Multi Device Charging Locker Market Forecast and CAGR
According to assessment, the multi-device charging locker market is expected to experience substantial gains, expanding at around 10% CAGR from 2021 to 2031. The growth in demand will witness sharp recovery with optimistic growth outlook in the long-run. Swift penetration of smart devices and the necessity of maintaining their battery life is projected to ascend the growth in demand over the coming years.
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What are the versatile applications of Multi Device Charging Locker?
The ubiquity of battery-charged, smart electronic devices in the past few years, has transformed the ways of people’s communication, making humans more reliant on devices such as smartphones, tablets, and laptops. Installation of portable charging kiosks in retail locations, sport arenas, airports, and other venues to allow the consumers charging their devices is anticipated to have positive influence on the market development. The electronic industry is one of the most dynamic sectors of the economy. The rapid surge in the growth of the electronic industry has impelled dramatic changes in the investments in electronic manufacturing industry and hence creating significant demand for Multi-device charging locker.
Owing to the rising demand for these lockers, a number of new companies have entered into the market and are launching new product variations. As a result, the level of competition is becoming more intense and is likely to remain so in the next few years as well. To gain hold on new growth opportunities, companies requisite focusing on emerging markets having prominent set of untapped opportunities. With the growing need to offer effective charging solutions to various customers, manufacturers are focusing on leveraging cutting-edge technological solutions in the multi-device charging lockers. As charging lockers can only accommodate a limited number of customers, malls, airports, and commercial multiplexes are focusing on investments towards smart wireless device charging lockers. Leading manufacturers including Gidophone are focusing on development of wireless charging kiosks, equipped them with the wireless charging pads in order to offer inductive charging solutions.
Wireless and Bluetooth Charging Solutions to Augment Multi-Device Charging Locker Sales
Leading brands continue to face significant challenges by various companies in the unorganized sector as well as other small manufacturers in Asia. For instance, a Chinese manufacturing company, Winnsen has developed smart wireless charging lockers that accommodate deposit lockers, LCD advertising displays and phone chargers adopted by select stores at discounted and reasonable rates for customers’ convenience and to improve their brand perception. Also, a manufacturer, ChargeAll, is focusing towards developing highly effective and innovative wireless device charging lockers that enable multiple customers in select stores to charge their mobile phones free of cost.
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Regional Market Outlook
South East Asia region is projected to witness a considerably higher growth over the forecast period, on the back of increasing innovations in consumer electronics coupled with technological advancements. The shift of major electronics manufacturing in the countries such as China, Taiwan, etc. is paving the way for market growth in the region. Additionally, rising investments in development of retail and public infrastructures are also expected to provide impetus for the growth in demand for multi-device charging locker. Countries like India, Taiwan, Thailand, etc. has become strategic locations for global electronics devices, and semiconductor manufacturers owing to lower shipping costs, inexpensive labor, and established manufacturing infrastructure. Subsequently, multi-device charging locker market in Asia Pacific is expected to witness highest growth during the forecast period.
Broad network of internet services with multiple offers and easy subscriptions owing to which smartphones have replaced laptops as the primary device in the consumer electronics. Additionally, costumers on an average spend a significant amount for smart phones. This is attributable to increasing disposal income in developed countries from North America and Europe. Resulting in positive influence on the demand for Multi-device charging locker over the coming years.
Who are the Key Manufacturers and Suppliers of Multi Device Charging Locker?
Some of the leading manufacturers and suppliers of multi-device charging locker include
- Gidophone
- DXPower
- Tripp Lite
- Veloxity
- KwikBoost
- PC Locs
- Charge Bar
- LocknCharge
- YS LOCKER Ltd
- Others.
Leading manufacturers are focused on expansion of their manufacturing facilities along with sales and distribution network in emerging markets across the globe. Also, continuing efforts are being made to further improve the cost and performance parameters. Attributing to the presence of number of global & regional players, the multi-device charging locker market witnesses fierce competition.
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