Trends in Charging Products: What Entrepreneurs Should Know
We need chargers more than ever
The number of personal devices each individual owns has exploded over the last decade: On average, there are 6.58 connected devices per person worldwide, as compared to 1.84 in 2010. For many of us, keeping all those devices full of juice and ready to use has become a regular part of our daily routines.
It’s no wonder that chargers have grown into an enormous crowdfunding category. Charging products raised $4,052,474 on Indiegogo in the past six months. There’s a rapidly increasing interest in charging products among Indiegogo backers: 72% of backers have “charging products” indicated among their interests. In the past year, 158 charging product-related campaigns have launched, raising a combined $6,325,953 funds from 66,580 backers.
Charging products are a growing category on Indiegogo
To explore the trend for yourself, you need look no further than popular recent Indiegogo campaigns for power banks (such as Flash), chargers (such as Hyper Juice and Mr. Charger), cables (such as inCharge 6 and NILS 2.0), and wireless chargers (ENERQi).
The uptick in charging product campaigns can be explained by a number of factors. Indiegogo has a reputation for fostering innovation and touting cutting-edge solutions to everyday problems. Our inherent direct-to-consumer model gets high-tech products into the hands of backers a lot faster than traditional retail.
These are the top trends in charging products
So what does high-tech mean when it comes to charging products in 2020? Here are some of the trends that the newest breed of chargers have been tapping into.
- They use different semiconductors. Gallium nitride, or GaN, is a semiconductor that’s ushered in a new generation of small-but-mighty chargers. GaN can sustain higher voltages and can run current faster than silicon can, opening up new possibilities for size and power.
- They harness more power. The rise of remote work and the gig economy means that backers are seeking chargers that can charge larger devices than just their phones. The latest chargers can speedily push up 150W of power while remaining impossibly pocket-sized, effectively redefining the category.
- They’re tiny. Backers are seeking out chargers that eliminate bulk, making them easier to fit into an on-the-go lifestyle. Many campaigners compare their chargers to a credit card for scale.
- They’re all-in-one. Why charge one product when you can charge four? Charging products can handle an ever-increasing number of products, allowing backers to charge their laptops, phones powerbanks, and tablets simultaneously.
- They appeal to minimalists. Entrepreneurs know who their target audience is when it comes to charging products. Backers looking to cut back on clutter and fuss have a lot to gain from chargers that will free them from clunky power banks and unsightly wires.
- They’re keeping ahead of regulations. In January 2020, the EU passed a resolution that would require tech companies to release only one type of charger. EU legislators are looking to target electronic waste and protect consumers from needing to purchase a new charger whenever they buy a new device. Efficient, all-in-one chargers will help fill in a market need as more devices become universally compatible.
Got an idea for a charging product?
Trends change with technology and backer needs, but for now one thing is certain: Charging products — and the demand for them — aren’t going anywhere. Entrepreneurs looking for a new category to explore would do well to explore chargers and how they can fit a need or audience that hasn’t already been met.
Feeling inspired? Launch a campaign on Indiegogo today!