What is Power Bank Rental Services Market Scope?
Power bank rental services come under the sharing economy. Power bank rental services are useful for travelers who need Google Maps as well as it is useful for workers who have to take care of any tasks around the city and need to charge the power bank on the go. It has its own software which is connected to the customer's mobile app. When a user scans a QR code, the app sends a request to the station, which releases a power bank. Usually, the rental cost is hourly and is charged automatically from an in-app balance that the user needs to replenish. Personal power banks can run out the battery this indicates the requirement for portable chargers.
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The Power Bank Rental Services market study is being classified by Type (Micro USB, Type C and iOS Cable), by Application (Cafes and Restaurants, Bars and Clubs, Retail and Shopping Centers, Commercial Spaces and Others) and major geographies with country level break-up. According to AMA, the Global Power Bank Rental Services market is expected to see growth rate of 35.13% and may see market size of USD2702.78 Million by 2027.
Global Power Bank Rental Services is a fragmented market due to the presence of various players. The players are investing more in mergers and acquisitions to enhance their market presence. The companies are planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.The Manufacturers having a strong hold in the market are Monster Energy, Xiaodian, Jiedian.
Mobindustry - Mobile and Web Solutions (Ukraine), Naki (Belgium), Redshare Inc. (United States), Power Qube (United States), ChargedUp (United Kingdom), Xiaodian (China), Jiedian (China), Shenzhen Laidian Technology Co., Ltd (China), charg2go (India), A3 Charge Pvt. Ltd. (India) and Monster Energy (China) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Power Bank Rental Services market by Type, Application and Region.
On the basis of geography, the market of Power Bank Rental Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2021. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Influencers and their development strategies
On 12th January 2021, TransWorld Holdings Inc. (to be renamed Charge Enterprises), a global business with capabilities and talent focused on connectivity in communications, last-mile delivery, and micro-mobility infrastructure, announced an investment and exclusive rights to North America with Naki Power, the largest power-sharing system in Europe.
On 9th March 2021, Spykke power bank rental service expands to 11 cities in India. The company plans to add several more cities to the list shortly. Its deployments are majorly in high-footfall regions such as Metro stations, Cinemas, Cafes, Malls, Airports, Railway Stations, Corporate Offices, Tech-Parks, Hotels, Universities, and Hospitals. and On 25th December 2019, China’s power bank rental provider Energy Monster has successfully raised RMB 500 mln (USD 71.4 mln) in its Series C funding round. There are two types of power banks available for rental, consisting of fixed charging points and portable power banks.
Influencing Market Trend
- Globalization and Urbanization
- Rapidly Adopting Sharing Economy as well as Adopting Digital and Technology Solutions
- The Rise In Power Consumption Of Smart Phones and Othe r
- Smart Devices
- Rapid Demand for Compact Electronic Devices Equipped with Rechargeable Batteries
- Increasing Application of Power Bank Rental Services in Developed Countries
- Rising Use of Smartphones and Other Smart Devices
- The Growing use of Mobiles, Laptops and Other Charging Devices can create Opportunities for the Market Growth
- Smartphones Device Type to Account for the Largest Market
- Share during the Forecast Period.
- COVID-19 Pandemic hamper the Power Bank Rental Services Industry
- Development of Solar and Hydrogen Fuel Cell-Based Power
- Regulatory Guidelines on the Launching New Power Bank Rental Service Stations
Key Target AudiencePower Bank Rental Services Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
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