Market Research Future (MRFR), in its recently issued research report, asserts that the global market is booming and expected to grow exponentially over the review period, recording a substantial market valuation of USD 18 billion and a healthy 17% CAGR in the forecast period.
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Drivers and Restraints
The portable battery market is rising with the growth of technological products. Battery-operated electronic devices such as wireless devices, mobile phones, and others are needed to be recharged from time to time, which has become a significant factor influencing the growth of the portable battery market. Portable batteries are majorly adopted in household applications such as calculators, clocks, flashlights, and watches, among others.
Additionally, the rise in the demand for smartphones and tablets is driving the use of portable batteries and has made them distinctive under the consumer electronics sector. The major driving factors of the portable battery market include the growing usage of mobile phones and the rising demand for wireless devices, among others. Some new technologies have developed which allow next-generation portable battery-operated IoT devices. There is a noted rise in medical and consumer products such as hearing aids, fitness bands, diagnostic monitoring patches that require portable batteries and are relatively popular. This trend is expected to gain significant traction over the review period.
For the scope of the study, the global portable battery market has been segmented on the basis of technology, capacity, and applications.
the technology, the portable battery market has been segmented into lithium-ion battery, nickel-cadmium battery, lithium-polymer battery, and nickel-metal hydride battery.
Based on the capacity type, the market has been segmented into 2600-5000 mAh, 5100-10400 mAh, 000-2500 mAh, and above 10400 mAh.
The applications of portable batteries battery-operated in smartphones, media devices, tablets, and portable-wearable devices.
The geographical analysis of Portable Battery Market Size has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (Latin America, the Middle East, and Africa).
Asia-Pacific is leading the global portable battery market with the largest market share due to the massive consumption of mobile phones and other compact accessories. The emerging economies in the region, such as Myanmar, India, Vietnam, and China, are making more efforts to expand and improve wireless device services. Singapore, Thailand, and the Philippines are further presumed to contribute to the regional market expansion over the forecast period. Other developing countries like Japan, Malaysia, and Australia are growing to create new battery designs and are expected to play a crucial role in the market expansion in Asia-Pacific.
North America is touted to grow during the forecast period owing to the rising demand for high capacity range devices in this region, which in turn may expand the global portable battery pack market growth.
The major market players operating in the global portable battery market as identified by MRFR are Acer Inc. (Taiwan),Sony Corporation (Japan), Alcatel-Lucent S.A. (France), Nikon Corporation (Japan), Dell Inc. (US), Siemens AG (Germany), Advanced Battery Systems Inc. (US), Casio Computer Co.Ltd. (Japan), Sharp Electronics Corporation (Japan), and Seiko Holdings Corporation (Japan).
Other players in markets are BYD Company Ltd. (China), Lenovo Group Ltd. (Hong Kong), Duracell International Inc. (US), China Bak Battery, Inc. (China), Energizer Holding Inc. (US), Mophie Inc. (US), LG Chem Inc. (US), Panasonic Corporation (Japan), Simplo Technology Co. Ltd. (Taiwan), Samsung Sdi Co. Ltd. (South Korea), among others.
Browse More Details on Report at: https://www.marketresearchfuture.com/reports/portable-battery-market-941
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