Bizizz Market Research has recently published a research report, “LED Table Lamps Market By Product Type (Decorative and Reading), distribution channel (online and offline), Application (commercial and household), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global LED Table Lamps Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 12.3 Bn by 2027, witnessing a CAGR of 11.4 % during the forecast period. ncreasing popularity of home décor coupled with advancement in the lighting systems are propelling its market demand.
Increase smart home market in developing economies constituting of India and China are propelling the adoption of LED table lamps. The consumers are shifting their preference towards energy efficient lighting sources supporting to the considerable change in climate in recent years. LED lamps could consume about 80% lower power in comparison to incandescent lamps. Moreover, these offerings are attaining popularity by its durability and operational efficiency. The shelf life of LED lamps is higher than 40% in contrast to other lamps. Such factors are projected to stimulate the growth of global LED table lamps market during the forecast period. However, various initiatives of government to standardize the energy consumption, subsidies of LED lighting are anticipated to poise a positive influence in the global market growth.
The LED Table Lamps market is anticipated to register a CAGR of over 11.4% during the forecast period.
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By Product, decorative segment held a key share in Global LED Table Lamps Market in 2018.
The decorative segment is estimated to a considerable market share in 2018. It could be credited to the benefits associated with it such as lightweight, energy efficiency, and durability of these products. These offering are majorly adopted in commercial and residential sector for indoor lighting. However, by the introduction of technological advancements of offerings including voice control and AI enabled LED Table lamps ARE anticipated to exhibit rapid growth during the forecast period.
Asia pacific region is Anticipated to Dominate the Global LED Table Lamps Market during the Forecast Period
The Asia Pacific is projected to be the vital revenue generator of global LED table lamps market. The region is anticipated to exhibit fastest growth during the forecast period. India is the largest contributor to LED table Lamps market in Asia Pacific. The manufacturers are concentrated in introducing new products among developing countries including China and India that are estimated to increase its market growth.
Global LED Table Lamps market was highly fragmented among the number of local and global players. The organizations are competing in the global market by offering innovative products to the enc-users.
Prominent players operating in the Global LED Table Lamps Market are: SYSKA LED, Koninklijke Philips N.V., General Electric Company, Ningbo Liangliang, and OSRAM GmbH., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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