How Will IoT Add to Micro Battery Market Growth?
The burgeoning demand for wearable devices, escalating usage of compact batteries, and rising adoption of internet of things (IoT) technology in medical devices will fuel the micro battery market growth at 18.4% CAGR during the forecast period (2019–2024). The market stood at $0.418 billion in 2018 and it is projected to reach $1.1 billion by 2024. Further, the increasing adoption of smart meter has become a market trend. It is an electronic device that records electric energy consumption and assists electricity supplier for monitoring and billing by using micro batteries. One of the key factors facilitating the micro battery market growth is the rising adoption of IoT solutions in medical devices. The healthcare sector is swiftly marching toward high-tech solutions, due to the booming geriatric population and increasing prevalence of chronic ailments. For example, medical devices like cardiac monitoring systems and insulin pumps are now connected with IoT to ensure remote monitor...