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Residential Energy Storage Market to triple, reaching USD 35 billion by 2034 at a 13.2% CAGR

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Residential Energy Storage Market to triple, reaching USD 35 billion by 2034 at a 13.2% CAGR

Residential Energy Storage Market Outlook 2025–2034 Luton, Bedfordshire, United Kingdom, June 05, 2025 (GLOBE NEWSWIRE) -- Market Overview and Forecast The global residential energy storage market is poised for a transformative decade, expanding from a valuation of approximately USD 10 billion in 2024 to an estimated USD 35 billion by 2034. This represents a strong Compound Annual Growth Rate (CAGR) of 13.2%, fueled by the increasing need for energy independence, the rapid deployment of renewable energy technologies, and continuous innovation in battery storage solutions. Homeowners around the world are turning to energy storage to offset rising utility costs, contribute to sustainability, and ensure power reliability. Download PDF Brochure: Key Market Drivers Adoption of Renewable Energy and Energy Independence A major factor driving market expansion is the growing global shift toward renewable energy sources like solar and wind. As more homeowners install solar panels, the demand for efficient, cost-effective storage solutions rises. Residential energy storage allows users to store excess energy generated during the day for use at night or during outages, creating energy self-sufficiency. Technological Advancements and Smart Energy Management The industry is undergoing rapid innovation, particularly with the integration of Artificial Intelligence (AI) and the Internet of Things (IoT) into storage systems. These technologies enable real-time monitoring, predictive energy consumption analytics, and improved energy optimization, resulting in better user control and system efficiency. As these advanced solutions become more affordable, consumer adoption rates are expected to surge. Favorable Government Policies Governments worldwide are enacting supportive regulations and incentive programs such as tax credits, rebates, and net metering to promote residential energy storage adoption. These incentives help offset installation costs and encourage homeowners to invest in long-term sustainable energy infrastructure. Rising Energy Prices and Supply Chain Considerations The volatility of energy prices and global supply concerns have further heightened interest in energy security and cost control. Residential storage systems offer a hedge against electricity price fluctuations by allowing homeowners to rely more on stored or self-generated energy. Market Segmentation By Product Type - Lithium-Ion Batteries - Lead-Acid Batteries - Flow Batteries - Sodium-Sulfur Batteries - Others (e.g., Nickel-Cadmium) By Battery Capacity - Less than 5 kWh - 5 kWh to 10 kWh - More than 10 kWh By End User - Single Family Homes - Multi-Family Homes - Residential Units in Urban Areas By System Configuration - AC Coupled Systems - DC Coupled Systems By Grid Connection - Off-Grid - Grid-Tied By Sales Channel - Direct Sales - Online Sales - Wholesale Distribution By Region - North America - Europe - Asia Pacific - Latin America - Middle East & Africa Browse full Report - Segment Analysis By Product Type Lithium-Ion Batteries dominate the market, accounting for nearly 60% of the total share due to their superior energy density, long lifecycle, and declining costs. Technological enhancements, including better safety mechanisms and thermal management, continue to boost their popularity. Lead-Acid Batteries, once prevalent, are now in decline, holding around 25% of the market. Though cost-effective, their shorter lifespan and lower efficiency limit long-term value. Flow Batteries, comprising roughly 5% of the market, offer longer cycles and are well-suited for larger or off-grid installations. These batteries are gaining traction in niche applications due to their safety and deep discharge capabilities. By Battery Capacity Systems in the 5 kWh to 10 kWh range are most popular, addressing the average household's energy needs and representing approximately 50% of the market. Batteries with less than 5 kWh capacity serve smaller homes and emerging markets, while more than 10 kWh systems cater to energy-intensive households, comprising about 20% of the segment. By End User Single-family homes are the primary consumers of residential energy storage, constituting nearly 65% of the demand. These households benefit most from energy autonomy and are major adopters of rooftop solar systems. Multi-family homes hold a 20% share and are slowly increasing adoption through shared systems or community energy projects. Meanwhile, residential units in urban areas account for 15%, with growing potential as cities integrate smarter grid infrastructure and sustainability mandates. By System Configuration and Grid Connection AC-coupled systems lead the configuration segment with a 70% share, favored for their ease of retrofitting and compatibility with existing electrical systems. DC-coupled systems, though accounting for 30%, are gaining favor in new constructions due to their energy efficiency and direct solar integration. On the grid connection front, grid-tied systems dominate with an 80% share, offering benefits like net metering and consistent access to power. Off-grid systems make up 20%, often used in rural or remote areas