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 and charge electronic gadgets like smartphones, tablets, and laptops. Essentially a compact battery pack, it serves as an external power source, especially useful when you’re on the move and away from traditional charging options. Power banks come in various capacities, typically measured in milliampere-hours (mAh), indicating the amount of energy they can store. The higher the mAh rating, the more charge a power bank can hold. Modern power banks often feature multiple output ports and support fast-charging technologies, enabling quicker and more efficient charging of multiple devices simultaneously.
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What are the Growth Prospects and Trends in the Power Bank Industry?
The ubiquitous use of smartphones for a variety of tasks, from communication to entertainment and business, is elevating the need for extended battery life, which represents one of the key factors driving the growth of the market across the globe. The portable nature of power banks makes them ideal for people on the go, be it for travel, outdoor activities, or daily commuting. Innovations in battery technology, fast-charging capabilities, and multi-port options are making power banks more efficient and versatile. Beyond smartphones, the proliferation of tablets, laptops, smartwatches, and other wearable devices is expanding the potential user base for power banks. The rise in online shopping platforms is making it easier for consumers to access a wide range of power bank options, thereby boosting sales. With a variety of models available at different price points, power banks are accessible to a broad spectrum of consumers, thus making it a mass-market product. The increasing pace of life and the need for constant connectivity are making power banks a near-essential lifestyle accessory.
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.
- 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 (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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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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