The global battery market size 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% during the forecast period. The major factors driving the growth of the market include the multifold rise of IoT and the increase in the adoption of IoT devices, growing R&D activities by major companies, the growth of wireless communication, which is power-intensive, and the high demand for thin and flexible batteries in IoT devices.
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.
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Top 2 players in battery market for IoT are:
Cymbet is one of the key market players offering batteries to various end-use industries. Its proprietary manufacturing process—PowerFab—uses semiconductor fabrication processes to develop rechargeable energy storage devices with no liquids, gels, or harmful chemicals. The EnerChip batteries and integrated products offered by the company enable the development and incorporation of new concepts in sensors, industrial controls, and RFID tags, as well as in communication, portable, medical, and electronic devices. Cymbet has adopted the strategies of partnerships and collaborations to enhance its position in the market. Over the years, it has partnered with several industry leaders to develop solutions that enable the development of advanced power backups and pervasive power and energy harvesting solutions. Cymbet also concentrates on the strategic development of products and technologies to strengthen its business, as well as its customer base. With an aim to broaden its product portfolio and leverage the unique qualities of the EnerChip solid-state rechargeable micro-batteries. Cymbet has introduced an integrated circuit combining ultra-low power RTC with power management features to support power switching and battery management.
In February 2020, Cymbet and US-based Axzon announced that they are combining their unique technologies to create the world’s lowest power IoT sensor tag at a price point. This sensor is expected to be used for the continuous monitoring and data logging of key environmental conditions during the logistics chain of perishable goods, such as meat and medicines, at any point in the logistics flow.
In May 2018, Cymbet introduced its next-generation of power management with RTC (PMRTC) products. These new products integrate an ultra-low-power real-time clock (RTC) with power management and power switching systems optimized for innovative applications. These systems such as battery-less sensors and wearable sensors are currently being designed by top companies for use in standard industrial and consumer applications for RTC devices. EnerChip batteries also facilitate the development of a number of these new designs and applications.
STMicroelectronics is well-known for the development and manufacturing of semiconductor products used in a variety of applications. The company not only has a wide market presence but also a diversified product portfolio. Significant R&D capabilities of STMicroelectronics enable it to develop innovative products to remain at the forefront of its respective businesses and differentiate its offerings in a highly competitive market. It also invests a major proportion of its capital in R&D activities to ensure that new developments are profitable and cater to the requirements of its customers.
In July 2014, STMicroelectronics added thin-film batteries to its wide product portfolio by launching EnFilm paper-thin batteries, which are designed for applications such as wireless sensors, RFID tags, smart cards, wearable devices, non-implantable medical monitors, and energy harvesting devices.
Battery Market for IoT by Type, Rechargeability, End-use Application, and Geography - Global Forecast to 2025
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