where grid access is limited or unreliable. By Sales Channel Direct sales account for more than 60% of transactions, allowing manufacturers and vendors to offer personalized consultations and solutions. Online sales are emerging rapidly, representing 25%, driven by the convenience of digital platforms. Wholesale distribution channels make up the remaining 15%, typically supporting bulk purchases for installers and larger projects. Regional Insights Asia-Pacific: Market Leader The Asia-Pacific region commands the largest share, around 45%, due to strong demand from countries like Australia, China, and Japan. This dominance is attributed to rising energy consumption, aggressive renewable energy goals, and supportive governmental policies. Australia's widespread adoption of solar-plus-storage solutions and Japan's technological leadership contribute to regional growth. North America: Rapid Expansion North America holds a 30% market share and is one of the fastest-growing regions with a projected CAGR of 12%. States like California are frontrunners, driven by high utility rates, frequent power outages, and robust policy support. The region's strong infrastructure and consumer awareness are also key enablers. Europe: Policy-Driven Growth Europe contributes 20% to the global market and is expected to maintain steady growth, supported by ambitious decarbonization goals, strong public-private investments, and EU directives on renewable integration. Germany, the UK, and the Netherlands are particularly active in the space. Emerging Markets: Latin America & Middle East Though still in early stages, Latin America and the Middle East present enormous potential due to favorable solar conditions and a growing emphasis on sustainable development. Countries like Brazil and Saudi Arabia are beginning to invest heavily in grid decentralization and storage. However, regulatory and infrastructural challenges could moderate short-term growth. Buy Now : Key Competitors Tesla, Inc. LG Chem Ltd. Panasonic Corporation Sonnen GmbH Samsung SDI Co., Ltd. Fluence Energy, Inc. BYD Company Limited Enphase Energy, Inc. SGIP (Small Generation Incentive Program) Generac Holdings Inc. ABB Ltd. Eaton Corporation plc VARTA AG Delta Electronics, Inc. Nissan Energy Challenges and Market Barriers Despite promising growth prospects, the residential energy storage market faces some hurdles. High initial costs for system purchase and installation remain a key barrier for mass adoption, especially in cost-sensitive markets. While battery prices are falling, the total investment often still deters homeowners. Regulatory inconsistencies also affect deployment. Policies vary widely between countries—and even states—leading to confusion and hesitancy among consumers and businesses. Supply chain disruptions due to geopolitical instability or pandemics can affect the availability and pricing of critical components, challenging manufacturers to meet demand sustainably. Lastly, increasing competitive pressure may reduce profit margins and impact long-term investments in innovation. Recent Developments Among Key Players Tesla, Inc. – Product Innovation In September 2023, Tesla launched the Powerwall 3, introducing improved capacity and efficiency. Integrated with advanced energy management features and seamless compatibility with Tesla solar products, the new release positions Tesla as a frontrunner in the smart home energy segment. The Powerwall 3 is expected to influence market dynamics by prompting competitors to accelerate innovation. LG Chem – Strategic Merger August 2023 saw LG Chem merge with a prominent solar technology firm, enhancing its ability to offer integrated solar-battery solutions. This move strengthens LG's product portfolio and intensifies competition in the combined renewable energy and storage space. The merger signals a shift toward end-to-end solutions in residential markets. Enphase Energy – AI Integration In July 2023, Enphase introduced a storage system enhanced with AI algorithms. These enable intelligent forecasting, load balancing, and energy optimization, empowering homeowners to reduce energy waste and costs. The update underlines the increasing role of AI and data analytics in energy tech. BYD – Manufacturing Expansion in India June 2023 marked BYD's expansion into the Indian market, where it plans to scale production of residential energy systems. This move leverages India's growing clean energy ambitions and supports BYD's strategy to localize manufacturing to meet regional demand efficiently. Generac Holdings – Acquisition of Energy Software Firm In May 2023, Generac acquired a software company specializing in energy management. The acquisition aims to blend backup power hardware with intelligent energy monitoring, enhancing user experience. This reflects an industry-wide pivot toward offering hardware-software hybrid solutions to remain competitive. This report is also available in the following languages : Japanese (住宅用エネルギー貯蔵市場), Korean (주거용 에너지 저장 시장), Chinese (住宅储能市场), French (Marché du stockage d'énergie résidentiel), German (Markt für Energiespeicherung in Wohngebäuden), and Italian (Mercato dell'accumulo di energia residenziale), etc. Request Sample Pages : More Research Finding – Energy-As-A-Cells Market The energy-as-a-service (EaaS) market is valued at approximately $45 billion, reflecting a significant shift towards sustainable energy solutions. The market is projected to