Tag Archives: Power Bank Market Report

Power Bank Market Value is Registering a CAGR of More Than 20% During 2019-2024

According to the latest report by IMARC Group, titled “Power Bank Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the power bank market exceeded a value of more than US$ 9.8 Billion in 2018. A power bank is defined as a portable device used to charge electronics like smartphones and tablets. With the onset of digitalization, the demand for electronic gadgets has gradually increased worldwide. As a result, power banks are progressively being acquired as a common source of battery backup for devices with USB capability. Other factors such as mobility and versatility of power banks have also augmented their demand.

UAE and Saudi Arabia to Lead Middle East and North Africa Power Bank Market through 2023

According to TechSci Research report, Middle East and North Africa Power Bank Market By Type, By Capacity, By USB Ports, By Distribution Channel, By Country, Competition Forecast & Opportunities, 2013 – 2023’’, power bank market in the Middle East and North Africa (MENA) region is projected to reach $ 223 million by 2023. Key factors expected to fuel the market are rising young population, increasing number of technological advancements, anticipated recovery in services and manufacturing sectors, and growth in both inbound and outbound tourism across the region. Moreover, socio-economic developments by various major economies in the MENA region such as UAE Vision 2021, Saudi Vision 2030 and Kuwait Vision 2035 are likely to steer growth in the region’s power bank market during the forecast period.