Knowledge Sourcing Intelligence announces the publication of a new report on “Global Power Bank Market – Forecast from 2020 to 2025” to their offering.
Power Banks are portable devices that are considered to be an important accessory that is used to charge portable devices such as smartphones, cameras, and wearables among others. The means of power may be solar or conventional.
According to the report, the Global Power Bank Market is projected to increase at a CAGR of 13.03% over the forecast period 2019-2025.
The global power bank market is anticipated to boom at a noteworthy CAGR throughout the forecast period majorly on the account of rising penetration of smartphones coupled with the growing adoption of other electronic devices. In addition, the primary function of the power banks is to let the users charge their devices USB or wireless capabilities. The growing applications for which smartphones are used such as social media, games, entertainment and online shopping lead to the depletion of battery at a faster rate is also anticipated to propel the demand for power banks due to the limited battery capacity of the smartphones.
On the basis of the type of battery, the global power bank market has been classified into Lithium-ion battery and Lithium-polymer battery. The lithium-ion battery segment is anticipated to hold a significant share in the global power bank market owing to the numerous characteristics of these types of batteries which are high conversion rate, high energy density, and high energy capacity. Additionally, these batteries considerably cheaper than other types which further leads to low production and maintenance costs. Furthermore, due to high voltage capabilities, these are also suitable for laptops also. All these factors collectively contribute towards the significant share of this segment during the coming years.
By application, the global market has been segmented on the basis of digital camera, laptops, portable media devices, smartphones, tablets, wearables, and others. Smartphones are projected to hold a noteworthy share in the global power bank market owing to the extensive use of data via the internet services on smartphones which is the prime factor that contributes to a faster battery drain. Also, the growing penetration of online streaming services is also significantly increasing the usage of smartphones, thus, there is a burgeoning need for sustaining mobile device power. Similarly, the growing travel and tourism are also leading to the high adoption of power banks primarily for its application in smartphones. All these factors are expected to collectively contribute to the growth of this segment during the next five years.
Some of the key players covered as part of the report ADATA Technology Co., Duracell Inc., Griffin Technology, Huawei Device Co. Ltd., Panasonic Corporation, Sony Corporation, and Philips among others.
View a sample of the report or purchase a complete study at https://www.knowledge-sourcing.com/report/power-bank-market
This report segmented the global power bank market on the basis following terms: