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Portable Battery Pack Market-Key Revenue Pockets
The need for higher capacity is because of the end applications which are already developed and also for the applications which will be built in the near future. Smart devices like Smartphone, tablets, and tablet-PCsare capturing the market in the consumer electronics segment and are now coming with increased functionalities and bigger screens, which ask for more battery consumption.
Major improvements in the battery technologies and innovation of completely new battery chemistries are transforming the ways in the portable electronic battery market, from Smartphone to power tools. In particular, lithium-ion portable batteries, commonly used today in Smartphone and tablets, are moving beyond consumer electronics to virtually dominate all the portable power applications. Of all the application sectors, one of the prominent fields that hold a promising future for the portable battery pack market is the ‘consumer electronics ‘sector where the need for portable battery pack is evolving and progressively growing. Emerging economies such as India and China have shown significant increase in the demand for portable battery pack due to the fast growth in communication and adoption of consumer electronic devices in these regions. Apart from this, the other application areas of portable battery packs are computers, wearable electronics, portable medical devices, and portable military; which are expected to create more revenue and new opportunities for the portable battery pack manufacturers in the near future.
Lithium technology dominates the portable battery pack market, owing to its higher density with respect to all the other battery technologies. Though the current market is dominated by the lithium-ion technology, there is a strong growth observed in the lithium-polymer technology segment due to its advantage of higher energy densities, storage capacity, and high charging cycles. The adoption of lithium polymer portable batteries is projected to dramatically increase, with a high adoption projected in the mature markets of high capacity range electronic devices such as notebook PCs, laptops, Smartphone, and tablets.
This need of higher capacity packs in the portable battery market is expected to generate more revenue for many multinational companies such as LG Chem. Power Inc. (South Korea), Mophie Inc. (U.S), Panasonic Corporation (Japan), Sony Corporation (Japan), and Samsung SDI Co. Ltd. (South Korea), which reinvesting heavily in R&D activities, so asto fuel innovations and product development in the lithium technologies.
Portable Battery Pack Market by Capacity Range, Product Type (Smartphone, Tablet, Portable Devices and Others), Technology (Li-ion, Nickel Metal Hydride, Li-Polymer, and Nickel Cadmium) & Geography – Global Forecast to 2014 - 2020
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