grow to $95 billion by 2034, driven by increasing demand for renewable energy, technological advancements, and government regulations promoting decarbonization. This represents a robust Compound Annual Growth Rate (CAGR) of around 8% during the forecast period from 2025 to 2034. Battery Market The global battery market is poised for substantial growth, with an estimated value of $120 billion in 2024. Driven by rising demand for electric vehicles (EVs), renewable energy storage, and portable electronics, the market is projected to reach approximately $250 billion by 2034, reflecting a CAGR of around 8.5% over the forecast period from 2025 to 2034. Thermal Energy Storage TES Market The global Thermal Energy Storage (TES) market is valued at approximately $5.9 billion in 2024, driven by increasing demand for efficient energy management solutions and renewable integration. Projected market value for 2034 is anticipated to reach around $12.5 billion, reflecting robust growth in sustainable energy technologies. This indicates a Compound Annual Growth Rate (CAGR) of about 7.5% during the forecast period from 2025 to 2034. PEM Water Electrolyzers Market The global PEM (Proton Exchange Membrane) water electrolyzers market is projected to reach a value of approximately $1.5 billion in 2024, demonstrating significant growth spurred by the rising demand for clean hydrogen production and advances in renewable energy technologies. As industries focus on decarbonization efforts, the market is forecasted to expand at a compound annual growth rate (CAGR) of 20.5% from 2025 to 2034, potentially reaching around $9 billion by the end of the forecast period. All-Iron Redox Flow Battery Market The global all-iron redox flow battery market is poised for significant growth, valued at approximately $250 million in 2024. Over the forecast period from 2025 to 2034, the market is projected to expand, reaching an estimated value of $1.2 billion by 2034. This robust growth translates to a Compound Annual Growth Rate (CAGR) of about 18.3%. Iron-Chromium ICB Flow Batteries Market The global iron-chromium (ICB) flow battery market is projected to reach a market value of approximately $1.2 billion by 2024, driven by the increasing demand for energy storage solutions in renewable energy applications. Forecasts indicate a robust growth trajectory, with the market anticipated to expand to around $3.5 billion by 2034, reflecting a Compound Annual Growth Rate (CAGR) of 11.3% during the 2025–2034 period. Aluminum Plastic Film for Pouch Lithium Battery Market The global aluminum plastic film market for pouch lithium batteries is valued at approximately $2.3 billion in 2024, driven by the increasing demand for lightweight, durable, and efficient energy storage solutions. The market is projected to grow significantly, reaching around $4.5 billion by 2034, reflecting a Compound Annual Growth Rate (CAGR) of 7.1% from 2025 to 2034. MXene Material Market The global MXene market is valued at approximately $390 million, with projections estimating its growth to around $1.2 billion by 2034. This growth corresponds to a robust Compound Annual Growth Rate (CAGR) of about 12.2% during the forecast period from 2025 to 2034. Energy Storage Lithium-ion Batteries For Frequency Regulation Market The global energy storage market, particularly lithium-ion batteries for frequency regulation, is projected to achieve a market value of approximately $12 billion by 2024. This sector is expected to experience substantial growth, with a projected market value of around $28 billion by 2034. This indicates a robust Compound Annual Growth Rate (CAGR) of about 8.6% during the forecast period from 2025 to 2034. Next Generation Batteries Market The global next-generation batteries market is valued at approximately $9.2 billion in 2024, with projections indicating a significant rise to around $28.7 billion by 2034. This growth reflects a robust Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period from 2025 to 2034. EV Li-ion Battery Market The electric vehicle (EV) lithium-ion battery market is poised for significant growth, with a current market value estimated at approximately $45 billion in 2024. This sector is projected to reach around $110 billion by 2034, driven by increasing demand for electric vehicles and advancements in battery technology. The CAGR for this period is forecasted at 9.1%, reflecting robust expansion amidst rising environmental concerns and a global push towards sustainable transport solutions. Lithium Battery Test Chamber Market The lithium battery test chamber market is anticipated to reach a value of approximately $420 million in 2024. The market is projected to grow at a CAGR of 8.5% from 2025 to 2034, potentially reaching around $1.05 billion by the end of the forecast period. Containerized ESS Energy Storage System Market The global market for containerized Energy Storage Systems (ESS) is poised for significant growth, with a current estimated value of approximately $1.5 billion in 2024. Projections indicate that this market could reach around $4.8 billion by 2034, driven by increasing demand for renewable energy sources and grid stability solutions. The Compound Annual Growth Rate (CAGR) for this period is calculated at around 12%. Lithium Battery Nickel Plated Steel Strips Market The global market for lithium battery nickel plated steel strips is valued at approximately $1.2 billion in 2024, driven