The Global LED Desk Lamp Market was $5.8 Bn in 2020, and it is expected to reach $14.5 Bn by 2030. It is eventually growing at a commendable high compound annual growth rate CAGR of 9.6% between 2020-2030. The LED desk lamp is a small size lamp that can rest on the table for educational or any other purpose. However, the increasing popularity of the smart home décor, developing economy of China and India propel the product demand. Thus, the market is spreading all over the regions. Moreover, in the current pandemic of COVID-19 might make a slight difference in the growth rate in the current year. Now, Moving forward, the robust demand for Global LED Desk Lamp Market in the home décor manufacturing department is further estimated to create new necessities and augment the market of growth over the forecast period of 2020-2030.
LED desk lamps are presently one of the best product used by students for studying, whether they belongs to any age. This market is attributed towards growing number of students online as well as offline. These lamps are also used in offices or homes for doing desk jobs, which in turn saves electricity as well as eyes of the employees. Pandemic has also supported the growth of the market as number of students have increased over online education mode and most of them prefer to study with the support of these lamps. According to survey done by Sheer Analytics and Insights Limited, around 60% use these LED lamps while studying or working. Asia Pacific is expected to lead the market during forecast period.
Global LED Desk Lamp Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The global LED Desk Lamp market is segmented as a product, distribution channel, and application. By the product, the global LED desk lamp market is divided as a Decorating lamp and reading lamp. By Distribution Channel, the LED desk lamp market is bifurcated as the Offline and online. By application, the global LED Desk lamp market has been segmented as Household and commercial.
By Region, Asia Pacific is Holding the Major Market Share
The global LED Desk Lamp Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, Asia Pacific has a significant share among those regions. It is reported that around 35% share hold by the Asia Pacific region over the year. The global LED desk lamp market growth rate is driven by the increasing demand for the adoption of the LED lamps in the residential across China, India, and the nearest country people. Apart from the Asia Pacific, North America and the Rest of the regions are expected to increase the growth rate over the upcoming forecast period of 2020 to 2030.
Major Players in Global LED Desk Lamp Market
The report covers a detailed outlook of the company, and it includes the market share and company or industry profiles of key players operating in the global market. Key players in the report include Koninklijke Philips N.V., OSRAM GmbH, Ningbo Liangliang, General Electric Company, SYSKA LED, Panasonic Corporation, GUANYA, OPPLE Lighting, Donghia, Inc., Yingke Lighting Electric Co., Ltd., Toshiba, MaxLite, Brightech, Tomons, and Lumiy among others.
The Global LED Desk Lamp Market Has Been Segmented into:
Global LED Desk Lamp Market: By Product
Global LED Desk Lamp Market: By Distribution Channel
Global LED Desk Lamp Market: By Applications
Global LED Desk Lamp Market: By Region