Light Control Switches Market Forecasts To 2022 explores Global Light Control Switches market outlook in the developed and emerging markets with trends affecting the global market. The global Light Control Switches market is projected to reach USD 2.85 billion by 2022, at a CAGR of 7.9%.
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Digital Substation Company analysed in report are Osram GmbH (Germany), Legrand (France), Schneider Electric (France), Honeywell International (U.S.), Acuity Brands (U.S.), Philips N.V. (Netherlands), Cooper Industries (U.S.), Hubbell Lighting (U.S.), Leviton (U.S.), and Lutron (U.S.)
The penetration of advanced lighting control in outdoor and commercial lighting owing to the increased focus on energy-efficient lighting is the major driver for growth of the market. The geographic segmentation in the report covers the four major regions of the world, namely, North America, Europe, APAC, and RoW.
Commercial end users to be the leading segment in terms of value of the light control switches market during the forecast period.
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Commercial end users such as offices, retail outlets, hotels, and restaurants are expected to be the major adopters of advanced lighting controls as they have to reduce energy wastage. As commercial end users adopt high-value sensor-based and timer-based switches for lighting control, they are expected to become the leading end users in terms of value during the forecast period.
The market in Asia-Pacific is expected to grow at a high rate in the overall market till 2022. The combination of multiple factors make Asia-Pacific the most dynamic region in the light control switches market.
Asia-Pacific has some of the fastest-growing emerging economies, namely, India and China; it also has technologically and economically advanced economies such as Japan and South Korea.
Furthermore, there are many countries within Asia-Pacific which are witnessing rapid urbanization; hence, the overall growth and demand for infrastructure is higher in APAC compared to Europe and North America. Countries in the Asia-Pacific region have started bringing in regulations to increase the usage of lighting controls, which is majorly driving the growth of the market for light control switches.
The breakdown of primary interviews is given below.
- By Company Type: Tier 1 – 20%, Tier 2 – 45%, and Tier 3 – 35%
- By Designation: C-Level – 35%, Director Level – 25%, and Others – 40%
- By Region: North America – 30%, Europe – 20%, APAC – 45%, and RoW – 5%
The report will help the market leaders/new entrants in this market in the following ways:
This report caters to the needs of leading companies, industries, component manufacturers, and other related stakeholders in this market. Other parties that could benefit from the report include government bodies, environmental agencies, consulting firms, business development executives, C-level employees, and VPs.
Our report would help analyze new opportunities and potential revenue sources and enhance the decision-making process for new business strategies. The quantitative and qualitative information in the report, along with our comprehensive analysis, would help a player to gain a competitive edge in the market.
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