Attractive Opportunity: Supercharge your Visualization
The
major factors driving the growth of the light control switches market
include the advent of integrated lighting control systems, ongoing and
upcoming smart city projects in developing economies, increasing
adoption and reduction in prices of LEDs, and growing awareness about
energy savings among consumers and governments worldwide.
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Industry Trends of the Global Light Control Switches Market:
1. Signify completed the acquisition of Fluence from ams OSRAM (SIX: AMS).
2. OSRAM (SIX: AMS) expanded its partnership with Roleds, a global
smart IoT solutions provider specialized in smart city lighting, to
provide highly innovative and efficient LED lighting technology.
3. Hubbell Incorporated (NYSE: HUBB) entered into a definitive
agreement to sell its commercial and industrial lighting business to GE
Current, a Daintree company.
What are the Driving Factors of Evolution of technologies and consolidation of Light Control Switches Market?
The light control switches market is estimated to grow from USD 6.6 billion in 2020 to USD 10.2 billion by 2025, growing at a CAGR of 8.9% during the forecast period.
Automotive held the largest share and is projected to grow at the highest CAGR during the review period.
Increasing
demand for automotive in developing countries, technological
innovations in the automotive industry, such as electric cars,
fuel-efficient cars, connected cars, and growing competition in the
market, are expected to drive the HMI market for the automotive
industry. Technological progress, such as the development of new
software solutions with advanced capabilities, brings more
functionality, ease of use, and lower cost of automation products, which
have further led to the evolution of HMI software offering, thereby
increasing their adoption in the automotive sector.
Light Control Switches Market : Top Leading Companies Profiles Key Benefits For Stakeholders:
Electronic switches are expected to exhibit high growth during the forecast period.
Electronic switches include wireless switches, sensor-based switches, and others. The adoption of electronic switches is increasing owing to their ability to control lights effectively and ensure higher energy savings, leading to very high growth during the forecast period.
Major players in the light control switches market are Signify (Philips Lighting) (Netherlands), Legrand S.A. (France), Eaton Corporation (Ireland), General Electric Company (US), and OSRAM Licht (Germany), Acuity Brands, Inc. (US), Leviton Manufacturing Company, Inc. (US), Lutron Electronics (US), Schneider Electric (France), Honeywell International Inc. (US), Ideal Industries (US), Adesto Technologies (Echelon Corporation), Panasonic (Japan), Helvar (Finland), LightwaveRF PLC (UK), RAB Lighting (US), Synapse Wireless (US), and Dialight PLC (UK).
Light Control Switches Market - Geographical Regional Vision by MarketsandmarketsTM
APAC to hold the largest share of light control switches market during the forecast period.
APAC accounted for a significant share of the light control switches market in 2019. APAC is expected to be the fastest-growing region for the light control switches market during the forecast period owing to the rapid infrastructure-related activities being undertaken in this region, mainly in China, where smart lighting paves the way for the modernization of infrastructure. Factors such as the ever-growing population, increasing per capita income, as well as vast geographic expansions, have indirectly contributed to the growth of the market for light control switches in the Asian countries.
Regions & Countries Covered:
North America - (U.S., Canada, Mexico)
Europe - (U.K., France, Germany, Italy, Spain, Rest of Europe)
Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
Latin America - (Brazil, Argentina, Rest Of Latin America)
The Middle East & Africa - (GCC Countries, South Africa, Rest Of the Middle East & Africa)
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