Mobile power bank market size will reach USD 28.5 billion by
New York, USA, Sept. 22, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Mobile Power Bank Market by Capacity, Battery Type, Power Bank Type, Number of Ports and Forecast 2022-2030 ,” the market is expected to acquire a valuation of approximately US$ 28.5 billion by the end of 2030. Furthermore, reports predict the market to thrive at a steady CAGR of over 4.50% during the estimation timeframe.
|Market size by 2030||28.5 billion US dollars|
|CAGR from 2022 to 2030||4.50%|
|Key market opportunities||Useful for charging phones anytime, anywhere|
|Key market drivers|| Expanding the use of electronic gadgets.
Improving the battery limit of electronic gadgets
Expanding adoption of remote charging innovations in consumer electronic gadgets.
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Mobile Power Bank Market Overview:
The mobile power bank market is expected to grow rapidly, witnessing increasing sales of mobile devices such as smartphones and tablets and smartphone accessories. Moreover, falling smartphone prices are expected to impact the growth of the market. Market Research Future (MRFR) expects the global mobile power bank market to reach USD 28.5 billion by 2030, with a CAGR of 4.50% during the review period (2022 – 2030).
Mobile power banks are those compact, lightweight charging devices that can power almost any small portable device. In addition to personal devices such as smartphones and various portable devices, these power banks can charge several small form factor tools and appliances. These devices can recharge mobile phones, tablets, speakers, cameras and laptops using DC and solar panels from anywhere.
Mobile power banks are quite popular among tech-loving adventurers like hikers, campers, and trekkers who need them to power devices like phones, cameras, or GPS trackers on the go. These devices come in various shapes and sizes and can be used to charge multiple electronic devices. In addition, mobile power banks offer fast charging to quickly charge phones on the go.
Mobile power banks have evolved from wired to completely wireless with advancements in wireless technology. Given the popularity of wireless technology, manufacturers have begun to focus on developing wireless charging solutions that promote hassle-free charging. Some have even invaded the contactless power bank rental market, providing a much-needed solution for consumers to transact and connect on the go.
The ease and convenience of these contactless power banks have become a major growth driver. People can download the required application and register with registration information to become a customer. They can then find their nearest electricity tower and link their fingerprints to their bank card, allowing them to use a convenient and safer charging station.
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Digitalization has encouraged the use of smart connected devices and various battery-powered electronics. As a result, the need for USB devices supporting fast charging has increased. Furthermore, technological improvements and portfolio diversification along with the proliferation of wearables and gaming accessories are increasing the market size. The increasing adoption of smartphones and the rise of mobile gaming are impacting the market revenue.
Additionally, rapid investments in the development of storage technology and mobile banks increase their storage efficiency and make them easy to deploy for a variety of end users. These application areas create huge demand and enable the market to generate significant revenue. The growing trend of using contactless biometrics for security, greater access and convenience is set to sustain market shares in the coming years.
Constant improvements in internet connectivity and the advent of 4G networks are making smartphones less efficient in terms of power consumption, which is driving market sales. In addition, the increasing use of social media, gaming and online video streaming on smartphones creates a huge demand for high-power fast charging solutions. On the other hand, security risks are hindering the growth of the market.
Mobile Power Bank Market Segments
The mobile power bank market is segmented by product types, battery types, capacities, applications, and regions. The product type segment is sub-segmented into portable power banks, solar power banks, battery cases, and others. The battery type segment is sub-segmented into lithium-polymer, lithium-ion, and others.
The rated capacity segment is sub-segmented into below 3000 mAh, 3001 mAh-8000 mAh, 8001 mAh-20,000 mAh and above 20,000 mAh. The application segment includes smartphones, tablets, portable media devices and others. The regional segment includes the Americas, MEA, Asia Pacific, Europe and Rest of the World.
Mobile Power Bank Market Geographical analysis
Asia Pacific dominates the global mobile power bank market, witnessing significant demand. Additionally, the growing use of smartphones and other smart gadgets is increasing the market size. The presence of leading mobile power bank manufacturers and energy storage technology providers is driving the growth of the regional market. In addition, many battery manufacturers in the region are positively impacting the growth of the regional market.
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North America is another important market for mobile power banks. Growing demand for advanced mobile power banks and accelerating adoption of advanced energy storage technologies are creating significant opportunities in the market. Moreover, the wider use of consumer electronics and the rapid penetration of wearable devices are impacting the market revenue.
Mobile Power Bank Market Competitive analysis
The highly competitive mobile power bank market has witnessed the presence of several well-established players. These players focus on innovation and improvement in product, service and product innovation. Players engage in strategic initiatives such as collaboration, acquisition, partnership, product and technology launch, and expansion to gain greater competitive share.
They are making significant investments in developing a range of mobile power banks with features such as fastest charging, higher power, higher capacity and light weight. They are also investing in expanding their footprints. For example, on September 2, 2022, Adoozy Power, a startup offering Africa’s first contactless power bank rental network, announced its plans to expand and diversify its business.
As a mobile solutions provider, it allows users to rent smartphone power while on the go. Adoozy Power aims to continue adding new offerings to drive the convenience and value of the on-the-go lifestyle. The company is working to create a true rental network across Africa, using it as a base to solve more problems for its customers.
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Players active in the global mobile power bank market are-
- Lenovo Group Ltd
- Beijing Xiaomi Technology Co. Ltd.
- Microsoft Corporation
- Sony Corporation
- Panasonic Corporation
- Adata Technology Co. Ltd.
- Ambrane India Pvt. Ltd
- Asustek Computer Inc.
- Anker Technology Co. Ltd.
- OnePlus Technology (Shenzhen) Co. Ltd.
- Intex Technologies (India) Ltd.
- UNU Electronics Inc.
- Samsung SDI Co. Ltd
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