Increasing Trend of Reliable Charging Options for Smart Gadgets Spur Sales in Power Bank Market, Asia Pacific Emerges as Major Revenue Hub

Increasing Trend of Reliable Charging Options for Smart Gadgets Spur Sales in Power Bank Market, Asia Pacific Emerges as Major Revenue Hub

PR Newswire

ALBANY, N.Y., Oct. 8, 2020

- Global valuation of power bank market to reach US$ 15,994.6 Mn by 2027, portable devices gain wide acceptance among consumers, especially Generation X and millennials on tourism

- Proliferating use of smartphones spurs demand for power banks, notably that operate on electric source; however, use of advanced chipsets in these devices may adversely affect the demand

ALBANY, N.Y., Oct. 8, 2020 /PRNewswire/ -- The drive for power bank devices stems from the need for a reliable charging option for electric gadgets, especially when they need constant charging such as while travelling.

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Analysts at TMR foresee massive demand coming from Generation X and millennials who make extensive use of smartphones and electronic gadgets. Rise in tourism around the world has spurred the prospects of the power bank market.

Globally, the power bank market was worth 376.7 million units in 2018. Clocking a CAGR of 6.5% from 2019 to 2027, the valuation of the market is projected to climb to US$ 15,994.6 Mn by 2027-end.

The major product type in 2018 was portable power banks which is projected to clock CAGR of 6.4% during 2019–2027. Wide availability has further stimulated their sales.

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Key Findings of Power Bank Market

 Explore 229 pages of top-notch research, incisive insights, and detailed country-level projections on Power Bank Market (Product Type - Portable Power Banks, Phone Charging Cases, Solar Power Banks; Capacity - Up to 5,000 mAh, 5,001 mAh - 12,000 mAh, 12,001 mAh - 20,000 mAh, Above 20,000 mAh; Battery Type - Lithium Polymer, Lithium Ion; Port Type - Standard, Type C, DC Power Jack; Application - Smartphone, Tablet/Laptops, PCs, Camera, Others(Bluetooth Speakers, Kindle etc.); Charging Source - Electric, Solar, Hybrid; Distribution Channel - Online Distribution Channel, Offline Distribution Channel, Supermarkets and Hypermarkets, Exclusive Stores, Multiband Retail Stores) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027 at https://www.transparencymarketresearch.com/power-banks-market.html

Power Bank Market: Key Driving Factors and Promising Avenues

Analyze global power banks market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Key Impediments to Power Bank Market Stakeholders

In recent years, manufacturers of smart consumer electronics are giving due attention to their battery capacity. Thus, they are incorporating advanced chipsets in these devices. This has eliminated the need for power banks even when consumer electronics are used for longer duration.

On the other hand,         a number of gadget makers who develop consumer electronics are also developing power banks. Also, rise in power-intensive apps among consumers has fueled the need for power banks.

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The Power Bank Market can be segmented as follows:

By Product Type

By Capacity

By Battery Type

By Port Type

By Application

By Charging Source

By Distribution Channel

By Geography

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