Power Bank Market To Garner Immense Returns with Revenue $27.8 Billion By 2027

Over the past few years, smartphones have gained traction owing to the availability of user-friendly models coupled
with integration of advanced features in smartphones and tablets. These devices are used for social media, online
shopping, mobile banking, ordering food and other activities which leads to high consumption of data as well as
batteries, thereby, expected to drive the power bank market growth. However, smartphone manufacturers are striving
to improve their battery capacity which is expected to hinder the market growth to some extent.
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Further key findings from the report suggest:
• The online distribution channel segment is projected to witness significant growth during the forecast period due to
growing penetration of e-commerce, especially in emerging regions.
• In 2019, electric segment held the largest market share in terms of revenue, wherein the solar segment is projected to
grow with the higher CAGR over the forecast period due to increasing demand for energy-efficient consumer electronics
devices.
• Online retail channel is gaining traction among consumers due to the availability of multi-brand along with offers and
discounts.
• In battery types, lithium-ion battery segment is anticipated to grow with the faster CAGR over the forecast period, as it
reduces harmful gas emission and have the high energy density.
• Countries such as Mexico, India, China, Japan and U.S. are expected to witness substantial growth in the next few
years due to robust industrial development.