largest market in 2022.

  
  


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  Cymbet Corporation (US), Panasonic Corporation (Japan), STMicroelectronics (Switzerland), Enfucell Flexible Electronics Ltd (China), Blue Spark Technologies (US), Jenax Inc. (South Korea), Prologium technology Co. ltd (Taiwan), Front Edge Technology Inc. (US), Imprint Energy Inc. (US), Ultralife Corporation (US) are the key market players.