PORTABLE CHARGER MARKET ANALYSIS

Market Challenges And Opportunities

Factors Driving Growth of the Global Portable Charger Market:

Growing demand of various digital devices such as smartphones, laptop, tablet, digital camera, and other devices are expected to propel growth of the portable charger market over the forecast period. According to Coherent Market Insights, the number of smartphone users in India is expected to rise over the forecast period. Moreover, there is significant smart phone penetration in various countries such as the U.S., United Arab Emirates, U.K., Netherlands, Sweden, Belgium, Spain, and others. For instance, according to Coherent Market Insights, in United Arab Emirates and Sweden there is around 81% and 72% smartphone penetration respectively. Increasing demand for mobile devices subsequently drives portable charger market growth.

Furthermore, technological advancements in portable chargers is expected to boost growth of the portable charger market in the forecast period. For instance, development of solar energy-based portable chargers by market players is one of the novel idea. There are various solar power banks available in that market, which includes RAVPower, FEEKEA, Foxelli, Rockpals, SUAOKI, Nekteck, and others.

Restraints

High cost of advanced portable chargers and availability of low-quality products in the market are expected to restrain growth of the portable charger market. Moreover, the bulky nature of certain high-capacity portable chargers can be a deterrent for consumers seeking lightweight and compact options.