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