by the rising demand for electric vehicles (EVs) and energy storage systems. As the push for renewable energy and sustainable transport accelerates, the market is projected to reach around $2.6 billion by 2034, reflecting significant growth opportunities. Nanocrystalline Ribbons Market The global nanocrystalline ribbons market is projected to reach a value of approximately $1.2 billion in 2024, driven by increasing demand in the electronics and renewable energy sectors. The market is expected to grow significantly, with a projected value of around $2.2 billion by 2034, reflecting a Compound Annual Growth Rate (CAGR) of 6.5% from 2025 to 2034. Nano Copper Powders Market The global nano copper powders market is projected to reach approximately USD 3.5 billion in 2024, driven by increasing demand across electronics, energy storage, and healthcare sectors. The market is anticipated to expand significantly, with a forecasted value of around USD 6.1 billion by 2034, reflecting a Compound Annual Growth Rate (CAGR) of 6.0% during the period from 2025 to 2034. Metal-air Battery Market The global metal-air battery market is valued at approximately $1.2 billion in 2024, driven by increasing demand for energy-efficient solutions and advancements in battery technology. The market is projected to reach around $4.5 billion by 2034, showcasing a robust Compound Annual Growth Rate (CAGR) of 14% during the forecast period from 2025 to 2034. Power Battery Cooling System Market The global power battery cooling system market is valued at approximately $4 billion in 2024, with projections indicating it could reach around $10 billion by 2034. This significant growth reflects a compound annual growth rate (CAGR) of about 9% from 2025 to 2034. Graphene Oxide Powder and Dispersion Market The global graphene oxide powder and dispersion market is valued at approximately $120 million in 2024, with projections indicating a robust growth trajectory, reaching around $350 million by 2034. This suggests a Compound Annual Growth Rate (CAGR) of approximately 11.2% for the forecast period from 2025 to 2034. CONTACT: Irfan Tamboli (Head of Sales) Phone: + 1704 266 3234 Email: sales@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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Residential Energy Storage Market to triple, reaching USD 35 billion by 2034 at a 13.2% CAGR

Residential Energy Storage Market Outlook 2025–2034 Luton, Bedfordshire, United Kingdom, June 05, 2025 (GLOBE NEWSWIRE) -- Market Overview and Forecast The global residential energy storage market is poised for a transformative decade, expanding from a valuation of approximately USD 10 billion in 2024 to an estimated USD 35 billion by 2034. This represents a strong Compound Annual Growth Rate (CAGR) of 13.2%, fueled by the increasing need for energy independence, the rapid deployment of renewable energy technologies, and continuous innovation in battery storage solutions. Homeowners around the world are turning to energy storage to offset rising utility costs, contribute to sustainability, and ensure power reliability. Download PDF Brochure: Key Market Drivers Adoption of Renewable Energy and Energy Independence A major factor driving market expansion is the growing global shift toward renewable energy sources like solar and wind. As more homeowners install solar panels, the demand for efficient, cost-effective storage solutions rises. Residential energy storage allows users to store excess energy generated during the day for use at night or during outages, creating energy self-sufficiency. Technological Advancements and Smart Energy Management The industry is undergoing rapid innovation, particularly with the integration of Artificial Intelligence (AI) and the Internet of Things (IoT) into storage systems. These technologies enable real-time monitoring, predictive energy consumption analytics, and improved energy optimization, resulting in better user control and system efficiency. As these advanced solutions become more affordable, consumer adoption rates are expected to surge. Favorable Government Policies Governments worldwide are enacting supportive regulations and incentive programs such as tax credits, rebates, and net metering to promote residential energy storage adoption. These incentives help offset installation costs and encourage homeowners to invest in long-term sustainable energy infrastructure. Rising Energy Prices and Supply Chain Considerations The volatility of energy prices and global supply concerns have further heightened interest in energy security and cost control. Residential storage systems offer a hedge against electricity price fluctuations by allowing homeowners to rely more on stored or self-generated energy. Market Segmentation By Product Type - Lithium-Ion Batteries - Lead-Acid Batteries - Flow Batteries - Sodium-Sulfur Batteries - Others (e.g., Nickel-Cadmium) By Battery Capacity - Less than 5 kWh - 5 kWh to 10 kWh - More than 10 kWh By End User - Single Family Homes - Multi-Family Homes - Residential Units in Urban Areas By System Configuration - AC Coupled Systems - DC Coupled Systems By Grid Connection - Off-Grid - Grid-Tied By Sales Channel - Direct Sales - Online Sales - Wholesale Distribution By Region - North America - Europe - Asia Pacific - Latin America - Middle East & Africa Browse full Report - Segment Analysis By Product Type Lithium-Ion Batteries dominate the market, accounting for