Betavoltaic Device Market Forecasts to 2028 – Global Analysis By Type (Nickel, Krypton, Tritium, Other Types), End User (Healthcare, Defense, Aerospace, Other End Users), and By Geography
According to Stratistics MRC, the Global Betavoltaic Device Market is accounted for $1.41 billion in 2020 and is expected to reach $3.36 billion by 2028 growing at a CAGR of 11.5% during the forecast period. High demand for alternative power supply and rising demand from medical sector are driving the market growth. However, the lack of knowledge and the lack of R&D funding for betavoltaic devices are hampering the growth of the market.
The betavoltaic device generates electric current from beta particles such as electrons emitted from a radioactive source and it i a type of nuclear battery that has long life efficiency, and reliable for the operation of the electrical system in an inaccessible and hostile environment.
Based on the end user, the defense segment is going to have lucrative growth during the forecast period as defense forces could use these betavoltaic batteries to power electrical circuits that will protect military systems from tampering by destroying information stored in the systems.
By geography, North America is going to have high growth during the forecast period due to the rapid increasing prevalence of cardiovascular diseases in the U.S., and surging growing adoption of these devices as a substitute power supply for use in hostile conditions in the region.
Some of the key players profiled in the Betavoltaic Device Market include City Labs, Inc, BetaBatt, Inc., Direct Kinetic Solutions, Widetronix and Qynergy Corp.
Estimated Market Size in 2020:
USD 1.41 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 3.36 billion
Tables, Graphs & Figures
Type, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Other Types
End Users Covered:
• Electronics & Communication
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Betavoltaic Device Market is majorly driven by high demand for alternative power supply and rising demand from medical sector.
The defense segment is growing at a highest CAGR owing to usage od betavoltaic batteries to power electrical circuits that will protect military systems from tampering by destroying information stored in the systems.
Asia Pacific dominated with a significant market share due to the factors such as rise in the population and demand from medical sector in the region.
North America market is growing at a highest CAGR owing to the increasing prevalence of cardiovascular diseases in the U.S., and surging growing adoption of these devices as a substitute power supply for use in hostile conditions in the region.
Key players in Betavoltaic Device Market include City Labs, Inc, BetaBatt, Inc., Direct Kinetic Solutions, Widetronix and Qynergy Corp.
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