The report titled “LED Bookmark Market: Global Demand Analysis & Opportunity Outlook 2020-2027” delivers detailed overview of the LED bookmark market in terms of market segmentation by light intensity, by battery, by distribution channel, and by regions into North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The two major applications of LED bookmark are marking the page for reader as well as serving as a reading light while reading, thereby driving the demand among the avid readers from across the globe. Regionally, the Asia Pacific market is expected to register the highest growth among all the regions owing to the rapid growth in population especially in China and India and the increasing urbanization prevailing across these regions. China and India hold the highest numbers of hours spent on reading. The growing applications of LED bookmarks among enthusiastic readers globally is estimated to expand the LED bookmark market by a modest CAGR during the forecast period, i.e., 2020-2027.
The factors supporting the growth of LED bookmarks makret can be attributed primarily to their durability. Apart from this, some of the LED bookmarks offers the user a reader friendly product, wherein the LED bookmark automatically shuts off, after the reader closes the book. The option to fold the bookmarks has also been provided that makes it more convenient for the consumer. These are some of the significant factors that are anticipated to support the growth of the market.
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The LED bookmark market is bifurcated by battery into rechargeable battery and non-rechargeable battery, out of which, the rechargeable battery segment is predicted to acquire highest market share on the back of their convenience to be charged over and again as compared to non-rechargeable battery that needs to be bought separately after it drains out. On the basis of distribution channel, the market is segmented to online and offline channels, out of which the online segment is anticipated to grow significantly on the back of growing penetration of internet users along with numerous benefits provided by online websites such as discounts and delivery of the product at the doorstep of the consumers.
However, absence of warranty on LED bookmarks supplied by local manufacturers along with growing competition among these market playersis estimated to hamper the growth of the market over the forecast period.
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Some of the brands operating in the market are Kyouei Design, Aluratek, Inc., Dewenwils, Lovelyhome, LEDmomo, Lightwedge, Biglight, Ubikort, Beesclover, SLB Works and others. On the whole, the report depicts detailed overview of the LED bookmarks marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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