PUBLISHER: Grand View Research | PRODUCT CODE: 1529739
PUBLISHER: Grand View Research | PRODUCT CODE: 1529739
The global mobile chargers market size is expected to reach USD 55.56 billion by 2030, growing at a CAGR of 6.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The appeal of mobile chargers, especially portable power banks, lies in their convenience and portability, catering to consumers with active lifestyles who need reliable on-the-go charging solutions for their devices. These power banks allow users to maintain their electronics' battery life while traveling, commuting, or engaging in outdoor activities without access to traditional power sources. This versatility ensures that smartphones, tablets, and other gadgets remain powered throughout the day, enhancing productivity and connectivity wherever users go. As a result, portable power banks have become essential accessories for modern consumers seeking uninterrupted device usage and convenience in their daily lives.
The urban population growth worldwide is driving substantial demand for advanced mobile accessories such as power banks, adapters, and wireless chargers. Government initiatives aimed at boosting literacy and job opportunities are further fueling market expansion. Enhanced mobile devices, increasing disposable incomes, and declining smartphone prices globally are contributing to a surge in demand for these accessories. With rising disposable incomes, individuals are increasingly traveling for business and leisure, leading to increased demand for portable charging solutions like power banks and car chargers that ensure continuous device use on the move. This trend highlights the growing preference for convenience and connectivity, prompting manufacturers to innovate with compact, fast-charging, and versatile products that meet the needs of mobile consumers worldwide.
The increasing adoption of smart home devices, including smart speakers, security cameras, and various Internet of Things (IoT) gadgets, is driving demand for reliable charging solutions. Wall chargers and power banks are now essential accessories for powering these devices efficiently. As smart homes integrate more devices that require constant power, such as those for home security, entertainment, and automation, the need for versatile and dependable charging solutions has grown. Wall chargers provide a stable power source for devices that are plugged in at home, ensuring they remain operational without interruption. Meanwhile, portable power banks offer flexibility by enabling users to charge their devices on the go, ensuring continuous functionality even in areas where wall outlets are inaccessible.