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Global Power Banks Industry

Global Power Banks Industry

  • August 2020
  • 578 pages
  • ID: 5896300
  • Format: PDF
  • Global Industry Analysts


Table of Contents


Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

More Time Spent on Mobile Devices Equals More Power Consumed on These Devices. Power Banks Witness Demand Spike by 10.3%

The global market for Power Banks is expected to spike by 10.3% in the year 2020 and thereafter will continue to grow and reach US$17.7 billion by the year 2027, trailing a post COVID-19 CAGR of 11.1% over the analysis period 2020 through 2027. A fallout of COVID-19 is the increased use of smartphone and other digital devices. With the pandemic confining people to their homes, personal electronics usage has increased. The work from home (WFH) culture has further catalyzed the trend. Average time spent on these devices has increased by over 48%. 50% spend their time for communications and social media. 46% spend their time on reading online news. 38% spend their time on online shopping. Increased device usage and power depletion has created new need for convenient battery backup solutions. With physical stores closed and with consumers avoiding visits to retail shops, online platforms are growing in popularity and are enabling widespread promotion and availability of power banks on a global scale, encouraging consumers to instantly place orders and receive delivery without the need to physically visit a retail store. In addition, power outages and interruptions across countries such as India are anticipated to drive people to rely on power banks. Today, virtually all the households across the world, irrespective of the region and socio-economic background, utilize one or more electronic products. Global CE industry is presently witnessing rapid transformational growth, with trends such as digitalization, miniaturization, and mobility proving to be the major forces propelling growth in the marketplace. Handheld devices segment comprising smartphones, feature phones and tablets has been on growth trajectory in almost all parts of the world.

With roll out of innovative models on a regular basis at affordable prices, demand for various CE products is on rise at a noticeable pace in the lucrative Asia-Pacific and Latin American markets, which boast of huge population and a large pool of potential buyers. Booming market for mobile phones and other digital consumer electronic products continues to hold great potential for batteries. Arrival of numerous power hungry consumer electronic devices is spelling opportunities for efficient and long-lasting batteries. Mobile phones and tablet PCs run numerous applications on diverse operating systems reducing the battery life of a device, thereby increasing demand for long lasting and high-power batteries. However, existing battery technologies are unable to bear the significant loads, prompting battery companies to introduce more efficient power banks. These charging accessories have been registering robust demand in recent years, due to increased functionality and usage of advanced digital devices such as mobile handsets, tablets and phablets. The power bank market globally is driven by increasing usage of smartphones, adoption of portable devices and technological advancements. Battery backup in mobile devices with sophisticated functions tends to drain up relatively quickly, which creates a pressing need for accessories that can deliver additional backup such as power banks. Increased purchasing power, fast economic development and enhanced living standards have resulted in widespread proliferation of mobile devices.

The increasing use of Internet and data-related services, adoption of wearable devices and electric outages across various countries are creating a pressing need for power banks keep these devices running. Technological advances and incorporation of sophisticated features in latest versions of smart devices strain battery backup and prompt a large number of consumers to use power banks. The extensive adoption of smart phones and tablets in emerging markets like China, India and Brazil as a result of rising incomes, changing lifestyles and affordability of mobile phones is expected to provide a major boost to the power bank market. Power banks assist users in recharging devices with USB capability. The increasing popularity of mobile apps and social media platforms has pushed the time spend by users on mobile phones, creating strong demand for power banks. The market is further catalyzed by expansion of the e-commerce platform and COVID-19 pandemic that resulted in the transition towards remote learning and the work-from-home option, pushing laptop and power bank sales. In addition, rising mobile phone ownership coupled with proliferation of the Internet and introduction of a large number of apps and websites is driving users to spend a considerable part of their time on smartphones. The trend has created a pressing need for batteries that can last longer.

Competitors identified in this market include, among others,
  • ADATA Technology Co., Ltd.
  • Ambrane India Pvt. Ltd.
  • Anker Innovations Ltd.
  • ASUSTeK Computer, Inc.
  • Beijing Xiaomi Technology Co., Ltd.
  • Intex Technologies (India) Ltd.
  • Lenovo Group Ltd.
  • Microsoft Corporation
  • Oneplus Technology (Shenzhen) Co. Ltd.
  • Panasonic Corporation
  • Portronics Digital Pvt., Ltd.
  • Ravpower Inc.
  • Sony Corporation
  • UIMI Tech.
  • Unu Electronics Inc.

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