The global LED table lamps market size is expected to reach
USD 13.37 billion by 2025 registering a CAGR of 15.2%, according to a new
report by Grand View Research, Inc. Rising demand for the energy-efficient lighting
system owing to increasing awareness about global warming is the key factor
driving the product sales. In addition, growing popularity of smart homes,
especially in developing economies including China and India, is propelling the
product demand.
Major manufacturers are introducing advanced
products to gain maximum market share. For instance, in December 2016, General
Electric Company launched a table lamp that features Amazon’s ‘Alexa’. The
company has collaborated with Amazon to fix lamp over the top of Echo Dot
device. The new product can be operated through a voice command. Thus, such
product innovations in the market are also expected to fuel the industry growth
over the forecast period.
Decorative products was the largest segment in
2018 with a market share of more than 60%. Asia Pacific is expected to be the
fastest-growing regional market at a CAGR of 16.1% from 2019 to 2025. Key
companies in the region are focusing on product optimization along with
technological and product innovation to cater to the increasing demand, which
is likely to boost the APAC market. For instance, in June 2019, Xiaomi launched
its latest LED table lamp for housing segment under the brand name ‘Mi Table
Lamp 1S’ in China.
The new product has four different modes and
has its own voice-controlled smart assistant. Some of the prominent companies
in the global market are Koninklijke Philips N.V.; OSRAM GmbH; Ningbo
Liangliang; General Electric Company; SYSKA LED; Panasonic Corp.; GUANYA; OPPLE
Lighting; Donghia, Inc.; and Yingke Lighting Electric Co., Ltd.
For full research report on LED Table
Lamps Market visit here:
https://www.grandviewresearch.com/industry-analysis/led-table-lamps-market
Further key
findings from the study suggest:
- Commercial application segment led the global
LED table lamps market in 2018 and will retain its dominant position
throughout the forecast years due to wide product usage in offices,
restaurants, etc.
- Decorative lamps is expected to be the
fastest-growing as well as the largest product segment during the forecast
years
- Offline distribution channel is the largest
segment; however, online segment will expand at the maximum growth rate
from 2019 to 2025
- APAC will be the largest and fastest-growing
market from 2019 to 2025 due to the presence of emerging economies along
with a number of initiatives and policies encouraging the usage of
energy-efficient lighting system
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/led-table-lamps-market/request/rs1
Grand
View Research has segmented the global LED table lamps market on the basis of
product, application, distribution channel, and region:
LED Table
Lamps Product Outlook (Revenue, USD Million, 2015 - 2025)
- Reading
- Decorative
LED Table
Lamps Application Outlook (Revenue, USD Million, 2015 - 2025)
- Household
- Commercial
LED Table
Lamps Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Offline
- Online
LED Table
Lamps Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Central & South
America
- Brazil
- Middle East &
Africa
- Egypt
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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