PORTLAND, Oregon, August 27, 2018 /PRNewswire/ --
Significant increase in adoption of battery cases and rise in demand for wireless accessories in the Asia-Pacific region are the major factors boosting the growth of the global battery case market.
Allied Market Research published a report, titled, Battery Case Market by Price Range (Low, Medium, and Premium) and Distribution Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2018-2025. According to the report, the global battery case market was valued at $4.12 billion in 2017, and is expected to garner $8.98 billion, registering a CAGR of 10.0% from 2018 to 2025. The report includes insights on the top winning strategies; dynamic factors such as driver, restraints, challenges, and opportunities; leading market players; and key strategic moves.
Surge in demand for smartphones, advancements in battery technology, and increased penetration of internet for personal and business activities are the major drivers of the global battery case market. Moreover, rapid surge in demand for wireless accessories has supplemented the growth of the market. However, frequent compatibility issues faced by consumers has proven to be detrimental for the market growth. On the contrary, high demand for portable battery packs for use in applications ranging from power tools to small electronic devices offers remunerative opportunities for the market players in the long run.
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Medium-priced battery cases to experience highest demand by 2025
The report classifies the battery cases market on the basis of price into low, medium, and premium. The premium segment accounted for $145.3 million in 2017, contributing more than 58% of the total market share. However, medium-priced battery cases would portray the highest demand, registering a CAGR of 12.7% during the forecast period.
Online distribution channel segment to grow at a CAGR of 10.5% by 2025
The global battery case market report splits the distribution channel segment into online and offline. In 2017, offline distribution channel accounted for one-fourth share of the total market revenue. However, the online distribution channel would demonstrate the fastest growth through 2025, generating $6.84 billion.
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Asia-Pacific to manifest fastest growth throughout forecast period
The geographical regions analyzed in the report include North America, Europe, Asia-Pacific, and LAMEA. North America region dominated the global battery case market in 2017, contributing nearly half of the market share. However, Asia-Pacific region is expected to witness the highest demand for battery cases, growing at the fastest CAGR of 14.0% from 2018 to 2025, followed by LAMEA.
Money-makers in the market
The major market players are discussed in the report, including Apple, Inc., Otterbox, Incipio, ZeroLemon LLC, Maxboost, Samsung, ZAGG Inc., EMTEC, Alpatronix, and Anker Innovations Ltd. These market leaders have adopted various market strategies such as new product launch, mergers & acquisitions, partnerships, and collaborations to gain a strong foothold in the global battery case industry.
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