The increased usage of smartphones, tablets, MP3 players, and laptops lead to faster battery consumption compelling the demand for a portable battery power bank source. Adoption of power banks or external batteries is on the rise to charge devices compatible with USB power banks. The portable, battery power bank case, and solar power banks are the major types of power banks in the market. While the portable power banks are compact and charge devices with USB functionality, battery case power banks have batteries enclosed in mobile cases for convenient charging. However, solar power banks use solar rays for charging the device.
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Introduction of low-priced and advanced power banks is one of the major driving factor for this market. However, introduction of wireless charging technology in smartphones and poor battery quality of some power banks are major hindrances for market growth. Nevertheless, the impact of these factors is expected to be minimal due to the introduction of advanced safety features, high capacity, multi-port power banks, and other advanced features.
The report incorporates the study of power banks focusing on various growth prospects and restraints in the market. The study highlights Porters five forces analysis that comprises the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market. The study also depicts the value chain analysis for the power bank market.
The key players operating in the power bank market are Samsung Electronics Co, Ltd, Apacer Technologies, Inc., Panasonic Corporation, Microsoft Corporation, Sony Corporation, Xiaomi Inc., GP Batteries International Ltd, Anker Technology Co. Limited, Oneplus, and Hitachi Maxell Ltd. These companies have adopted strategies such as product launch, R&D, and expansion to increase their market share and geographical presence.
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The power bank market is segmented based on product type, battery type, power ratings, and geographical presence. The product type of power bank is categorized into portable power bank, battery case power bank, and solar power bank. In 2015, portable power bank contributed the highest revenue in the market globally. However, the solar power banks sub-segment is anticipated to exhibit the fastest growth rate during the forecast period.
Based on battery type, the power bank market is sub-segmented into lithium-ion and lithium-polymer. The lithium-ion batteries garnered the highest revenue share in 2015 and are expected to exhibit the same during the forecast period. However, the lithium-polymer batteries are estimated to have the fastest growth rate during the forecast period.
Based on power ratings, the charging power bank market is segmented into below 3,500 mAh, 3,501-20,000 mAh, and above 20,000 mAh. Among these, power bank with power rating 3,501-20,000 mAh dominated the market in terms of spending in 2015 and is projected to continue its dominance throughout the forecast period.
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