The Global Light Control Switches Market size is expected to reach $9.4 billion by 2027, rising at a market growth of 4.9% CAGR during the forecast period.
A light control switch is an instrument that is used to regulate the operation of electrical lights, outlets, or other permanently attached light-related equipment. A light control switch can be used to turn lights on and off or modify light output up or down with a dimmer. Light control switches are primarily used to cut energy expenditures and promote sustainability, as well as to suit the lighting requirements of the user.
Various sorts of switches are utilized depending on the lights, including proximity switches, push-button light switches, dimmer light switches, and far more. This solution allows the user to control them using smartphone or tablet. With an extensive assortment of commercial lighting and control solutions that are simple to specify, light control switches enable customers to create more efficient areas.
Additionally, while compact fluorescent lamps (CFLs) and light-emitting diodes (LEDs) use little electricity, their demand grows, necessitating the use of light control switches. Moreover, advances in the electronic industry resulted in the emergence of Wi-Fi switches and remote switches that can be used to manage lights from a distance. Wi-Fi light switches work with a variety of hubs and can usually be connected to a home automation system. Also, the market for light control switches is influenced by urbanization and industrialization, due to the increasing number of residential and commercial properties.
Moreover, the flexibility offered by light control switches, the ease of implementation, the variety of switches designed for multiple purposes, and the enhancement of the customer's ease are all factors that drive the growth of the light control switches market.
The outbreak of the COVID-19 caused a major decline in the economy of the world as governments were forced to impose lockdowns in their countries in order to regulate the spread of the pandemic. Moreover, Construction sales are closely proportional to light control switch sales. Construction industry has been negatively impacted by the COVID-19 pandemic, which ultimately resulted in a significant drop in light control switch sales in 2020. Because of the COVID-19 pandemic, the production of light control switches was halted for a long period of time. The downfall in the demand for light control switches was also caused by the decrease in demand for electronics.
According to the UNIDO, due to the uncertainty and lack of revenue during the lockdown, 30.0–70.0 percent of pre-COVID-19 workers in various industries, viz. electrical and other third-party suppliers, relocated to their hometowns. This lack of worker availability had a direct impact on production and manufacturing activities, resulted in a decrease in demand for raw materials utilized in light control switches.
In the era of rapid adoption of modernization, people are widely undergoing urbanization. The penetration of the latest advanced and cutting-edge technologies across rural or less developed areas is continuously increasing. Due to the rapid diffusion of urbanization across the world, a significant number of buildings including residential buildings as well as commercial infrastructures that are being constructed over a wide area are recorded.
Global warming, the depletion of fossil fuel reserves, and rising energy expenses are all having a significant negative impact on society. Unnecessary and excessive consumption of energy is one of the primary issues. The cost of operations including commercial and residential uses, in the present, is driven by it. There is gap between the consumption and production of energy across the world, wherein, consumption is increasing at a rapid pace, which is a major concern for the authorities. Aware consumers are opting for the products that are energy efficient with minimum or zero effect on environment.
LED dimmers can help the user to save costs on their electric bill, which is why so many individuals have installed them in their homes across the world. However, there is one major drawback that they are prohibitively expensive. light control switches are more expensive than regular light switches because these switches comprise more components in comparison of regular light switches.
Based on the Solution, the Light control switches market is divided into Standalone Light Control Solutions and Integrated Light Control Solutions. In 2020, the Integrated Light Control Solutions segment procured a substantial revenue share of the light control switches market. It is owing to the fact that users can change the lighting situations in a specific space using integrated lighting controls. Several LED lighting manufacturers offer IoT-enabled control solutions that allow customers to manage lighting from their smartphones and other internet-connected devices.
Based on the Light Source, the Light control switches market is segregated into Incandescent, Fluorescent, High-intensity Discharge, Light Emitting Diode, and Compact Fluorescent Lamp (CFL). In 2020, the Fluorescent segment garnered a promising revenue share of the light control switches market. Fluorescent lights comprise a number of benefits over older lighting technologies such as incandescent. Because fluorescent lighting technology is widely available, they are becoming more accessible for people.
Based on the Communication Technology, the Light control switches market is segmented into Wired Technology and Wireless Technology. In 2020, the wired segment garnered the highest revenue share in the light control switches market. This is owed to the rise in urbanization and infrastructure development. Digital Addressable Lighting Interface (DALI), Power-line Communication (PLC), and numerous wired hybrid protocols, which include various company-specific proprietary protocols, are among the wired communication technologies used in the light control switches industry.
Based on the Product Type, the Light control switches market is bifurcated into Switches and Dimmer. In 2020, the dimmer segment held a significant revenue share of the light control switches market. One of the most significant advantages of dimmers switches is that they allow the user to control the flow of power throughout their home's numerous lighting sources. In addition, it enables them to save up to 98 percent of their electricity by dimming a single light bulb.
Based on the Application, the Light control switches market is categorized into Residential, Commercial, Industrial, Highways & Roadways Lighting, Architectural Lighting, and Lighting for Public Places. In 2020, the lighting for public places segment acquired the highest revenue share in the light control switches market. The utilization for this segment is continuously increasing due to the higher requirement of enhanced lighting across various public places such as schools, hospitals. In addition, public lighting is a fundamental service delivered by local and municipal governments to their citizens.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 6.9 Billion |
| Market size forecast in 2027 | USD 9.4 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 4.9% from 2021 to 2027 |
| Number of Pages | 330 |
| Number of Tables | 553 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Solution Type, Light Source, Communication Technology, Product Type, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on the region, the Light control switches market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2020, Asia-Pacific emerged as the leading region in the light control switches market with the maximum revenue share. This is due to population growth and fast urbanization across the emerging nations of the region. In areas with a high population, the requirement as well as consumption of lights in both the residential as well as commercial sector is frequently increasing.
Free Valuable Insights: Global Light Control Switches Market size to reach USD 9.4 Billion by 2027
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; General Electric (GE) Co. and Honeywell International, Inc. are the forerunners in the Light Control Switches Market. Companies such as Signify N.V., Acuity Brands Lighting, Inc., Lutron Electronics Co., Inc. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ideal Industries, Inc., Signify N.V., Acuity Brands Lighting, Inc., Lutron Electronics Co., Inc., Panasonic Corporation, Eaton Corporation PLC, General Electric (GE) Co., Honeywell International, Inc., Schneider Electric SE, and Legrand S.A.
By Solution Type
By Light Source
By Communication Technology
By Product Type
By Application
By Geography
The global light control switches market size is expected to reach $9.4 billion by 2027.
A growing number of smart city projects are driving the market in coming years, however, IoT in smart cities necessitates large initial investments limited the growth of the market.
Ideal Industries, Inc., Signify N.V., Acuity Brands Lighting, Inc., Lutron Electronics Co., Inc., Panasonic Corporation, Eaton Corporation PLC, General Electric (GE) Co., Honeywell International, Inc., Schneider Electric SE, and Legrand S.A.
The Standalone Light Control Solutions market acquired maximum revenue share in the Global Light Control Switches Market by Solution Type 2020, thereby, achieving a market value of $6.4 billion by 2027.
The Light Emitting Diode market is generating high growth rate in the Global Light Control Switches Market by Light Source 2020, growing at a CAGR of 5.1% during the forecast period.
The Asia Pacific market is the fastest growing region in the Global Light Control Switches Market by Region 2020, and would continue to be a dominant market till 2027.
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