In 2021, the global power bank market reached a size of USD 9.60 Billion, and it is projected to experience a revenue compound annual growth rate (CAGR) of 7.3% throughout the forecast period. The growth of the power bank market is attributed to several factors, including the increased adoption of electronic devices and smartphones, the rising power consumption of these devices due to advancements in mobile technology, and the affordability of power banks.
Power banks serve as a convenient solution for recharging various devices like tablets, mobile phones, and other gadgets that feature USB ports. Despite significant technological advancements, the limited battery capacity of tablets and smartphones remains a driving force behind the demand for power banks. Factors such as the number of applications installed on a smartphone and the frequency of usage for activities like social media browsing, online shopping, and food delivery can have a notable impact on the device's battery life.
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Top Companies Operating in the Global Power Bank Market Report:
Xiaomi Corporation, Lenovo Group Limited, Microsoft Corporation, Panasonic Holdings Corporation, Sony Corporation, ADATA Technology Co., Ltd., Ambrane India, Intex Technologies, UNU Electronics Inc., and SAMSUNG SDI CO., LTD.
Major Driving Factors of Power Bank Market:
- Increase in Smartphone and Portable Device Usage: With the rise in smartphone and portable device usage, the demand for power banks has also increased. Power banks provide a portable and convenient way to charge devices on-the-go, making them an essential accessory for many consumers.
- Growing Popularity of Wearable Devices: The popularity of wearable devices such as smartwatches and fitness trackers has also contributed to the growth of the power bank market. These devices require frequent charging, and power banks provide a convenient way to keep them powered up.
- Technological Advancements: Advancements in technology have made power banks more efficient and affordable, making them accessible to a wider range of consumers. Newer power banks offer faster charging speeds, higher capacities, and compatibility with a wide range of devices.
- Increasing Need for Power Backup: Power banks also provide a backup power source in case of emergencies or power outages, making them a useful tool for individuals and businesses alike.
- Growing Trend of Outdoor Activities: Outdoor activities such as camping, hiking, and travel have become increasingly popular, and power banks provide a portable and reliable source of power for these activities.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Battery Type Outlook:
- Lithium-ion
- Lithium Polymer
Power Rating Outlook:
- Up to 3,000 mAh
- 3,001-8,000 mAh
- 8,001-20,000 mAh
- Above 20,000 mAh
Energy Source Outlook:
- Electric
- Solar
Distribution Channel Outlook:
- Online
- Offline
Application Outlook:
- Smart Phone
- Tablet
- Laptop
- Portable Media Device
- Wearable Device
- Digital Camera
- Others
Key Takeaways of the Global Power Bank Market Report:
- A comprehensive overview of the global Power Bank industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Power Bank market.
- Elaborate study of the leading regional markets in the global Power Bank market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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