Mobile phones segment is projected to be the most attractive segment in the global power banks market
In 2015, the mobile phones segment was valued at more than US$ 4,000 Mn and was estimated to cross US$ 4,000 Mn by the end of 2016, reflecting a Y-o-Y growth rate of about 10%. By 2024 end, the mobile phones segment is expected to be valued at nearly US$ 10,000 Mn, increasing at a CAGR of 9.5% during the forecast period. The mobile phones segment is projected to create incremental dollar opportunity of more than US$ 5,000 Mn between 2016 and 2024. In terms of value, the mobile phones segment is projected to be the most attractive segment in the global power banks market during the forecast period. This segment is anticipated to register high Y-o-Y growth throughout the forecast period and is likely to remain dominant in terms of value during the period 2016 – 2024.
Expansion of urban population across the globe is driving market demand in the mobile phones segment
The strong inclination of the masses towards mobile accessories, especially in developing countries of Asia-Pacific and Latin America driven by increasing disposable income has catalyzed the growth of the mobile phones segment in the last few years. A steadily growing urban population, predominantly in developing regions such as Asia-Pacific and MEA, is projected to support the growth of the mobile phones segment in the global portable battery pack market over the forecast period. Smartphone adoption across countries such as China, Indonesia and Brazil is growing at a fast pace, linked to increasing internet penetration and popularity of social networking in these countries. This is further creating a robust development in the mobile phones segment. Expansion of urban population across the globe, characterized by an urban upper class and high net worth individuals, has led to a strong demand in the mobile phones segment. Moreover, rapid migration from rural to urban areas, particularly in countries such as China and Indonesia, is expected to support the mobile phones segment over the forecast period. To gain a competitive advantage in the mobile phones segment, key market providers largely rely on strong distribution channels such as multi-brand distributors and retailers of mobile accessories in order to better cater to customers.
Mobile phones segment projected to record the highest CAGR of 10.8% in the APEJ region during the period of assessment
The most attractive CAGR in the mobile phones segment is recorded in APEJ. In 2015, the mobile phones segment in the Asia Pacific power banks market was valued at more than US$ 2,000 Mn and is expected to cross US$ 5,000 Mn by the end of 2024, reflecting a CAGR of 10.8%. In 2015, the mobile phones segment in the North America power banks market was valued at over US$ 700 Mn and is expected to reach nearly US$ 1,500 Mn by the end of 2024, reflecting a CAGR of 8.1%. Whereas in Latin America, the mobile phones segment was valued at more than US$ 300 Mn in 2015 and is likely to be valued in excess of US$ 600 Mn by the end of 2024, recording a CAGR of 8.6%. In the Europe power banks market, the mobile phones segment is expected to reflect a relatively low CAGR of 7.9% than other regions; the segment was valued at more than US$ 700 Mn in 2015 and is anticipated to be valued in excess of US$ 1,000 Mn by the end of 2024. The lowest CAGR is recorded in the MEA region, reflecting a CAGR of 7.4%. In 2015, the mobile phones segment in the MEA power banks market was valued at more than US$ 200 Mn and is expected to cross US$ 500 Mn by the end of 2024.
Persistence Market Research in its newly published report, “Portable Battery Pack (Power Banks) Market: Global Industry Analysis and Forecast, 2016–2024,” offers an eight year forecast of the global portable battery pack market. This study demonstrates the market dynamics and trends globally across five regions – North America, Latin America, Europe, Asia-Pacific and the Middle East and Africa which influence the current nature and future status of the portable battery pack market over the forecast period. This research report provides a detailed analysis of the global portable battery pack (power banks) market and offers insights on the various factors driving the popularity of these products. The report includes an extensive analysis of key industry drivers, restraints, market trends and market structure. The report also provides a comprehensive assessment of key stakeholder strategies and imperatives for succeeding in the business. The report segregates the market based on portable battery pack products across different regions globally.
The report starts with an overview of the global portable battery pack market by value and volume. In addition, this section includes an analysis of key trends, drivers and restraints from the supply, demand and economy side, influencing the global portable battery pack market. Impact analysis of key growth drivers and restraints based on the weighted average model is included in this report to facilitate clients with crystal clear decision-making insights. A detailed analysis has been provided for every segment in terms of market size analysis for portable battery packs across the different regions. The section provides a detailed analysis covering key trends, absolute dollar opportunity and BPS Analysis.
The report provides a market outlook for the projected period and set the forecast within the context of the global portable battery pack market including latest technological developments as well as service offerings in the market. This study discusses key trends within countries contributing to the growth of the market, as well as analyses degree to which drivers are influencing this market in each region. The report evaluates the present scenario and future growth prospects of the portable battery pack market across various regions globally for the estimated period, considering 2015 as the base year and provides data for the trailing 12 months. To calculate the global portable battery pack market size, the report considers country-wise power banks production, country-wise power banks sales, consumer spending, and adoption rates of electronic devices across regions as well as the revenue contribution of the top players. In order to offer an accurate forecast, the report starts by sizing the current market, which forms the basis of how the global portable battery pack market will develop in the future.
Lastly, the report includes a competitive landscape to provide clients with a dashboard view, based on categories of providers in the value chain, presence in the global portable battery pack portfolio and key differentiators. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the global portable battery pack value chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of capabilities and success in the marketplace. Detailed profiles of providers are also included within the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the global portable battery pack market.
Key Segments Covered
Key Regions Covered
Given the ever-fluctuating nature of the global economy, the report not only conducts forecasts in terms of CAGR but also analyzes the market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the global portable battery pack market. As previously highlighted, the global portable battery pack market is split into a number of segments. All segments such as battery type, capacity, product type and price range and based on different regions are analyzed in terms of basis point share to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identification of various key trends governing the global portable battery pack market. Another key feature of this report is the analysis of all market segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that providers can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global portable battery pack market.