Global IoT Battery Market Size By Type (Chemical Batteries, Thin-Film Batteries), By Rechargeability (Primary Batteries, Secondary Batteries), By Application (Wearable Devices, Consumer Electronics), By Geographic Scope And Forecast

IoT Battery Market Size And Forecast

IoT Battery Market size was valued at USD 12.59 Billion in 2024 and is projected to reach USD 25.47 Billion by 2031, growing at a CAGR of 10.16% from 2024 to 2031.

All of their new smart equipment has been made possible by the exploding popularity of Internet of things technologies in recent years. Smart speakers, smartphones, fitness trackers, and smart home security systems just are a few examples of IoT devices. They are electronic devices connected to the cloud and the internet. Every consumer battery transforms internal chemical energy into electrical energy, which is then used to power numerous devices. However, lithium-ion and alkaline batteries are the most often utilized chemical combinations. The performance of the battery is influenced by its internal chemistry, but its discharge rate and energy density are the real measures of its value and quality.

Global IoT Battery Market Drivers

The market drivers for the IoT Battery Market can be influenced by various factors. These may include

• IoT Ecosystem Expansion The need for IoT batteries is being driven primarily by the quick spread of IoT devices across a number of industries, including manufacturing, transportation, healthcare, and smart homes. Long-lasting and dependable power sources are required due to the growing number of linked devices.
• Technological Advancements The market is expanding thanks to advancements in battery technology, which include increases in energy density, longevity, and charging speed. The need for appropriate batteries is further increased by the emergence of low-power and energy-efficient Internet of Things devices.
• Growing Need for Smart gadgets The market is expanding as a result of the increasing use of wearables and smart gadgets, many of which depend on tiny, effective batteries. These gadgets include home automation systems, fitness trackers, and smartwatches.
• Government Initiatives and Smart City Projects The market for IoT batteries is poised for significant growth as a result of government initiatives to construct smart cities, which use IoT technology to enhance infrastructure, energy management, and public services.
• Industrial Automation The need for dependable battery solutions is being driven by the growing trend of automation in sectors where IoT devices are employed for process monitoring, control, and optimization.
• Growth in Wireless Sensor Networks IoT batteries play a major role in the continuous functioning of wireless sensor networks, which are essential for a number of applications including agriculture, security, and environmental monitoring.
• Healthcare Sector The need for high-performance batteries that guarantee dependability and safety is being fueled by the growing use of IoT in the healthcare industry for applications such wearable health devices, remote patient monitoring, and diagnostics.
• Developments in Battery Management Systems The performance and safety of Internet of Things batteries are improved by advancements in battery management systems (BMS), which are also propelling market expansion. Battery life is increased and energy consumption is optimized via efficient BMS solutions.
• Energy Harvesting Technologies More and more attention is being paid to the development and integration of energy harvesting technologies, which can increase the battery life of Internet of Things devices by generating electrical energy from ambient energy sources including heat, light, and motion.
• Cost Reduction and shrinking IoT devices are becoming more accessible and useful, which is driving market growth. This is being achieved through the continuous reduction of costs and the shrinking of batteries without sacrificing performance.

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Global IoT Battery Market Restraints

Several factors can act as restraints or challenges for the IoT Battery Market. These may include

• Limited Battery Life One of the main issues is that IoT devices have a limited battery life. Inconvenient and expensive, frequent replacement or recharging can be, particularly for equipment placed in remote or difficult-to-reach locations.
• Expensive Costs of Advanced Batteries Despite the fact that technology is enhancing battery performance, high-capacity and long-lasting batteries continue to be expensive. Widespread adoption may be hampered by this, especially in markets and applications where costs are an issue.
• Environmental Issues Recycling and disposing of batteries present serious environmental issues. Concerns over sustainability and the environmental effects of battery manufacture and disposal are raised by the possibility that the growing number of IoT devices may result in an increase in electronic trash.
• Energy Density Limitations The performance and lifespan of Internet of Things devices may be restricted by the inability of current battery technology to strike the ideal balance between energy density and compactness.
• Security Concerns One of the main concerns with IoT devices is security. Ensuring secure data transfer and communication might occasionally result in increased energy consumption, which shortens battery life.
• Technological Integration It can be difficult and complex to integrate cutting-edge battery technology with the current Internet of Things architecture. Market expansion may be hampered by compatibility problems and the requirement for specialized battery solutions.
• Regulatory Obstacles Tight laws governing the manufacture, use, and disposal of batteries in different nations might serve as a barrier. Observing these rules may result in higher expenses and more complexity in the supply chain.
• Temperature Sensitivity The performance and longevity of many batteries used in Internet of Things devices can be impacted by changes in temperature. It’s still difficult to provide dependable performance in a variety of environmental circumstances.
• Limitations of Energy Harvesting Although technologies for energy harvesting can prolong battery life, they are not yet developed enough to completely replace traditional batteries in many applications. One remaining constraint on energy harvesting solutions is their efficiency.
• Market Fragmentation There are many various types of IoT devices, each requiring a particular set of battery specs, resulting in a highly fragmented market. The supply chain may become inefficient as a result of this fragmentation, which can make mass production and standardization more difficult.

