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A memorandum of understanding (MoU) was signed between the Energy Efficiency Services Limited (EESL), an organization under the Indian Government’s Ministry of Power, and the North Bihar Power Distribution Company Limited and South Bihar Power Distribution Company Limited in 2018 for deploying smart meters in around 130 rural areas and towns in the state. Micro batteries are used in these meters in the real-time clocks that allow the operation of these meters during power cuts. When application is taken into consideration, the market is divided into automotive, consumer electronics, wearable devices, medical devices, and others such as smart meters and wireless sensor networks categories. Hence, as a micro battery is a critical energy source for a smart meter, the surging deployment of the latter is predicted to fuel the micro battery market at a CAGR of 18.4% during 2019–2024. Moreover, the revenue of the market is expected to surge from $418.2 million in 2018 to $1.1 billion by 2024...

The CR category recorded the highest growth in the market in the past years. This was because of the numerous applications of the micro batteries in devices such as medical devices, electronic toys, and calculators. These batteries have very low self-discharge rates and high energy densities. When rechargeability is taken into consideration, the market is classified into rechargeable and non-rechargeable batteries. Between them, the non-rechargeable category recorded higher growth in the micro battery market in the past. This is credited to the lower costs of these batteries than the rechargeable ones. Moreover, the non-rechargeable batteries have several major application areas such as remote-control devices, electronic devices, and calculators. In the coming years, the rechargeable battery category is predicted to demonstrate the fastest growth in the forthcoming years, because of the rising requirement for memory backup applications and the longer lifespan of the rechargeable batte...

The global micro battery market had a valuation of $418.2 million in 2018 and is predicted to generate a revenue of $1,100.0 million by 2024. Furthermore, the market will exhibit a CAGR of 18.4% between 2019 and 2024. The increasing usage of wearable devices, the rising integration of the internet of things (IoT) in medical devices, and the soaring usage of compact batteries in healthcare applications are the major factors fueling the progress of the market. The rising incorporation of the IoT in medical devices is an important factor propelling the growth of the micro battery market across the globe. With the soaring population levels and the rising prevalence of chronic diseases in various countries, the healthcare industry is rapidly adopting high-tech solutions. The growing usage of advanced medical devices and wearable electronics is causing huge improvements in patient care and treatment procedures. Moreover, it is massively reducing the healthcare costs.  For example, medic...