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The world in recent times has drifted towards increased utilization of electronic devices to reduce the communication gap and use the technological advancements for human comfort. The growth in the number of sales of mobile phones in all regions across the globe has been the major factor which has led to increased utilization of portable batteries.
This has seen numerous players entering the market of mobile phones, and therefore the number of manufacturers of the portable batteries has also increased. This has fragmented the market and increased the end product quality being received by the end-user. The fragmented market has also affected the cost of the portable batteries which are now available in various price ranges.
Based on their types, the global portable battery market can be segmented into lithium-ion battery, lithium-polymer battery, nickel-cadmium battery, nickel-cadmium battery, and others. The lithium-ion batteries are the most adopted type of portable battery over the years owing to excellent efficiency and cost considerations.
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Based on its capacity the global portable battery market is segmented into 0-2500 mAh, 2500-5000 mAh, 5000-10,400 mAh, and above 10,400 mAh. The increased demand for power backup in mobile phones has seen 2500-5000 mah segment hold a larger market share in recent years.
Based on its applications, the global portable battery market can be segmented into mobile phones, wearable electronics, and other electronic devices. The increased sales of mobile phones in recent years has seen the mobile phones segment dominate the global portable battery market.
The key market driver for the global portable battery market is the increasing sales of mobile phones which has directly impacted the growth of the sales of portable batteries. The other factor which drives the growth of the global portable battery market is the increase in the disposable income which has seen increased expenditure from people over the wearable accessories and other electronic devices.
Key market restraint for the global portable battery market is the growing regulations of the government regarding the disposal of the e-waste generated by the electronics. The other factor which can hinder the growth of the global portable battery market is the adoption of new upcoming technologies.
Key players operating in the global portable battery market are Sony, Acer, Dell, Alcatel-Lucent Enterprise, Siemens, Nikon, Advanced Battery Systems, Inc., Sharp Electronics Corporation USA, Casio USA, Lenovo, BYD Electronic (International) Company Limited, Duracell Inc., Panasonic, LG Chem Power, Inc., and Samsung Electronics.
The global portable battery market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region holds the most significant opportunity for the growth of the portable batteries market owing to the domination of the region in the sales of the electronic equipment and particularly mobile phones which form the major share of the global portable battery market. The increased urbanization and the rise in the disposable income are the major factors driving the growth of portable batteries market in the region. North America and Europe are the other regions which stand as major regions for the global portable battery market. The increasing sale of portable electronic devices, wearable accessories, watches, flashlights, electronic toys, digital cameras, and portable power banks are the major driving factors for the portable battery market in both the regions.
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