New York, US, 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 Port, and Forecast 2022-2030”, the market is anticipated to acquire a valuation of approximately USD 28.5 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 4.50% during the assessment timeframe.
Report Scope:
| Report Metric | Details |
| Market Size By 2030 | USD 28.5 Billion |
| CAGR From 2022 to 2030 | 4.50% |
| Key Market Opportunities | Helpful for charging telephones whenever and anyplace |
| Key Market Drivers | Expanding utilization of electronic gadgets. Improvement in the battery limit of electronic gadgets Expanding the reception of remote charging innovation in buyer electronic gadgets. |
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Mobile Power Bank Market Overview:
The mobile power bank market is expected to grow rapidly, witnessing rising sales of mobile devices like smartphones & tablets and smartphone accessories. Moreover, dropping prices of smartphones are anticipated to influence market growth. Market Research Future (MRFR) expects the global mobile power bank market to reach USD 28.5 Billion by 2030, with a 4.50% CAGR 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 like smartphones and various wearables, these power banks can charge several tools and appliances with a small form factor. These devices can recharge cell 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 such as phones, cameras, or GPS trackers, on the go. These devices come in different shapes and sizes, and they can be used to charge multiple electronic devices. Also, mobile power banks offer fast charging to charge phones on the go quickly.
Mobile power banks evolved from wired to completely wireless with advances in wireless technologies. Considering the popularity of wireless technology, makers started to focus on developing wireless charging solutions promoting hassle-free charging capability. Some even forayed into the contactless power bank rental market, bringing a much-needed solution for consumers to transact and connect on the go.
The ease and convenience of these contactless power banks became the main growth driver. People can download the required app and register with sign-up information to become customers. They can then locate their nearest power tower and link their fingerprints to their bank card, which allows them to use a convenient and safer charging station.
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Industry Trends
Digitalization has boosted the use of smart connected devices and various battery-operated electronics. This, as a result, increased the need for USB devices supporting rapid charging. Moreover, technology upgrades and portfolio diversification, alongside the proliferation of wearable devices and gaming accessories, boost the market size. The rising adoption of smartphones and the surge in mobile gaming impact market revenues.
Besides, rapid investments in developing storage technology and mobile banks increase their storage efficiency and make them easily deployable for various end-uses. These application areas create vast demand and allow its market to generate a substantial revenue pocket. The growing trend of leveraging contactless biometrics for security, greater access, and convenience is set to support market shares in the coming years.
Consistent improvements in internet connectivity and the emergence of 4G networks make smartphones less efficient in terms of power consumption, which drives market sales. Besides, the rising use of social media, gaming, and online video streaming on smartphones creates a vast demand for high-power fast-charging solutions. On the other hand, security risks hamper market growth.
Mobile Power Bank Market Segments
The mobile power bank market is segmented into product types, battery types, power ratings, 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 power rating segment is sub-segmented into below 3,000 mAh, 3001 mAh-8,000 mAh, 8,001 mAh-20,000 mAh, and above 20,000 mAh. The application segment comprises smartphones, tablets, portable media devices, and others. The region segment comprises the Americas, MEA, Asia-Pacific, Europe, and the Rest-of-the-World.
Mobile Power Bank Market Geographical Analysis
APAC dominates the global mobile power bank market, witnessing significant demand. Besides, the increasing use of smartphones and other smart gadgets boosts the market size. The presence of leading mobile power bank manufacturers and energy storage technology providers drives the regional market growth. Moreover, many battery manufacturers in the region positively impact the regional market growth.
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North America is another prominent market for mobile power banks. The increasing demand for advanced mobile power banks and the accelerating adoption of advanced energy storage technologies create significant opportunities in the market. Additionally, the higher use of consumer electronics and the rapid penetration of wearables influence market revenues.
Mobile Power Bank Market Competitive Analysis
The highly competitive mobile power bank market witnesses the presence of several well-established players. These players focus on innovations and improvements in product, service, and product innovations. Players incorporate strategic initiatives such as collaboration, acquisition, partnership, product & technology launch, and expansion to gain a larger competitive share.
They make substantial investments in developing a range of mobile power banks with features like the fastest charging, higher output, larger capacity, and lightweight. They also invest in expanding their footprints. For instance, on Sep.02, 2022, Adoozy Power, a startup offering the first contactless power bank rental network in Africa, announced its plans for business expansion and diversification.
As a mobile solutions provider, it enables consumers to rent smartphone power while on the go. Adoozy Power aims to continue adding new offerings further to drive the convenience and value of the on-the-go lifestyle. The company is working on creating a real rental network across Africa at large, using it as a base to solve more issues 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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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
