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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