nearly 60% of the total share due to their superior energy density, long lifecycle, and declining costs. Technological enhancements, including better safety mechanisms and thermal management, continue to boost their popularity. Lead-Acid Batteries, once prevalent, are now in decline, holding around 25% of the market. Though cost-effective, their shorter lifespan and lower efficiency limit long-term value. Flow Batteries, comprising roughly 5% of the market, offer longer cycles and are well-suited for larger or off-grid installations. These batteries are gaining traction in niche applications due to their safety and deep discharge capabilities. By Battery Capacity Systems in the 5 kWh to 10 kWh range are most popular, addressing the average household's energy needs and representing approximately 50% of the market. Batteries with less than 5 kWh capacity serve smaller homes and emerging markets, while more than 10 kWh systems cater to energy-intensive households, comprising about 20% of the segment. By End User Single-family homes are the primary consumers of residential energy storage, constituting nearly 65% of the demand. These households benefit most from energy autonomy and are major adopters of rooftop solar systems. Multi-family homes hold a 20% share and are slowly increasing adoption through shared systems or community energy projects. Meanwhile, residential units in urban areas account for 15%, with growing potential as cities integrate smarter grid infrastructure and sustainability mandates. By System Configuration and Grid Connection AC-coupled systems lead the configuration segment with a 70% share, favored for their ease of retrofitting and compatibility with existing electrical systems. DC-coupled systems, though accounting for 30%, are gaining favor in new constructions due to their energy efficiency and direct solar integration. On the grid connection front, grid-tied systems dominate with an 80% share, offering benefits like net metering and consistent access to power. Off-grid systems make up 20%, often used in rural or remote areas where grid access is limited or unreliable. By Sales Channel Direct sales account for more than 60% of transactions, allowing manufacturers and vendors to offer personalized consultations and solutions. Online sales are emerging rapidly, representing 25%, driven by the convenience of digital platforms. Wholesale distribution channels make up the remaining 15%, typically supporting bulk purchases for installers and larger projects. Regional Insights Asia-Pacific: Market Leader The Asia-Pacific region commands the largest share, around 45%, due to strong demand from countries like Australia, China, and Japan. This dominance is attributed to rising energy consumption, aggressive renewable energy goals, and supportive governmental policies. Australia's widespread adoption of solar-plus-storage solutions and Japan's technological leadership contribute to regional growth. North America: Rapid Expansion North America holds a 30% market share and is one of the fastest-growing regions with a projected CAGR of 12%. States like California are frontrunners, driven by high utility rates, frequent power outages, and robust policy support. The region's strong infrastructure and consumer awareness are also key enablers. Europe: Policy-Driven Growth Europe contributes 20% to the global market and is expected to maintain steady growth, supported by ambitious decarbonization goals, strong public-private investments, and EU directives on renewable integration. Germany, the UK, and the Netherlands are particularly active in the space. Emerging Markets: Latin America & Middle East Though still in early stages, Latin America and the Middle East present enormous potential due to favorable solar conditions and a growing emphasis on sustainable development. Countries like Brazil and Saudi Arabia are beginning to invest heavily in grid decentralization and storage. However, regulatory and infrastructural challenges could moderate short-term growth. Buy Now : Key Competitors Tesla, Inc. LG Chem Ltd. Panasonic Corporation Sonnen GmbH Samsung SDI Co., Ltd. Fluence Energy, Inc. BYD Company Limited Enphase Energy, Inc. SGIP (Small Generation Incentive Program) Generac Holdings Inc. ABB Ltd. Eaton Corporation plc VARTA AG Delta Electronics, Inc. Nissan Energy Challenges and Market Barriers Despite promising growth prospects, the residential energy storage market faces some hurdles. High initial costs for system purchase and installation remain a key barrier for mass adoption, especially in cost-sensitive markets. While battery prices are falling, the total investment often still deters homeowners. Regulatory inconsistencies also affect deployment. Policies vary widely between countries—and even states—leading to confusion and hesitancy among consumers and businesses. Supply chain disruptions due to geopolitical instability or pandemics can affect the availability and pricing of critical components, challenging manufacturers to meet demand sustainably. Lastly, increasing competitive pressure may reduce profit margins and impact long-term investments in innovation. Recent Developments Among Key Players Tesla, Inc. – Product Innovation In September 2023, Tesla launched the Powerwall 3, introducing improved capacity and efficiency. Integrated with advanced energy management features and seamless compatibility with Tesla solar products, the new release