Wireless Power Bank Market To Hit USD 8.5 Billion By 2032, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Wireless power bank industry is projected to witness a CAGR of 4.9% during the period 2024-2032. This growth can be attributed to growing demand for portable and convenient charging solutions.

Selbyville, Delaware, Jan. 30, 2025 (GLOBE NEWSWIRE) --

Wireless power bank market size valued at USD 5.6 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2032. The widespread adoption of wireless charging technology across smartphones, smartwatches, and other electronic devices is a significant driver of this market. By eliminating the need for cables, wireless power banks offer unmatched convenience, appealing to tech-savvy consumers who prioritize efficiency and simplicity.

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The increasing demand for portable, lightweight, and compact charging solutions has further amplified the popularity of wireless power banks. These devices are designed for modern lifestyles, catering to consumers who need reliable, on-the-go power for work, travel, or outdoor activities. Their versatility and ease of use make them a preferred choice, aligning seamlessly with the mobility-focused demands of today's connected world.

Despite their convenience, wireless power banks face certain limitations, including slower charging speeds and higher energy loss compared to traditional wired chargers. These inefficiencies can be a drawback for users who prioritize fast charging or require dependable performance in high-demand scenarios. Additionally, the increased energy consumption associated with wireless charging raises questions about its environmental sustainability.

Wireless power bank market is segmented by battery type into lithium-ion and lithium polymer. In 2023, lithium-ion batteries dominated with a market size of USD 4.1 billion and are forecasted to grow at a CAGR of 5% through 2032. Their superior energy density, stable performance, and extended cycle life make them the preferred choice for portable charging solutions. Ongoing advancements in lithium-ion technology have improved charging speeds and overall performance, with manufacturers integrating features like fast charging and intelligent power management systems to meet consumer expectations.

On the basis of end-user, the wireless power bank market is categorized into individual/consumer, commercial, and industrial segments. The individual/consumer segment accounted for 59.7% of the market share in 2023 and is anticipated to grow at a CAGR of 5.2% over the forecast period. This growth is attributed to the rising dependency on personal electronic devices such as smartphones and wearables, which require frequent and convenient charging solutions.

Geographically, North America held a wireless power bank market share of USD 1.4 billion in 2023, with a projected CAGR of 5.2% from 2024 to 2032. The region's strong consumer electronics sector and focus on sustainability are driving the adoption of advanced wireless power banks, further supporting market expansion.

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Major players in wireless power bank market include ADATA Technology, Ambrane India, Anker Technology, ASUS, Aukey, Baseus Technology, Cellularline, Energizer, Intex Technologies, Lenovo, Microsoft, Omnicharge, Panasonic, Philips, Ravpower, Samsung SDI, Sony, Syska, Xiaomi, and Zendure among others.

Partial Table of Contents (ToC) of the report:

Chapter 1 Methodology & Scope

1.1 Market scope & definition

1.2 Base estimates & calculations

1.3 Forecast parameters

1.4 Data sources

1.4.1 Primary

1.4.2 Secondary

1.4.2.1 Paid sources

1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360⁰ synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis

3.1.1 Factors affecting the value chain

3.1.2 Profit margin analysis

3.1.3 Disruptions

3.1.4 Future outlook

3.1.5 Manufacturers

3.1.6 Distributors

3.1.7 Retailers

3.2 Impact forces

3.2.1 Growth drivers

3.2.1.1 Increasing adoption of wireless charging technology

3.2.1.2 Growing demand for portable and convenient charging solutions

3.2.1.3 Rising power consumption of mobile devices

3.2.2 Industry pitfalls & challenges

3.2.2.1 Limited charging efficiency

3.2.2.2 Heat generation during charging

3.3 Technology & innovation landscape

3.4 Consumer buying behavior analysis

3.4.1 Demographic trends

3.4.2 Factors affecting buying decision

3.4.3 Consumer product adoption

3.4.4 Preferred distribution channel

3.5 Growth potential analysis

3.6 Regulatory landscape

3.7 Pricing analysis

3.8 Porter's analysis

3.9 PESTEL analysis

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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