Light Control Switches Market Scope 2031
The light control switches market size is projected to reach US$ 12.14 billion by 2031 from US$ 6.73 billion in 2023. The market is expected to register a CAGR of 7.70% during 2023–2031. The rising demand for smart home lighting and the increasing construction of commercial complexes are likely to be the key drivers and trends of the market.
Light Control Switches Market Analysis
The light control switches market is experiencing significant growth globally. This growth is attributed to the rising demand for smart home lighting and the increasing construction of commercial complexes. Moreover, larger-scale integration of light control switches in commercial complexes, growing government regulations and incentives, and smart home integration are anticipated to drive the light control switch market in the coming years.
Light Control Switches Market Overview
A light control switch is a switch that is commonly used to operate permanently connected equipment, electric lights, or electrical outlets. Portable lamps, including table lamps, may have a light switch mounted on the socket, base, or in line with the cord. There are several kinds of light control switches, including single-pole light switches, double-pole light switches, dimmer switches, rocker switches, combination light switches, double light switches, triple light switches, and others.
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Light Control Switches Market: Strategic Insights
Market Size Value in US$ 7,997.68 Million in 2021 Market Size Value by US$ 12,696.07 Million by 2028 Growth rate CAGR of 6.8% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Light Control Switches Market: Strategic Insights
| Market Size Value in | US$ 7,997.68 Million in 2021 |
| Market Size Value by | US$ 12,696.07 Million by 2028 |
| Growth rate | CAGR of 6.8% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Light Control Switches Market Drivers and Opportunities
Rising Demand for Smart Home Lighting to Favor Market
Smart lights are light bulbs and lighting fixtures that can detect and interact automatically with their environments and with users and other smart devices. The smart lighting demand is growing. This growth is attributed to energy conservation, as smart lighting consumes less energy. The landscape of home lighting is rapidly evolving, with smart lighting systems not only providing a means to personalize and enhance living spaces but also addressing the larger goal of energy efficiency. As technology advances, the integration and interoperability of smart lighting with home systems will likely become a standard homeowner expectation. Thus, increasing integration and demand for smart home lighting are driving the light control switches market.
Technological Advancement in the Light Control Switches.
The technological advancement in light control switches can create significant opportunities in the light control switches market. Smart switches that optimize energy usage can attract eco-conscious consumers and businesses looking to reduce electricity costs. Increasing integration of remote-control automation and customization and personalization and safety and security. Moreover, technological improvement can lead to more good designs of light to attract customers.
Light Control Switches Market Report Segmentation Analysis
Key segments that contributed to the derivation of the light control switches market analysis are switch solution, connection type, and end-user.
- Based on switch solutions, the light control switches market is divided into standalone switch solutions and integrated switch solutions. The standalone switch solution segment is anticipated to hold a significant market share in the forecast period.
- Based on connection type, the light control switches market is divided into wired and wireless. The wired segment is anticipated to hold a significant market share in the forecast period.
- By end user, the market is segmented into commercial, residential, industrial, and public utilities. The commercial segment is anticipated to hold a significant market share in the forecast period.
Light Control Switches Market Share Analysis by Geography
The geographic scope of the light control switches market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
APAC has dominated the light control switches market. High technology adoption trends in various industries in the region have fuelled the growth of the light control switches market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the APAC light control switches market growth. The rising demand for smart home lighting and increasing construction of commercial complexes in the region. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the APAC players to bring technologically advanced solutions into the market. In addition, the US has a large number of light control switch market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the light control switches market.
Light Control Switches Market Report Scope
Light Control Switches Market News and Recent Developments
The light control switches market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the light control switches market are listed below:
- This spring, Forbes & Lomax launches its new multiway dimmer switch. The dimmer switch allows you to dim light from up to three locations without the need for additional packs. Multiway dimmer switches can be retrofitted with ease. (Source: Forbes & Lomax Company Website, May 2024)
- ABB introduced Busch-art linear, a range of high-quality light switches that can be integrated into building automation systems and offer sustainability and premium design. (Source: ABB Company Website, March 2024)
Light Control Switches Market Report Coverage and Deliverables
The "Light Control Switches Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Light control switches market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Light control switches market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Light control switches market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the light control switches market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Switch Solution, Connection Type, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global light control switches market is expected to reach US$ 12.14 billion by 2031.
The expected CAGR of the light control switches market is 7.7%.
The rising demand for smart home lighting and the increasing construction of commercial complexes are some of the factors driving the light control switches market.
APAC is anticipated to dominate the light control switches market in 2023.
The key players holding majority shares in the global light control switches market are ACUITY BRANDS, INC., Eaton, Honeywell International Inc., LEGRAND SA, Leviton Manufacturing Inc., Lutron Electronics Co., Inc, OSRAM GmbH, Panasonic Corporation, Schneider Electric SE, Helvar.
Large-scale integration of light control switches in commercial complexes is anticipated to drive the market in the forecast period.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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