Global mobile power market size in 2019 is approximately USD 10.7 billion
According to a report released by the international market research institution Markets and Markets this month, the global mobile power market size is expected to be USD 10.7 billion in 2019, and it will increase to USD 17.9 billion by 2024, during which the compound annual growth rate will reach 10.8%.
With the continuous innovation of integrated technology, various software applications have led to increased smartphone power consumption and declining prices, and the mobile power market will grow steadily during the forecast period. In addition to smartphones, tablets, portable media players, wearables, digital cameras and other product applications are also increasing market opportunities for mobile power.
From the perspective of battery type, lithium-ion batteries occupy the largest share in the mobile power market in 2018. With its high energy density, relatively small size, and low production costs and maintenance requirements, lithium-ion batteries will continue to dominate the mobile power market over the forecast period.
From the perspective of product types, mobile power products with more than 2 USB ports will grow at the highest compound annual growth rate. The mobile power supply with more than two USB ports has security protection technology and ultra-fast charging technology, and has a high battery capacity, which can charge multiple electronic devices at the same time. These portable chargers also have different USB port types, such as Type-C USB ports.
From the perspective of regional markets, Asia-Pacific has the largest mobile power market share in 2018, followed by North America and Europe. Major developing economies in the Asia-Pacific region, such as China and India, have huge market potential for mobile power. In China, Japan, South Korea and other countries, the growing demand for portable consumer electronics devices and next-generation electronic products has driven the mobile power market in the Asia-Pacific region. It is expected that in the forecast period, the Asia-Pacific region will continue to occupy the largest market size.