Introductory Overview
A bookmark is nothing but a measure of marking a specific place in a document so that it can be retrieved at any future date or time. Normally when we come across bookmarks, it is restricted to fulfilling just one objective, i.e. to mark the place in book in order to maintain the ease of reference for reader so he can continue from he has left. But, when we refer to LED bookmark, it serves twin objectives, i.e. to mark the page as well as serving as a reading light while reading. LED is an electronic device that emits light, when an electrical current is passed through it.
The market is segmented by battery into rechargeable battery and non-rechargeable battery. The rechargeable battery segment is estimated to occupy highest market share owing to the benefits offered to the consumers such as the benefit of recharging the bookmark light over and again after the battery is drained, unlike a non-rechargeable battery that is not rechargeable and is bought separately every time it drains out.
Although, the light emitted possesses limited brightness, bookmark light serves to fulfil the functions of performing as a bookmark when it stands flat and as an LED bookmark when it is folded.
Market Size and Forecast
The global LED lighting market currently worth a little more than USD 50 billion has penetrated several regional markets and is predicted to cross USD 100 billion by the end of 2027 by expanding at a CAGR of around 12% over the period 2019-2027. There is a significant boost in the LED lighting market as its uses are multifold and can be witnessed in indicator lights, advertising signboards and currently for lighting up homes too and these benefits are making this area a profitable opportunity for market players to capitalize on the benefits offered by LED lighting. The aspect of durability is another major factor that is driving the demand and aiding the growth of the global market.
LED Bookmark provides several benefits and one major benefit that a reader obtains is that it emits light right in front of the book while one is reading, thereby providing reading comfort to the reader. Some of the LED bookmarks offer reader-friendly facilities such as automatically shutting off the light once a person closes the book. These are some of the notable factors that are anticipated to drive the growth of LED bookmark market by a modest CAGR over the forecast period, i.e., 2020-2027.
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Growth Drivers
Active Steps Initiated To Conserve Energy Globally By Governments And Rise In Urban Population
Governments all over the world are encouraging all the stakeholders to participate in their efforts to reduce the consumption of energy that is becoming costlier owing to fast depleting natural resources that could affect the economy growth in different nations. The market has seen the entry of many notable players in the LED lighting segment and owing to rapid urbanization and change in attitude of the general global population towards conserving energy, the demand for LED lights has increased substantially which is further expected to impact the growth of the global market positively over the next decade.
Increased Life Span, Lesser Energy Consumption And Environment-Friendly
The life span of LED lights is expected to be anywhere ranging from 40,000 to 50,000 hours. Considering their life span, they are counted as a worthy investment among all the stakeholders. Additionally, they also consume lesser energy as compared to their predecessors, (i.e. traditional lighting systems) and are environment friendly owing to lesser requirements of usage of power, thereby reducing greenhouse gas emissions. Moreover, the growing popularity of LED bookmarks among the avid readers from across the globe is contributing towards the growth of the market.
Restraints
With huge presence of local manufacturers supplying LED bookmarks without offering warranty is estimated to hinder the demand for these bookmarks. Additionally, the growing competition among local market players is estimated to negatively affect the growth of the market during the forecast period.
Market Segmentation
Our-in depth analysis of the global LED bookmark market includes the following segments:
By Light Intensity
- Adjustable
- Non-Adjustable
By Battery
- Rechargeable
- Non-Rechargeable
By Distribution Channel
- Online
- Offline
On the basis of distribution channel, the online segment is estimated to witness rapid growth in terms of volume as well as revenue, owing to the shift in consumers’ preferences and attitude as well as market players offering several benefits such as discounts on the products purchased and delivery of the product at the doorstep of the consumer. Furthermore, the market is bifurcated by light intensity into adjustable and non-adjustable, out of which, the availability of different brightness levels is estimated to significantly drive the demand for adjustable LED bookmarks in the market.
Region-Wise Growth Highlights
On the basis of regional analysis, the global LED bookmark market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Asia Pacific region comprising mainly of countries such as China, India and Japan is holding the highest market share mainly owing to shift noticed among consumers towards opting for LED lights that are comparatively cost efficient along with the efforts taken up by governments in playing an active role to educate consumers about the benefits of shifting to LED lights that are considered to consume lesser energy as compared to the traditional lights. Additionally, countries such as China and India are among the countries that hold highest numbers of hours spent on reading. Such factors are anticipated to drive the growth of LED bookmark market in Asia Pacific region.
The global LED bookmark market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Competitive Landscape
Some of the brands operating in the market are Kyouei Design, Aluratek, Inc., Dewenwils, Lovelyhome, LEDmomo, Lightwedge, Biglight, Ubikort, Beesclover, SLB Works and others.
