A power bank is a portable device that is used to charge electronic devices such as cell phones, tablets, and other electronic gadgets. It is typically powered by a rechargeable battery and can be charged through an electrical outlet or USB port. Power banks are an increasingly popular way to stay powered up on the go and provide a convenient way to keep electronic devices charged.
The global power bank market is projected to reach USD 24.51 billion by 2028, at a CAGR of 11.19% from 2021 to 2028. This is due to the increasing demand for portable electronic devices such as smartphones, tablets, and laptops.
The growth of the market is attributed to the rising disposable income, growing demand for energy storage solutions, and increasing adoption of energy-efficient devices. Additionally, the development of advanced power banks with advanced features such as fast charging, high capacity, and low weight is driving the market.
The report further states that the Asia Pacific region is expected to dominate the power bank market due to the rising demand for mobile devices, increasing disposable income, and technological advancements. Moreover, the increasing focus on renewable energy sources is expected to create new opportunities for the market in the region.
The report segments the global power bank market by product type, capacity, application, and region. By product type, the market is divided into lithium-ion power banks and lead-acid power banks. By capacity, the market is divided into >5,000 mAh, 5,000-9,999 mAh, and 10,000-15,000 mAh.
By application, the market is divided into consumer electronics, industrial, and automotive. By region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The major players in the global power bank market include Samsung Electronics, Anker Technology Co. Ltd, Xiaomi Corporation, RAVPower Inc., and Sony Corporation. The report provides an analysis of the competitive landscape and strategies adopted by these players to gain a competitive edge in the market.
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