Smartphone producers
today are increasing efforts to develop products with varied features,
including improved camera efficiency, social networking, and Internet-based
applications, which need consistent supply of Internet from LTE, Wi-Fi, or 4G
technology. As these technologies utilize more battery, the demand for products
from the power supply and charger market is anticipated to grow in the near
future.

As per the
analysts at Transparency Market Research (TMR), the global power
supply and charger market is projected to expand at a CAGR of 4.19%
during the forecast period, 2021­­- 2031.

Major enterprises
are experiencing high demand for fast mobile chargers, owing to several
advantages they offer, including decreased dependence on sockets and cables.
These chargers are gathering traction, as they assist in regulating the
intensity and power that a charger should supply to a phone.

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Power Supply and Charger Market: Key Findings

• Increase
  in Demand for Smart Desktop Chargers Drives Product Sales

Players are offering
innovative and highly advanced chargers that fulfill the current market needs.
A case in point here is the MIVI Qualcomm Quick Charge 3.0 Certified desktop
charger, which is gathering traction owing to its universal compatibility and ability
to charge around five devices.

• Support
  from Government Bodies Fuels Expansion Opportunities for Industry
  Enterprises

Government bodies of
many developing nations such as India have initiated different
schemes, including Integrated Power Development Scheme (IPDS) and Deen
Dayal Upadhyay Gram Jyoti Yojana (DDUGJY), which are expected to
accelerate the electrification process across Indian towns and cities. As a
result, the demand for power supply and chargers is expected to increase in the
upcoming years.

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Power Supply and Charger Market: Growth Boosters

• Rise in demand for clean energy, global
  population, and disposable income of consumers is likely to create sales
  opportunities in the global power supply and charger market during the
  forecast period


• Companies are mainly concentrated on the
  development of mobile chargers with low voltage. The strategy is helping
  them in resolving issues such as the possibility of phone battery damage
  due to frequent use of fast mobile chargers.


• Surging adoption of electric vehicles
  combined with rising investments toward the development of EV charging
  infrastructure across major parts of the globe is anticipated to boost the
  demand for power supply and chargers in the upcoming years


• The Asia pacific power supply
  and charger market is projected to expand at a prominent pace, owing to
  many factors such as improvement in electrification and per capita usage,
  and increase in population of countries such as India

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Power Supply and Charger Market: Competition Landscape

• The presence of a considerable number of
  players highlights that the power supply and charger market is highly
  competitive. In order to sustain the market competition, companies are
  utilizing varied strategies. For instance, several players are acquiring
  official certification from Qualcomm (based in San Diego, California)
  in order to increase their desktop charger sales.


• Several organizations are focused on
  strengthening their production capabilities to increase the availability
  of smart desktop chargers that can be used for phones as well as tablets

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