Battery Market for IoT by 2025 - COVID-19 Impact Analysis

 The battery market for IoT is estimated to grow from USD 9.2 billion in 2020 to USD 15.9 billion in 2025; growing at a CAGR of 11.6% from 2019 to 2025.

The major factors driving the growth of the market are multi-fold rise in the use of IoT and increase in the adoption of IoT-enabled devices, increase in the global demand for wireless communication, the surge in R&D activities to develop advanced, flexible, and thin batteries, and rise in demand for thin and flexible batteries used in IoT-enabled devices. However, high upfront costs involved in the development of thin and flexible batteries, and the ecological implications of the disposing of battery wastes hinder the growth of the market.

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The printed battery segment is expected to grow at the highest CAGR during the forecast period. Printed batteries are a newer type of micro batteries. They are mostly composed of Zinc-based materials. Advantages such as thin size and small form factor, and their ability to be disposed off easily have made printed batteries popular in smart packaging and medical application markets, with their demand likely to be increasing further during the forecast period.

Based on rechargeability, the battery market for IoT for primary batteries is expected to grow at the highest CAGR during the forecast period. Primary batteries are used in products that do not require high power and have a limited lifespan. These batteries are witnessing increasing applications in areas such as smart packaging, smart cards, home automation, retail, and medical and cosmetic patches, as they have low self-discharge time compared to rechargeable thin-film batteries.

The battery market for IoT for the aerospace and defense end-use application is expected to grow at the highest CAGR during the forecast period. The increasing installation of smart beacons that allow mobile apps to comprehend their position on a micro-local scale and deliver content to users based on their location using Bluetooth technology is propelling the market growth.

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The IoT battery market in APAC is expected to grow at the highest CAGR during 2020–2025. APAC consists of a number of emerging economies such as Australia, India, China, Japan, and Singapore. The high rate of the adoption of new technologies has made this region a lucrative market for IT industries; attributed to this reason, the battery market for IoT in APAC is expected to grow at the highest rate. In addition, these countries are taking aggressive initiatives to upsurge the IT infrastructure enabling commercial users to adopt cutting-edge technologies.

What are the prevalent trends in the IoT Battery market?

The global battery market for IoT is estimated to grow from USD 9.2 billion in 2020 to USD 15.9 billion in 2025; growing at a CAGR of 11.6% from 2020 to 2025. The major factors driving the growth of the market are multi-fold rise in the use of IoT and increase in the adoption of IoT-enabled devices, increase in global demand for wireless communication, the surge in R&D activities to develop advanced, flexible, and thin batteries, and rise in demand for thin and flexible batteries used in IoT-enabled devices.

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Lithium batteries projected to hold largest share in battery market for IoT during forecast period

Lithium batteries have a plethora of applications in IoT devices such as wearables, home automation devices, retail, aerospace, and defense. Moreover, a feature such as high energy density is a key factor complementing its growth among other batteries.

Battery Market for primary batteries is expected to grow at highest CAGR during forecast period

Primary batteries are used in products that do not require high power and have a limited lifespan. These batteries are witnessing increasing applications in areas such as smart packaging, smart cards, home automation, retail, and medical and cosmetic patches, as they have low self-discharge time compared to rechargeable thin-film batteries. Therefore, the market for primary batteries is expected to grow at the highest CAGR during the forecast period.

Battery Market for IoT in North America accounted for largest size of market in 2019

The North American region is a key market for batteries used in IoT-enabled devices as it is home to some of the largest multinational corporations such as Intel (US), Texas Instruments (US), and Cisco Systems (US) that are key IoT enablers. Additionally, a number of North America-based companies are developing batteries for use in wearable devices, smart packaging, smart cards, medical devices, and wireless communication systems. The increasing demand for wearables and medical devices is a key factor driving the growth of the battery market in this region.

