Electronic Alarm Clock Market Size, Share, Growth, and Industry Growth by Type (LED, LCD, and Others), By Application (Home Use and Travel Use) Regional Forecast (2022-2028)

REPORT OVERVIEW

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The global electronic alarm clock market size is estimated to be USD 182.6 million in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the global electronic alarm clock experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 239.1 million by 2028, exhibiting a CAGR of 4.6% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The electronic alarm clocks are designed to make a signal / alarm at a specific time. In an electric bell-style alarm clock, the bell is rung by an electromagnetic circuit and armature that turns the circuit on and off repeatedly. The advantage of digital alarm clocks over analogue alarm clocks is that they require less power, the time can be set or reset easily and displays the time in digits. The digital alarm clock employs a 24 Hr format using an LED display the alarm can be set to a specific time. Alternatively, the digital alarm clock circuit can also be used to turn ON/OFF after a specific time.

COVID-19 Impact: Halt in Electronics Industry to Impede Market Growth

The effects of the COVID-19 pandemic were felt on every industry and the global electronic alarm clock market was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. Owing to the significant impact on the electronics industry as there was closure on the sale of electronics. Halt on the production in the manufacturing plants led to affecting demand for electronics and simultaneous products.

Due to lockdown all things remained closed such as supermarket, hypermarket, and brand stores, which led to huge disruption in the distribution channel. E-commerce has played a significant role in uplifting supply chain and distribution channels since consumers started avoiding in store purchases due to the spread of Wuhan virus diseases. Recovery of the market is expected owing to the sale of electronics such as smart wearable alarm watches.

LATEST TRENDS

"Rising Urbanization to Support Market Development"

The global electronic alarm clock market share is proposed to drive due to growing urbanization. One of the reasons, the market is expected to have opportunities. Rapid digitalization and technological advancements which has propelled spending on consumer electronics. Improved functionality and advanced models of smartwatches require continuous Internet connection. This is enabled owing to the increase in the disposable income and led to increase in the power consumption. Increasing busy schedules of people is expected to create the demand for electronic alarm clocks. Such trend expansion of urbanization is expected to pose an opportunity for market growth during the forecast period.

SEGMENTATION

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• By Type

Based on type; the market is divided into two LED, LCD and others.

LEDs are the leading part of the type segment.

• By Application

Based on application; the market is divided into home use and travel use.

Home use is the leading part of the application segment.

DRIVING FACTORS

"Heavy Demand for Operational Activities to Assist Product Demand"

The global electronic alarm clock market growth is projected to develop due to surge in the demand for consumer electronics. Alarm clocks are commonly used to manage daily life activities such as waking up, sleeping, reminders for medicines and going out for some important meetings. Schools use alarm for its operational activity and many small-scale industries use it for efficient management such as changeover of regular operational activities in specific intervals. Increasing competition amongst manufacturers in the market due to strong presence in the region is another reason for the market growth. Growing adoption of alarm clocks is anticipated to drive the market  and provide profitable opportunities for the market.

"Rising Trend of Using Light Alarm Clocks to Inflate Market Growth"

Normal alarm clocks make a very weird noise and give a sudden jerk, light alarm clocks slowly increase the lights in the room such as natural sunrise and make a pleasant sound to wake individuals. These innovations in alarm clocks attract new consumers, as these alarm clocks are  trendy and have a great appearance.  Rise in trend of using light alarm clock is a prominent factor that is anticipated to drive the market growth during the forecast period.

RESTRAINING FACTORS

"Increasing Smart Wearables to Hinder Market Growth"

New wearable smart alarm watches work on Internet of Things (IOT) technology and come with loaded features such as setting reminders and showing weather reports. These smart wearable alarm watches are re-chargeable with normal chargers; smart wearable alarm watches are user friendly & gain prominence in daily life. These are the significant factors impeding the growth of the global electronic alarm clock markets.

REGIONAL INSIGHTS

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"North America to Lead the Market Owing to Rapid Urbanization"

North America holds the largest part of the global electronic alarm clock. There has been increasing usage of alarm clocks by the working class that is expected to drive the demand for the market. Technological advancements and digitalization in the developing countries is estimated to bring maximum sales. Presence of major market players in the region is anticipated to fuel the market share. Presence of a large number of manufacturing facilities in countries is expected to drive the market share. North American Countries are anticipated to contribute maximum to facilitate the share of the market. Companies in these regions use online channels to reach and provide to the consumers which is projected to drive the demand for the product.

KEY INDUSTRY PLAYERS

"Innovations in Technology to Increase the Number of Consumers"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

"List of Market Players Profiled"

●    SDI Technologies (U.S.)

●    Philips Electronics (Netherlands)

●    Braun (Germany)

●    Emerson Radio Corporation (U.S)

●    LEXON (France)

●    Oregon Scientific (U.S.)

●    Westclox (U.S.)

●    Compas (U.S.)

●    Sonic Alert (U.S.)

●    Acctim (U.S.)

●    AcuRite (U.S.)

●    La Crosse Technology (U.S.)

●    Gingko Electronics (U.K)

●    Polaris Clock (China)

●    SONY (Japan)

●    Electrohome (Canada)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.