Dublin, May 13, 2022 (GLOBE NEWSWIRE) -- The "Light Control Switches Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Switch Solution, Connection Type and End User" report has been added to ResearchAndMarkets.com's offering.
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.
The real estate industries in developed and developing countries have experienced rapid growth over the years with the rise in investments by both private and public entities to develop advanced infrastructures, including hospitals, shopping complexes, and other commercial buildings. This is boosting the light control switches market.
Lighting plays a crucial role across commercial complexes, thereby bolstering the demand for cost and energy-efficient lighting systems. This is directly driving the demand for light control switches, thus boosting the growth of the light control switches market size.
The onset of the COVID-19 pandemic hindered the growth of the light control switches market in 2020. The social restrictions imposed by governments and the temporary shutdown of construction activities across developed and developing countries declined the demand for light control switches in residential, commercial, and industrial sectors as well as public utilities. Additionally, in 2020, disruptions in supply chains adversely affected the manufacturing of the light control switches, leading to low production volumes. This negatively impacted the light control switches market growth.
The lockdown measures, imposed due to the COVID-19 pandemic, substantially affected the demand of light control switches and generation mix since increased electronic consumption could not compensate for considerable decreases in industrial, commercial, and tertiary operations. The severity and length of the measures imposed during the lockdown declined the demand for switches. Different European Countries had different COVID-19 protocols. Countries, such as Italy, Germany, and France, established rigorous containment measures, whereas other countries, such as Sweden and Switzerland, took a softer approach. In 2020, due to changes in social habits and the closure of factories, the light control switches market growth declined significantly in comparison to 2019.
Many industries, such as manufacturing and construction, have been hindered by the COVID-19 pandemic. In 2020, the manufacturing companies in Europe were negatively affected as they made losses due to a decline in sales of products and services to consumers. The growth of the light control switches market in Europe also declined in 2020 due to the outbreak. The imposition of lockdowns closed various businesses and industrial operations. Thus, the demand for standalone switch solutions and integrated switch solutions in commercial, residential, public utilities, and industrial end-users declined.
From mid-2021, most businesses and industrial operations in Europe reopened and have been supporting the Europe light control switches market size since then. There is a high spending on installing control switches in residential, commercial buildings, and industries. The awareness regarding the importance of smart switches is increasing due of the pandemic. Hence, the light control switches market is expected to grow in the future as construction work has resumed.
The light control switches market is segmented on the basis of switch solution, connection type, and end user. Based on switch solution, the light control switches market is bifurcated into standalone switch solution and integrated switch solution. Based on connection type, the light control switches market is bifurcated into wired and wireless. Based on end user, the light control switches market is segmented into commercial, residential, industrial, and public utilities. Geographically, the light control switches market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.
Key Findings of Study:
The use of light control switches across the commercial sector offers custom lighting and touchless controls, and supports rigorous hygiene practices. Advancements in lighting control switches meant for commercial applications, coupled with the rise in demand for efficient light control switches from industries such as healthcare, are further contributing to the growth of the light control switches market. Hospitals use light control switches to control the lighting systems across hospital rooms. Light dimmer switches with LED lamps or pulse-width modulation (PWM) controllers with LED lamps are adopted actively to adjust the lighting density across patient wards and surgery rooms in hospitals. The hospitals use regular ON/OFF switches in this circuit to regulate the lights in three different ways - maximum light, medium light, and minimum light.
Light control switch manufacturers operating in the global light control switches market have increased their investments in offering light control switches specifically designed for commercial applications. For instance, Legrand North America, LLC. offers radiant 20A Wave Switch integrated with touch-free technology for commercial applications. This technology supports the hygienic operation of switches across commercial complexes, which remain crowded with a larger number of individuals, thereby ensuring safety from germs and diseases. Thus, a rise in the integration of light control switches from both the demand and supply sides is expected to contribute to the growth of the global light control switches market during the forecast period.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global light control switches market
- Highlights key business priorities to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global light control switches market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Light Control Switches Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.2.2 Europe - PEST Analysis
4.2.3 Asia-Pacific - PEST Analysis
4.2.4 Middle East and Africa - PEST Analysis
4.2.5 South America - PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Light Control Switches Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Smart Home Lighting
5.1.2 Increasing Construction of Commercial Complexes
5.2 Market Restraints
5.2.1 Low Adoption Across Developing Countries
5.3 Market Opportunities
5.4 Future Trends
5.4.1 Large-Scale Integration of Light Control Switches in Commercial Complexes
5.5 Impact Analysis of Drivers and Restraints
6. Light Control Switches Market - Global Analysis
6.1 Light Control Switches Market Global Overview
6.2 Light Control Switches Market - Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players
7. Light Control Switches Market Analysis - by Switch Solution
7.1 Overview
7.2 Light Control Switches Market Breakdown, by Switch Solution, 2020 and
7.3 Standalone Switch Solution
7.3.1 Overview
7.3.2 Standalone Switch Solution: Light Control Switches Market Revenue and Forecast to 2028 (US$ Million)
7.4 Integrated Switch Solution
7.4.1 Overview
7.4.2 Integrated Switch Solution: Light Control Switches Market Revenue and Forecast to 2028 (US$ Million)
8. Light Control Switches Market Analysis - by Connection Type
8.1 Overview
8.2 Light Control Switches Market, by Connection Type (2020 and 2028)
8.3 Wired
8.3.1 Overview
8.3.2 Wired: Light Control Switches Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Wireless
8.4.1 Overview
8.4.2 Wireless: Light Control Switches Market - Revenue and Forecast to 2028 (US$ Million)
9. Light Control Switches Market Analysis - by End User
9.1 Overview
9.2 Light Control Switches Market, by End User (2020 and 2028)
9.3 Commercial
9.3.1 Overview
9.3.2 Commercial: Light Control Switches Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Residential
9.4.1 Overview
9.4.2 Residential: Light Control Switches Market - Revenue and Forecast to 2028 (US$ Million)
9.5 Industrial
9.5.1 Overview
9.5.2 Industrial: Light Control Switches Market - Revenue and Forecast to 2028 (US$ Million)
9.6 Public Utilities
9.6.1 Overview
9.6.2 Public Utilities: Light Control Switches Market - Revenue and Forecast to 2028 (US$ Million)
10. Light Control Switches Market - Geographic Analysis
11. Light Control Switches Market - COVID-19 Impact Analysis
11.1 Overview
11.1.1 North America COVID-19 Impact Analysis
11.1.2 1.1.2 Europe COVID-19 Impact Analysis
11.1.3 APAC COVID-19 Impact Analysis
11.1.4 MEA COVID-19 Impact Analysis
11.1.5 South America COVID-19 Impact Analysis
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 ACUITY BRANDS, INC.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Eaton
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Honeywell International Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 LEGRAND SA
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Leviton Manufacturing Co., Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Lutron Electronics Co., Inc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 OSRAM GmbH
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Panasonic Corporation
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Schneider Electric SE
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Helvar
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/q4puhq
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