The Power Bank market study analyzes each market player encompassed in the market study as per its market share, production footprint, current launches, agreements, ongoing R&D projects, and market strategies. SWOT analysis has been performed in the market study to investigate the strengths, weaknesses, opportunities and threats of each player.
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Increasing competition among smartphone manufacturers to reduce dependency on countries such as China for design solutions amid the coronavirus outbreak will give a boost to the power bank market. This will also reduce forex outgo that regions incur and push innovation and mobile performance boundaries in terms of storage, RAM, and connectivity.
Further, the emergence of advanced wearable accessories such as smart watches, fitness trackers, and health monitors acts as a growth driver for power banks to charge these devices. The global power bank market will continue to present remunerative growth opportunities on the back of an astounding 18% CAGR during the forecast period (2019-2029). Booming digital economies around the world are witnessing multiplying sales of smartphones and smart devices. As these trends gain momentum, power bank manufacturers stand to gather sustained margin growth through 2029.
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Key Takeaways of Power Bank Market Study
- On the basis of capacity, 8,001 mAh – 20,000 mAh accounts for the largest market value share of more than ? of the revenue landscape. Increasing demand for high-performance power banks to recharge multiple smart devices is critical in defining growth of this segment.
- Consumer awareness about alternative energy and reduced carbon emission levels is generating demand for solar power banks. The energy source segment exhibits a stellar 19% CAGR during the forecast period.
- Lithium Ion battery type holds a lion’s share of more than 80% of the total market value. Superior capacity coupled with long battery life can be accredited as growth drivers of this segment.
- Lithium Polymer offers lucrative growth opportunities with a meteoric growth rate of ~19% CAGR through 2029. Consumer demand for convenient power bank size and shape along with fast charging capability is driving the growth of this battery type segment.
- Brick and Mortar stores are set to maintain their supremacy over sales with over ~54% share of global sales. This might show a slight decline in coming quarters owing to nationwide lockdowns but will steady out in the near term. Increasing adoption of power banks in developing economies where physical stores are dominant customer touch points is bolstering growth in this segment.
- E-commerce distribution channels exhibit a sky-rocketing 20% CAGR during the projection period. Digitization of economies across the globe can be accredited the growth of this distribution channel segment.
- East Asia has emerged as the prominent region with over 27% share of the total market value. Countries such as China, and Japan are innovation centres for smart device technologies. Coupled with a tech-savvy population, the region offers profitable future prospects with a 19.3% CAGR between 2019 and 2029.
- Middle east & Africa records the highest growth rate of over 21% CAGR owing to booming digitization of countries and increasing disposable income of millennial consumers.
The Power Bank market report provides the readers with the below-mentioned insights:
- Key trends, including ecological conservation, patented solutions, and globalization.
- Consumption pattern of each segment of the market in every region.
- Detailed study of the factors (positive and negative) impacting the growth of the global Endobronchial Valves market.
- Critical analysis of R&D activities performed by market players to expand their production footprint across various industries.
- Thorough research of effect of the market across various end use industries.
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The Power Bank market report gets rid of the following queries:
- Which end use has the highest rate of consumption and why?
- Which regions are the market players targeting to gain a competitive edge?
- What is the growth forecast of the global market in region?
- What is the Y-o-Y growth rate of the global market?
- Which segment will have the maximum share of the global market by the end of year?
And so on…..
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