The light control switch market is expected to reach US$12,696. 07 million by 2028 from 7,997 USD. 68 million in 2021; it is expected to grow at a CAGR of 6.8% from 2021 to 2028. Lighting control switches are used to regulate or control the quality, level or pattern of light according to the needs of the user.
New York, April 21, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Lighting Control Switches Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Switch Solution, connection type and end user” – https://www.reportlinker.com/p06270015/?utm_source=GNW
Growing 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 switch market.
The lighting control switch market is segmented on the basis of switch solution, connection type, end user, and geography. On the basis of switch solutions, the lighting control switch market is divided into stand-alone switch solutions and integrated switch solutions.
Based on connection type, the light control switch market is divided into wired and wireless. By end-user, the lighting control switch market is segmented into utility, residential, industrial, and utility.
Based on geography, the lighting control switch market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America.
Lighting is an important aspect of everyday life; it makes homes safer, more comfortable and welcoming for residents and guests. Lighting also has a significant impact on occupant well-being, and smart lighting systems bring elegance, ambience, convenience and energy efficiency to a residential complex.
According to a 2019 survey by the National Association of Home Builders in the United States, only around 15% of homeowners have a smart lighting management system, and around 40% would prefer to have these systems in their home. The demand for smart lighting solutions has grown over the years from homeowners all over the world.
The growing popularity of home automation, connected homes and mood lighting is the key factor influencing the adoption of smart lighting solutions. The demand for smart lighting solutions among residential complexes is driving the growth of lighting control switches market.
North America is a well-developed economy and individuals have high disposable incomes due to the country’s high per capita income. Therefore, due to high disposable incomes and strong purchasing power of customers, the demand for lighting 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 industries. North America’s growing population and changing family structures have created the demand for electronic devices.
The presence of major players in the lighting control switch market, such as Acuity Brands, Inc.; Honeywell International Inc.; and Leviton Manufacturing in the United States is supporting the growth of the lighting control switch market. Additionally, technological advancements and supporting government initiatives are also expected to amplify the growth of the North America lighting control switches market over the forecast period.
Impact of the COVID-19 Pandemic on the Lighting Control Switches Market
There has been a disruption in the supply chain of many industries due to logistical restrictions and the closure of manufacturing facilities. In the region, the COVID-19 outbreak has negatively impacted manufacturing and construction companies in four critical areas: supply chain/operations workforce, 2020 investments and product offering.
Although all construction activity has been allowed to continue in most parts of the United States and Canada since the onset of the COVID-19 pandemic, many projects in the bidding or planning phase final have been delayed or cancelled. As a result, companies operating in the light control switch market have stopped production of a product for a period of time.
Nevertheless, in 2021, with the lifting of lockdown restrictions and vaccination processes, manufacturing plants have restarted, which helps create a positive scenario for the growth of the lighting control switches market. Ongoing investments in infrastructure and smart city projects have given impetus to the region’s construction industry.
Engineering and construction companies are the main enablers of this powerful vision of upgrading infrastructure to incorporate sensing technology and data analytics that could help make buildings and switch demand high.
The global lighting control switches market is analyzed based on geography – North America, Europe, APAC, MEA and SAM. APAC accounted for the highest share of the global lighting control switches market in 2020 and is also expected to grow at the largest CAGR over the forecast period.
Growing investment in infrastructure developments across the region in sectors like residential, commercial and industrial segments are driving the demand for lighting control switches over the years. Since lighting systems are one of the main parts of any infrastructure development, the increase in construction projects has an indirect impact on the demand for lighting solutions and lighting control switches.
Moreover, over the years, the region has also witnessed a significant increase in the adoption of IoT connection lighting systems, thus influencing the adoption of smart switches. These factors are further contributing to the growth of the lighting control switches market.
Panasonic Corporation; Eaton; Savant Systems Inc.; Acuity Brands Inc.; and Leviton Manufacturing Co., Inc. are few players operating in the global lighting control switches market and profiled in the market study.
The overall Lighting Control Switch market size has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research was conducted using internal and external sources to obtain qualitative and quantitative insights related to the Lighting Control Switches market size.
The process also serves to get an overview and forecast of the size of Lighting Control Switches with respect to all market segments. topic.
Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers and national sales managers, as well as external consultants such as evaluation, research analysts and key opinion leaders, specializing in the Lighting Control Switches market.
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