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The high capacity power banks market size is forecast to increase by USD7.85 billion at a CAGR of 13.1% between 2023 and 2028. The high capacity power bank market is witnessing significant growth due to several key factors. The decline in prices of high capacity power banks has made them an affordable option for consumers, particularly those who rely on multiple devices throughout the day. With the increasing usage of Internet-related services on smartphones, laptops, and tablets, the need for a reliable power source on-the-go is more crucial than ever. Moreover, the trend toward universal compatibility and wireless charging capabilities in power banks is gaining popularity, providing users with added convenience and flexibility. However, the market is also facing challenges such as the poor quality of power banks in the market, which can lead to safety concerns and inconsistent charging. To address these challenges, manufacturers are focusing on improving the internal battery's capacity, charging process, and charging speed. Additionally, there is a growing demand for compact and lightweight designs, which can be achieved through the use of quick charging technology. Solar-powered power banks are also gaining popularity as a sustainable and eco-friendly solution for charging devices on-the-go.
The market continues to gain traction as the demand for electrical energy on-the-go increases. With the widespread use of electronic devices such as smartphones, tablets, laptops, and other portable gadgets, the need for reliable and efficient power sources has become essential. High capacity power banks offer a solution to this problem by providing a large reservoir of electrical energy to charge multiple devices. A wall battery charger can be used to recharge the power bank when it runs out of power. These power banks come with various features that cater to the diverse needs of consumers. High capacity power banks support a wide range of devices, including smartphones, tablets, laptops, and other USB-powered gadgets.
Moreover, they come with multiple USB ports, allowing users to charge multiple devices simultaneously. These power banks employ fast-charging technology, which reduces the time it takes to charge devices. They also offer quick charging capabilities for certain devices, ensuring that users can get back to using their devices as soon as possible. High capacity power banks are designed to be portable, making them easy to carry around. They come in compact and lightweight designs, making them an ideal travel companion. The capacity of high capacity power banks varies, with some offering up to 20,000 mAh or more.
Furthermore, the charging speed is also a crucial factor, with some power banks able to charge devices up to 50% in just 30 minutes. Some high capacity power banks come with solar panels, allowing users to charge them using sunlight. This feature provides an eco-friendly and sustainable charging solution, making it an attractive option for environmentally-conscious consumers. High capacity power banks offer various output voltages and currents, ensuring that they can effectively charge a wide range of devices. They also come with overcharging protection, which prevents damage to devices caused by overcharging.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The smart phone segment is estimated to witness significant growth during the forecast period. The demand for high capacity power banks in the United States has been on the rise due to the growing usage of smartphones as versatile tools for communication, entertainment, and work. With the advancement of technology, smartphones have become essential gadgets, leading to an increase in their energy requirements. As a result, there is a significant need for power banks with high capacities, ranging from 8,001 mAh to 20,000 mAh, capable of charging multiple devices several times before needing to be recharged. According to recent statistics, there are approximately 275 million smartphone users in the US alone. This increasing user base has fueled the demand for portable charging solutions, enabling users to keep their devices charged on the go.
Furthermore, high capacity power banks come in compact and lightweight designs, making them an ideal travel companion. Quick charging technology is another essential feature, allowing users to recharge their devices rapidly. Some power banks even offer solar-powered charging capabilities, providing an eco-friendly charging option. When selecting a high capacity power bank, consider the power draw of your devices to ensure the bank can meet your charging needs efficiently.
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The smart phone segment accounted for USD 4.19 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is experiencing significant growth due to the increasing portability and convenience of tech devices such as smartphones and Bluetooth headphones or speakers. The need for uninterrupted power supply on-the-go has led to the increasing demand for high capacity power banks. Compatibility with various devices is another crucial factor driving market growth. APAC is currently the largest market for high capacity power banks, with countries like China and India leading the way due to the widespread adoption of smartphones and mobile broadband. The presence of numerous companies offering affordable mobile devices and services in these regions has further fueled market growth.
Moreover, government initiatives and investments aimed at improving mobile technology infrastructure are expected to continue driving market growth in APAC. Additionally, the digitization of industries such as transportation and banking is also contributing to the market's growth. High capacity power banks are essential for these industries to ensure uninterrupted operation of their devices, leading to increased demand. In summary, the market is witnessing growth due to the increasing portability and convenience of tech devices, compatibility with various devices, and the digitization of industries. APAC is currently the largest market, driven by the widespread adoption of smartphones and mobile broadband, and is expected to continue its dominance in the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The decline in prices of power banks is the key driver of the market. The market in the United States is highly competitive, with numerous players and new entrants. To remain competitive, companies are reducing the prices of their power banks, making them more accessible to a larger consumer base. In addition, companies are continuously innovating and launching power banks with advanced technologies, causing the prices of older models to decrease. This price reduction not only expands the customer base but also impacts the pricing strategies of competitors.
