In 2024, the size of the mobile power market is expected to be 13.59 billion US dollars, and it is expected to reach 20.35 billion US dollars by 2029, with a compound annual growth rate of 8.40% during the forecast period (2024-2029).

The main factors driving the effectiveness of mobile power are the increasing popularity of smartphones and other mobile devices, as well as the growing trend of remote work and e-learning. In addition, the increasing popularity of outdoor activities and travel has also contributed to the growth of the mobile power market.

·Screen time has become a part of most people's daily lives. According to the latest data from Comparitech, the average daily screen usage time for people worldwide is 6 hours and 58 minutes, while the average daily screen usage time in the United States is 7 hours and 4 minutes, which is 7 minutes more than the global average. Therefore, in order to keep a mobile phone or laptop in standby mode, it is necessary to ensure that it is always turned on, and portable mobile power is considered a more convenient choice than before.

·Mobile power sources may be bulky or require a long time to charge smartphones. Therefore, suppliers constantly innovate to reduce size and weight, while improving fast charging capabilities. In October 2022, Stuffcool launched a new 15W wireless charging mobile power supply, paired with a 20W PD wired output. The new Stuffcool wireless power bank is lightweight, slim in design, equipped with LED indicator lights to display battery percentage during charging and discharging, as well as a micro USB port and a USB Type-C charging port.

·The increasing popularity of mobile power sources that can provide high-speed charging is expected to drive the market growth of mobile power sources with a capacity range of 10000mAh to 20000mAh. The company is also attempting to provide fast charging through all charging ports to leverage its competitive advantage.

·The e-commerce industry has changed the way businesses operate around the world. For example, according to recent statistics released by IBEF, the entire e-commerce market is expected to reach $350 billion by 2030. The growth of the industry is largely caused by the increase in the popularity of the Internet and smart phones. The continuous increase in e-commerce data from emerging economies will further drive the growth of the mobile power market during the forecast period.

·In recent years, many manufacturers have entered the mobile power market and offer various capacities, prices, and designs of mobile power supplies. However, not all mobile power supplies have excellent quality, as their lifespan is often less than six months. Low quality mobile power sources not only fail to charge devices, but may also damage them, thereby limiting market growth.

·Due to COVID-19, the previously expected cross application growth of mobile power may decrease as the pandemic has caused serious disruptions to businesses and the global economy, limiting supply chains and adoption. The epidemic has led to production restrictions and a significant decrease in enterprise investment.

Mobile Power Market Trends

Wireless charging is expected to drive market growth

·The fastest emerging trend in the future workplace is the concept of working anytime, anywhere. The workplace is adopting innovative technology supported wireless charging and integrating it into existing technologies to provide employees with an excellent non-contact experience. They also use the generated data to optimize the security and efficiency of their region.

·With the rise of Qi, some mobile power supply manufacturers have started producing non compliant or counterfeit products with misleading labels such as Qi compatible or supporting Qi, often carrying the illegally used Qi logo. The Global Technology Association's survey of different consumers unanimously believes that wireless charging mobile power products certified by Qi have significant advantages, ensuring safety, compatibility, and reliability.

·In order to maintain social distancing, the shift towards de intensification in real estate, coupled with dynamic work patterns, naturally leads people to pay attention to hotel shared desks. However, sharing resources is not without security challenges, and any process requires a simple way for employees to identify available desks through cleaning schedules and social distancing policies. This will further increase the demand for wireless power banks in the post COVID-19 pandemic.

·The continuous popularization of 5G will lead to an increase in the power consumption of devices to provide higher speed and bandwidth. In this case, wireless charging mobile power sources will become increasingly popular because they combine the convenience of obtaining additional power when away from the main charger, so that mobile devices such as smartphones can charge while on the go.

·Wireless charging mobile power requires more electronic components and provides more functions than standard mobile power. Therefore, they are often more expensive than simpler and more traditional wired mobile power sources.

The Asia Pacific region will witness the highest growth

·The increasing use of consumer electronic devices, especially smartphones and tablets, coupled with technological advancements leading to increased power consumption and power outages, have driven the growth of the mobile power market in the Asia Pacific region.

·In addition, the increase in disposable income, the growth of urban population, and the increasing popularity of smartphones and tablets in rural areas are expected to drive the adoption of mobile power in the Asia Pacific region during the forecast period.

·The increase in the user base of electronic devices has mainly stimulated the growth of the mobile power market in Asia Pacific countries. This is thanks to the continuous measures taken by the government to assist the smartphone and electronic manufacturing industry, as well as the support of technological advancements that have led to a reduction in the cost of lithium-ion batteries.

·For example, recently, the Indian Ministry of IT released a National Electronic Policy Draft (NPE) proposing a grand goal of creating a $400 billion electronic manufacturing industry by 2025, with the mobile device sector accounting for three-quarters. Production.