Cordless Phone Battery Market Forecast 2023 - 2030
Report ID : CBI_1174 |
| Published Date:
| Format :
| Base Year: | 2022 |
|---|---|
| CAGR: | 8.8% |
| Forecast Year: | 2023 - 2030 |
| Revenue 2022: | $27.93 Bn |
| Revenue 2030: | $54.14 Bn |
Cordless Phone Battery Market Forecast 2023 - 2030
Market Overview :
Cordless Phone Battery Market is estimated to reach over USD 54.14 Billion by 2030 from a value of USD 27.93 Billion in 2022, growing at a CAGR of 8.8% from 2023 to 2030.
Market Definition :
Cordless Phone Battery is a electrical energy source that provide power to cordless phone. Aforementioned battery has multiple charge and discharge cycle with extended lifespan of two to three years. These battery packs have the ability to hold charge for a longer duration depending upon the battery capacity, mainly calculated on the basis of capacity. Moreover, cordless phone battery is designed to offer power efficiently for a particular duration depending upon the usage.
Furthermore, there are listed battery packs manufactured on the basis of different electrolytic compositions, few of them include NiMH, NiCd, and LI-ion. The key features of above mentioned battery include facility to provide mobility to user is thus driving the market growth of cordless phone battery.
Market Dynamics :
Drivers :
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Increasing requirement for long lasting and technologically advanced battery is driving the market growth
Cordless phone battery is employed for application including handsfree communication devices including cordless phones. The key factors attributed towards the growth of cordless phone battery include ease of mobility, wireless connectivity, among others. The ease of mobility during conversation over the phone provides multiple benefits to the consumers including ability to perform multiple tasks, offering of longer duration of talk time, and higher performance factors are promoting the market growth for cordless phone battery.
Moreover, technological advancement in the growth of battery technology including transformation of traditional form of NiCad battery into Li-ion and further introduction of Li-polymer battery is driving the market growth of cordless phone battery market. -
Rising adoption of wireless technology among communication devices is driving the market growth of cordless phone market
Cordless phone is mainly equipped with wireless technology in order to communicate with base station. Cordless phone allows user an ease of mobility and hassle free environment during the talk time. Owing to the aforementioned features, cordless phone is widely in use among the residential and commercial sectors. Improvement in wireless networks including evolutions in the generation of internet from 1G to 5G is proliferating the market growth of cordless phone battery market. Features being offered by current 4G technology include higher data and voice transfer rate, reduced latency, voice over LTE network VoLTE, and others is promoting the demand for cordless phones which is ultimately driving the need for cordless phones battery.
Furthermore, large implementation of energy efficient wireless communications protocols that allows communicating device and base station to communicate efficiently by consuming less power is further driving the market growth for cordless phone battery market. For instance, DECT (Digital Enhanced Cordless Telecommunications), is a wireless standard implied for landline phones, has been giving a boost to the growth of cordless phone battery market.
Restraint :
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Limited life span of battery pack is restraining the market growth
Cordless phones have limited range to communicate depending upon the wireless connection and battery life. A standards cordless phone battery requires 10 hrs of recharge before it is re-used. Moreover, issues including chemical corrosions caused due to extreme temperatures and moistures content in the environment lead to the reduced battery life. Furthermore, with the continuous utilization of battery reduces the overall battery life to 2-3 years and improper handling further reduces the lifespan to 1-2 years. Thus, owing to aforementioned reasons the life span of a battery in cordless phone is limited causing to be a restraining factor for its market growth.
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Ecological concerns associated with the disposal of battery
Cordless phone battery contains set of batteries to store energy for powering of device. Batteries including Lithium ion, Nickel Metal Hydride, and others function on the basis of chemical reactions which are harmful to the environment. Moreover, improper disposal of aforementioned batteries leads to pilling of harmful chemicals in the landfill resulting in polluting riverbeds, underground water, nearby soil, and others.
Now you've replaced your phone batteries, what should you do with the old ones? It's important not to throw them in the bin. Lithium ion batteries- all batteries, for that matter- contain chemicals which are harmful to the environment. When these go to landfill, those chemicals will eventually leak out into the surrounding soil. Many local councils won't take rubbish bags if they have batteries in them. Thus, in the absence of inefficient measures, there are more likely chances of water pollution, causing severe health complications. Therefore, aforementioned factors tend to limit the growth of batteries for cordless phone.
Opportunities :
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Innovation in Li-ion technology is projected to boost market growth of cordless phone battery
Li-ion batteries have gained popularity over these years owing to their key features including high power density and longer lifespan. Li-ion batteries are more energy efficient in comparison to lead acid, Nicad, and NiMH thus contributing significantly to its market growth. Moreover, owing to the lower rate of self-discharge compared to Nicad and NiMH is further expected to drive its market growth during the forecast period.
Cordless Phone Battery Market Report Coverage :
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 54.14 Billion |
| CAGR (2023-2030) | 8.8% |
| By Capacity | 300-600mAh, 600-1200mAh, 1200mAh-1800mAH, and more than 1800mAh |
| By Type | Nickel Metal Hydride (NiMH), Nickel Cadmium (NiCad), and Lithium ion (Li-ion) |
| By Application | Residential and Commercial |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
| Key Players | Panasonic Corp., Samsung SDI Co. Ltd., E-One Moli Energy Corp., Ultralife Corp., Shenzhen Highpower Technology Co., Ltd., GS Yuasa Battery Europe Ltd., GP Batteries International Ltd., Duracell Inc., FDK Corp., Artek Energy, and Energizer Holdings Inc. |
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Download Sample ReportMarket Segmentation :
By Capacity :
The capacity segment is segmented into 300-600mAh, 600-1200mAh, 1200mAh-1800mAH, and more than 1800mAh.
