The global AC and DC adapters market is forecast to grow at a CAGR of 2.09% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: Although these mobile devices are developed with increased operational efficiency, battery chargers play a key role. This increases the need to charge devices frequently. However, problems such as lack of power sockets and compatibility issues of charger pins with other mobile devices make charging with conventional chargers difficult. The deployment of a common platform for charging devices in public places has become popular. Many public places such as railway stations, airports, and shopping malls have charging platforms. This leads to growth in the AC and DC adapters market.
According to the report, the growing popularity of mobile devices such as smartphones, tablets, and smartwatches is one of the major drivers contributing to the growth in the global AC and DC adapters market. Mobile technology enables people to access the internet, which has made access to data, business information, and email easy for users at any time and any location. Power-intensive applications in mobile devices such as smartphones and tablets consume a great amount of power, thus requiring effective battery backup. Therefore, the demand for efficient battery chargers is increasing, leading to growth in the AC and DC adapters market.
Further, the report states that growing popularity of wireless charging is hindering the market growth.