Portable Battery Pack (Power Banks) Market: Size, Growth, Regional Analysis, And Market Analysis

Power Bank:

A power bank is a portable battery that includes a circuit to store energy from an input source and vent it when needed. Due to the increased acceptance of digital items, these gadgets have become extremely popular around the world. Furthermore, their particular features, such as portability, plugs, fast charging, and cheap range cost, fuel the demand for power banks among tech-savvy consumers. A power bank is an excellent alternative in a prolonged power outage or an inconsistent electrical supply, as it prevents the gadget from turning off.


Market Growth:

The global Portable Battery Pack (Power Banks) Market was worth USD 6.8 billion in 2019 and is expected to grow at an annual rate of 18.4% from 2020 to 2027. The increase in the adoption of smartphones and other electronic devices, the rising power consumption of electronic devices due to advancements in mobile technologies, the affordability of power banks, and the expansion of the reach of online retail platforms for end-users are all factors contributing to the market's growth. The expanding use of smartphones and tablets is one of the market's major drivers. The decreasing costs of mobile technology have resulted in considerable growth in smartphones in emerging economies such as India, China, and Brazil.


Furthermore, the introduction of 4G networks and the widespread usage of internet services has reduced the efficiency of these gadgets in terms of power consumption. This has resulted in a massive demand for power banks worldwide, propelling the Portable Battery Pack (Power Banks) Market forward.


Regional Analysis:

In 2019, the Asia Pacific region ruled the worldwide portable Battery Pack (Power Banks) Market. The use of power banks in the region is fueled by a growing population, widespread digitization, the availability of affordable power banks, and the penetration of e-commerce in the electronics industry. Due to the growing number of users of electronic devices and the resulting increase in demand for power banks, the Asia Pacific market is likely to see a considerable increase in revenue share over the forecast period.


Due to substantial urbanization and a quickly increasing industrial sector, the Asia Pacific regional market is predicted to grow faster over the forecast period. Furthermore, the APAC region's growing economies, such as China, India, South Korea, and other Southeast Asian nations, are becoming important global industrial hubs.


Key Players:

Anker Innovations (China), AUKEY (China), Xiaomi (China), ADATA (Taiwan), RAVPower (US), GRIFFIN (US), Lenovo (China), mophie (US), AMBRANE (India), and INTEX (India) are the major key players of Portable Battery Pack (Power Banks) Market.

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