High-capacity power banks with USB-C ports, such as Dual USB-C ports and USB-A ports, enable faster-charging and simultaneous charging, offering versatility and convenience to users. These power banks come in various milliampere hour (mAh) capacities, catering to different consumer needs. Companies are focusing on providing faster charging solutions to meet the increasing demand for power on-the-go.
Increasing Internet-related services through smartphones, laptops, and tablets is the upcoming trend in the market. In today's digitally connected world, portable electronic devices such as smartphones, tablets, and laptops have become indispensable tools for both personal and professional use. The demand for uninterrupted usage of these devices has led to an increasing need for high capacity power banks. These portable batteries offer the convenience of charging electronic devices on-the-go, making them essential for business travelers, students, and anyone who relies heavily on their devices.
High capacity power banks come with multiple USB ports, ensuring universal compatibility with various devices. Some advanced models even offer wireless charging capabilities, eliminating the need for cords. With the growing number of mobile publications and services such as mobile banking, mobile payments, and OTT apps, the demand for high capacity power banks is expected to increase further. These power banks provide electrical energy when traditional power sources are unavailable, ensuring that users can continue to use their devices for work, entertainment, and communication purposes.
Poor quality of power banks is a key challenge affecting the market growth. The high capacity power bank market in the United States is witnessing growing demand due to the increasing use of portable devices. However, the market is fraught with challenges, including the prevalence of substandard power banks. According to various studies, a considerable number of power banks, especially from unestablished brands, fail to meet safety regulations and can potentially cause hazards such as overheating and fires. Reports suggest that approximately 40% of power banks that underwent testing in certain markets were discovered to have lower-than-promised capacities or utilized inferior batteries, heightening the probability of malfunctions or perilous situations. The proliferation of counterfeit and low-grade power banks, frequently marketed at competitive prices, adds to the market complexity.
These products can adversely affect the efficiency of the devices they charge and undermine consumer confidence in power bank brands. To navigate this market landscape, consumers must prioritize power banks with swift charging capabilities, minimal weight, versatile connectivity, enhanced safety measures, and seamless compatibility with their devices. Leading brands, such as Anker, offer large-capacity power banks that cater to these requirements. To ensure the authenticity and quality of power banks, it is advisable to purchase from reputable retailers and conduct due diligence before making a purchase. Additionally, providing accurate and valuable information can help establish your website as a trusted resource and enhance user engagement.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ADATA Technology Co. Ltd. - The company offers high capacity power banks such as P2000QCD, P1000QCD, T5000C, and others.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
High-capacity power banks have become an essential accessory for individuals who rely heavily on their electronic devices, including smartphones, tablets, laptops, and even Bluetooth headphones and speakers. These portable batteries offer the convenience of charging multiple devices on-the-go, making them indispensable for travelers, students, and professionals. These power banks come equipped with USB charger ports and may offer universal compatibility and wireless charging capabilities, making them versatile charging options for various electrical energy-consuming devices. They can provide electrical energy to devices through USB ports, making them a versatile solution for charging various tech devices. The capacity of high-capacity power banks ranges from milliampere hours (MAH) to meet the varying power needs of different devices.
Moreover, these power banks can recharge faster than regular ones, offering rapid charging speeds and minimal weight. Solar-powered power banks are also gaining popularity, with solar panels integrated into their design. These power banks can charge using sunlight, making them an eco-friendly and convenient option. High-capacity power banks are designed with safety measures such as overcharging protection, charging efficiency, and pass-through charging. The quality of the cable and conductivity are crucial factors in ensuring a fast and efficient charging process. These power banks come in compact and lightweight designs, making them easy to carry around. They can charge multiple devices simultaneously, making them a versatile and convenient solution for charging multiple tech devices at once.
Furthermore, the output voltage and current of high-capacity power banks vary, depending on the devices they are designed to charge. Fast-charging technology and enhanced safety measures ensure seamless compatibility with various devices. In conclusion, high-capacity power banks offer a convenient and versatile solution for charging multiple tech devices on-the-go. They come with various features such as quick charging technology, solar-powered capabilities, and enhanced safety measures, making them an essential accessory for individuals who rely heavily on their electronic devices.
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Market Scope |
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Report Coverage |
Details |
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Page number |
143 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.1% |
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Market growth 2024-2028 |
USD 7.85 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
11.4 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 38% |
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Key countries |
China, US, Germany, Japan, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ADATA Technology Co. Ltd., AMBRANE India Pvt. Ltd., Anker Technology UK Ltd., AUKEY Online, Easyacc, Griffin Technology Inc., Intex Technologies India Ltd., iWALKFree Inc., Koninklijke Philips N.V., Lenovo Group Ltd., MYCHARGE, OMNICHARGE, RAVPower, Romoss, Sony Group Corp., Syska Led Lights Pvt. Ltd., The Duracell Co., TP Link Corp. Ltd., Xiaomi Inc, and ZAGG Inc. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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