Battery Market for IoT Worth $15.9 Billion in 2025 - Exclusive Report by MarketsandMarkets

CHICAGO, May 14, 2020 /PRNewswire/ -- 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.