IMARC Group, a leading market research company, has recently released a report titled “Power Bank Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global power bank market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Power Bank Market?
The global power bank market size reached US$ 10.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.3 Billion by 2028, exhibiting a growth rate (CAGR) of 7.22% during 2023-2028.
What is Power Bank?
A power bank is a portable device designed to store electrical energy, which can be used to charge other electronic devices such as smartphones, tablets, and laptops. Comprising a battery enclosed in a case, it comes with one or more USB ports for output and a port for input to recharge the internal battery. Power banks are particularly useful for situations where access to an electrical outlet is limited or unavailable, such as during travel, outdoor activities, or emergencies. They come in various capacities, measured in milliampere-hours (mAh), to cater to different charging needs. Some advanced models also feature fast-charging capabilities, multiple outputs, and even wireless charging functions.
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What are the Growth Prospects and Trends in the Power Bank Industry?
The rising use of smartphones, tablets, and other smart devices that require frequent charging represents one of the key factors driving the growth of the market across the globe. This is further leading to an increased need for portable power sources, which is boosting the demand for power banks. Features like fast-charging, multiple USB ports, and higher storage capacities are becoming more common, which makes power banks more versatile and efficient. Outdoor activities, such as camping, hiking, and long-distance travel often require a reliable power source, which is leading to a rise in demand for rugged, weather-resistant power banks. The falling cost of manufacturing lithium-ion and lithium-polymer batteries, commonly used in power banks, is making these devices more affordable to the masses, which is broadening the market. Online retail platforms are facilitating easy access to a wide range of power banks, which is contributing to increased sales and market penetration. Rapid urbanization and rising disposable incomes in developing economies are resulting in higher adoption rates of smart devices, which in turn fuels the demand for power banks.
Who are the Key Players Operating in the Power Bank Market?
The competitive landscape of the market has also been examined with some of the key players.
- Beijing Xiaomi Technology Co. Ltd.
- Lenovo Group Ltd.
- Microsoft Corporation
- Panasonic Corporation
- Sony Corporation
- Adata Technology Co., Ltd.
- Asustek Computer Inc.
- Ambrane India Pvt. Ltd.
- Anker Technology Co. Ltd.
- Intex Technologies (India) Ltd.
- OnePlus Technology (Shenzhen) Co. Ltd.
- UNU Electronics Inc.
- Samsung SDI Co. Ltd.
What is Included in Market Segmentation?
The report has categorized the market based on product type, battery type, power rating and application.
Breakup by Product Type:
- Portable Power Banks
- Solar Power Banks
- Battery Cases
Breakup by Battery Type:
- Lithium-Ion
- Lithium-Polymer
Breakup by Power Rating:
- Below 3,000 mAh
- 3,001 mAh – 8,000 mAh
- 8,001 mAh – 20,000 mAh
- Above 20,000 mAh
Breakup by Application:
- Smartphones
- Tablets
- Portable Media Devices
- Others
Regional Insights:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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