Never Run Out of Battery Again: Power Bank Market Set to Soar Past USD 24.9 Billion by 2030
The global Power Bank market size is expected to reach USD 24.9 billion by 2030 and exhibit a CAGR of 11.4% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing demand for portable electronic devices, growing reliance on smartphones and tablets, need for uninterrupted power supply during travel or outdoor activities, expansion of e-commerce and online retail channels, technological advancements in power bank designs, rising awareness about energy conservation and sustainability, increasing frequency of power outages in some regions, integration of power bank functionality into other devices, rising disposable income in emerging economies, are fueling the Market’s growth.
Westford, USA, June 22, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research, increasing demand for high-capacity power banks, the emergence of wireless charging technology, integration of fast charging capabilities, the growing popularity of power banks with multiple ports, the introduction of power banks with solar charging options, rising demand for slim and lightweight power banks, adoption of power banks with intelligent power management systems, increasing use of power banks with USB-C and USB-PD support, growing demand for power banks with built-in cables, are the trends that aid in the market’s growth.
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Browse in-depth TOC on “Power Bank Market”
- Pages – 242
- Tables – 78
- Figures – 75
The power bank market refers to the industry that produces and sells portable charging devices used to recharge electronic devices such as smartphones, tablets, and laptops on the go. These compact and portable power banks provide a convenient solution for users to stay connected and powered up while away from traditional power sources.
Prominent Players in Power Bank Market
- Amgen
- Genentech
- Biogen
- Gilead Sciences
- AbbVie
- Johnson & Johnson
- Roche
- Novartis
- Vertex Pharmaceuticals
- Celgene
- Sanofi
- Pfizer
- BioMarin Pharmaceutical
- Alnylam Pharmaceuticals
- Sarepta Therapeutics
- CRISPR Therapeutics
- Sangamo Therapeutics
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Portable Power Banks Demand to Grow Substantially in the Forecast Period
Portable power banks dominated the global market owing to its high convenience. It is also designed to charge a variety of electronic devices, including smartphones, tablets, smartwatches, and more. Their versatility appeals to a broad consumer base.
Consumer Application is the Leading Application Segment
In terms of application, the consumer segment is the leading segment due to the rising adoption of smartphones. In addition, Mobile gaming has experienced significant growth, with more consumers engaging in gaming on their smartphones. Gaming applications often require substantial battery consumption, leading to a higher demand for power banks to extend gameplay sessions.
Asia-Pacific is the leading Market Due to the Large Consumer Base
Region-wise, Asia-Pacific is one of the largest growing markets with a huge consumer base. The countries have experienced rapid smartphone adoption and penetration rates. As smartphones are the primary devices used for communication, entertainment, and internet access, the demand for power banks to support these devices is high.
A recent report thoroughly analyses the major players operating within the Power Bank market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Power Bank.
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Key Developments in Power Bank Market
- In January 2023, Anker partnered with Google to launch the Anker PowerCore 30,000 PD Max, a power bank that is compatible with Google’s Pixel devices
Key Questions Answered in Power Bank Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
Related Reports in SkyQuest’s Library:
Global Mobile Accessories Market
Global Automotive Electronic Control Unit Market
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