LED night light is a small light fixtures, usually electric, which are placed for comfort and convenience in dark area at certain times, such as at night or in an emergency. According to the latest study by Global Info Research, the Global LED night lights market size estimated at US $340.9 million in 2021 due to the COVID-19 pandemic is projected to grow at an adjusted size of US $431.9 million through 2028 at a CAGR of 3.4% over the review period.
Globally, the LED small night light industry has a low market concentration. Some companies, such as Sinofield, Eaton, OSram, GE Lighting, etc., are known for their LED night lights and related services. The consumption of small LED night lights is related to downstream industries and the global economy. As COVID-19 2019 brings some uncertainty to the global economy in the next few years, the LED night light industry may not keep growing as fast. However, what is certain is that the LED small night light market is very promising.
With the rapid growth of emerging economies, most of the leading suppliers in the LED nightlight market have adopted a strategy to approach these areas. LPI's analysis of the LED night light market shows high demand in Asia Pacific regions such as China, India and Southeast Asia. Vendors recognize the importance of the region and are working to tap into this market by strengthening their sales and distribution networks.
Although the global LED night light market is highly competitive, there are many companies that can make substantial profits from the manufacturing and marketing of LED night lights, which is why we believe that there will also be companies entering this market. All in all, it is recommended that enterprises with plans to enter this industry carefully analyze this market and their own advantages and disadvantages.
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Post time: Jul-21-2022