Power Bank Market Analysis Report:
Power banks are used to provide portable power to charge battery-powered things like mobile phones and other devices that comprise a USB interface. Everything from mobile phones to headphones, MP3 players and portable speakers can be charged via a power bank. They are productively a portable charger. Power banks are available in the market in a range of shapes and sizes to suit many different people and their needs.
Power Bank Market is expected to reach 21.82 billion USD in by 2024, which is a significant increase from 10.9 billion USD in 2019 registering at a high CAGR during the forecast period 2019 – 2024.
Recent Developments:
Ubon, a renowned consumer electronics brand has launched PB-X12 Power King portable power bank. This power bank has 3-in-1 inbuilt cable support and is ten times smaller, 100 times faster and five times more efficient than typical silicon devices that are used for regular charging. The power bank also features a built-in V8, Type-C cable and an iPhone cable.
The LC709501 Power Bank Platform presents engineers with an incredibly integrated single-chip solution on which next-generation power bank devices can be based. The compact board offers industry-leading power density and is highly optimized for the space-constrained next-generation layouts that have already been outlined.
Market Drivers and Restraints:
The present-day lifestyles are no doubt going to result in higher uptake of power bank products over the coming years. The need for better operational efficiency improved user experience, and reliability will mean that the degree of sophistication these products possess will need to be raised. Hence, all these demanding factors will boost the power bank industry in the future.
However, the poor quality of power banks and technological advancements in smartphone batteries could be a few of the significant restrains for the global power bank market.
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Report Segmented as:
By Battery Type
• Lithium-Ion
• Lithium polymer
By Distribution Channel
• Online
• Offline
By Application
• Smartphone
• Tablets
• Laptops
• Camera
• Others
Geographical Segmentation:
The Asia Pacific region held the largest share of the market for power banks in 2018. Significant factors such as increasing adoption of wearables and other consumer electronic products, the presence of prominent manufacturers of power banks, and rising population fuelled the market growth in this region. The other areas having such a demand are North America followed by Europe.
Key market players:
1. Adata
2. Anker Innovations
3. Aukey
4. Xiaomi
5. Ravpower
6. Griffin
7. Lenovo
8. Mophie
9. Ambrane
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Scope of the report
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level.
Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategic activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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