New digital technology — Shared charging point(power bank sharing)has convinced people’s life.

Introduction of power bank sharing

Rental devices that are offered by businesses are charged on shared charging devices. Consumers can rent a charging device by using their mobile device to scan the QR code on the screen of the device to deliver a deposit. If the charging device is successfully returned, the deposit can be withdrawn and restored to the user’s account at any time. Data from research organisations revealed in April 2021 that there were more than 200 million users of internet shared rechargeable devices countrywide in 2020, surpassing the 4.4 million mark.

History of development

The rechargeable battery, which made its debut in 2001, was the precursor to shared rechargeable batteries. Rechargeable batteries were developed for a few years before the sharing economy idea of shared rechargeable batteries first appeared in 2014. With the advent of the sharing model, big retail malls, public transportation hubs, and other congested areas quickly were occupied by shared rechargeable batteries in March 2017. Businesses quickly followed the trend of investing. In September 2017, China’s market for shared rechargeable batteries entered a cooling-off period as a number of tiny businesses withdrew from the industry, ultimately leaving only a limited number of large-scale businesses, including Meituan and Guaishou, which currently holds 96.3% of the market.

Number of people using

According to MediaResearch data, there are 305 million shared rechargeable battery users in China as of 2019, and that figure is expected to increase to 505 million by 2021.

The terminal’s durability is under more pressure as a result of the introduction of 5G technology. With the 5G network’s increasing bandwidth for smartphones as crucial bearer terminals, the power consumption of the terminal also increased. In the case that the terminal range technology does not achieve a breakthrough in the near future, the demand for rechargeable batteries will also be further stimulated.

Usage Process

The process of borrowing a shared rechargeable battery can be roughly divided into four steps: scan the code — register — pay — lend, and the whole process normally takes less than three minutes. The return method is similar to bicycle sharing, where users can return the rechargeable battery according to its GPS location on the platform. To be more specific, the screen above the device indicates the operating procedure, cost tips, exception answers, tutorials on how to use it and a customer service number. The user opens WeChat or Alipay on their mobile phone to scan the code and a rechargeable device will automatically pop up. When the device is returned, the user’s mobile phone receives detailed information on the time and place of return, the length of the rental and the cost incurred.

Fees

You have to scan the code to pay regardless of the brand of shared rechargeable battery. Typically, a 100 yuan deposit is levied, which is automatically subtracted and reimbursed to your phone when you return the item. Certain individuals with excellent credit, however, may be able to avoid making a deposit and instead pay when the item is returned. Typically, the first hour is free, followed by a 5 yuan fee for each consecutive hour, with a daily ceiling of 20 yuan. If you didn’t return it, your credit would suffer and you won’t be able to borrow anymore.

Demand scenario

Many people think that it is good to bring a rechargeable battery with them, but people often forget to bring it and due to many temporary situations lead to increased power consumption of mobile phones, and it is very inconvenient to go out without a battery in this digital society. Shared rechargeables can be found in almost every independent business, not to mention shopping centres. People can use their phones without worrying if they are out of battery.

Examples

An employee uses his phone during a meeting to show a document to his colleagues at the meeting. When he got off work, his phone was only 6% charged. The colleague around him didn’t have a charger but he wanted to go home, so he went downstairs to borrow a shared charger and returned it to the supermarket below his home. Although he paid 5 yuan, he thought it worth it because he doesn’t need wait at company which save his time.

Disadvantages

The original intention of shared charging is to provide products and services at a lower price. When they were first introduced to the market, they were cheap to consume and paid a few cents or a few dollars for a single use. But after progressive price increases, the price of shared charging devices has long since ceased to be “affordable”. In addition, some rechargeable cables are also starting to deteriorate and not work well. Furthermore, on 6 December 2020, the Net Security Bureau of the Ministry of Public Security officially issued an important alert: Shared charging devices may be implanted with Trojan horse programs, which may steal users’ personal information once they are inserted into their mobile phones.

Development

Nowadays, the development of shared rechargeable battery has entered into white heat. In China, the market of shared rechargeable battery has occupied 80% of the market, and 20% of the market is in small counties in remote areas? Shared charging treasure has already opened the door to other countries, and our company has already developed shared charging treasure to other countries, like the United States, Malaysia, France, Germany, Japan, United Kingdom and other countries.

Conclusion

To sum up, as an emerging industry, there is a lot of room for growth in shared charging. Digital technology will help it grow more sustainably, not only developed in China but also all over the world.