Advancements in the packaging industry in North America have led to the integration of smart sensors, RFID tags, and smart labels in packages. Smart packages use printed thin batteries. The rise in the demand for smart packaging is expected to drive the growth of thin-film and printed batteries segments of the battery market for IoT in North America. The increased penetration of IoT in medical devices and the miniaturization of wireless devices are expected to increase the demand for thin-film and printed batteries in North America.

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Key Market Players

Duracell Inc (Duracell) (US), Energizer Holdings Inc (Energizer) (US), Panasonic Corporation (Panasonic) (Japan), LG Chem Ltd (LG Chem) (South Korea), Samsung SDI Co (Samsung SDI) (South Korea), STmicroelectronics N.V (STmicroelectronics) (Switzerland), and Cymbet Corporation Inc (Cymbet) (US) are a few of the key market players in the battery market for IoT.

Battery Market for IoT is expected to grow at highest CAGR during forecast period

According to the new market research report "Battery Market for IoT by Type, Rechargeability, End-use Application, and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the Battery Market for IoT is estimated to grow from USD 9.2 billion in 2020 to USD 15.9 billion in 2025; growing at a CAGR of 11.6% from 2020 to 2025.

The major factors driving the growth of the market are multi-fold rise in the use of IoT and increase in the adoption of IoT-enabled devices, increase in global demand for wireless communication, surge in R&D activities to develop advanced, flexible, and thin batteries, and rise in demand for thin & flexible batteries used in IoT-enabled devices.

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Printed batteries segment is expected to witness highest CAGR in battery market for IoT during forecast period

Printed batteries are the newer types of microbatteries. They are mostly composed of Zinc-based materials. Advantages such as thin size and small form factor, and their ability to be disposed off easily have made printed batteries popular in smart packaging and medical application markets, and their demand is expected to increase further during the forecast period.

Aerospace and defense end-use application is expected to witness highest CAGR in battery market for IoT to during forecast period

IoT technology is used in the aerospace and defense end-use application to ensure connectivity and the integration of aircraft, systems, and people to the Internet. This application makes use of sensors to capture comprehensive machine data. These sensors are installed on critical aerospace and defense equipment, machines, and vehicles. IoT technology also offers numerous opportunities for airlines to improve their baggage handling and equipment monitoring processes. The increasing installation of smart beacons that allow mobile apps to comprehend their position on a micro-local scale and deliver context to users based on their location using Bluetooth technology, is driving their market growth.

Browse in-depth TOC on "Battery Market for IoT"

62 – Tables

41 – Figures  

149 – Pages

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Battery market for IoT in APAC expected to grow at highest CAGR from 2020 to 2025

APAC comprises a number of emerging economies such as Australia, India, China, Japan, and Singapore. The high rate of the adoption of new technologies has made this region a lucrative market for IT industries; attributed to this reason, the battery market for IoT in APAC is expected to grow at the highest rate. In addition, these countries are taking aggressive initiatives to upsurge the IT infrastructure enabling commercial users to adopt cutting-edge technologies. The major manufacturers of wearable devices and consumer electronics in this region are miniaturizing their product designs, which require micro power sources for compatibility with the miniaturized designs. Also, technological advancements in smart packaging (such as the use of printed RFID tags and smart labels in packages), as well as the adoption of medical devices, mainly pacemakers, drug delivery systems, and medical patches, which require lightweight, flexible and safe power sources, are fueling the market growth of microbatteries in the APAC region.

Duracell Inc (Duracell) (US), Energizer Holdings Inc (Energizer) (US), Panasonic Corporation (Panasonic) (Japan), LG Chem Ltd (LG Chem) (South Korea), Samsung SDI Co (Samsung SDI) (South Korea), STmicroelectronics N.V (STmicroelectronics) (Switzerland), Cymbet Corporation Inc (Cymbet) (US), Ultralife Corporation (Ultralife) (US), Ilika Plc (Ilika) (UK), and Imprint Energy Inc (Imprint Energy) (US) are the prominent players in the global battery market for IoT.