Increasing smartphone and tablet penetration is driving the adoption of
power banks globally. High speed mobile internet networks consumes
more power and drains battery. This in turn has propelled the need of
power for smartphones and tablets. Emerging regions such as China
and India are expected to have significant revenue opportunity during
the forecast period. The growths is primarily attributed to increasing
penetration of smartphone and high speed mobile internet in these
regions. In addition, increasing competition among regional and global
players is expected to observe decrease in the average selling prices
for power banks over the forecast period. This is expected to witness
increase in the adoption of power banks in the price sensitive region;
however adversely impacting the profitability of major players.
Innovation is differentiating factor among various products (power
banks) in the market. Introduction of safety standards in the power
banks is boosting the adoption of innovative and quality power banks.