The Light Control Switches Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Light Control Switches Global Market Report 2024, The light control switches market size has grown strongly in recent years. It will grow from $7.12 billion in 2023 to $7.82 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to energy efficiency regulations, demand for traditional lighting systems, urbanization and infrastructure growth, environmental awareness, commercial and industrial use, government incentives.
The light control switches market size is expected to see strong growth in the next few years. It will grow to $11.21 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to led lighting adoption, electrification of transport, cybersecurity in lighting, urban farming and vertical agriculture, smart home integration. Major trends in the forecast period include biometric authentication methods, smart lighting control, wireless connectivity technologies, adoption of data analytics and insights, human-computer interaction.
Increasing usage of LEDs and other lamps is expected to propel the growth of the light control switches market going forward. The light-emitting diode (LED) is the most energy-efficient and rapidly-developing lighting technology. Quality LED light bulbs to offer better light quality, last longer, and are more durable. The lighting control switches are added to LEDs and other lamps to aid in reducing electricity wastage while simultaneously encouraging energy efficiency. For instance, according to Warehouse-Lighting.com, a US-based manufacturer of lighting products, by 2030, the LEDs are expected to make up 87% of the source of lighting. Therefore, an increase in the usage of LEDs and other lamps will promote the growth of the light control switches market.
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The light control switches market covered in this report is segmented –
1) By Product Type: Switches, Dimmer
2) By Switch Solution: Standalone Switch Solution, Integrated Switch Solution
3) By Light Source: Incandescent, Fluorescent, High-Intensity Discharge, Light Emitting Diode, Compact Fluorescent Lamp (CFL)
4) By Application: Residential, Commercial, Industrial, Highways And Roadways Lighting, Architectural Lighting, Lighting For Public Places, Other Applications
Technological advancements have emerged as a key trend gaining popularity in the light control switches market. Major players in the market are adopting advanced technologies to launch efficient products in the market. For instance, in May 2021, Orro, a US-based company operating in smart living systems, introduced a new control switch with Alexa capability built into the unit. New Orro Switches are integrated with built-in Alexa’s ESP (Echo Spatial Perception) ensures that the switch closest to the person speaking responds and provides the smart light control, integrated control of other devices, and built-in voice control all from a single device and also provides checking the weather or news, setting timers and reminders.
Top Major Players
Acuity Brands Inc.,
Honeywell International Inc.,
General Electric Company,
Leviton Manufacturing Company Inc.,
Lutron Electronics Co.
The light control switches market report table of contents includes:
1. Executive Summary
- Light Control Switches Market Characteristics
- Light Control Switches Market Trends And Strategies
- Light Control Switches Market – Macro Economic Scenario
- Global Light Control Switches Market Size and Growth
- Light Control Switches Market Segmentation
- Light Control Switches Market Regional And Country Analysis
…………….
- Global Light Control Switches Market Competitive Benchmarking
- Global Light Control Switches Market Competitive Dashboard
- Key Mergers And Acquisitions In The Light Control Switches Market
- Light Control Switches Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Light Control Switches Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Light Control Switches Market, Segmentation By Switch Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Light Control Switches Market, Segmentation By Light Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………
Table 75: Acuity Brands Inc. Financial Performance
Table 76: Honeywell International Inc. Financial Performance
Table 77: General Electric Company Financial Performance
Table 78: Leviton Manufacturing Company Inc. Financial Performance
Table 79: Lutron Electronics Co. Inc Financial Performance
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