Light Control Switch Market

Light Control Switch Market Size

[170+ Pages Research Reports] to surpass USD 16.4 billion by 2032 from USD 7.59 billion in 2021 at a CAGR of 7.3% in the coming years, i.e., 2022-32.

PRODUCT OVERVIEW

Light control switches are used to operate electric lights, electrical outlets, or permanently connected devices. To control lighting usage and lower energy costs, light controls are used. They help to dim, turn on, and off lighting, which saves energy. They are used to regulate lights more effectively than the common on/off wall switches. Lights are automatically turned on when motion is detected. Lighting management systems, which centralize lighting control for a whole home or workplace, use sensors and other components for lighting control. The Dimmer switches are replacing the manual switches, since they enable dimming of lamps in addition to turning them on or off.

MARKET HIGHLIGHTS

The Light Control Switch Market is expected to project a notable CAGR of 7.3% in 2032.

The development of integrated lighting control systems, current and future smart city initiatives in developing countries, and the rising popularity and falling cost of LEDs are the main factors propelling the growth of the Light Control Switch Market. Moreover, the industry is expanding as consumers and governments across the globe are becoming aware of the benefits of energy conservation.

FIGURE: MARKET ANALYSIS OF LIGHT CONTROL SWITCH MARKET

LIGHT CONTROL SWITCH MARKET: SEGMENTS

The Switches segment is expected to grow with a higher CAGR during 2022-32

Light Control Switch Market is categorized on the basis of Product Type into Switches and Dimmer. In 2020, the switches category dominated the global Light Control Switch Market, and it is anticipated continue to grow at the quickest rate throughout the forecast period. This is due to the global growth of the electric infrastructure, which raised the need for light switches.

The Residential segment is expected to grow with a higher CAGR during 2022-32

Light Control Switch Market is categorized on the basis of Application into Residential, Commercial, Industrial, Highways & Roadways Lighting, Architectural Lighting, and Lighting for Public Places. In 2020, the residential segment dominated the global Light Control Switch Market, and it is anticipated to continue to grow at the highest rate going forward. Rapid urbanization and rising demand from the residential sector are the reasons behind the growth of the segment.

FIGURE: MARKET ANALYSIS OF GLOBAL LIGHT CONTROL SWITCH

MARKET DYNAMICS

Growth Drivers: Government Support for Installation of Electric Switches and Improvements in Technologies

The demand for infrastructure in developing nations, the use of smartphones, the popularity of automation, the acceptance of wireless technology, and the rise in urbanization are the main factors driving the Light Control Switch Market. Builders and contractors are likely to be encouraged to use light control switches in their construction projects by government rules and regulations governing the installation of electric control switches in residential and commercial establishments as well as end users' preferences for feature-rich light control switches.

Rising Demand from Multiple End-Use Industries

The growth of the Light Control Switch Market is anticipated to be influenced by the rising need for energy-efficient lighting systems as well as the expanding demand for light control switches from various end-use industries. Also, the market will develop significantly as a result of the rising demand for automated houses and the usage of LED lighting. Growing wireless technology use and unexplored market potential for light control switches will also significantly contribute to the industry growth.

Restraint: High Installation Costs and Low Income of the Medium-Income Population Regions

The installation of Light Control Switches is expensive, which will slow the market growth. Moreover, the absence of internet connectivity in developing nations, and lack of installation knowledge will hinder market growth. In addition, it is anticipated that the medium-income population's low disposable incomes will pose the biggest obstacles to the growth of the Light Control Switch Market in the upcoming years.

RECENT DEVELOPMENTS

• The second Euro 40 million tranche of a Euro 80 million funding program for Zumtobel Group's research and development efforts was given to the company in February 2019 by the European Investment Bank (EIB).
• Signify N.V. made the announcement in October 2019 that it will buy Cooper Lighting Solutions from Eaton for USD 1.4 billion in cash. The first quarter of 2020 is anticipated to see the completion of this transaction. Signify would improve its position in the North American professional lighting industry with this acquisition.
• The Sunnata touch dimmer, a stylish, user-friendly control that uses capacitive touch technology, was introduced by Luton in November 2019. This dimmer uses Lutron's LED+ Advanced Technology, which offers greater dimming for incandescent, halogen, and dimmable LED bulbs as well as dimmable LEDs.

LIGHT CONTROL SWITCH MARKET: KEY PLAYERS

• Panasonic

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• General Electric Company
• Schneider Electric
• Honeywell International Inc.
• Eaton Corporation
• Legrand S.A.
• Signify (Philips Lighting)
• OSRAM Licht AG
• Acuity Brands Inc.
• Leviton Manufacturing Company
• Ideal Industries
• Lutron Electronics
• Dialight PLC
• Synapse Wireless
• LightwaveRF PLC
• Other Prominent Players

LIGHT CONTROL SWITCH MARKET: REGION

Light Control Switch Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The APAC region held the higher share of the Light Control Switch Market globally in 2020 and is anticipated to expand at the remarkable CAGR during the projected period. The need for lighting control switches has grown over time as a result of the increased investment in infrastructure projects in the region's residential, commercial, and industrial segments. Also, the adoption of IoT-connected lighting systems has increased significantly in the region over time, which has influenced the adoption of smart switches.

IMPACT OF COVID-19 ON LIGHT CONTROL SWITCH MARKET

The COVID-19 pandemic's spread caused a temporary halt in the production of light control switches, which had a negative effect on their sales. Sales of light switches are directly correlated with construction activity. Construction has suffered as a result of the COVID-19 epidemic lockdown, and sales of light control switches plunged dramatically in 2020. This caused a drop in the sale of light control switches.

Light Control Switch Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

LIGHT CONTROL SWITCH MARKET IS FURTHER SEGMENTED BY REGION INTO:

Light Control Switch Market Segments:

• By Product Type 
  • Switches
  • Dimmer
• By Solution 
  • Standalone Light Control Solutions
  • Integrated Light Control Solutions
• By Communication Technology 
  • Wired Technology
  • Wireless Technology
• By Application
  • Residential
  • Commercial
  • Industrial
  • Highways & Roadways Lighting
  • Architectural Lighting
  • Lighting for Public Places 
• Light Control Switch Market Dynamics
• Light Control Switch Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

LIGHT CONTROL SWITCH MARKET REPORT SCOPE AND SEGMENTATION

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