Modernization in living standards coupled with increasing consumer procuring power and rapid economic developments have abruptly fuelled the growth of the India Electronics Market. Additionally, increase in demand for Internet of Things (IoT) devices such as smartphones, tablets/phablets and laptops have further driven the growth of the Electronics Market in India.
According to 6Wresearch, India Power Bank shipments value reached $6.91 million for CY 4Q 2014. Power Bank with 5200 MAH battery capacity registered major share of the market followed by 10400 MAH capacity. Some of the key players in the India Power Bank Market are Xiaomi, Portronics, Pebble, Croma, Envent and Intex.
- As many as 95 vendors shipped Power Banks
- Xiaomi, Portronics and Croma together captured around 45% share of the market
- 7 OEM’s shipped above 20,000 Power Banks
According to Anuj Mehrotra (Research Analyst, 6Wresearch-India Electronics Division) “Mobile Phones which were primarily known for providing voice communications has now emerged as an entertaining device among the Indian consumers”.
“With Smartphones becoming an essential part of the living society, the demand for portable chargers grew substantially over the last few quarters. Further, with rising consumer awareness the market is expected to register tremendous growth over the coming period”, he further added.
Rise in demand and intense competition is declining the ownership cost of Power Banks in the Indian market. Additionally, growing domestic production & assembly and entry of new vendors have further decreased the prices of power banks.
India Power Bank Market CY 4Q’ 2014 provides in-depth analysis and insights on the market share of vendors & models, avg. FOB & market price and revenue by vendors and models.