Power Banks Market
Power banks are external batteries that are portable and compact and can be used for charging laptops, tablets, MP3 players, or smartphones. Power banks are useful devices that can be used while traveling, when the batteries on mobile devices are exhausted. Power banks allow the storage of electrical energy for later use and can also be used to charge cameras, GPS systems, portable speakers, or other USB-charged devices.The global power bank market is expected to develop in terms of volume at a strong CAGR of 25.9% during 2014 to 2022. The growing use of the internet, particularly services such as video streaming, and mobile applications drains batteries faster. Hence, the use of power banks has increased globally.Technologically advanced consumer electronics devices are available at relatively low rates in regions where pricing is a deciding factor for sales. Hence, the increased sales of electronic devices is a major market driver for power banks.
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