Bulb Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2023 to 2033
Analysis of Bulb Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Bulb Market Outlook (2023 to 2033)
When it comes to home decor one can’t skip on lights. As lights elevate the looks of space it also adds spaciousness to a room. Levitating lights are innovative emitting bulbs which is floating in the air with an electromagnetic effect.
The wireless power transfer technology is the basis for the levitating light bulb's ability to emit light while floating in the air. It is made up of an electromagnet, a wireless power receiver and transmitter, and a shatterproof bulb.
LEDs have taken over Vintage bulbs due to less electricity consumption by the latter. At present, the revenue of the lamps and light market segment amounts to USD 83.94 billion in 2023. This revenue is expected to grow with a CAGR of 4.47% by 2027. The light market is expanding as a result of technological advancements and developments. The global market is anticipated to increase as a result of consumer demand for new, inventive products and changes in personal lifestyles. Magnetism and induction are used in conjunction with power.
The base, which is connected to a typical power source, and the unusually manufactured light from the unit. The levitating light bulb is propelled upward by the opposing magnetic forces as gravity pulls it below. The bulb is being managed by induction in the interim. Similar to how it would heat a pot on a stove, the electromagnetic field warms the coil inside the levitating light.
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What are the drivers of demand in this market?
Lights have prominent importance in growing interior design services as the right choice of lights can elevate the look of space. These lights give the space a contemporary and royal appearance. The market is projected to be driven by the desire for decorative showcase products to draw viewers. The demand for wireless power transmission technology and lights is expected to increase due to consumer demand for products that are affordable, reliable, adaptable, and easy to deploy.
The rising interest of people in home décor favors the growth of the market
Because of its few drawbacks and the fact that electromagnetic waves used in the bulb's operation are not particularly dangerous to people, the product is gaining popularity. The market is anticipated to benefit greatly from people's propensity to employ various ornamental items.
Additionally, the demand for levitating light is anticipated to increase over the course of the forecast period due to consumer preferences for new products and changing lifestyles. The expansion of the global market for levitating light is anticipated to be constrained by the unaffordability of these bulbs due to their high cost and accessible availability.
Innovative technologies to propel growth in demand.
LED technology has become one of the driving forces behind new innovations like a miniature bulb and levitating bulbs and their applications. Mechanical constraint, diamagnetic levitation, superconductor levitation, currents induced in a conductor, and electromagnetic suspension are technologies transforming bulbs. These technologies are further expected to elevate the demand for these bulbs in the market.
What are the opportunities waiting for manufacturers?
The creation of a wireless energy transmission system that is sustainable is the focus of researchers and innovators. Bulb sales are projected to increase globally as a result of many associations and testing facilities supporting the development of water-purification technology.
The novel designs are focused on a combination of magnetism and induction. The device is made up of a base that is connected to a regular power source and a specifically designed lightbulb. Some of the kick-starters for the development of these bulbs are Flyte, Crealev, and others.
The magnetism acts as an opposing force to gravity, which pushes the lightbulb upward as it is drawn towards the base. This light is powered by induction at the same time. Similar to how it would heat a skillet on a stove, the electromagnetic field warms the coil inside the bulb.
Manufacturers are expected to look for alternative materials and reduced e-waste while production. Sustainable manufacturing of bulbs is anticipated to bring a swift uptake in this market.
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The market can be segmented on the basis of geographies such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA (the Middle East and Africa).
The market gets lucrative opportunities across developed and developing countries owing to the demand for more economical and sustainable products. Moreover, developing regions such as South Asia & Latin America provide favorable growth prospects in the market.
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Based on Application :
Based on Regions :
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
- FAQs -
The market for Bulbous expected to be dominated by South Asia.
The market for levitating light bulbs is expected to be driven by the desire for beautiful display items to attract onlookers.
Flyte and Crealev are the top players in Bulb Market.