positions Tesla as a frontrunner in the smart home energy segment. The Powerwall 3 is expected to influence market dynamics by prompting competitors to accelerate innovation. LG Chem – Strategic Merger August 2023 saw LG Chem merge with a prominent solar technology firm, enhancing its ability to offer integrated solar-battery solutions. This move strengthens LG's product portfolio and intensifies competition in the combined renewable energy and storage space. The merger signals a shift toward end-to-end solutions in residential markets. Enphase Energy – AI Integration In July 2023, Enphase introduced a storage system enhanced with AI algorithms. These enable intelligent forecasting, load balancing, and energy optimization, empowering homeowners to reduce energy waste and costs. The update underlines the increasing role of AI and data analytics in energy tech. BYD – Manufacturing Expansion in India June 2023 marked BYD's expansion into the Indian market, where it plans to scale production of residential energy systems. This move leverages India's growing clean energy ambitions and supports BYD's strategy to localize manufacturing to meet regional demand efficiently. Generac Holdings – Acquisition of Energy Software Firm In May 2023, Generac acquired a software company specializing in energy management. The acquisition aims to blend backup power hardware with intelligent energy monitoring, enhancing user experience. This reflects an industry-wide pivot toward offering hardware-software hybrid solutions to remain competitive. This report is also available in the following languages : Japanese (住宅用エネルギー貯蔵市場), Korean (주거용 에너지 저장 시장), Chinese (住宅储能市场), French (Marché du stockage d'énergie résidentiel), German (Markt für Energiespeicherung in Wohngebäuden), and Italian (Mercato dell'accumulo di energia residenziale), etc. Request Sample Pages : More Research Finding – Energy-As-A-Cells Market The energy-as-a-service (EaaS) market is valued at approximately $45 billion, reflecting a significant shift towards sustainable energy solutions. The market is projected to grow to $95 billion by 2034, driven by increasing demand for renewable energy, technological advancements, and government regulations promoting decarbonization. This represents a robust Compound Annual Growth Rate (CAGR) of around 8% during the forecast period from 2025 to 2034. Battery Market The global battery market is poised for substantial growth, with an estimated value of $120 billion in 2024. Driven by rising demand for electric vehicles (EVs), renewable energy storage, and portable electronics, the market is projected to reach approximately $250 billion by 2034, reflecting a CAGR of around 8.5% over the forecast period from 2025 to 2034. Thermal Energy Storage TES Market The global Thermal Energy Storage (TES) market is valued at approximately $5.9 billion in 2024, driven by increasing demand for efficient energy management solutions and renewable integration. Projected market value for 2034 is anticipated to reach around $12.5 billion, reflecting robust growth in sustainable energy technologies. This indicates a Compound Annual Growth Rate (CAGR) of about 7.5% during the forecast period from 2025 to 2034. PEM Water Electrolyzers Market The global PEM (Proton Exchange Membrane) water electrolyzers market is projected to reach a value of approximately $1.5 billion in 2024, demonstrating significant growth spurred by the rising demand for clean hydrogen production and advances in renewable energy technologies. As industries focus on decarbonization efforts, the market is forecasted to expand at a compound annual growth rate (CAGR) of 20.5% from 2025 to 2034, potentially reaching around $9 billion by the end of the forecast period. All-Iron Redox Flow Battery Market The global all-iron redox flow battery market is poised for significant growth, valued at approximately $250 million in 2024. Over the forecast period from 2025 to 2034, the market is projected to expand, reaching an estimated value of $1.2 billion by 2034. This robust growth translates to a Compound Annual Growth Rate (CAGR) of about 18.3%. Iron-Chromium ICB Flow Batteries Market The global iron-chromium (ICB) flow battery market is projected to reach a market value of approximately $1.2 billion by 2024, driven by the increasing demand for energy storage solutions in renewable energy applications. Forecasts indicate a robust growth trajectory, with the market anticipated to expand to around $3.5 billion by 2034, reflecting a Compound Annual Growth Rate (CAGR) of 11.3% during the 2025–2034 period. Aluminum Plastic Film for Pouch Lithium Battery Market The global aluminum plastic film market for pouch lithium batteries is valued at approximately $2.3 billion in 2024, driven by the increasing demand for lightweight, durable, and efficient energy storage solutions. The market is projected to grow significantly, reaching around $4.5 billion by 2034, reflecting a Compound Annual Growth Rate (CAGR) of 7.1% from 2025 to 2034. MXene Material Market The global MXene market is valued at approximately $390 million, with projections estimating its growth to around $1.2 billion by 2034. This growth corresponds to a robust Compound Annual Growth Rate (CAGR) of about 12.2% during the forecast period from 2025 to 2034. Energy Storage Lithium-ion Batteries For Frequency Regulation Market The global energy storage market, particularly lithium-ion batteries for frequency