Power Bank Market expected to grow to USD 25.16 billion by 2022
NEW YORK, May 15, 2017 /PRNewswire/ -- Highlights
• Power Bank market to exhibit a high growth between 2017 and 2022
• The power bank market is expected to grow at a CAGR of 21.22% between 2017 and 2022 and is likely to be valued at USD 25.16 billion by 2022.
• The key driving factors for the growth of the market include the increasing usage of electronic devices such as smartphones and tablets, technological advancements, and electric outage in certain countries.
• However, the major restraining factors for the growth of this market are improvement in the battery capacity of electronic devices and increasing adoption of wireless charging technology in consumer electronic devices.
Power Bank market to exhibit a high growth between 2017 and 2022
The power bank market is expected to grow at a CAGR of 21.22% between 2017 and 2022 and is likely to be valued at USD 25.16 billion by 2022. The key driving factors for the growth of the market include the increasing usage of electronic devices such as smartphones and tablets, technological advancements, and electric outage in certain countries. However, the major restraining factors for the growth of this market are improvement in the battery capacity of electronic devices and increasing adoption of wireless charging technology in consumer electronic devices.
Market for power banks with a capacity range of 1250015499 mAh expected to grow at a high rate between 2017 and 2022
The market for power banks with a capacity range of 1250015499 mAh is expected to grow at a high rate between 2017 and 2022. The increased battery capacity of mobile devices and laptops require high capacity power banks to recharge these devices; this is expected to drive the growth of the market.
Smartphones to hold the largest share of the overall power bank market between 2017 and 2022
Smartphones hold the largest size of the power bank market; the market for smartphones is expected to grow at a high rate between 2017 and 2022. The increasing penetration of smartphones, along with the extensive use of Internet services, is draining the battery power of smartphones rapidly. Hence, the demand for power banks to run smartphones for a longer duration is increasing in the market.
Europe to be the fastest-growing market for power banks between 2017 and 2022
The market for power banks in Europe is expected to grow at a high rate between 2017 and 2022. The manufacturers in Europe are continuously seeking for new growth opportunities by focusing on new technological developments in the power bank market. In addition, the presence of a large number of techno savvy consumers with high disposable income contributes to the growth of the power bank market in Europe.
The break-up of the profiles of primary participants for the report has been given below.
By Company Type: Tier 1 50%, Tier 2 35%, and Tier 3 15%
By Designation: CLevel Executives 55%, Directors 35%, and Others 10%
By Region: Americas - 25%, Europe 30%, APAC 35%, and RoW 10%
The key players operating in the power bank market include Beijing Xiaomi Technology Co., Ltd. (China), Lenovo Group Ltd. (China), Microsoft Corp. (US), Panasonic Corp. (Japan), Sony Corp. (Japan), ADATA Technology Co., Ltd. (Taiwan), AsusTek Computer Inc. (Taiwan), Ambrane India Pvt. Ltd. (India), Anker Technology Co. Ltd. (US), Intex Technologies (India), OnePlus Technology (Shenzhen) Co., Ltd. (China), and uNu Electronics Inc. (US) Ltd. (India).
Research Coverage:
The research report segments the power bank market on the basis of capacity range, number of USB port, energy source, battery type, application, and region.
The market has been segmented on the basis of capacity range into 5003499 mAh, 35006499 mAh, 65009499mAh, 950012499 mAh, 1250015499 mAh, and above 15500 mAh. On the basis of number of USB port, the power bank market has been classified into one USB port, two USB ports, and more than two USB ports. The power bank market has been segmented on the basis of energy source into electric and solar. The power bank market, on the basis of battery type, has been segmented into Li-ion batteries and Li-polymer batteries. The power bank market has been segmented on the basis of application into smartphones, tablets, portable media devices, digital cameras, laptops, and others (handheld gaming devices, global positioning system (GPS) navigators, e-readers, and smartwatches). The report covers the market in four major geographical regionsthe Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast of the market based on capacity range, number of USB port, energy source, battery type, application, and region have been conducted to give an overall view of the power bank market.
The value chain has been analyzed to provide an in-depth insight into the power bank market.
The major drivers, restraints, opportunities, and challenges for the power bank market have been detailed in this report.
The report includes a detailed competitive landscape, along with and in-depth analysis and revenue of key players.
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