Micro Battery Market Analysis

Global Micro Battery Market Overview

Micro Battery Market Size was valued at USD 450.95 million in 2023. The Micro Battery Market industry is projected to grow from USD 533.85 million in 2024 to USD 2138.94 million by 2032, exhibiting a compound annual growth rate (CAGR) of 16.67% during the forecast period (2024 - 2032). A micro battery refers to a small-scale battery designed to provide power to tiny electronic devices and components. These batteries are typically used in applications where space is limited, and traditional larger batteries are impractical due to size constraints. Micro batteries are commonly found in various types of miniature devices.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Micro Battery Market Trends

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  Growing adoption of wearable devices to fuel the Micro Battery market.

  
  

Wearable devices have become rapidly evolving technologies that have the potential to transform people's lifestyles, improving their well-being, choices, and behaviors, as well as improving core business processes. However, the adoption of these devices has been relatively slow compared to traditional technologies such as smartphones. As such, manufacturers and designers are showing a growing interest in understanding the factors influencing the adoption of these technologies. This will help them improve the features and the appeal of these devices to excite and persuade consumers. This is primarily due to the increasing acceptance of wearable devices and the growing need for medical devices in the region. The growing demand for fitness trackers in Indonesia, China, and India can be attributed to growing public awareness of healthy lifestyles and falling costs for such wearable devices. Additionally, Wearables have gained significant traction among consumers due to the rising fitness trend. According to Cisco Systems, the number of connected wearables is expected to increase from 593 million in 2018 to 1,105 million in 2022. The smartwatch category is seeing a resurgence due to added features like everyday lifestyle branding. Powerful brands like Fossil and Apple keep prices in line with traditional watch price bands to maintain their earnings. With Google's WearOS, many other premium watch manufacturers such as TAG and Armani have entered the segment. Such trends directly propel the micro battery market growth during the review period.

In medicine, wearable devices are used to collect data without interfering with patients' daily activities, for example, to record long-term ECGs. Because the sensors are lightweight, flexible, and hidden within clothing, this is a convenient way to monitor a patient's heartbeat. Technology is also used in everyday life, for instance, fitness bracelets that measure the heart rate of runners while running. There is great growth potential in the wearables sector, which directly influences the growth of the micro battery market.

Growing demand for thin and flexible batteries in IOT devices to propel the Micro Battery market.

Flexible batteries, as the name suggests, are flexible and conformable, allowing them to be easily fixed in a small area and angle. They can be either rechargeable or single-use. Their design provides significant benefits over their counterparts in terms of performance and form factor. These batteries find applications in smart cards, consumer electronics, wearable devices, and medical devices. These batteries also have a number of advantages including reduced cost, smaller size, lightweight, and high energy density. The flat design of thin-film batteries makes them more compatible with new technologies. Additionally, these batteries can now easily be installed in portable electronic devices because they are reliable, affordable, and small. Thin-film batteries have excellent battery reserve, making them ideal for low-power electronics. This feature is expected to boost market growth. The market is supported by several big companies like Apple and Samsung who have turned to developing flexible batteries for wearable technology.

The development of wearable electronics and Internet of Things (IoT) devices will increasingly require battery attributes such as thinness, flexibility, lightweight, and low charging thresholds. The demand for micro batteries with these unique parameters is expected to increase significantly in the coming years, as manufacturers are starting to use them not only to differentiate current products but also to introduce new product categories. For instance, Qualcomm, with the support of printed battery maker Enfucell, introduced a new product concept: a golfer identification tag that transmits club speed and other data to a smartphone. In another recent example, Blue Spark Technologies introduced a smart bandage called TempTraq that sends a child's temperature to a smartphone via a low-energy Bluetooth circuit and a sensor powered by a flexible battery.

Energy storage solutions are more advanced than many manufacturers realize. New battery innovations give manufacturers the freedom to create truly user-friendly IoT devices for efficient data transmission and collection. Next-generation light, thin, flexible, and flexible high-performance battery solutions can be seamlessly integrated into connected devices. This results in a more aesthetically pleasing design of the device's hardware, providing a better user experience and convenience, and ultimately leading to broader market adoption. For example, if a patch used for biometric data monitoring or therapeutic purposes is embedded in a thick, rigid battery unit, the user feels uncomfortable wearing it. This inconvenience limits the user's usage time, resulting in the collection of a small amount of data not conducive to analysis. However, if the patch has a seamless integration of thin, flexible batteries, it will not interfere with users' daily activities. In fact, the user is not even aware that they are using it, which of course increases usage. As each consumer USES patches more often, more data can be collected and more valuable feedback can be provided.