The 600-1200mAh segment accounted for largest market share in the cordless phone battery market in 2022. Owing to key features including compact size and capacity is driving the market growth for this segment. Moreover, aforementioned capacity of battery is widely available in different type including NiCad, NiMH, and Li-ion.
Furthermore, more than 1800mAh capacity of battery will tend to show the fastest growth during the forecast period owing to the growing requirement of higher capacity of batteries for operating multifunction activities including text and messaging services. Moreover, function including illuminated keypad consume power that require a high capacity battery for longer operations is thus expected to promote the market growth of this segment. For instance, Panasonic offers Ultralink, a NiMH type of battery having capacity of 1800mAh.
By Type :
The type of segment is trifurcated into Nickel Metal Hydride (NiMH), Nickel Cadmium (NiCad), and Lithium ion (Li-ion)
Nickel Metal Hydride (NiMH) segment is accounted for holding the largest market share of 43.6% in the year 2022. The key factors attributed towards rise in demand for NiMH battery include its high power density up to 25% more than compared to NiCad batteries. Moreover, key advantage for the rise in adoption of NiMH is owing to less vulnerability towards memory effect since consumer don't have to completely drain the battery before recharging it. Furthermore, in term of environmental factors NiMH battery is more environmentally friendly compared to traditional NiCad battery. However, this battery has high self-discharge rate and requires efficient temperature condition for operation.
Lithium ion (Li-ion) segment is projected to grow at the fastest growth rate during the forecast period. Owing to the factor such as light weight, allows its adoption at the faster rate in comparison to NiCad and NiMH batteries. Moreover, Li-ion batteries have higher power density, which allows them to offer stable performance until discharge. Furthermore, factor including lowest self-discharge rate in comparison to other types of batteries is expected to boost the market growth of Li-ion cordless phones batteries.
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Download Sample ReportBy Application :
The application segment is bifurcated into Residential and Commercial.
Commercial segment accounted for garnering the largest market share in the year 2022. The segment is also anticipated to grow at the fastest growth rate during the forecast period, 2023-30. The key reason for the largest revenue generation of the segment is owing to growing requirements of cordless devices for convenience and mobility. Moreover, better performance offered by wireless devices in comparison to wired sets tends to drive the market growth of the segment during the forecast period.
By Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Regional Growth Insights
Download Sample ReportAsia Pacific accounted for the largest revenue share of USD 10.22 Billion in 2022 and is predicted to reach USD 20.14 Billion in 2030 in the cordless phone battery market. Also, Asia-Pacific region is expected to witness fastest growth at a CAGR of 9.1% during the forecast period, 2023-30. In addition, in the region, the China accounted for the maximum revenue share of 31.60% in the year 2022. China, Japan, and South Korea are contributing significantly to the research and development of battery required for wireless devices. Moreover, owing to the presence of key players including Panasonic Corp., Samsung SDI Co. Ltd., and other China based companies are fuelling the growth of cordless phone battery. In addition, with the growing economy and increasing business activities in the region coupled with rise of commercial space tends to drive the market growth of Cordless Phone Battery. For instance, Knight Frank India, there was a rise in the demand for office space by 25% in Q1 2022, owing to rise in project completion rate by 13% after the pandemic.
Details Countries Growth Insights
Download Sample ReportCordless Phone Battery Market Competitive Landscape:
The landscape of the Cordless Phone Battery market is highly competitive and has been examined in the report, along with complete profiles of the key players operating in the industry. In addition, the surge in innovations, acquisitions, mergers, and partnerships has further accelerated the growth of the Cordless Phone Battery market. Major players in the market include-
- Panasonic Corp.
- Samsung SDI Co. Ltd.
- E-One Moli Energy Corp.
- Ultralife Corp.
- Shenzhen Highpower Technology Co., Ltd.
- GS Yuasa Battery Europe Ltd.
- GP Batteries International Ltd.
- Duracell Inc.
- FDK Corp.
- Artek Energy
- Energizer Holdings Inc.
Recent Developments :
- In July 2023, BCA Industries, Inc. has set up LithiBatt facility for the recycling of LI-ion and lithium-iron-phosphate batteries at the large scale.
Frequently Asked Question
What is a Cordless Phone Battery?+
A cordless phone battery is a battery pack, a source of energy for wireless devices.
What specific segmentation details are covered in the cordless phone battery market report, and how is the dominating segment impacting the market growth?+
The Nickel Metal Hydride (NiMH) segment is accounted to hold largest market share of 43.6% in the year 2022. The key factors attributed towards rise in demand for NiMH battery include its high power density more than compared to NiCad batteries.
What specific segmentation details are covered in the cordless phone battery market report, and how is the fastest segment anticipated to impact the market growth?+
Commercial segment accounted for garnering the largest market share in the year 2022. The segment is also anticipated to grow at the fastest growth rate during the forecast period, 2023-30. The key reason for the largest revenue generation of the segment is owing to growing requirements of cordless devices for convenience and mobility.
Which region is anticipated to witness the highest CAGR during the forecast period, 2023-2030?+
Asia Pacific is anticipated to witness the fastest CAGR during the forecast period due to growing commercial sector and growth of businesses among developing nations.
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