Global Power Banks Market 2016-2020
Market outlook of the global power banks market
Technavio's market research analyst estimates the global market for power banks to grow at a profound CAGR of more than 22% during the forecast period. The increasing penetration of smartphones coupled with the extensive use of internet services via applications installed on such devices is expected to augment the demand for power banks during the forecast period.
The recent shift toward 4G networks is the key driver for the growth of this market. Due to the advent of 4G networks, most users browse the internet for high-quality digital content through their smartphones and tablets. This increase in the usage of mobile data is expected to augment market growth as power banks play a critical role in ensuring frequent battery recharges in the absence of a power source.
Segmentation by product and analysis of the power banks market
Portable power banks
Solar power banks
In this market study, analysts have estimated the portable battery cases segment to dominate the global market for power banks by 2020. The advent of lighter, more powerful, and affordable battery cases is expected to bolster the prospects for growth in this segment during the forecast period.
Geographical segmentation of the power banks market
Technavio's market research analyst has estimated the APAC region to account for more than 43% of the total market share by 2020. The presence of large vendors like Xiaomi, OnePlus, and Sony in this region is an important growth-promoting factor as these vendors provide high-quality power banks at low prices.
Competitive landscape and key vendors
The global power banks market is highly fragmented owing to the presence of numerous small and large vendors. The vendors in this market compete on the basis of price, quality, reputation, distribution, and promotion to gain maximum traction over their competitors during the forecast period.
The leading vendors in the market are -
Other prominent vendors analyzed in this market research are Anker, Apacer Technologies, China BAK Battery, LG, Easy Acc, GP Batteries International, Microsoft, Xiaomi Technology, Sony, Samsung, OnePlus, Flipkart, uNu Electronics, Panasonic, and Zendure.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global power banks market?
What are the key market trends impacting the growth of the power banks market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global power banks market?
Trending factors influencing the market shares of the Americas, APAC, Europe, and ROW
What are the key outcomes of the five forces analysis of the power banks market?
Technavio also offers customization on reports based on specific client requirement.
Global Rechargeable Battery Market 2015-2019
Global Battery Chargers Market 2015-2019
Global Accessories and Peripherals Market for Smartphones and Tablets 2015-2019
Technavio Announces the Publication of its Research Report – Global Power Banks Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Power Banks Market: Hitachi Maxell, Limefuel, Mipow, Mophie and Xtorm
Other Prominent Vendors in the market are: Anker, Apacer Technologies, China BAK Battery, LG, Easy Acc, GP Batteries International, Microsoft, Xiaomi Technology, Sony, Samsung, OnePlus, Flipkart, uNu Electronics, Panasonic, and Zendure.
Commenting on the report, an analyst from Technavio’s team said: “Introduction of smartphones and tablets have changed the way mobile phones are used. More than half of total internet traffic originates from mobile devices. Also, smartphones that have been launched in recent times boast a range of several features such as GPS, camera, and support several high-definition games and apps. Continuous usage of these features and services generally drain the device battery power in a matter of hours. Hence, power banks are used to support extra charge requirements.”
According to the report, one of the key drivers driving this market includes the growing adoption rate of consumer electronic devices, such as smartphones, tablets and laptops. The adoption rate of smart devices has been picking up pace lately.
Further, the report states that a prominent challenge is the market is getting flooded with several inferior quality products. Products offered by low key vendors are generally inferior in quality. This dents consumer confidence on low priced, high quality products offered by other small but quality committed power banks manufacturers.
Hitachi Maxell, Limefuel, Mipow, Mophie, Xtorm, Anker, Apacer Technologies, China BAK Battery, LG, Easy Acc, GP Batteries International, Microsoft, Xiaomi Technology, Sony, Samsung, OnePlus, Flipkart, uNu Electronics, Panasonic, and Zendure.
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