Integration of micro-batteries in smart textiles is surging the Micro Battery market.

With the rapid development of micro and nanotechnologies and driven by the need to increase the value of conventional textile products, basic and applied research in smart textiles has increased significantly in recent times. The evolution of information technology in connection with microelectronics and system developments offers a unique and excellent opportunity to integrate electronic functionalities into textile materials. In the last decade, new multidisciplinary research has emerged in this area of textiles. Biomaterials, micro or nano technologies and information technologies have continued to lead the revolution. This results in new possibilities and mechanisms to increase the functionality of textile materials; from the new structure of fibres, compounds and coatings at the nano or micro level to the real and visible implementation of electronic functionalities in garments and apparel products.

Recent advances in wireless technology, microelectronic systems, and internet access have helped electronic objects become connected, allowing them to communicate with each other and provide users with enough information to make decisions and improve their lives. In such an environment, light, portable and flexible electronic devices in various forms would be widely used, such as Sensors embedded in textiles for health monitoring. Processing, storage and communication, which allows them to be used for military activities, health and medical textiles, among others. So far, only the sensor function of these textiles, providing an interface between various electronic components and end users, is an active research area. Therefore, smart clothes and wearable devices could monitor various physiological variables and be useful for various applications including health monitoring difficult and at the same time, if done well, the key to the successful commercialization of smart garments. The power supply for e-textiles can be performed through energy harvesting methods, such as the use of micro-batteries, and also energy storing supercapacitors or photovoltaics. In terms of power conversion devices, MESDs such as micro batteries (MB) and micro supercapacitors (MSC) have significant advantages. As for the appearance, the high integration of MESDs gives the device a multifunctional and compact design, suitable for portability. MESDs can be divided into sandwich thin-film MESDs, interdigital MESDs27 and fiber-type MESDs. In particular, miniaturized fibrous devices possess unique one-dimensional (1D) ductility and intrinsic knittability due to high aspect ratio fibers. In addition to the construction methods based on thin-film and interdigital MESDs, fiber/yarn-shaped MESDs are special fabric-based energy storage devices with unique 1D architecture. Compared with planar MBs and MSCs, fiber/yarn-shaped fabric-based batteries exhibit both higher flexibility and air permeability, which can make wearable devices have better comfort and wearing experience.

Micro Battery Market Segment Insights

Micro Battery by Component Insights

The Micro Battery Market segmentation, based on component, has been segmented as electrodes, electrolytes, substrates, current collectors, and others. Among these, the substrates is projected to dominate the Micro Battery Market revenue through the projected period. In order to fabricate micro-batteries with high-energy, high-power density, and a variety of applications, the employment of support substrates, electrodes or current collectors, and electrolytes has become more crucial. The substrate is made of a conductive material, such as silicon, copper, titanium, or carbon. Researchers from MIT, the Swiss Federal Institute of Technology (EPFL – Lausanne), and Eidgenössische Technische Hochschule (ETH – Zurich) recently developed an innovative fuel cell that uses glucose solution and an ultra-thin ceramic substrate to produce a flexible, high-capacity biocompatible battery that generates electricity directly from in-body glucose. The segment accounted for a higher market share of 34.27% in 2021 and is predicted to register a lower CAGR of 16.95% during the projected period.

Micro Battery by Type Insights

The 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 Micro Battery Market revenue through the projected period. In the worldwide micro battery sector, solid-state chip batteries are being developed as an alternative to traditional lithium-ion batteries. Because they employ non-flammable, stable, and solid electrolyte components instead of a liquid, these batteries have a higher level of safety, durability, and efficiency. This eliminates the possibility of a fire or leak. Nearly all are now connected to the internet due to the Internet of Things. Along with compactness and communication capabilities, battery performance has become one of the most important variables to consider when building electronic gadgets. Today, high-energy-density lithium-ion batteries are extensively utilized in electronic gadgets such as electrical vehicles, drones, and communication devices. IoT device developers are now looking for safer power and more dependable solid-state batteries with non-flammable and safe electrolyte ingredients. Over the projection period, this is likely to drive the growing demand for solid-state chip batteries. The segment accounted for a 46.80% larger share of the market in 2021 and is predicted to register a less high CAGR of 17.54% during the projected period.

