India Power Bank Market to Witness 16% CAGR until 2023
Growing
digitalization, increasing sales of electronic gadgets and surging number of
rail and air travelers to fuel India power bank market
through 2023
According to TechSci Research report, “India
Power Bank Market By Type, By Capacity, By USB Ports, By Distribution
Channel, Competition Forecast & Opportunities, 2013 - 2023’’, power bank market in India is projected
to grow at a CAGR of more than 16% until 2023. Increasing
disposable income, surging penetration of smartphones and tablets, growing services
& manufacturing sector and rising focus on ‘Make in India’ initiative are
among the key factors expected to drive the country’s power bank market over
the coming years. As batteries in smartphones drain faster and technological advancements are resulting in lower
Lithium-ion battery prices, demand for power banks is expected to grow at a fast
pace in India during the forecast period.
Browse 16
market data Tables and 94 Figures spread through 110 Pages and an in-depth
TOC on “India
Power Bank Market"
https://www.techsciresearch.com/report/india-power-bank-market/3346.html
In 2017, Intex Technologies (India) Ltd. and Xiaomi
Technology India Private Limited accounted for the largest shares in India
power bank market, and both of these companies are likely to maintain their
market dominance during the forecast period, on account of their vast product
portfolio and high product availability in both Lithium-ion and Lithium Polymer
segments. On the basis of type, Lithium-ion segment dominates
the power bank market in India,
owing to their lesser prices as compared to Lithium Polymer based
power banks. Northern and southern regions of the country cumulatively account
for the majority share in India power bank market, backed by growing penetration
of electronic gadgets, increasing number of manufacturing facilities and rising
inflow of tourists in both the regions.
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Online distribution channel is the leading sales
platform for power banks in India as it offers a broad range of products, competitive
prices as well as wider customer reach. “As per the Telecom Regulatory Authority of
India, smartphone user base in the country is expected to grow from 292 million
in 2017 to around 425 million by 2020, backed by rising urban population, increasing
modernization and rising number of government initiatives aiding the
establishment of manufacturing facilities across the country. These market developments, in addition to growing
preference among consumers for power banks while traveling for long hours,
are expected to positively influence the power
bank market in India over the course of next
five years.”, said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“India Power
Bank Market By Type, By Capacity, By USB Ports, By Distribution Channel,
Competition Forecast & Opportunities, 2013 - 2023” has
evaluated the future growth potential of India power bank market and provides
statistics and information on market size, structure and trends. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges and opportunities
in India power bank market.
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