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US Book Light
Consumers in the U.S. now have more confidence in reviews and ratings. Prior to completing a purchase, about 73.5%
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATE, April 16, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“U.S. Book Light Market by Product Type, Category, and Distribution Channel: U.S. Opportunity Analysis and Industry Forecast, 2022–2031,” the U.S. book light market size is expected to reach $288.1 million by 2031 at a CAGR of 8.9% from 2022 to 2031.
The surge in penetration of internet and increase in adoption of smartphones, tablets, and desktops have significantly fueled the demand for online shopping among the U.S. customers in the past decade, which has significant contribution to the growth of the U.S. book light market. The rising expenditure of the various leading book light manufacturers toward increasing their digital presence is expected to be the most important driver of the U.S. book light industry during the forecast period. Furthermore, offline stores such as bookstores, supermarkets & hypermarkets, and home improvement stores are the major distribution channels that the market players are focusing on to generate their revenues. Moreover, the leading players are engaging in developmental strategies like new product launches with innovative features to attract customers. For instance, in September 2022, Glocusent launched the new Glocusent Eye Caring Music Stand light which is mainly marketed towards music creators. This light is equipped with 57beads and offers various color and brightness level controls. This launch has expanded its product offering.
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Consumers in the U.S. now have more confidence in reviews and ratings. Prior to completing a purchase, about 73.5% of shoppers examine reviews on Amazon, according to the Amazon Consumer Behavior Report 2021. In addition, around 75.9% of shoppers look up pricing on Amazon before making a purchase. Other significant internet merchants in the U.S. include Walmart, Target, and eBay. Therefore, the e-commerce and online retail platforms are expected to dominate the U.S. book light market in the upcoming years.
Two important factors that are expected to boost book light sales in the U.S. are the availability of book lights in a wider variety and quantity of brands. Customers have a wide range of options, including rechargeable book lights, battery-operated book lights, neck lights, clip lights, and bookmark lights. As book lights are sold at low or competitive prices, customers benefit from the cut-throat competition in the market. Manufacturers strive to create innovative book lights in order to attract more customers, which motivates them to invest in R&D. As a result, the expansion of the U.S. book light market is being facilitated by the accessibility of a broad range of goods with distinctive and innovative features.
Book lights provide comfort to the eyes by providing direct and focused illumination onto the pages of a book and prevent fatigue & strain on the eyes. The book light is one of the common devices used by book readers who usually prefer to read books before bed. The surge in preference of people to read books for gaining knowledge, learning, entertainment, and discovering information coupled with the presence of a significant number of bibliophiles are the major factors behind the growing U.S. book light market demand. It is estimated that over 153 million book readers were there in the U.S. in 2021. According to the survey conducted by Myvision, about 93% of Americans read a book in 2022. On average, one American read 5 books in 2022. The rise in the demand for books and upsurge in consumer expenditure on books in the U.S. are expected to foster the U.S. book light market growth during the forecast period. The total consumer expenditure on reading in the U.S. was $12.1 million in 2019. It reached around $14.9 million in 2020 and $15.3 million in 2021.
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The U.S. book light market is segmented on the basis of product type, category, and distribution channel. By product type, the market is segregated into clip light, neck light, and bookmark light. On the basis of category, it is bifurcated into battery-operated and rechargeable. Depending on the distribution channel, it is segmented into supermarkets & hypermarkets, specialty stores, e-commerce, and others.
As per the U.S. book light market trends, by product type, the clip light segment dominated the market, garnering 62.6% of the U.S. book light market share in 2021. This is mostly attributable to the clip lights' wide availability and elevated visibility in the U.S. Demand for the clip light is expected to rise as users' interest in reading before bed grows. Many Americans practice reading before bed. A clip light is the best option for these readers as it makes it easier to read in low light without disturbing others in the space.
According to the U.S. book light market forecast, by category, rechargeable was the leading segment in 2021 and is expected to remain dominant during the forecast period. Rechargeable book lights are widely available in supermarkets, retail stores, bookstores, and online retail stores, which have significantly increased their sales. The popularity of online shopping sites such as Amazon, eBay, and Walmart further drives the sales of rechargeable book lights, as is the accessibility of a wide range of rechargeable book light brands and products at competitive costs.
As per our comprehensive study, Glocusent unequivocally emerges as the number one brand on Amazon, demonstrating a commanding lead in its market segment. Illustrating robust performance, Glocusent's market share fluctuated between 36.4% and 36.9% in 2022, with notable surges to over 43% during peak season, affirming its significant influence within the marketplace.
Key Market Players : Glocusent, Energizer Holdings, Inc., Vekkia, Mighty Bright, Hooga Health, Lepower, Deeplite, WITHit, LLC., OttLite Technologies, Inc.
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Key findings of the study :
. The U.S. book light market size was valued at $112.5 million in 2021, and is projected to reach $288.1 million by 2031, registering a CAGR of 8.9% from 2022 to 2031.
. By product type, the neck light segment is expected to be the fastest-growing segment, growing at a CAGR of 9.4% from 2022 to 2031.
. By category, the rechargeable segment dominated the market and is expected to sustain its dominance during the forecast period.
. By distribution channel, the e-commerce segment is expected to witness the highest CAGR of 13.9% from 2022 to 2031
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Allied Market Research
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