Wilmington, Delaware, United States, May 18, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global wireless power bank market is projected to grow at a CAGR of 5.8% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 2.4 billion is anticipated for the market in 2031. As of 2023, the market for wireless power banks is expected to close at US$ 1.6 billion.
Wireless power banks are convenient charging solutions for multiple devices. There are different types of wireless power banks available in the market such as magnetic power banks, laptop power banks, and wifi power banks.
Increasing demand for a portable power solution during outdoor activities, travel, and in emergencies, wireless power banks are the ideal solution to keep devices charged.
Increasing adoption of electronic gadgets such as smartphones, laptops, and tablets across the world is expected to fuel the growth of the wireless power bank market.
Increasing disposable income and surging urban population and increased use of power banks to charge smartphones and other devices are expected to spur the demand for wireless power banks during the forecast period.
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Key Takeaways from the Market Study
- As of 2022, the wireless power bank market was valued at over US$ 1.5 billion
- By type, lithium-ion battery to enjoy high demand, as it offers high density and is affordable.
- Based on the application, the smartphones segment generates high revenue
- Online distribution channel segment to gain significant traction
Wireless Power Bank: Key Trends and Opportunistic Frontiers
- Increasing expansion of the e-commerce sector along with the adoption of electronic devices that require fast charging boost the sales of the wireless power banks market
- Increased research & development activities by market players and the addition of fast charging and high capacity power bank with advanced capabilities offers an opportunity for market expansion.
Wireless Power Bank Market: Regional Analysis
- North America is expected to account for the highest market share of the wireless power bank market during the forecast period. An increasing consumer preference and inclination to spend on quality electronics products. The increasing adoption of new mobile technology, smartphones has led to an increase in demand for wireless power banks.
- The increasing availability of wireless power banks with technological advances and the increased popularity of the Internet of Things (IoT) devices drive the market growth
- Asia Pacific is expected to account for a significant market share during the forecast period. the increasing demand for smart devices such as smartphones & tablets and rapid urbanization and digitalization are the main factor that is anticipated to boost the demand for a wireless power bank in the region
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Competitive Landscape
Transparency Market Research has profiled the following players in its global wireless power bank market report:
- Samsung
- Octell
- Kenu
- Energous Corporation
- Intex Technolgy
- Aukey
- Xiaomi
- Zagg Inc
- Xtorm
- Benks
The market players are investing in new product launches, partnerships, strategic collaborations, mergers, and acquisitions to gain competitive advantage. Some specific developments from the hypodermic needles market are as follows:
- Xtrom introduces a magnetic wireless FS4 power bank with a 5.000mAh capacity with next generation charging system. This power bank is fully compatible with the new magnetic wireless charging standard from Apple. This power bank will magnetically snap and attach itself to the back of the iPhone 14 and iPhone 12/13.
- In May 2021 Xiaomi introduced Mi 10000mAh Wireless Power Bank is designed for unprecedented convenience. Qi-certified smartphones will be charged with it without the hassle of plugging and unplugging cords. This wireless power bank offers a seamless power supply with high-quality lithium-ion polymer batteries and is compatible with mainstream smartphones and digital devices. With a capacity of 10,000mAh, it can continuously charge your mobile devices on the go.
- Zagg introduced a power station wireless XL with PD with 10,000mAh internal battery with an 18W USB-C PD port and Lightning input. With an 18W USB-C PD port the iPhone can be charged at the fastest speed with the power station wireless XL portable battery Qi-enabled devices that can be charged anywhere. Qi-enabled iPhones or AirPods can be charged just by putting on a charging surface with just the push of a button
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Wireless Power Bank Market: Key Segments
Battery Type
- Lithium–ion
- Lithium Polymer
Capacity
- Below 8000mAh
- 8000-10000mAh
- Above 10000mAh
Application
- Smart Phone
- Tablets/Laptops
- PCs
- Cameras
- Others
Distribution Channel
- Online
- E-commerce Website
- Company Websites
- Offline
- Hypermarkets/Supermarkets
- Retail Stores
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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