The light control switches market is projected to reach US$ 12,696. 07 million by 2028 from US$ 7,997. 68 million in 2021; it is expected to grow at a CAGR of 6. 8% from 2021 to 2028. Light control switches are used to regulate or control the quality, level, or pattern of light as per the user’s requirement.
New York, April 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Light Control Switches Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Switch Solution, Connection Type, and End User" - https://www.reportlinker.com/p06270015/?utm_source=GNW
The increasing penetration of advanced light control in commercial and outdoor lighting owing to the focus on energy efficiency is one of the major factors driving the light control switches market.
The light control switches market is segmented on the basis of switch solution, connection type, end user, and geography.Based on switch solutions, the light control switches market is bifurcated into standalone switch solutions and integrated switch solutions.
Based on connection type, the light control switches market is bifurcated into wired and wireless.By end user, the light control switches market is segmented into commercial, residential, industrial, and public utilities.
Based on geography, the light control switches market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.
Lighting is an important aspect of everyday life; it makes houses more secure, comfortable and welcoming for residents and guests.Lighting also has a significant impact on the well-being of occupants, and smart lighting systems bring elegance, ambiance, convenience, and energy efficiency to a residential complex.
According to a 2019 survey by the National Association of Home Builders in the US, only around 15% of homeowners have a smart lighting management system, and around 40% would prefer having these systems in their homes.The demand for smart lighting solutions has surged over the years from homeowners across the world.
The growing popularity of home automation, connected households, and mood lighting is the key factor influencing the adoption of smart lighting solutions. The demand for smart lighting solutions among the residential complexes drives the light control switches market growth.
North America is a well-developed economy, and the individuals have high disposable incomes owing to the high per capita income of the country.Therefore, owing to the high disposable incomes and strong buying power of the customers, the demand for light control switches is high in the region.
Moreover, the high adoption rate of consumer electronics is among the other factors driving the adoption of automated solutions across the industries.The increasing population of North America and changing family structures created the demand for electronic appliances.
The presence of the major light control switches market players, such as Acuity Brands, Inc.; Honeywell International Inc.; and Leviton Manufacturing, in the US supports the light control switches market growth. Moreover, technological advancement and supportive government initiatives are also expected to amplify the light control switches market growth in North America during the forecast period.
Impact of COVID-19 Pandemic on Light Control Switches Market
There has been a disruption in the supply chain of many industries due to restrictions in logistics and the closing of manufacturing facilities.In the region, the COVID-19 outbreak has negatively impacted manufacturing and construction businesses in four critical areas—supply chain/operations, workforce, 2020 investments, and product offering.
Even though all construction activities have been allowed to continue in most parts of the US and Canada since the start of the COVID-19 pandemic, many projects in the bidding or final planning stages have been delayed or cancelled. As a result, the companies operating in the light control switches market have stopped the production of a product for some time.
Nonetheless, in 2021, with the uplifting of lockdown restrictions and vaccination processes, the manufacturing plants have started again, which helps in creating a positive scenario for the light control switches market growth.The ongoing infrastructure investments and smart city projects have added momentum to the region’s construction industry.
Engineering and construction firms are key enablers of this powerful vision for upgrading infrastructure to incorporate sensing technology and data analytics that could contribute to making buildings and demand for switches high.
The global light control switches market is analyzed based on geography - North America, Europe, APAC, MEA, and SAM.The APAC accounted for the highest share in the global light control switches market in 2020 and is also expected to grow at the largest CAGR over the forecast period.
The rising investment in infrastructural developments across the region across sectors like residential, commercial, and industrial segments is driving the demand for lighting control switches over the years.Lighting systems being one of the major parts of any infrastructural development, the rise in newer and redevelopment construction projects indirectly impacts the demand for lighting solutions and light control switches.
Additionally, the region over the years has also experienced a significant rise in the adoption of IoT connecting lighting systems thereby influencing the adoption of smart switches. These factors are further contributing to the growth of the light control switches market.
Panasonic Corporation; Eaton; Savant Systems Inc.; Acuity Brands Inc.; and Leviton Manufacturing Co., Inc. are a few players operating in the global light control switches market and profiled in the market study .
The overall light control switches market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the light control switches market size.
The process also serves the purpose of obtaining an overview and forecast of the light control switches size with respect to all the market segments.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic.
Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the light control switches market.
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