Micro Battery Market To Observe A CAGR Of 26.7% In The Forecast Period
Micro Battery Market -Overview
The need for energy crises in innovative ways is estimated to promote the micro battery market 2020. The energy and power industry reports are produced by Market Research Future, which highlights market options for expansion. A 26.7% CAGR is estimated to drive the expansion of the market in the forecast period.
The small portable electronic devices such as pocket calculators, wristwatches, hearing aids are being used increasingly in a range of devices ad are estimated to bolster the micro battery market growth. The surging global demand for wearable devices is estimated to further boost the micro battery market size in the forecast period.
Segmental Analysis
The segmental assessment of the micro battery market has been conducted on the basis of application, component, type, capacity, product, and region. The component basis of segmenting the micro battery market consists of electrolytes, substrates, current collectors, electrodes, and others. By type, the micro battery market has been segmented into printed battery, a thin-film battery, and solid-state chip battery. Based on the product, the micro battery market has been divided into the primary battery and secondary battery. Based on the capacity, the micro battery market is segmented into between 10 mAh to 100 mAh, below 10 mAh, and above 100 mAh. Based on the application, the micro battery market is segmented into medical devices, consumer electronics, smart cards, wearable devices, smart packaging, and others.
Detailed Regional Analysis
The regional assessment of the micro battery market is segmented into regions such as Europe, Asia-Pacific, North America, the Middle East, Africa and South America,. The Asia-Pacific region controls the most significant micro battery market portion owing to the knowledge advancement in smart packaging, and the healthcare industry, the mounting demand for medical devices, mostly pacemakers, medical patches, and drug delivery systems is projected to increase the demand of micro-batteries in the Asia-Pacific region. The micro battery market in the European region is anticipated to be led by Germany due to an augmentation in demand for electrical equipment in the industrial sector in the country. Moreover, the smart packaging technologies being implemented at a stable rate in the country, driving the micro battery market in the region during the forecast period. The micro battery market in the Middle East Africa region is directed by the nation of Saudi Arabia owing to the development in use and need for wearable devices in the country.
Competitive Analysis
The competition in the market is manageable, which is inducing the entry of new players in the global market. The market is expected to record a stable growth rate in the coming years. The market competitors are expected to play a key role in the development of the global market. The development of adequate sources of raw material is predicted to transform the market in the upcoming period further. The availability of strong government support and the presence of encouraging policies is expected to enliven the growth prospects in the approaching period. The incidence of options that can be favorably capitalized on is aiding the market players in improving their overall position in the market. The balance in demand and supply in the market will prove as an encouraging growth factor in the forecast period. The upgrades in production methods are estimated to transform the potential of the market in the forecast period.
The critical companies operating in the Micro Battery Market are Samsung SDI Co., Ltd. (South Korea), Cymbet Corporation (US), Enfucell Oy Ltd. (Finland), Blue Spark Technologies (US), Ultralife Corporation (US), BrightVolt Inc. (US), ProLogium Technology Co., Ltd. (Taiwan), STMicroelectronics N.V. (Switzerland), Front Edge Technology, Inc. (US), Panasonic Corporation (Japan), Imprint Energy (California), and Jenax (South Korea).
