As stated by a market professional at P&S Intelligence, the total revenue generated by the lithium-ion battery market was USD 49.6 billion in 2022, and it will grow at a rate of 16.3% in the years to come, to reach USD165.6 billion by 2030.

Rising middle-class populace, altering lifestyle preference, inclination toward the usage of smart electronic devices are the major factors powering the high requirement for lithium-ion batteries for consumer electronics. 

Moreover, governments are supporting digitalization, and promoting the use of numerous electronic devices. Moreover, telecom corporations are focusing on the deployment of 5G for better connectivity.

Get More Insights: Li-Ion Battery Market Revenue Estimation and Growth Forecast Report

Furthermore, the nation’s consumer electronics industry is in matured and has a noticeable share of total revenue all over the world. Moreover, cutting-edge technologies, for example IoT and home automation, will also power the requirement for these batteries in the country.

The unregulated cost of diesel and carbon dioxide emissions are acting as barricades for the usage of diesel generators. 

Consequently, telecom corporations are continually working toward achieving energy-efficient solutions, as fuel expenses comprise 30% of the cost of operations of telecom tower. Therefore, at a number of locations, telecom companies are combining high-competence Li-ion batteries with sources of renewable energy.