Categories under the application segment of the micro battery market include automotive, consumer electronics, wearable devices, medical devices, and others (including smart meters and wireless sensor networks). Among these, the medical devices category held the largest market share in 2018, due to the growing installation of micro batteries in devices such as insulin pumps, glucometers, drug delivery systems, and thermometers.

Whereas, the wearable devices category is expected to register the fastest growth throughout the forecast period, owing to the high demand for wearable devices like watches, fitness bands, and headphones. The rechargeability segment of the micro battery industry is bifurcated into rechargeable and non-rechargeable.

Of these, the non-rechargeable category generated the higher revenue in 2018, on account of the low cost of these batteries in comparison to the rechargeable ones. Non-rechargeable batteries are widely used in electronic devices, calculators, and remote-control devices. However, in the coming years, the rechargeable category will display the faster growth due to the longer life span of such storage devices and high demand for memory backup applications.

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Geographically, the Asia-Pacific (APAC) region dominated the micro battery market in 2018 and it is expected to maintain the lead in the forecast years. This can be owed to the escalating demand for medical devices and burgeoning adoption of wearable devices in the region. Additionally, growing enthusiasm for technologically advanced products among adults and increasing innovations in battery technology are expected to propel the market growth.

China, Indonesia, and India are the prime countries driving the regional market, as these generate extensive demand for fitness trackers, primarily by the young population. Thus, the growing demand for medical devices and wearable devices and the increasing installation of smart meters are expected to steer the market in appositive direction in the coming years.