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Market Leader - Power Bank Market

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A power bank is a portable device used as an external power source for recharging electronic devices. It stores electrical energy in its batteries and then supplies this energy as output to recharge other devices. These power banks are commonly used to recharge USB-powered devices such as digital cameras, smartphones, MP3 players, fitness bands, and others. Portable power banks have emerged a vital external energy source for consumer electronics as they are able to supply power to recharge devices on the move. The power bank market is projected to grow from USD 9.0 billion in 2020 to USD 13.4 billion by 2025; it is expected to grow at a CAGR of 8.1% from 2020 to 2025.

ADATA (Taiwan), Anker Innovations (China), AUKEY (China), Xiaomi (China), RAVPower (US), GRIFFIN (US), Lenovo (China), mophie (US), AMBRANE (India), INTEX (India), myCharge (US), Omnicharge (US), UIMI (India), uNu Electronics Inc. (US), Zendure (US), and ROMOSS (China) are some of the major players in the power bank market.

Anker Innovations (China)

Anker Innovations was ranked first in the power bank market in 2019. Anker Innovations is one of the global leaders in charging technology. Anker Innovations is among the key market players offering power banks for various end-user applications. Anker Innovations researches, develops, and sells smart charging products, smart living peripheral products, mobile peripheral products, and computer peripheral products. Anker Innovation’s power bank is a solution to devices such as smartphones, tablets, digital cameras, GPS navigators, handheld gaming devices, laptops, headphones, consoles, speakers, and smartwatches. The power banks are equipped with Li-ion or Li-polymer-based batteries. These power banks are featured with 1, 2, or more than 2 USB ports. Significant R&D capabilities enable the company to develop innovative products, which allow it to remain at the forefront of its respective businesses and differentiate its offerings in a highly competitive market. Its power banks and charging products incorporate technologies such as PowerIQ, MultiProtect, USB-C, QuickCharger, and Wireless Charging, which create product differentiation and give a tough competition to other players in the power bank market.

AUKEY (China)

AUKEY was ranked second in the power bank market in 2019. AUKEY is a high-tech gadget manufacturer and e-commerce seller across the world. The company not only has a wide market presence but also a diversified range of power banks. The company is specialized in producing slim and pocket-sized power banks which are convenient for outdoors. The company produces its power banks with new technologies and advanced features; for instance, the company’s power banks are based on three technologies—Power Delivery, Qualcomm Quick Charge, and AiPower Charging. The power banks are also featured with flashlight, multiple ports, USB-C Output, USB-C Input, Micro-USB Input, and lighting input. The company has a strong geographic foothold due to its partnership with distributors in various regions.

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Xiaomi (China)

Xiaomi secured the third rank in the power bank market in 2019. Xiaomi is a Chinese electronics company. It is a well-known and prominent player offering smartphones at reasonable prices. Xiaomi also holds a leading position among other players in the power bank market. The company offers a range of power banks under the name Mi. Xiaomi’s power banks are compatible with smartphones, tablets, camcorders, digital cameras, and portable media players. The company offers Li-ion or Li-polymer battery-based power banks. Power banks designed by this company have LED lights to indicate battery level, 1 or 2 output USB ports. They are enclosed within a sleek aluminum casing that makes the power bank water and corrosion-resistant. The power banks are available in battery capacities ranging from 5,000 to 20,000 mAh. The company focuses on expanding its products in other geographic regions to gain a larger customer base; for instance, it expanded outside China with its first international headquarters in Singapore in 2014, entered India in July 2014, and gained recognition for its smartphones. The company launched many products from December 2018 to March 2020, attributing to high product innovation. Product launches have enhanced the company’s technological competence and also strengthened its presence in the market. The ongoing health and containment emergency measures due to COVID-19 are causing delays at logistic couriers and Xiaomi authorized service centers. In March 2020, the company launched Hyperlocal “Mi Commerce,” an online-to-the-offline solution. It aims to allow users to safely purchase Xiaomi devices, including power banks, from the nearest Xiaomi retail store while staying at home, amid the nationwide lockdown.

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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