Micro Battery by Product Insights

The Micro Battery Market segmentation, based on product, has been segmented as primary battery

and secondary battery. Among these, secondary battery is projected to dominate the Micro Battery Market revenue through the projected period. Secondary batteries are rechargeable batteries that may be used again and again. Rechargeable batteries are another name for them. They have the same electrochemical reaction as alkaline batteries, however, they may reverse the electrochemical process. This battery is utilized in portable electronics like smartphones, laptops, electric vehicles, etc. Secondary batteries with a long lifespan are required for applications such as consumer electronics, wearable devices, medical equipment, and wireless sensor systems. Manufacturers are always striving to come up with novel designs fit for their wearable gadgets and medical equipment, thanks to improvements in technology. As a result, the need for thin, lightweight, bendable, flexible, and high-capacity rechargeable batteries that can last a long time is rising. As a result, secondary micro battery demand in the applications especially is considerable and predicted to grow fast throughout the projection period. The segment accounted for a 68.37% larger share of the market in 2021 and is predicted to register a higher CAGR of 17.71% during the projected period.

Micro Battery by Capacity Insights

The Micro Battery Market segmentation, based on capacity, 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 Micro Battery Market revenue through the projected period. The thickness of the micro-battery may even be reduced to 330m. The same technique allows for extremely quick recharging of the micro-battery at constant voltage; it takes less than 60 seconds to recharge the micro-battery to a SOC of 50%. Wearable technology, consumer goods, and healthcare are just a few of the uses for these tiny micro-batteries. The segment accounted for a larger market share of 44.53% in 2021 and is predicted to register a CAGR of 17.14% during the projected period.

Micro Battery by Application Insights

The Micro Battery Market segmentation, based on type, the market is segmented as consumer electronics, medical devices, smart wearable devices, smart cards, wearable devices, and others. Out of which the smart packaging segment dominated base year market and is also projected to be holding a dominating share in the forecasted period as well. The Internet of Things (IoT) movement uses smart packaging and smart labels on packaging to track goods and improve the consumer experience. Medical packaging, logistics tracking, food safety, and other industries adopt smart packaging. Micro-batteries, including printed batteries and solid-state batteries, play a vital part in powering smart packaging and smart label technologies. Together with Ynvisible, Evonik, a global leader in specialty chemicals, developed printable rechargeable batteries that include a printed electronic display. A self-powered smart signage system that works well in retail, supply chains, and in-home devices has been created in collaboration by Evonik, Epishine, and Ynvisible. It makes use of an electrochromic display from Ynvisible, solar cells from Epishine, and printed batteries from Evonik. Morimoto-Pharma is looking for collaborations with local and international pharmaceutical, packaging, and printing businesses for applications utilizing their unique "ESOP" soft smart tablet packaging technology. The segment accounted for a market share of 23.33% in 2021 and is predicted to register the highest CAGR of 18.75% during the projected period.

Micro Battery Regional Insights

By Region, the study segments the Micro Battery market into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The sizable Micro Battery industry in North America is likely to make the region the largest expanding global market for Micro Battery. The micro battery market in North America is growing due to the factors such as increased government support, investment in R&D, and the large potential consumer base. In Canada and Mexico, the growing manufacturing plants, the growth of the consumer electronics industry, the growth of the foreign direct investment in the industrial sector, and the rising adoption of industrial automation in these countries add to the growth of micro battery sales. The North American Free Trade Agreement (NAFTA) focuses on increasing equipment exports from Mexico and Canada, which allows for growth in the manufacturing sector. Mexico has more than 40 free trade agreements with Japan and other countries, including the European Union (EU), which provide additional incentives for large multinational companies to ensure industrial growth in North America. Such factors are expected to increase the demand for micro battery in North America.

Micro Battery Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Micro Battery Market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Micro Battery Market industry must offer cost-effective products to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global Micro Battery industry to benefit clients and expand the Micro Battery market sector is partnerships and acquisitions. The market for Micro Battery is recognized as being extremely competitive and fragmented. The market for Micro Battery offers considerable potential opportunities for domestic and unorganized companies. Some of the key players operating in the market are 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). To increase their global reach and client base, key firms are concentrating on acquisitions and product innovation.

