Power bank is also known as a portable battery charger. It is used as an external battery, plug-in charger for charging a rechargeable battery or secondary cell of electronic gadgets such as smartphones, laptops and tablets. Various types of power banks are available in the market such as solar chargers, phone case chargers, laptop chargers, and phone/tablet chargers. Power banks come in many different shapes and sizes to suit different budgets and power needs.
Increasing adoption of smart phones coupled with internet services and declining prices of power banks are major factors expected to drive growth of the global power bank market over the forecast period.
On the basis of product, the market is segmented into portable power banks, phone charging cases (battery cases), and solar power banks. The portable power banks segment accounted for highest share in the global market, due to increasing manufacturing rate of portable power banks owing to its low power rating.
On the basis of application, the market is segmented into smart phones, tablets, portable media devices, and others. The smart phone segment accounted for highest CAGR, owing to increasing adoption of smart phones in developed as well as in developing countries.
On the basis of battery type, the market is segmented into lithium-ion and lithium-polymer. lithium-ion segment is accounted for highest CAGR over the forecast period, due to its cost-effectiveness in developing countries such as India and China. Lithium-polymer segment is projected to have largest share in countries especially in the developed regions, owing to its features such as light-weight, slimness, safety as compared to lithium-ion.
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Based on the region the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to have highest market share in terms of revenue over the forecast period, owing to advanced products development, and increasing usage of portable devices such as laptops, smartphones, speakers, etc. in various countries in this region. The market in Asia Pacific is expected to register highest CAGR in terms of revenue, owing to rising adoption of smartphones and major presence of power banks manufacturers in developing countries such as India and China in the region.
Key players operating in the global power banks market include Sony Corporation, Panasonic Corporation, Microsoft Corporation, OnePlus, Xiaomi Inc., SAMSUNG SDI CO.,LTD., Anker Innovations Limited, UNU Electronics Inc.,mophie, inc., and Maxell Asia, Limited.