July 16, 2019
WELLESLEY, Mass., July 16, 2019–The transition to 5G and the dominance of Bluetooth are two factors which drive growth of the global portable battery-powered products market, according to a report by BCC Research, “Portable Battery-Powered Products: Global Markets.”
The market expects to see a compound annual growth rate (CAGR) of 7.6% through 2024, when it could be worth $1.5 trillion.
“Battery-powered products and the batteries that power them grew spectacularly in the early 2000s,” writes analyst Robert Eckard. “Now, after a nearly decade-long hiatus, battery market development is back and running strong. Major manufacturers and innovators are driving the market in significant new directions, thanks to an exceptionally strong—and growing—R&D base that is making batteries safer, lighter, more durable, more portable, longer-lasting, and higher-capacity than ever before.”
The Transition to Battery Power
One of the key reasons that many battery-powered products are growing rapidly in market value is that many manufacturers—particularly in the tools, toys, novelties and medical equipment industries—are rapidly transitioning an increasing number of conventionally cord-powered products over to battery power. Entirely new applications are also surfacing.”
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Portable Battery-Powered Products: Global Markets( FCB023F )
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