Battery for IoT: Powering Next Generation Connected Devices! Market Scope and Growth by Key Players- Panasonic Corp, Duracell Inc., LG Chem Ltd, STMicroelectronics N.V., Ultralife corp, Samsung SDI Co, Cymbet Corp, Enfucell OY, Rocket Electric Co. Ltd., S

Analyzing the current situation of pandemic, Allied market research has published a report titled, "Battery for IoT Market By Type (Printed Batteries, Chemical Batteries, Thin Film Batteries, and Solid State Chip Batteries), Rechargeability (Primary Batteries and Secondary Batteries), and End user (Consumer Electronics, Home Automation, Wearable Devices, BFSI, Industrial, Retail, Agriculture, Aerospace & Defense, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027", which says, the Market is expected to grow at a faster pace by 2027.

Companies covered

Panasonic Corporation, Duracell Inc., LG Chem Ltd, STMicroelectronics N.V., Ultralife corporation, Samsung SDI Co, Cymbet Corporation, Enfucell OY, Rocket Electric Co. Ltd., SAFT Groupe SA and others

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Regions covered

North America (US and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of LATAM) and Middle East and Africa

Segments covered

Type, Rechargeability, End User, and Region

Power and battery could slow advancements of Internet of Things (IoT) technology. So, these IoT based devices need high capacity batteries and long shelf life to hold sufficient power to run a device and not lose power overtime. Thus, battery selection for IoT devices is crucial as they find their use in various industries such as consumer electronics, home automation, wearable devices, BFSI, industrial, retail, agriculture, aerospace & defense, and healthcare. Innovations in next generation technologies would pave the way for better and improved battery for IoT. The global battery for IoT market is experiencing a significant growth, and is expected to grow considerably in next few years.

Covid-19 scenario and analysis:

The global battery for IoT market size has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which has declined the market growth.

Global factories have struggled to manufacture and assemble new battery for IoT as workers are staying at homes and the already available devices in various warehouses cannot be transported, owing to current rules and regulations, which, in turn, has disrupted the global supply chains.

COVID-19 outbreak has made technology one of the priorities for people so demand for battery for IoT in various applications such as healthcare, security, and wearable devices is expected to grow significantly.

The impact of COVID-19 on this market is temporary as just production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for these batteries are expected to gradually increase.

The current scenario is expected to provide opportunities for companies to think about ways of increasing production, research about technologies, and improve the current products.

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Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Increase in adoption of IoT enabled devices, multi fold rise in use of IoT and increase in applications in advanced and portable equipment boost the battery for IoT market growth. However, availability of substitute products and varying raw material prices hinder the market growth. Moreover, increase in demand for wireless communications, rise in demand for thin and flexible batteries, surge in R&D to develop advanced devices, and investments in automation are expected to fuel the market growth in the future.

New product launches to flourish the market

Partnership was carried between General motors and LG Chem to mass produce battery cells for future battery powered electric vehicles. This enables low cost advanced battery solutions. A new battery management technology that measures electrochemical impedance of batteries to evaluate the residual value of lithium ion batteries in devices was developed by Panasonic in the year 2019. It would be used in applications of devices that contain lithium ion battery modules. Thus, these products boost the battery for IoT market growth.

Surge in usage in aerospace & defense industry

To ensure integration and connectivity of aircraft, systems, and people to the internet, IoT technology is being used on a large scale in the aerospace industry. Comprehensive machine data is captured by sensors, which are present in various IoT devices. These sensors are critical and are installed in machines, vehicles, and aerospace & defense equipment. Moreover, airlines can improve their baggage handling and equipment monitoring by using IoT. Thus, there is surge in use of battery for IoT in the aerospace & defense industry, which boosts the battery for IoT market share.

Read More at https://www.alliedmarketresearch.com/battery-for-iot-market-A06866

Key segments covered:

Type

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

Rechargeability

• Primary Batteries
• Secondary Batteries

End users

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

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