Asia Pacific Micro Battery Market Forecast to 2030 - Regional Analysis - by Type (Thin Film Battery, Solid State Chip Battery, and Button Battery), Rechargeability (Primary Battery and Secondary Battery), and Application (Consumer Electronics, Smart Packi

Asia Pacific Micro Battery Market Forecast to 2030 - Regional Analysis - by Type (Thin Film Battery, Solid State Chip Battery, and Button Battery), Rechargeability (Primary Battery and Secondary Battery), and Application (Consumer Electronics, Smart Packing, Medical Devices, Wireless Sensor Nodes, and Others)

The Asia Pacific micro battery market was valued at US$ 291.23 million in 2022 and is expected to reach US$ 1,316.02 million by 2030; it is estimated to record a CAGR of 20.7% from 2022 to 2030.

Advancements in IoT Devices Boost Asia Pacific Micro Battery Market

The Internet of Things (IoT) has revolutionized how we interact with technology, enabling seamless connectivity between devices and creating a vast ecosystem of smart devices. As IoT devices continue to increase across various industries and sectors, the need for reliable and efficient power sources becomes crucial. This presents a significant opportunity for the micro battery market to play a vital role in meeting the power demands of IoT devices. The IoT landscape has expanded exponentially, encompassing diverse applications such as smart homes, industrial automation, healthcare, transportation, and more. These IoT devices rely on miniaturized electronics that require compact and long-lasting power solutions. Micro batteries, with their small form factor and high energy density, perfectly align with the requirements of IoT devices, making them an ideal power source. Moreover, IoT devices often operate in remote or hard-to-reach locations, requiring reliable power sources to ensure uninterrupted functionality. Micro batteries are easily deployable in these challenging environments, providing a portable, self-contained power solution. This flexibility allows IoT devices to be deployed in various scenarios, from smart sensors in agricultural fields to wearables monitoring vital signs in healthcare settings. Additionally, the advancements in IoT devices, coupled with the evolution of micro battery technology, have led to enhanced user experiences. This translates to improved convenience, longevity, and reliability for end users, fostering further adoption and integration of IoT technology in various aspects of daily.

Asia Pacific Micro Battery Market Overview

Various countries in the Asia Pacific region are experiencing a dynamic shift toward the technologically advanced landscape with a key emphasis on projects in smart cities, such as the integration of the Internet of Things (IoT) and advancements of healthcare systems. The surge in connected devices, spanning smart home appliances and wearable gadgets among consumers, is also propelling the micro battery market growth in Asia Pacific. Moreover, these devices require thin, flexible, and safe power sources, which micro batteries can provide. In addition, the growing demand for other consumer electronic devices such as smartphones, tablets, wearables, and other devices in Asian countries will also boost the growth of the Asia Pacific micro battery market in the coming years. In Asia Pacific, China is the largest manufacturer of consumer electronic devices. According to Nikkei Inc., the Chinese government is working on various plans to expand the country's domestic electronic market by investing US$ 327 billion till 2023. In addition, the Indian government is expanding the electronics market in the country. According to the Ministry of Electronics & IT, initiatives by the Indian government and efforts of the industry have led to the domestic production of electronic goods with revenue of US$ 74.7 billion in 2020 and a CAGR of 17.9%. A few government policies for electronics manufacturing include the Production Linked Incentive (PLI) Schemes, the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), and the Modified Electronics Manufacturing Cluster (EMC 2.0) Scheme. Furthermore, the electronics sector in Asia Pacific accounts for 20-50% of Asia's total value of exports. As Asia Pacific is the largest electronic manufacturer, the demand for micro batteries will rise across the region during the forecast period. Additionally, there is a growing use of micro batteries in medical devices such as wireless thermometers, pulse oximeters, and drug delivery patches, which are especially used while treating COVID-19 patients.

Asia Pacific Micro Battery Market Revenue and Forecast to 2030 (US$ Million)

Asia Pacific Micro Battery Market Segmentation

The Asia Pacific micro battery market is segmented based on type, rechargeability, application, and country. Based on type, the Asia Pacific micro battery market is categorized into thin film battery, solid state chip battery, and button battery. The button battery segment held the largest market share in 2022.

In terms of rechargeability, the Asia Pacific micro battery market is bifurcated into primary battery and secondary battery. The primary battery segment held a larger market share in 2022.

In terms of application, the Asia Pacific micro battery market is categorized into consumer electronics, smart packing, medical devices, wireless sensor nodes, and others. The consumer electronics segment held the largest market in 2022.

By country, the Asia Pacific micro battery market is segmented into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific micro battery market share in 2022.

Molex LLC, Murata Manufacturing Co Ltd, Varta AG, Duracell Inc, Renata SA, Maxell Holdings Ltd, Seiko Instruments Inc, and Panasonic Energy Co Ltd are some of the leading companies operating in the Asia Pacific micro battery market.

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