In this report, Technavio’s semiconductor equipment research experts announce their key market highlights for the global power banks market. Their findings include:
Market share of portable power banks is diminishing and solar banks are rising
The global power banks market was valued at USD 6 billion in 2015. The market is segmented by portable power banks, solar power banks, and battery cases. Portable power banks had the largest share of global power banks revenue, with a contribution of close to 53%, in 2015. Technavio estimates that the contribution will fall in 2020, due to proliferation of solar power banks and adoption of portable battery cases, since they are light weight and easy to carry, when compared to portable power banks.
Asif Gani, a lead analyst specializing in semiconductor equipment research at Technavio added, “Solar power banks are the fastest growing segment in the global power banks market. With an increased awareness about renewable sources and efficient utilization of resources, solar power banks save a lot on energy consumption. The segment is expected to grow at a CAGR of over 42% over the forecast period.”
The Americas is the largest geographical segment of global power banks market with a revenue share of 45.14% in 2015
Technology penetration in the Americas is much higher than any other region in the world. With the rise in the use of smartphones and tablets at work places thanks to favorable bring your own device (BYOD) policies, the demand for power banks in this region is surging ahead. With the availability of low priced quality power banks from several vendors in the market, adoption rate of power banks has grown exponentially. Due to this reason, the region accounts for the highest share in the total revenue of global power banks market.
However, the emergence of APAC as a key contributor to the global market with massive demand from countries such as China and India will result in a decline in the America regions revenue contribution during the forecast period.
Improved battery life on latest range of smartphones pose an imminent challenge to the global power banks market
The latest range of smartphones are equipped with an average screen size of approximately five inches with full HD 1080p screen resolution, along with advanced primary and secondary cameras boasting a quad or octa-core processor. Using the internet on smartphones with such loaded features consumes loads of battery power. This trend has led to an increased demand for enhanced battery life. To improve their value proposition, several manufacturers have added high mAh capacity batteries to improve the battery life on their latest range of smartphones.
For instance, Samsung added a 3000 mAh battery to its Galaxy S6 Edge smartphone. Similarly, One Plus, the Chinese smartphone manufacturer, has included a 3300 mAh battery to OnePlus 2. Sony also added a 3430 mAh battery to its Xperia Z5 premium smartphone. Motorola added a 3630 mAh battery to its Moto X Play smartphone. Similarly, companies such as LG, HTC, and Microsoft have added batteries with a capacity in excess of 3000 mAh to their latest smartphones, in response to demand for more battery life from consumers.
Browse related reports:
- Global Rechargeable Battery Market 2015-2019
- Global Battery Chargers Market 2015-2019
- Global Accessories and Peripherals Market for Smartphones and Tablets 2015-2019
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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