Pune, India -- (SBWIRE) -- 03/13/2018 -- Global Power Bank Market segmented By Charge Capacity (Portable {3000 TO 5000 mAh, 5000 TO 10000 mAh}, Ultra-Portable {10000 mAh, 10000 – 15000 mAh, 15000 – 20000 mAh}, Big Charge, High Charge) , By Product Type (Portable Mobile {Solar Powered, Battery Operated, Multifunctional}, Laptop Power Bank Units, Phone Case), By Distribution Channel (Online Markets, Hypermarkets, Mobile Stores) Geography (North America, Europe, Asia Pacific, South America, Middle East & Africa)
North America Power Bank Market is expected to reach USD8,698.20 million by 2024 from USD1,709.35 million in 2016, at a CAGR of 22.7% in the forecast period 2017 to 2024.
Europe Power Bank Market is expected to reach USD7,759.25 million by 2024 from USD1,430.93 million in 2016, at a CAGR of 23.6% in the forecast period 2017 to 2024.
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Major Players: Global Power Bank Market
The global power bank market is highly concentrated market with major key players and local players to cater the domestic market. AsusTek is dominating the power bank market followed by Xiaomi and Lenovo along with others such as Anker Technology Co. Limited, Microsoft Corp., Panasonic Corporation, Sony Corporation, ADATA Technology Co., Ltd., Intex Technologies (India) Ltd., UNU Electronics Inc., Portronics and Century New Energy Battery Co. Ltd. among other companies.
ASUSTEK:
Established in 1989 and headquartered in Taiwan, China, ASUSTeK Computer Inc. is a computer hardware and consumer electronics company. The company operates its business through the following product categories such as phones, laptops & 2-in-1 PCs, tablets, motherboards, graphics cards, wearable & healthcare, desktop & all-in one PCs, display, networking, sound, home & automotive, peripheral, gaming, servers & workstations, and zenbo. ASUS has become one of the leading motherboard and gaming brand along with the top-three consumer notebook vendor.
XIAOMI:
Founded in 2010 and headquartered at Beijing, China. It is an electronics and software company. Xiaomi develops, designs, and commercializes mobile apps, smartphones, laptops, and other consumer electronics. The company operates its business through product categories such as notebooks, phones, mi TV, smart devices, mi power bank and charging accessories, and audio accessories. The power bank and charging accessories offers various wide ranges of portable chargers and power banks with high range of battery.
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Drivers: Global Power Bank Market
Some of the major factors driving the power bank market are the increase in the purchasing power, deterioration in the prices, growing usage of smart phones, tablets and laptops and technological advancements in power bank.
INCREASE IN PURCHASING POWER
The electronic gadgets have become a necessity of life, due to which there is an increase in the purchasing power of power banks. Growth in the economic development, better standard of living, digitalization, electricity shortage and advancement in the technology are some of the factors which are contributing in the rise of demand of purchasing power of power banks, which is driving the growth of the power bank market.
TECHNOLOGICAL ADVANCEMENTS
Power bank manufacturers are continuously enhancing its features due to the array of technological advancements taking place to make the product more updated, advanced and time consuming. Enhancing advanced technologies in respect of replacement of 2 USB with 3 USB outputs, large battery life, light weighted, multi-port configuration type and many more are being done by the manufacturer.
DETERIORATION IN THE PRICES
The price of the power bank varies from brand to brand, along with its features, specification, usage, technology being used as well as the manufacturing cost. Another reason might be due to the schemes or the offers related to the products each company offers due to growing completion in order to increase their sales or to do a stock clearance. This affects the company's profitability but sometimes might affect company's sales.
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