Power bank or a portable charger is lithium-ion or lithium-polymer based battery used to charge a variety of electronic devices such as tablets, smartphones, music players and other devices with USB slots. With extensive use of internet on electronic devices and limited capacity of inbuilt batteries, there is a rising demand for an external power source that enables the users to charger their devices on the go.
The growing demand of power bank in a variety of segments such as communication & technology, and medical & military is expected to create opportunities for the power banks market.
Power bank has been witnessing a rising demand from the consumers worldwide, owing to its portability feature and reusability feature upon recharging.
Depending upon the usage, consumers have options to purchase power banks with different capacities. Also, power banks are available in different shapes such as square, rectangular and cylinder and sizes providing users with a variety of choices.
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The rising demand and usage of smartphones, tablets and other digital gadgets are expected to drive the global power banks market. Although the use of power banks is increasing significantly, rapid advancement in battery technology has led to the devices now being manufactured with sufficient battery power to eliminate the use of power banks.
In addition, the power bank manufacturers are facing stiff competition in order to provide high quality products at lower prices to attract consumers. Thus, these factors combined are restricting the global power banks market.
The global power bank can be segmented on the basis of capacity range, namely: up to 2,000 mAh; 2,001 mAh - 5,000 mAh; 5,001 mAh - 10,000 mAh; 10,001 mAh - 20,000 mAh, and above 20,000 mAh. Further, on basis of the number of Universal Serial Bus (USB) ports, the global power bank market is segmented as one, two, or more than two USB ports.
Based on technology, the global power banks market is further segmented into lithium-ion (Li-ion or LIB) and lithium-polymer battery.
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The global power bank market is divided into five major regions which include North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America leads the global power banks market with high awareness regarding technologically advanced products/gadgets, leading to high adoption of power banks.
However, APAC with significant penetration of smartphones and mobile devices by a huge number of consumers is expected to lead the global power banks market in the near future.
Some of the prominent players of the global power banks market include Microsoft Corporation, uNu Electronics Inc., Mophie Inc., Panasonic Corporation, OnePlus, Sony Corporation, Xiaomi Technology Co. Ltd, AdCom, Hitachi Maxell, Ltd., MiPow Limited, Xtorm BV, EassyAcc.com, Inc., Limefuel LLC, Samsung Electronics Co.
Ltd., Anker, GP Batteries International Ltd. And Apacer Technologies, Inc., among others.
Strengthening distribution channel, product innovation, certifying products, and leveraging e-commerce platforms to drive sales are few of the strategies adopted by key players in the global power banks market.
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