Wireless Power Bank Market: Increased adoption of smart devices to boost the market growth

Global Wireless Power Bank Market size was valued at USD 1.6 Bn in 2022 and is expected to reach USD 2.39 Bn by 2029, at a CAGR of 5.9% over the forecast period.
Wireless Power Bank Market Overview
Wireless power banks are used to charge devices using wireless technology using techniques such as QI, which is a new innovation in the market. Wireless Power Bank has advantages including convenience and performance to make sense to incorporate the ability to charge the devices wirelessly and is expected to boost the wireless power bank market growth. Energy is transferred inductively without the need for connectors to improve reliability as connectors are susceptible to damage, which has been made for connectors used for smartphones.To know about the Research Methodology :- Request Free Sample Report
Wireless Power Bank Market Dynamics
Technological advancements in the Wireless power bank industry to boost the market growth

Rise in awareness about technological advancement among the people to use smart technologies is expected to boost the  market growth. Increased use of smart phone with protective features of the power bank significantly contribute for the growth of the market. Wireless power bank are perfect and convenient solution for multiple devices. The adoption of electronic devices and rising wireless power bank market penetration of is expected to fuel the market growth over the forecast period. Increasing disposable income helps for the growth of the market. The demand for the wireless power bank is also driven by the automotive sector. The proliferation of fast charging technologies is used by the wireless power bank technique. Keeping track of record become more nuisance and let the mobile battery get charge. With an increasing number of smartphones with premium features such as wireless charging with new and improved option. MacBook and iPads companies has new realm of accessories related to wireless power bank.

STM wireless power bank features a regular brick-like structure, which is slim and is mostly available in the market. Wireless power bank are compatible with virtually Qi-enabled devices with high end smartphones to accessories such as Apple Air pods and Samsung buds. The wireless power bank has attracted the research community and several companies with diverse applications especially in Internet of Things and wireless sensor networks. All these factors is expected to boost the Wireless Power Bank market share and growth.

Benefits of Wireless Power Bank

1. Provides Accessibility
2. Reduces ware
3. Fast Charging capability

High Cost of Wireless Power Bank to restrain the market growth

Fluctuation in the prices of Wireless Power Bank with limited availability of raw material is expected to hinder the market growth over the forecast period. Wireless power bank may have limited bandwidth as compared to traditional power banks. Wireless power bank is not fully integrated due to lack of efficiency compared to traditional chargers. Sometimes the charging stations are non-portable with less compatibility, which is expected to restraint the marker growth. The main restrain is that the device needs to stay on charging pas to charge continuously with perfectly in position to charge. The devices take more time to get charges through a wireless power bank than wired charging.
Wireless Power Bank Market Regional Insight
North America region accounted the largest Wireless Power Bank market share in 2022 and is expected to dominate the market over the forecast period. Increasing consumer preference and high spending on the high quality products is expected to boost the regional market growth over the forecast period. The consumers in the region are adopting new mobile technology, which has led to increase in demand for the wireless power bank in the region. Also, market has increased the popularity for the Internet of Things devices with technological innovations in the regional market. Rise in research and development activities in the region is expected to boost the regional market growth. Growing demand for energy-efficient and environmentally friendly products with no harm to the environment is significantly contributing for the growth of the market. US, Canada, and Mexico market is expected to contribute for the Wireless Power Bank in the North America region.

