The consumer electronics industry has been registering significant growth since the past few years, as the disposable income of people is increasing rapidly, majorly in emerging economies. Since developing countries have been registering steady economic growth, a larger number of people are able to buy consumer electronics such as mobile phones and laptops. Because of this reason, the adoption of electric vehicles has also increased across the people. Moreover, as the focus on reducing the usage of fossil fuels is growing, people are increasingly opting for these vehicles.

Batteries are an important part of both consumer electronics and electric vehicles, ascribed to which, the global smart battery charger market is projected to witness considerable growth in the years to come. Smart battery chargers have three charging stages, namely boost stage, absorption stage, and float or maintenance stage. These chargers have a number of high-tech features, including protection from overcharging and monitoring of voltage, temperature, batteries, and charging process. These chargers can further communicate with the battery management systems of a smart battery pack.

It is because of all these factors that the demand for these devices is rising at a swift pace. Between wired and wireless chargers, the demand for wired smart battery chargers has been considerably high in the past. These chargers are utilized in a number of applications, including smartphones and laptops, since they have low cost. In addition to this, a large number of electronic devices support wired chargers, which is further predicted to drive the demand for these devices in the years to come.

Among the major applications of smart battery chargers, the demand for these devices was substantially high for usage in smartphones, owing to the increased adoption of these devices. According to Statista, approximately 1.5 billion units of smartphones were sold in 2016, and the number is further projected to rise by 37% by 2020. Both the smart battery and the smart charger need to have long shelf life, slow discharging, and quick charging features, in order to enhance user experience.

A major reason for the growing demand for smart battery chargers is the increasing penetration of IoT and its emphasis on large data collection from distributed nodes. For example, in the agricultural sector, smart farms rely on a number of nodes that are spread across hundreds of acres, for collecting data regarding soil moisture level, weather, and evaporation, among other things. These nodes rely on energy-harvesting techniques and are mostly battery-powered, thereby leading to high demand for smart battery chargers.

Geographically, a significant share of the smart battery charger market is predicted to be accounted for by North America in the years to come because of the increased adoption of electric vehicles and smart electronic devices in the region. For example, the sales of smartphones in the U.S. reached $55.6 billion 2017, increasing from $18 billion in 2010. This is resulting in the high demand for smart battery chargers in the region.

In conclusion, the market is being driven by the growing adoption of electric vehicles and rising sales of smartphones across the globe.