Global IoT Battery MarketSegmentation Analysis

The Global IoT Battery Market is Segmented on the basis of Type, Rechargeability, Application, and Geography.

IoT Battery Market, By Type

• Chemical Batteries
• Thin-Film Batteries
• Printed Batteries
• Solid-State Chip Batteries

Based on Type, the market is segmented into Chemical Batteries, Thin-Film Batteries, Printed Batteries, and Solid-State Chip Batteries. In 2021, the market for chemical batteries was estimated to be the largest in terms of growth and revenue. Lithium-ion batteries have become the standard power source in the majority of applications due to their capacity to offer the most power per unit of mass and volume. When it comes to coulometry, they are the most effective. In other words, it obtains the most power per Watt invested out of a Li-ion battery.

IoT devices with rechargeable lithium-ion batteries are highly common, especially smartphones and smartwatches. Typically, lithium-ion batteries have a high energy density and a low self-discharge rate. They are the most dependable type of rechargeable battery and have a high rate of power retention. IoT devices in particular profit considerably from these batteries’ durability and even customizability, which makes them the most popular ones on the market.

IoT Battery Market, By Rechargeability

• Primary Batteries
• Secondary Batteries

Based on Rechargeability, the market is segmented into Primary Batteries and Secondary Batteries. The primary battery market peaked in 2021. Primary batteries are used in devices that don’t require a lot of power and have a short lifespan. These batteries are being used more frequently in a wide range of applications, including smart packaging, smart cards, home automation, retail, and patches for cosmetic and therapeutic reasons. This is because they self-discharge more quickly than rechargeable thin-film batteries. During the projection timeframe, the primary battery market is anticipated to grow at the highest CAGR.

IoT Battery Market, By Application

• Wearable Devices
• Consumer Electronics
• Healthcare
• Home Automation
• Retail
• BFSI
• Aerospace & Defense
• Industrial
• Agriculture
• Smart Packaging

Based on Application, the market is segmented into Wearable Devices, Consumer Electronics, Healthcare, Home Automation, Retail, BFSI, Aerospace & Defense, Industrial, Agriculture, and Smart Packaging. In 2021, wearable devices remained the market leader. Intelligent gadgets known as wearables can be injected into the user’s body, fastened to clothing, or worn as accessories. Wearables and IoT technology can be combined due to recent technological advancements. People are encouraged to participate in fitness-related activities and track their performance via wearables due to lifestyle factors including obesity.

IoT Battery Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Based on Regional Analysis, the Global IoT Battery Market is classified into North America, Europe, Asia Pacific, Latin America, and MEA. North America is expected to hold the largest share during the forecast period. Due to the presence of some of the biggest global firms, such as Cisco Systems, Texas Instruments, and Intel, this region is a crucial market for batteries used in Internet of Things (IoT)-enabled devices. Several North American businesses are also making batteries for wireless communication systems, smart packaging, smart cards, and wearable technology.

One of the main factors propelling the expansion of the battery market in this region is the rising demand for wearable technology and medical devices. Smart sensors, RFID tags, and smart labels were already found in containers as a result of developments achieved in the North American packaging sector. Printed small batteries are used in smart packaging. Additionally, the development of the thin-film and printed batteries sectors of the North American IoT Battery Market is anticipated to be primarily driven by the increase in demand for smart packaging.

Key Players

The “Global IoT Battery Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as LG Chem Ltd, Duracell Inc, Panasonic Corporation, Ultralife corporation, STMicroelectronics N.V, Samsung SDI Co, Cymbet Corporation, Rocket Electric Co. Ltd, Enfucell OY, SAFT Groupe SA.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• In June 2022, With the release of its new, professional card-sized Battery-Assisted loT Pixel tag, Wiliot is revolutionizing the market for battery-powered tags. Wiliot previously introduced ground-breaking battery-assisted loT Pixel tags. The new Battery-Assisted loT Pixel tag uses the same chip and incredibly power-efficient cloud technologies.
• In May 2022, Powermat Technologies unveiled the Powermat PMT 100 Wireless Power Solution, which was created to satisfy the demands of small internet of things (loT) devices for smart homes, lifestyle, and medical applications.

Ace Matrix Analysis

The ace matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global IoT Battery Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global IoT Battery Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope