IoT Battery Market Size & Share, By Type (Chemical Batteries, Thin-film Batteries, Printed Batteries, Solid-state Chip Batteries), Rechargeability (Primary Batteries, Secondary Batteries), Application (Wearable Devices, Consumer Electronics, Healthcare, Home Automation, Retail, BFSI, Aerospace & Defense, Industrial, Agriculture, Smart Packaging), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

IoT Battery Market surpassed USD 10.24 Billion in 2023 and is expected to exceed USD 23.95 Billion by end of the year 2032, observing around 9.9% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 10.24 Billion
• CAGR (2024-2032): 9.9%
• Forecast Year Value (2032): USD 23.95 Billion
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

The increasing adoption of IoT devices across various industries is a major growth driver for the IoT Battery Market. With the rising trend of smart homes, connected cars, and industrial automation, the demand for IoT batteries is expected to surge in the coming years.

Additionally, a major contributor to the growth of the IoT Battery Market is the growing focus on sustainable energy solutions. As companies and consumers alike become more environmentally conscious, there is a growing need for energy-efficient and eco-friendly batteries to power IoT devices.

Furthermore, the ongoing advancements in battery technology, such as the development of high-capacity and long-lasting batteries, are driving the growth of the IoT Battery Market. These technological innovations are enabling longer battery life for IoT devices, thereby increasing their functionality and usability.

Report Scope

Report Coverage	Details
Segments Covered	Type, Rechargeability, Application
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Panasonic, Duracell Inc, LG Chem, STMicroelectronics N.V, Ultralife corporation, Samsung SDI Co, Cymbet, Enfucell OY, Rocket Electric Co., AFT Groupe SA

Industry Restraints:

A substantial impediment for the IoT Battery Market is the concerns surrounding the safety and reliability of batteries. With the increasing number of IoT devices being used in critical applications such as healthcare and automotive, there is a heightened focus on ensuring the safety and reliability of batteries to prevent any potential hazards.

Additionally, the high cost of IoT batteries can act as a restraint for the market growth. The initial investment required for purchasing and installing batteries for IoT devices can be a significant barrier for many consumers and businesses, especially in cost-sensitive markets.

Regional Forecast:

North America:

The IoT battery market in North America is expected to witness significant growth due to the widespread adoption of connected devices in various industries, including healthcare, manufacturing, and automotive. The United States and Canada are key players in the market, with major technology companies investing in IoT solutions. The increasing focus on energy efficiency and sustainable practices is driving the demand for advanced batteries to power IoT devices in the region.

Asia Pacific:

In Asia Pacific, countries like China, Japan, and South Korea are leading the way in IoT innovation, creating a high demand for efficient battery solutions. China, in particular, has a strong manufacturing sector that is increasingly utilizing IoT technology to improve productivity and streamline operations. Japan and South Korea have also emerged as key markets for IoT batteries, with a focus on developing smart cities and autonomous vehicles.

Europe:

The IoT battery market in Europe is growing rapidly, driven by the adoption of IoT devices across various sectors, such as smart home automation, industrial IoT, and healthcare. The United Kingdom, Germany, and France are at the forefront of this trend, with government initiatives promoting the use of IoT technology to boost economic growth and sustainability. Companies in these countries are investing heavily in research and development to meet the increasing demand for reliable and long-lasting batteries for IoT applications.

Segmentation Analysis:

In terms of segmentation, the global IoT Battery market is analyzed on the basis of Type, Rechargeability, Application.

IoT Battery Market

Chemical Batteries:

The chemical batteries segment in the IoT battery market is expected to witness significant growth due to their high energy density and long-lasting performance. These batteries are commonly used in wearable devices, consumer electronics, and healthcare applications.

Thin-film Batteries:

Thin-film batteries are gaining traction in the IoT battery market, particularly in smart packaging and industrial applications. These batteries are known for their flexibility and compact size, making them ideal for IoT devices with limited space constraints.

Printed Batteries:

Printed batteries are finding increasing adoption in the IoT battery market, especially in the retail and agriculture sectors. These batteries can be customized to fit specific device requirements and are cost-effective for mass production.

Solid-state Chip Batteries:

Solid-state chip batteries are poised to revolutionize the IoT battery market with their high energy density and fast-charging capabilities. These batteries are being integrated into aerospace & defense, BFSI, and home automation applications for seamless connectivity and enhanced performance.

Primary Batteries:

Primary batteries, such as alkaline and lithium batteries, are widely used in IoT devices that require stable power sources. These batteries are crucial for applications in industries like aerospace & defense and healthcare, where reliability is paramount.

Secondary Batteries:

Secondary batteries, including lithium-ion and nickel-metal hydride batteries, are preferred for IoT devices that require rechargeable power sources. These batteries are commonly used in wearable devices, consumer electronics, and smart packaging for sustainable energy storage solutions.

Competitive Landscape:

The competitive landscape of the IoT Battery Market is characterized by rapid technological advancements and the growing demand for efficient energy solutions to power a wide range of connected devices. Major players are increasingly focusing on research and development to enhance battery performance, reduce costs, and improve environmental sustainability. This has led to strategic partnerships and collaborations among manufacturers, as well as investments in production capacity to meet the rising needs of various IoT applications such as smart homes, wearables, and industrial automation. Companies in this market are also looking to diversify their product offerings and tap into emerging regions, thereby intensifying competition and fostering innovation.

Top Market Players

- Panasonic Corporation

- Samsung SDI Co., Ltd

- LG Chem Ltd

- Energizer Holdings, Inc

- VARTA AG

- Duracell Inc.

- Toshiba Corporation

- Saft Groupe S.A.

- Amperex Technology Limited (ATL)

- BAK Battery Co., Ltd