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Power Bank Market Insights with Statistics and Growth Prediction 2018 to 2025

07-16-2019 05:18 PM CET | Energy & Environment

Press release from: allied market research

Power Bank Market Insights with Statistics and Growth

The growth of the global power bank market is driven by rising in demand for smartphones across the globe and an increase in sales of power banks on online portals & e-commerce websites. However, factors such as emerging trends of wireless charging and improved battery capacity of electronic devices hamper market growth. On the other hand, the development of solar & hydrogen fuel-based power banks and an increase in the trend of wearable devices are expected to offer lucrative opportunities for market growth.

The Lithium-Ion dominated the global power bank market in the battery type category. By distribution channel, the online segment is anticipated to lead the market throughout the forecast period. The key players are adopting new techniques to provide customers with advanced and innovative product offerings.

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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.

On the basis of region, North America accounts for the largest Power Bank Market Share. The Asia-Pacific region has witnessed a significant rise in the usage of power banks. This trend has encouraged China manufacturers to launch low-priced, high-end power banks. For instance, Xiaomi to introduce a wide range of power banks along with its smartphone offerings. Furthermore, massive sales of smartphones in China and India is the key factor boosting the growth of the market in the Asia-Pacific region. Moreover, power bank manufacturers have focused on tapping the potential in these countries by offerings customer-centric products. Besides, prominent presence of top industry players in Japan and China and their increased focus on developing low-cost wireless products boost the growth of the global power bank market.

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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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 an 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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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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