Power Bank Global Market Report 2021: COVID-19 Growth And Change

Major players in the power bank market are Ambrane India Pvt. Ltd. , ADATA Technology Co. Ltd. , Anker Innovations Technology Co. Ltd. , AsusTeK Computer Inc. , Griffin Technology, Intex Technologies India Ltd.

New York, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Power Bank Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06128251/?utm_source=GNW
, Lenovo Group Ltd., Panasonic Corporation, RAVPower, Sony Corporation, Xiamoi Corporation, AUKEY, Dll Inc., Duracell Inc., Easyacc, iWALK Global, Microsoft Corporation, myCharge, Omnicharge, Syska, TP-Link Technologies Co. Ltd., Uimi Technology Pvt. Ltd., OnePlus Technology Co. Ltd., UNU Electronics Inc, and Samsung SDI Co Ltd.

The global power bank market is expected to grow from $11.52 billion in 2020 to $12.88 billion in 2021 at a compound annual growth rate (CAGR) of 11.89%. The growth is mainly due to the rising demand and adoption of smartphone globally, increasing electronic device consumption, affordability of power banks, and high sales of power banks through e-commerce websites and various online portals. The market is expected to reach $17.61 billion in 2025 at a CAGR of 8.12%.

The power bank market consists of sales of power banks and related services.A power bank or a portable charger enables a user to charge their smartphones, laptop, tablet, and other media devices with a USB-enabled connection.

These power banks can be reused multiple times by simply recharging them. There are various types of power banks available in the market which include, standard power banks which can be charged using a normal USB port, and solar power banks which use sunlight to charge up and contain photovoltaic panels.

The main types of batteries used in power banks are lithium ion and lithium polymer.Lithium polymer batteries are rechargeable batteries that uses soft polymer case for resting of the lithium-ion battery inside it.

Lithium polymer power banks are more compact and lightweight than lithium ion power banks.Lithium ion batteries are a rechargeable batteries that uses lithium ions for the movement of ions from the negative electrode to the positive electrode component of its electrolyte.

These batteries have the capacity of a high voltage and charge storage per unit mass and unit volume.The various price ranges for power banks include low, medium, and high.

The power banks are used for charging various gadgets including smart phone, tablet, digital camera, laptop, and others. The power banks are made available to customers through different sales channels including online and offline.

Asia Pacific was the largest region in the power bank market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Wireless power banks are key emerging trend in the field of power bank market which have a potential for expansion in the future.This will enable people to charge their electronic devices from anywhere with excellent touchless experience.

These types of power banks provide faster charging and multiple charging options.The user does not have to take the pain of carrying an extra cable and plugging it in.

Many of the brands like Samsung, Xiaomi, Ambrane, and other brands have already started investing in manufacturing wireless chargers for different types of smartphones.In March 2020, Xiaomi, the Chinese multinational electronic company, released its first wireless power bank.

That product is Qi certified, with a 2 way fast charging and features 10W fast wireless charging along with an 18W fast charging output port. The wireless power bank will provide ease and convenience to the user.

In March 2021, Xiaomi Group, China-based electronics company acquired ZIMI Corporation for a deal amount of $205 million. Xiaomi stated in its performance announcement that the company acquired a 50.09% stake in ZIMI Corporation. Before this, Xiaomi already owned 49.91% equity in the company. With this transaction, ZIMI Corporation becomes the wholly-owned subsidiary of Xiaomi Group. The deal would enhance the technological competitiveness of Xiaomi Corporation in the 5G market, IoT, and AI sectors. With ZIMI research and development potential, Xiaomi Group would achieve product power standardization, which will help the company to save costs. ZIMI Corporation is a China-based consumer product company engaged in manufacturing smart products such as Internet of Things (IoT) gadgets, mobile accessories, cameras, and speakers among others.

With the huge rise in urban population, there has been an increase in demand for smartphones and tablets among people across the globe which is generating the higher requirement for power banks to charge these devices.According to a report published by Sify Technologies Limited, an India-based information and communications technology company in April 2021, the world is advancing towards the 5G network and smartphone revenue is predicted to increase by more than 13% in the year 2021.

Moreover, according to statista, nearly 1.38 billion smartphones were sold worldwide in 2020 and the numbers are expected to reach to 1.5 billion in 2021. Therefore, increasing sales of smartphones are projected to propel the revenues for the power bank market over the forecast period.

The countries covered in the Power Bank market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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