HOME Research Insight New Product Launches have Emerged as the Key Strategy Adopted by the Major Players to Gain A Competitive Edge in the Power Bank Market

New Product Launches have Emerged as the Key Strategy Adopted by the Major Players to Gain A Competitive Edge in the Power Bank Market

Power bank refers to a portable charger that supplies power using an in-built battery to charge various portable electronic devices. These batteries can be manufactured using Li-ion or Li-polymer. Power banks use electric power grids or solar energy to charge these devices. The electronic devices that can be charged using power banks include smartphones, tablets, digital cameras, portable media devices, and laptops. The power bank market is expected to be valued at USD 25.16 Billion by 2022, growing at a CAGR of 21.2% between 2017 and 2022. The factors driving the growth of the market include the increasing usage of smartphones and tablets, decline in the prices of power banks, advancements in technology, and electric outage in certain countries

Beijing Xiaomi Technology Co., Ltd. (China), Lenovo Group Ltd. (China), Microsoft Corp. (US), Panasonic Corp. (Japan), and Sony Corp. (Japan) are some of the leading players in the power bank market.  New product launches have emerged as the key strategy adopted by the major players to gain a competitive edge in the market.

Microsoft Corp. is one of the leading players in the power bank market. The company invests heavily in R&D, which enables it to launch advanced products in the market. It focuses on the market in the US to generate revenue. After the acquisition of Nokia Corporation (Finland), the company launched its first power bank DC-21 in October 2014, under the brand name Microsoft. The developing countries offer vast opportunities for the company to grow and expand its geographical reach. This would eventually help the company increase its market presence.

Sony Corp. is one of the well-known companies for portable chargers. The company has strong geographical presence and has ~70% of its business outside Japan; this helps it in generating more revenue from across the world. The company’s power banks are widely used for smartphones, digital cameras, media players, tablets, and camcorders. Sony invests heavily in R&D to design products and explore new opportunities in the market, which is driving its growth and profitability. For instance, in September 2016, Sony launched the CP-SC10 portable charger. It features 2 USB Type-C ports, which enable the device to charge at a faster rate. This power bank incorporates the company’s proprietary hybrid-gel technology that retains ~90% of the battery power after a usage of up to 1,000 times.

The other companies operating in the power bank market include ADATA Technology Co., Ltd. (Taiwan); AsusTek Computer Inc. (Taiwan); Ambrane India Pvt. Ltd. (India); Anker Technology Co., Ltd. (US); Intex Technologies (India); OnePlus Technology (Shenzhen) Co., Ltd. (China); and uNu Electronics Inc. (US) Ltd. (India).

Related Reports:

Power Bank Market by Capacity Range (500–3499 mAh, 3500–6499 mAh, 6500–9499 mAh, 9500–12499 mAh, 12500–15499 mAh, and Above 15500mAh), Number of USB Port, Energy Source (Electric and Solar), Battery Type, Application, and Region - Global Forecast to 2022

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