The electronic gadget batteries market was USD 15.9 billion in 2023, which will increase to USD 45.6 billion, growing at a 16.3% compound annual growth rate, by 2030.
Random memory and storage, processors, an operating system, Wi-Fi, and various other components of software and hardware present in personal computers are all found in portable computing products.
Therefore, rechargeable batteries assist in powering these electronic products. Also, the chosen technology of the battery impacts the user interface, mobility, and performance of devices.
In 2023, the OEMs category, based on end user, accounted for the major share, of 65%. This can be because lithium-ion batteries are essential for achieving the goals of mobile computing battery OEMs in enhancing device efficiency, price competitiveness, and battery life.
In 2023, the portable PCs category, based on application, led the industry, with a 40% share. This will be because portable PC batteries are extensively utilized in Chrome books, laptops, and notebooks as these rechargeable gadgets are employed to produce and store electricity, allowing portable PCs like laptops to run without a power cord.
Additionally, lithium-ion batteries are the most common laptop batteries type. They are accessible in different configurations, based upon the workload weight, CPU speed, RAM, screen size, and other measurements to keep the laptops functioning for many hours.
North America is likely to advance at a 16.4% compound annual growth rate in the years to come. This will be mainly because of the advancements in technology, the existence of major companies, and the enhanced consumer electronics sector in this continent.
