Micro Battery Market Worldwide Industry Analysis and New Market Opportunities

1. Asia-Pacific to create high Demand for Micro Batteries owing to Technological Advancements The demand for wearable devices has been rising rapidly since the past few years. Wearable devices, including wireless headsets, smartwatches, fitness bands, are being adopted widely across the globe, as people are becoming more and more conscious regarding their health. Wearable devices help people track their daily activities so that they can improve their lifestyle. These devices also make remote patient monitoring extremely easy for medical professionals. With the rising disposable income, a larger number of people are able to afford such devices. This is leading to the growth of the global micro battery market, as these batteries are an important part of wearable devices. Micro batteries are devices that have high voltage and high energy density, which make them suitable for a large number of applications. The rising adoption of IoT in the medical devices industry is also a major factor leading to the growing demand for micro batteries. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/micro-battery-market/report-sa mple The healthcare industry increasingly adopting high tech solutions, owing to the increasing aging population and rising prevalence of chronic diseases. Medical devices including cardiac monitoring systems and insulin pumps are now being connected with IoT for enhancing remote monitoring practices. These devices provide real-time information regarding the health of the patient. Therefore, the emergence of IoT is driving the demand for micro batteries in the medical devices industry. Micro batteries are also being used for decreasing the size of devices in the healthcare industry. As per a research conducted by P&S Intelligence, the global micro battery market is projected to generate a revenue of $1.1 billion by 2024, increasing from $418.2 million in 2018, exhibiting an 18.4% CAGR during the forecast period (2019–2024). On the basis of type, the market is classified into CR (Lithium), SR (Silver Oxide), LR (Alkaline), and others, out of which, the CR classification accounted for the major share of the market in 2018. These batteries find applications in several devices including calculators, electronic toys, and medical devices. Make Enquiry Before Purchase @ https://www.psmarketresearch.com/send-enquiry?enquiry-url=micro-battery-market In terms of application, the market is categorized into wearable devices, consumer electronics, automotive, medical devices, and others (including smart meters and wireless sensor networks). The medical devices category held the major share of market in the past, owing to the growing demand for micro batteries in several devices including drug delivery systems, insulin pumps, thermometers, and glucometers. The

2. wearable devices category is projected to advance at the fastest pace during the forecast period. The Asia-Pacific region dominated the micro battery market in 2018 and is further predicted to advance at the fastest pace during the forecast period. The increasing demand for medical devices and growing adoption of wearable devices are the key factors leading to the growth of the regional domain. In addition to this, the enhancing technological functionalities and rising enthusiasm for novel technologies among adults are also predicted to drive the demand for micro batteries in the region. In conclusion, the market is being driven by the rising adoption of wearable devices across the globe.