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Power Bank Market to Garner $19,404.2 Million by 2025

06-24-2019 03:31 PM CET | IT, New Media & Software

Press release from: Allied Market Research

A power bank is a portable consumer durable containing a rechargeable battery, which can be used for charge mobile phones and tablets. Lithium-ion (Li-ion) and lithium polymer (Li-polymer) are the two most common types of batteries used in power banks, with the former witnessing higher demand. Li-ion batteries exhibit various characteristics such as high energy density and low cost. However, the efficiency of Li-ion batteries decreases with time even when not in use.

Power Bank Market by Battery Type, Power Rating, Distribution Channel, and Price Range: Global Opportunity Analysis and Industry Forecast, 2019 - 2025," the global power bank market was valued at $16,338.0 million in 2017 and is projected to reach at $19,404.2 million by 2025, growing at a CAGR of 2.0% from 2019 to 2025.

The power bank market possesses high growth potential in the wearable electronics industry. The current business scenario is witnessing an increase in the demand for smart wearable devices, particularly in the developing regions such as China, India, and others, due to the upsurge in population and rise in demand for consumer electronics. Companies in this industry are adopting various innovative techniques such as mergers and acquisition to strengthen their business position in the competitive matrix.

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Key Findings of the Power Bank Market:
• 17, the online sub-segment generated the highest revenue in the global power bank marketing 20
• In 2017, the lithium ion segment generated the highest revenue among the other battery types in the global power bank market
• cipated to exhibit the highest CAGR during the forecast periodAPAC is anti

The key players profiled in the power bank market report include Samsung Electronics Co., Ltd., Sony Corporation, Anker, Huawei Technologies, Xiaomi Corporation, Intex, Zagg Inc., GP Batteries, Xtrom, and Lenovo Group Ltd. These key players have adopted strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their power bank market share.

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For instance, In January 2018, Huawei launched new power bank, which provides battery pack that is small and lightweight. It has a capacity of 6,700 mAh and uses lithium-ion batteries. Moreover, In April 2017, Anker Innovations launched new PowerCore+ 26800 power bank, which enables charging of the Nintendo Switch in portable mode, Apples iPad Pro, and a wide variety of USB-C Power Delivery-enabled devices at full speed.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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