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According to a report released this month by Markets and Markets, an international market research firm, the global mobile power market is expected to be $10.
7 billion in 2019 and increase to $17.
9 billion by 2024, with a compound annual growth rate of 10.
8%
during the period.
The mobile power market will grow steadily during the forecast period as integrated technologies continue to evolve, various software applications lead to increasing power consumption and decreasing prices of smartphones
.
In addition to smartphones, tablets, portable media players, wearable devices, digital cameras, and other product applications are also adding market opportunities
to the power bank.
In terms of battery type, lithium-ion batteries accounted for the largest share
of the mobile power market in 2018.
With their high energy density, relatively small size, and low production costs and maintenance requirements, lithium-ion batteries will continue to dominate the mobile power market
during the forecast period.
From the perspective of product type, power bank products with more than 2 USB ports will grow
at the highest compound annual growth rate.
Power banks with more than 2 USB ports have safety protection technology and ultra-fast charging technology, and have a high battery capacity to charge
multiple electronic devices at the same time.
These portable chargers also differ in USB port types, such as Type-C USB ports
.
From the perspective of regional market, Asia Pacific held the largest mobile power market share in 2018, followed by North America and Europe
.
Major developing economies in the Asia-Pacific region, such as China and India, have huge market potential
for mobile power.
The growing demand for portable consumer electronics and next-generation electronics in countries such as China, Japan, and South Korea is driving the power bank market
in the Asia-Pacific region.
Asia Pacific is expected to continue to hold the largest market size
during the forecast period.
According to a report released this month by Markets and Markets, an international market research firm, the global mobile power market is expected to be $10.
7 billion in 2019 and increase to $17.
9 billion by 2024, with a compound annual growth rate of 10.
8%
during the period.
The mobile power market will grow steadily during the forecast period as integrated technologies continue to evolve, various software applications lead to increasing power consumption and decreasing prices of smartphones
.
In addition to smartphones, tablets, portable media players, wearable devices, digital cameras, and other product applications are also adding market opportunities
to the power bank.
In terms of battery type, lithium-ion batteries accounted for the largest share
of the mobile power market in 2018.
With their high energy density, relatively small size, and low production costs and maintenance requirements, lithium-ion batteries will continue to dominate the mobile power market
during the forecast period.
From the perspective of product type, power bank products with more than 2 USB ports will grow
at the highest compound annual growth rate.
Power banks with more than 2 USB ports have safety protection technology and ultra-fast charging technology, and have a high battery capacity to charge
multiple electronic devices at the same time.
These portable chargers also differ in USB port types, such as Type-C USB ports
.
From the perspective of regional market, Asia Pacific held the largest mobile power market share in 2018, followed by North America and Europe
.
Major developing economies in the Asia-Pacific region, such as China and India, have huge market potential
for mobile power.
The growing demand for portable consumer electronics and next-generation electronics in countries such as China, Japan, and South Korea is driving the power bank market
in the Asia-Pacific region.
Asia Pacific is expected to continue to hold the largest market size
during the forecast period.