regulation, is projected to achieve a market value of approximately $12 billion by 2024. This sector is expected to experience substantial growth, with a projected market value of around $28 billion by 2034. This indicates a robust Compound Annual Growth Rate (CAGR) of about 8.6% during the forecast period from 2025 to 2034. Next Generation Batteries Market The global next-generation batteries market is valued at approximately $9.2 billion in 2024, with projections indicating a significant rise to around $28.7 billion by 2034. This growth reflects a robust Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period from 2025 to 2034. EV Li-ion Battery Market The electric vehicle (EV) lithium-ion battery market is poised for significant growth, with a current market value estimated at approximately $45 billion in 2024. This sector is projected to reach around $110 billion by 2034, driven by increasing demand for electric vehicles and advancements in battery technology. The CAGR for this period is forecasted at 9.1%, reflecting robust expansion amidst rising environmental concerns and a global push towards sustainable transport solutions. Lithium Battery Test Chamber Market The lithium battery test chamber market is anticipated to reach a value of approximately $420 million in 2024. The market is projected to grow at a CAGR of 8.5% from 2025 to 2034, potentially reaching around $1.05 billion by the end of the forecast period. Containerized ESS Energy Storage System Market The global market for containerized Energy Storage Systems (ESS) is poised for significant growth, with a current estimated value of approximately $1.5 billion in 2024. Projections indicate that this market could reach around $4.8 billion by 2034, driven by increasing demand for renewable energy sources and grid stability solutions. The Compound Annual Growth Rate (CAGR) for this period is calculated at around 12%. Lithium Battery Nickel Plated Steel Strips Market The global market for lithium battery nickel plated steel strips is valued at approximately $1.2 billion in 2024, driven by the rising demand for electric vehicles (EVs) and energy storage systems. As the push for renewable energy and sustainable transport accelerates, the market is projected to reach around $2.6 billion by 2034, reflecting significant growth opportunities. Nanocrystalline Ribbons Market The global nanocrystalline ribbons market is projected to reach a value of approximately $1.2 billion in 2024, driven by increasing demand in the electronics and renewable energy sectors. The market is expected to grow significantly, with a projected value of around $2.2 billion by 2034, reflecting a Compound Annual Growth Rate (CAGR) of 6.5% from 2025 to 2034. Nano Copper Powders Market The global nano copper powders market is projected to reach approximately USD 3.5 billion in 2024, driven by increasing demand across electronics, energy storage, and healthcare sectors. The market is anticipated to expand significantly, with a forecasted value of around USD 6.1 billion by 2034, reflecting a Compound Annual Growth Rate (CAGR) of 6.0% during the period from 2025 to 2034. Metal-air Battery Market The global metal-air battery market is valued at approximately $1.2 billion in 2024, driven by increasing demand for energy-efficient solutions and advancements in battery technology. The market is projected to reach around $4.5 billion by 2034, showcasing a robust Compound Annual Growth Rate (CAGR) of 14% during the forecast period from 2025 to 2034. Power Battery Cooling System Market The global power battery cooling system market is valued at approximately $4 billion in 2024, with projections indicating it could reach around $10 billion by 2034. This significant growth reflects a compound annual growth rate (CAGR) of about 9% from 2025 to 2034. Graphene Oxide Powder and Dispersion Market The global graphene oxide powder and dispersion market is valued at approximately $120 million in 2024, with projections indicating a robust growth trajectory, reaching around $350 million by 2034. This suggests a Compound Annual Growth Rate (CAGR) of approximately 11.2% for the forecast period from 2025 to 2034. CONTACT: Irfan Tamboli (Head of Sales) Phone: + 1704 266 3234 Email: sales@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Connected Intelligence Redefined: Surge in IoT-Powered Cellular Connectivity Global Networks Accelerate with the Rise of Real-Time Device-to-Device Communication

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Connected Intelligence Redefined: Surge in IoT-Powered Cellular Connectivity Global Networks Accelerate with the Rise of Real-Time Device-to-Device Communication

