Press release
Portable Battery Pack Market Will Amass US$ 13.7 Billion by 2024
Billions of smartphone users in the world being potential customers for power battery packs or power banks is quite plausible. Nevertheless, compelling smartphone users to own power banks will remain contingent upon their lifestyle. A recent study conducted by Persistence Market Research indicates that smartphone & multimedia device proliferation serves as a strong distribution network for power bank products. According to this study, the global power battery pack market, which is currently valued at an estimated US$ 6.3 billion, will experience substantial increment in revenues by registering 9% CAGR and reach US$ 13.7 billion value by the end of 2024.
Similar to their prevalence today, Lithium-ion (Li-ion) power banks will remain to be the dominant type of power battery packs being preferred by consumers. Efficiency of Li-ion batteries in charging and transmitting power will keep factoring the growth in global demand for Li-ion power battery packs. Through 2024, every second power bank that will be sold globally will be equipped with a Li-ion battery. However, popularity of Li-ion power battery packs will contested with rising preference to Lithium-polymer (Li-polymer) power banks. By 2024-end, nearly 500 million units of Li-polymer power battery packs are anticipated to get consumed, globally.
A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/5213
More than two-third of global power bank revenues amassed between 2016 and 2024 will be accounted by smartphones and mobile phones. Prominence of mobile phones over other multimedia devices is less likely to cease in the future. Leading smartphone manufacturers have also entered the global power battery pack market by offering a range of power bank products, with an intention to specifically cater to their customers. Tablets will remain second-most prominent product for use of power battery packs. In 2016, power battery packs used by tablet users exceeded 150 million units in volume. Over the assessment period, the report projects a healthy growth in global power bank revenues accounted by tablets.
Request to view table of content @ http://www.persistencemarketresearch.com/market-research/portable-battery-pack-market/toc
Additional research highlights compiled in the report include:
• Global demand for high-priced power battery packs will gain traction, compared to low-priced and mid-priced power banks
• Asia-Pacific (APAC) will remain the most lucrative region for production as well as consumption of power battery packs
• The APAC power banks market will be valued over US$ 7.8 billion by the end of 2024
• Majority of key players in global power banks market, which include BYD Company Limited, Simplo Technology Co. Ltd., Sony Corporation, and Panasonic Corporation are based in APAC countries such as China, Taiwan and Japan
• US-based power bank manufacturers such as mophie, Inc., Cheero USA, Inc., Anker Technology Co. Limited., Energizer Holdings, Inc. and Braven LC – INCIPIO Technologies, Inc. are playing an instrumental role in consolidating North America’s presence in global power battery packs market
About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
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