Cymbet Corporation: Cymbet Corporation company deals in solid-state energy storage solutions for microelectronic systems. The company prominently deals in the manufacturing of electric appliances. Cymbet Corporation has developed its advanced facility located in New Brighton, Minnesota, and Lubbock, Texas. The Lubbock fab site is co-located with X-FAB Incorporation whereas these two sites facilitate large volume manufacturing of micro-batteries. The company has a major presence in the US region and is keen to spread business across the globe.

Panasonic Corporation (Panasonic): Panasonic Corporation (Panasonic) is a multinational electronics provider. The company deals in various vertical businesses. The Panasonic group consists of eight operating companies and affiliates both within Japan and overseas. The company changed its name from Matsushita Electric Industrial Co., Ltd to Panasonic Corporation in 2008. The company has its major presence in Europe and North America, Latin America, the Middle, East & Africa, Asia Pacific, and Oceania regions and spreading its business across various countries around the globe.

Key Companies in the Micro Battery Market includes

• 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)

Micro Battery Industry Developments

May 2022: POSCO Holdings and ProLogium signed agreements for the development and supply of materials supporting prologium’s mass production of solid­state batteries. This will further help the company to expand its business.

May 2020, Enfucel Finland company was acquired by Enfucell Flexible Electronics Company. This acquisition further helped the company to expand its business.

February 2024

NANO X micro batteries have been put into production by Core SWX.

According to Core SWX, the new NANO X batteries offer a revolutionary step forward in the realm of portable electronics.

Okay, let's begin with some housekeeping. At numerous points in its documents, Core refers to their new batteries in a variety of different ways, such as NANO X and NANOX. While Joe DeJulius, the leader of the company's Technical Marketing department, refers to it as the NANO X in the video that can be seen below, we will continue to use that term.

It doesn't matter how you say it; the battery is very compact while still being quite sturdy. The NexCore casing compound, which is constructed from sturdy polycarbonate, is the foundation of this product. Core claims that it offers "unparalleled" protection against vibrations and impacts, and it is further strengthened by characteristics that are resistant to the elements. Through the use of a wrap-around LED gauge, an inbuilt EmLED display offers exact power management insights, making it possible to easily check the state of the battery from any aspect of the set. This is reinforced by the incorporation of up to 100 watts of USB-C Power Delivery, which assists in streamlining processes and ensuring compatibility with production equipment.

It is estimated by Core that the design reduces the weight of competitors by roughly twenty percent. Additionally, it is well-integrated with the Voltbridge iD software. It is said by the firm that "simply wave your phone for vital stats, no magic is required," and the company is planning to release an app this summer.

There are two distinct capacities, 98Wh and 150Wh, for the NANOX, which can be mounted in either a V-mount or a G-mount.

The NANO X Micro 98 measures just 2.82 inches by 3.9 inches by 2.2 inches and weighs only 1.3 pounds, but the NANO X Micro 150 was 2.83 inches by 3.93 inches by 2.63 inches and weighed 1.6 pounds.

Micro Battery Market Segmentation:

Micro Battery Component Outlook

• Electrodes


• Electrolytes


• Substrates


• Current Collectors


• Others

Micro Battery Type Outlook

• Thin Film Battery


• Printed Battery


• Solid State Chip Battery

Micro Battery Product Outlook

• Primary Battery


• Secondary Battery

Micro Battery Capacity Outlook

• Below 10 mAH


• Between 10 mAH to 100 mAH


• Above 100 mAH

Micro Battery Application Outlook

• Consumer Electronics


• Medical Devices


• Smart Wearable Devices


• Smart Cards


• Wearable Devices


• Others

Micro Battery Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • Russia
  
  
  • Italy
  
  
  • France
  
  
  • Spain
  
  
  • UK
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia & New Zealand
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East & Africa
  
  
  
  • Turkey
  
  
  • South Africa
  
  
  • GCC Countries
  
  
  • Rest of Middle East & Africa
  
  
  
  


• Latin America
  
  
  
  • Brazil
  
  
  • Mexico
  
  
  • Argentina
  
  
  • Rest of Latin America