Global Power Bank Market Trends And Strategies Of Major Players In The Power Bank Market 2021-2030
20 Jul, 2021
The power bank market consists of sales of power banks and related services. A power bank or a portable charger enables a user to charge their smartphones, laptop, tablet, and other media devices with a USB-enabled connection. These power banks can be reused multiple times by simply recharging them. There are various types of power banks available in the market which include standard power banks which can be charged using a normal USB port and solar power banks which use sunlight to charge up and contain photovoltaic panels.
Global Power Bank Market Size And Drivers:
The global power bank market is expected to grow from $11.52 billion in 2020 to $12.88 billion in 2021 at a compound annual growth rate (CAGR) of 11.89%. The growth in the power bank market is mainly due to the rising demand and adoption of smartphone globally, increasing electronic device consumption, affordability of power banks, and high sales of power banks through e-commerce websites and various online portals. The market is expected to reach $17.61 billion in 2025 at a CAGR of 8.12%. With the huge rise in urban population, there has been an increase in demand for smartphones and tablets among people across the globe which is generating the higher requirement for power banks to charge these devices.
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Trends In The Global Power Bank Market
Wireless power banks are key emerging trend in the field of power bank market which has a potential for expansion in the future. This will enable people to charge their electronic devices from anywhere with excellent touch less experience. These types of power banks provide faster charging and multiple charging options. The user does not have to take the pain of carrying an extra cable and plugging it in. Many of the brands like Samsung, Xiaomi, Ambrane, and other brands have already started investing in manufacturing wireless chargers for different types of smartphones. In March 2020, Xiaomi, the Chinese multinational electronic company, released its first wireless power bank. That product is Qi certified, with a 2 way fast charging and features 10W fast wireless charging along with an 18W fast charging output port. The wireless power bank will provide ease and convenience to the user.
Global Power Bank Market Segments:
The global power bank market is further segmented based on battery type, price range, application, distribution channel and geography.
By Battery Type: Lithium Ion, Lithium Polymer
By Price Range: Low, Medium, High
By Application: Smart Phone, Tablet, Digital Camera, Laptop, Others By Distribution Channel: Online, Offline
By Geography: The global power bank market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the power bank market in 2020.
Read More On The Report For The Global Power Bank Market At:https://www.thebusinessresearchcompany.com/report/power-bank-global-market-report
Power Bank Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides power bank market overviews, analyzes and forecasts market size and growth for the global power bank market, power bank market share, power bank market players, power bank market segments and geographies, power bank market’s leading competitors’ revenues, profiles and market shares. The power bank market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.