Portable Battery Pack Market To Witness Incremental Dollar Opportunity Of US$ 5,000 Mn In The Next 10 Years

Large number of potential mobile phone consumer in the globe are opting for power banks, also known as power battery packs is fairly plausible. Moreover, attraction of smartphone users towards the use of power banks is likely to remain contingent on their lifestyle. The study led by Persistence Market Research reveals that multimedia device & smartphone propagation delivers as a robust distribution network to the power battery packs products. The study reveals that the market for power battery pack globally have secured an estimated nearly US$ 6.5 Bn, in terms of value and anticipated to procure US$ 13.7 Bn by 2024-end, experiencing substantial growth in the revenues by reflecting single-digit CAGR.
The major findings of the report states that the customers are likely to remain more attractive to the power banks with large storage capacity. Further, the report reveals that an estimated 200 Mn units of the power banks with 5000 to 7500 mAh capacity were globally sold in the year 2016. Also, it is forecasted that demand for power banks in foreseeable period is likely to increase at high growth rate, leading market players to increase their product range for 7500 to 10000 mAh as well as more than 10000 mAh capability power banks. More than 10000 capacity power banks are likely to be sold at faster rate by the end of forecast period throughout the world.
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Segmental Analysis of Market
According to their prevalence nowadays, Lithium-ion (Li-ion) power banks are likely to retain its dominance throughout the forecast period, owing to high preference by consumers. Li-ion battery efficiency in transmitting power and charging is anticipated to keep influencing the growth of the global Li-ion power battery packs market. The report forecasts that by the end of forecast period every 2nd power bank, which will be traded will be armed with Li-ion battery. Further, Li-ion battery traction is likely to be contested with increasing inclination towards power banks with Lithium-polymer (Li-polymer). It is anticipated that by the end of forecast period, almost 500 Mn entities of Li-polymer power banks will be sold across the world.
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This release was published on openPR.