A new study by Transparency Market Research (TMR) presents a comprehensive analysis of the global solar power bank market, taking its historical and current performance into consideration. The research report is titled, “Solar Power Bank Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2023.” It states that the extensive use of internet on account of the availability of 3G and 4G services on smartphones and tablets has fueled the consumption rate of batteries at a faster rate thus, driving the solar power bank market.
Solar power banks are reliable in situations where a power source is not available. Solar banks are an environmental friendly technology, which is encouraging their use. Moreover, it is a cheap alternative as compared to electric charging. Solar power banks prove to be of much use when tourists or trekkers travel at distant places and cannot rely on conventional power banks owing to no electric supply or means to charge, boosting their demand. At times of emergencies solar power banks can be charged via sunlight, however most of them also have an option of charging alternatively via computer using a USB cable. As such, their flexibility is making them an attractive alternative to conventional power banks.
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The challenge in using solar power banks is the compatibility with all device brands. Additionally, they face intense competition from electric power banks. Low efficiency at night or in cloudy days are expected to affect the mindset of consumers regarding the reliability of these devices. However, rural areas in emerging countries of Asia, Africa, and Latin America are expected to pose as opportunities for growth in the market in the coming years. The penetration of smartphones and tablets across the globe, including among the people living in rural areas in the coming future will act as opportunity for the global solar power bank market.
The solar power bank market is segmented on the basis of capacity of battery into 3500 mAh to 6499 mAh, 500 mAh to 3499 mAh, 9500 mAh to 12499 mAh, 6500 mAh to 9499 mAh, 12500 mAh to 15499 mAh, and above 15500 mAh.
Key vendors operating in the solar power bank market have been profiled in the report. They are LG Chem Ltd, Xiaomi Technology Co., Ltd, China BAK Battery, Inc., Microsoft Corporation, OnePlus, Panasonic Corporation, and Mophie Inc. The business and financial overview of each of these companies has been given. The recent developments by companies along with their product picture and specification are discussed in the report. The information regarding key vendors enables new players and those established to invest smartly and correctly in the solar power bank market.
