Wireless Power Bank Market Charges Ahead with a Projected CAGR of 6.5% through 2023-2030, Reports MarkWide Research
According to a recent report published by MarkWide Research, titled, “Wireless Power Bank Market,” the global market for wireless power banks is charging up for substantial growth. With a projected Compound Annual Growth Rate (CAGR) of 6.5% over the forecast period from 2023 to 2030, the market is set to empower consumers with convenient charging solutions.
Key Drivers of Wireless Power Bank Market Growth
- Proliferation of Mobile Devices: The increasing use of smartphones, smartwatches, and wireless earbuds drives the demand for wireless power banks.
- Wireless Charging Ecosystem: The growing availability of wireless charging technology in various devices fuels the demand for compatible power banks.
- Convenience and Portability: Wireless power banks offer on-the-go charging convenience, making them attractive to users with active lifestyles.
- Expansion of Electric Vehicles: The electric vehicle market’s growth creates opportunities for wireless power banks for EVs and hybrids.
Market Size and Projections
MarkWide Research’s analysis indicates that the wireless power bank market was valued at $4.2 billion in 2022. With the increasing need for portable charging solutions, the market is expected to reach an estimated value of $7.2 billion by the end of 2030, representing a CAGR of 6.5% during the forecast period.
Regional Analysis
The Asia-Pacific region, led by China and South Korea, dominates the wireless power bank market due to its robust electronics manufacturing industry. North America and Europe also exhibit significant growth potential, driven by consumer demand for convenient charging.
Competitive Landscape
Key players in the wireless power bank market include:
- Anker Innovations
- Samsung Electronics
- Mophie (a subsidiary of ZAGG Brands)
- Belkin International
- RAVPower
These companies offer a variety of wireless power bank solutions, catering to diverse consumer needs.
Future Outlook
The wireless power bank market is set to charge ahead with the proliferation of wireless charging technology in an increasing number of devices. Manufacturers are likely to focus on developing more powerful and efficient wireless power banks to meet the demands of a tech-savvy consumer base.