According to the new market research report "Battery Market for IoT by Type, Rechargeability, End-use Application, and Geography – Global Forecast to 2025", published by MarketsandMarkets™, the Battery Market for IoT is estimated to grow from USD 9.2 billion in 2020 to USD 15.9 billion in 2025; growing at a CAGR of 11.6% from 2020 to 2025. The major factors driving the growth of the market are multi-fold rise in the use of IoT and increase in the adoption of IoT-enabled devices, increase in global demand for wireless communication, surge in R&D activities to develop advanced, flexible, and thin batteries, and rise in demand for thin & flexible batteries used in IoT-enabled devices.

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