TMCnet News
Power Bank Market 2017 - Global Forecast to 2022 - Increasing Usage of Smartphones and Tablets - Research and MarketsResearch and Markets has announced the addition of the "Power Bank Market - Global Forecast to 2022" report to their offering. The power bank market is expected to grow at a CAGR of 21.22% between 2017 and 2022 and is likely to be valued at USD 25.16 billion by 2022 The key driving factors for the growth of the market include the increasing usage of electronic devices such as smartphones and tablets, technological advancements, and electric outage in certain countries. However, the major restraining factors for the growth of this market are improvement in the battery capacity of electronic devices and increasing adoption of wireless charging technology in consumer electronic devices. The market for power banks with a capacity range of 12500-15499 mAh is expected to grow at a high rate between 2017 and 2022. The increased battery capacity of mobile devices and laptops require high capacity power banks to recharge these devices; this is expected to drive the growth of the market. Smartphones hold the largest size of the power bank market; the market for smartphones is expected to grow at a high rate between 2017 and 2022. The increasing penetration of smartphones, along with the extensive use of Internet srvices, is draining the battery power of smartphones rapidly. Hence, the demand for power banks to run smartphones for a longer duration is increasing in the market. The market for power banks in Europe is expected to grow at a high rate between 2017 and 2022. The manufacturers in Europe are continuously seeking for new growth opportunities by focusing on new technological developments in the power bank market. In addition, the presence of a large number of techno savvy consumers with high disposable income contributes to the growth of the power bank market in Europe. Market Dynamics Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit http://www.researchandmarkets.com/research/2j5727/power_bank_market
View source version on businesswire.com: http://www.businesswire.com/news/home/20170530005483/en/ |