Micro Battery Market is gaining traction, owing to the proliferation of wireless sensors
Chicago, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The global micro battery market is experiencing a surge in demand, driven by the growing use of wireless sensors equipped with micro batteries. This dynamic market, characterized by battery type, type, capacity, application, and region, is poised to play a pivotal role in the advancement of wireless technologies and IoT devices.
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Micro Battery Industry: Empowering Wireless Sensor Revolution
The micro battery industry plays a critical role in powering a wide range of compact and IoT devices. These miniature power sources enable the seamless operation of wireless sensors, smart cards, and various applications that demand reliable, long-lasting power solutions.
Micro Battery Market Report Scope:
| Report Metric | Details |
| Estimated Market Size in 2023 | USD 0.5 Billion |
| Projected Market Size in 2028 | USD 1.3 Billion |
| Growth Rate | CAGR of 22.4% |
| Market Size Available for Years | 2019–2028 |
| Base Year | 2022 |
| Forecast Period | 2023–2028 |
| Units | Value (USD Million/Billion) |
| Segments Covered | Type, Capacity, Battery Type, and Application |
| Geographic Regions Covered | North America, Asia Pacific, Europe, and RoW |
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Key Insights into the Micro Battery Market:
Growing Use of Wireless Sensors: The proliferation of wireless sensors equipped with micro batteries is one of the primary driving forces behind the market's growth. These sensors are essential for a variety of applications, from environmental monitoring to industrial automation.
Micro Battery Market Ecosystem: The market encompasses diverse battery types, including thin-film, printed, solid-state chip, and button batteries. These batteries cater to the specific requirements of different applications.
Capacity Variability: Micro batteries are available in varying capacities, ranging from below 10 mAh to 10 to 100 mAh and above 100 mAh. These capacity options enable tailored solutions for various devices.
Battery Type: The market offers both primary (non-rechargeable) and secondary (rechargeable) micro batteries, providing flexibility for different applications and user preferences.
Global Expansion and Regional Growth:
The micro battery market is poised for expansion, with Asia Pacific projected to grow at the highest compound annual growth rate (CAGR) from 2023 to 2028. This growth is attributed to the region's rapid adoption of IoT technologies and the increasing demand for wireless sensors and smart cards.
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