The Asia-Pacific region is expected to witness significant growth in the Wireless Power bank market due to the increasing adoption of mobile devices and the growing demand for advanced technology with ease to charge the devices any time anywhere. Additionally, the increasing number of data breaches in this region is expected to boost the adoption of Wireless power bank.
Wireless Power Bank Market Segment Analysis
Based on Type, the market is segmented based on Lithium Polymer Battery, Powerful & Portable Wireless Power Bank, Ultra Slim Design, and Dual USB ports. Lithium Polymer battery dominated the Wireless Power Bank market in 2022 and is expected to dominate the market over the forecast period. Lithium polymer batteries are a rechargeable battery of lithium ion technology using a polymer electrolyte instead of liquid electrolyte. Lithium polymer batteries are suitable with high and robust power usages. The batteries provide high energy than other lithium battery type and used by the Wireless Power Bank manufacturers in applications where weight is critical features such as smartphones, and some other electric devices. Lithium polymer batteries are known for robustness, less combustible nature, and more flexible, with moldable and lightweight.Based on Application, the market is segmented based on Smartphones, Tablets/Laptops, PCs, Cameras, and Digital Watches. The smartphones segment dominated the market in 2022 and is expected to hold the largest Wireless Power Bank market share over the forecast period. Increased usage of smartphones led to increase in number of chargers being purchased by consumers, which has resulted to increase the demand for Wireless Power banks with large capacity batteries. Adoption of tablets/laptops is expected to fuel the demand for the wireless power bank as these devices need sufficient amount of battery life for multiple tasks simultaneously. Use of these products during business meetings and long travels is expected to influence the Wireless Power Bank industry size.Based on Battery Capacity, the market is segmented into 900 mAh, 5000 mAh, 6000 mAh, 7700 mAh, 8000 mAh, 9500 mAh, and Above 10000 mAh. Above 10,000 mAh segment is expected to dominate the market over the forecast period. The Wireless Power Bank manufactures designed the power bank in such a way that the size and design makes the product more attractive for the buyers and helps to increase the Wireless Power Bank marker size. Above 10,000 mAh has high charging capacity with advanced technology that stay for long and charges mobile phones from 0 to 100 quite a few times.
Competitive Landscape
The Wireless Power Bank industry is growing significantly as its facing huge demand because of the increase in research and development projects across the globe, with technological innovation. The company profiles and competitive analysis of the key players are provided in the Wireless Power Bank Market report. The Wireless Power Bank companies’ offers a range of products with positioned as reliable and have huge market demand. The strategies adopted by the major player, such as expansion of product portfolio, mergers & acquisitions, geographical expansion, and collaborations, to enhance the  market penetration. The Wireless Power Bank industry is dominated by Wireless Power Bank manufacturers as they have huge production plants and facilities around the world. Competitors in the Wireless Power Bank industry offer cost-effective solutions to expand and survive in the market competition. Wireless Power Bank manufacturers are using tactics to benefit customers with low manufacturing cost. The Wireless Power Bank manufacturing companies are ALOGIC, Lenovo, Xiaomi Mi, Samsung, Shenzhen Ugood Technology Co. Ltd, Kenu, and Coolnut.

In March 2021, Xiaomi launched 10,000 mAh wireless power bank that allows upto 10W wireless charging. It supports 18W fast charging when used with cable. Qi-certified smartphones is charged without the hassle of plugging and unplugging cords. Power bank offers high quality lithium ion polymer batteries compatible with smartphones and digital devices.
Wireless Power Bank Market Scope: Inquire before buying



Wireless Power Bank Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 1.6 Bn.


Forecast Period 2023 to 2029 CAGR:
5.9%
Market Size in 2029:
US $ 2.39 Bn.


 Segments Covered:
by Type
1.Lithium Polymer Battery
2.Powerful & Portable Wireless Power Bank
3.Ultra Slim Design
4.Dual USB ports


by Battery Capacity
1.900 mAh
2.5000 mAh
3.6000 mAh
4.7700 mAh
5.8000 mAh
6.9500 mAh
7.Above 10000 mAh


by Application
1.Smartphones
2.Tablets/Laptops
3.PCs
4.Cameras
5.Digital Watches


by Size
1.Slim
2.Pocket sized
3.Large


by Distribution Channel
1.Online
1.1.E-commerce Websites
1.2.Company Websites
2.Offline
2.1.Hypermarkets/Supermarkets
2.2.Retail Stores




Wireless Power Bank Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Wireless Power Bank Key Players Include
1.ALOGIC
2.Lenovo
3.Xiaomi Mi
4. Samsung
5. Shenzhen Ugood Technology Co. Ltd
6.Kenu
7. Coolnut
8.Momax
9.Philips
10. LUXA2
11. ZENS
12.Xtorm
13. Aukey
14. Silviano
15.Elegent
16.Urbn
17.Jt-Pq1
18. Ubon
19.Gurvgear
20.Walton
21. Belkin
22.Cascade

Frequently Asked Questions:

1] What is the growth rate of the Global Wireless Power Bank Market?
Ans. The Global Wireless Power Bank Market is growing at a significant rate of 5.9% over the forecast period.

2] Which region is expected to dominate the Global Wireless Power Bank Market?
Ans. Asia Pacific region is expected to dominate the Wireless Power Bank Market over the forecast period.

3] What is the expected Global Wireless Power Bank Market size by 2029?
Ans. The market size of the Wireless Power Bank Market is expected to reach USD 2.39 Bn by 2029.

4] Who are the top players in the Global Wireless Power Bank Industry?
Ans. The major key players in the Global Wireless Power Bank Market are Kenu, Coolnut, Momax, Philips, LUXA2, and ZENS.

5] Which factors are expected to drive the Global Wireless Power Bank Market growth by 2029?
Ans. Technological advancements in the Wireless power bank industry are is expected to drive the Wireless Power Bank Market growth over the forecast period (2023-2029).