Rapid advancements in 5G infrastructure and growing demand for real-time data are fueling widespread adoption of cellular IoT. Pune, June 05, 2025 (GLOBE NEWSWIRE) -- Cellular IoT Market Size Analysis: 'The SNS Insider report indicates Cellular IoT Market size was valued at USD 5.78 billion in 2023 and is estimated to reach USD 43.90 billion by 2032, growing at a CAGR of 25.4% during the forecast period of 2024–2032.'Get a Sample Report of Cellular IoT Market@ Major Players Analysis Listed in this Report are: Qualcomm Incorporated Sierra Wireless Nordic Semiconductor ASA Cisco Systems, Inc. Semtech Verizon Communications Inc. Microsoft Corporation Telefonaktiebolaget LM Ericsson Huawei Technologies Co. Ltd. AT&T Inc. Tata Communications Fibocom Wireless Inc. Quectel Wireless Solutions Co., Ltd In the U.S., growth is driven by early 5G deployment, high IoT adoption in automotive and energy sectors, and strong tech infrastructure. The U.S. Cellular IoT market was valued at USD 1.42 billion in 2023 and is projected to reach USD 9.20 billion by 2032, growing at a CAGR of 23.15% during 2024–2032. Cellular IoT Market Report Scope: Report Attributes Details Market Size in 2023 US$ 5.78 Billion Market Size by 2032 US$ 43.90 Billion CAGR CAGR of 25.4 % From 2024 to 2032 Base Year 2023 Forecast Period 2024-2032 Historical Data 2020-2022 Key Segments • By Component (Hardware, Software)• By Technology (2G, 3G, 4G, 5G)• By End-Use (Agriculture, Automotive & Transportation, Consumer Electronics, Energy, Environment Monitoring, Healthcare, Retail, Smart Cities, Others) Key Growth Drivers Growing Adoption of 5G and LPWAN Technologies Accelerates Cellular IoT Market Growth Do you have any specific queries or need any customization research on Cellular IoT Market, Make an Enquiry Now@ By Component: Hardware Dominates While Software Grows Fastest The hardware segment dominated the Cellular IoT market in 2023 and accounted for a significant revenue share, due to the continued use of IoT hardware such as modules, chipsets, sensors, and embedded SIMs. As the number of connected devices deployed continues to expand, the requirement for reliable, scalable hardware increases. Continued growth fueled by innovations in edge devices and low-power modules The software segment is expected to achieve the fastest CAGR during 2024–2032. This growth is supported by the increasing demand for IoT platforms, security solutions, and device management systems. When cellular IoT solutions scale, they need software that orchestrates the enormous device fleets, allows powerful real-time analytics, and maintains the security of mobile networks across many verticals. By Technology: 4G Leads, While 5G Accelerates Fastest The 4G segment dominated the market and accounted for a significant revenue share in 2023. As 4G is well established and available most everywhere, with plentiful bandwidth and a mature ecosystem. It is broadly used in meters, fleet management, and industrial monitoring. The cost-efficient and high-performance trait of 4G is what makes it the perfect match for mass IoT deployment. By 2032, the 5G segment is anticipated to experience the fastest CAGR. The ultra-low latency, high bandwidth, and network slicing capabilities of 5G render it ideal for mission-critical use cases like self-driving cars, remote surgeries, and complex robotics. As 5G networks mature worldwide, they will exponentially drive next-gen cellular IoT use an Enterprise-User PDF of Cellular IoT Market Analysis & Outlook 2024-2032@ By End-Use: Energy Sector Dominates, Automotive & Transportation Surges Fastest The energy sector dominated the market in 2023 and accounted for a significant revenue share, owing to the extensive use in smart grid monitoring, renewable energy optimization, and asset tracking in remote areas. The monitoring of data in real time will enable utility providers to lower the loss of electricity, find any faults in a matter of record times, a nicer experience of service delivery for the general public. As more variable distributed energy resources and smart metering are adopted, cellular IoT has become an integral part of energy management. The automotive & transportation industry is estimated to register the fastest CAGR during the forecast period. Connected vehicles, real-time traffic analytics, and logistics optimization all benefit from cellular IoT. Some of the factors that would assist the segment's growth over the forecast period include the rising investments in vehicle-to-everything (V2X) technology and autonomous mobility solutions. Regional Outlook: North America Leads, Asia-Pacific Accelerates Fastest North America dominated the global Cellular IoT market and accounted for 36% of revenue share in 2023, riding the wave of 5G adoption and use cases, as well as regulatory support for smart technologies and a strong tech infrastructure. This is characterized by the presence of large players and consumer readiness to adopt it. APAC is the fastest-growing region during the forecast period, owing to the rapidly growing urbanization, the increasing automation of industries & advancements associated with government initiatives in countries such as China, India, and South Korea. The regional expansion is driven by the expanding telecom infrastructure and rising investments in smart city projects. Access Complete Report Details of Cellular IoT Market Analysis Report 2024-2032@ Recent Developments in the Cellular IoT Market (2024) May 2024 – Qualcomm launched its new Snapdragon X75 platform, enhancing 5G cellular IoT connectivity with integrated AI capabilities. April 2024 – Huawei introduced a compact IoT module designed for smart meters and wearables, targeting emerging markets. March 2024 – Sierra Wireless partnered with Sony Semiconductor to develop LPWA solutions for large-scale IoT deployments. About Us: SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world. CONTACT: Contact Us: Jagney Dave - Vice President of Client Engagement Phone: +1-315 636 4242 (US) | +44- 20 3290 5010 (UK)Sign in to access your portfolio

Sequans and Soracom Accelerate Global IoT Development with New Evaluation Kits

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