Promotional Power Bank Market set to soar to 25.16 Billion USD by 2022 source: Capacity Range That is what has catapulted this simple battery to one of the fastest growing consumer products on the planet! Billions of power banks have now been produced and distributed with this fi gure set to grow to a market worth 25 billion by 2022. Let’s look a little further into this modern phenomenon… A power bank is generally a lithium battery encased in a shell which provides power to USB-driven devices such as smart phones, tablets, Sat Navs, cameras, gaming consoles, etc. These power banks are measured by their output capacity (mAh – milli amps per hour) and capacity to charge 1 Amp, 2 Amp, 3 Amp which dictates what they can charge. The third variable is the speed at which the power bank itself can be charged. Like all useful products this has led the device to be used by thousands of marketers who want to keep their brand and logo close by their clients or prospects. Such is the growth of these devices, they have become somewhat of a commodity being sold now in garages, discount supermarkets and online outlet stores. But not all powerbanks are the same. Some offer distinctive features, like PassThrough powerbanks which can be charged simultaneously with a smartphone. Or powerbanks with a built-in fl ashlight, which is always handy when you are going camping. Others are equipped with a solar panel, which allows the powerbank to charge itself if there is enough sunshine. The fi rst wireless powerbanks are now coming. For motorcyclists and car drivers there are now even astonishingly small jump start powerbanks, which can be used as a start assist for starting a car or motorcycle with an empty battery, in addition to charging USB gadgets. And will the powerbank market continue to grow? Defi nitely! The expectation is that up to 2022 the annual growth (CAGR) will be 21%. The factors driving this growth include the increasing usage of electronic devices, technological advancements and shortage of electricity in certain countries. Staying ahead of the game in such a crowded market is a BIG challenge! This is why we look for unique branding, styles and features. CONTINEW -19
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