Light Control Switches Market Demand, Growth Factors, Supply & Forecast to 2022
The global Light Control Switches Market is expected to exhibit a good growth potential till 2022. The overall market is expected to reach USD 6.25 Billion (in terms of value) and 2.85 Billion units (in terms of volume) by 2022, at a CAGR of 7.9% and 8.8%, respectively, between 2016 and 2022. The increasing consumer demand for energy-saving lighting systems, convergence of IoT and lighting, favorable government initiatives, and acceptance of standard protocols for lighting control are the major factors driving the growth of this market.
In the light control switches market by product type, dimmers are expected to have a higher growth rate than switches as they are increasingly replacing the latter. This is largely because dimmers help extend the shelf life of the light sources by eliminating the need to constantly switch the light on or off, which is a major factor diminishing the lifecycle of the light source.
Of all the light sources, the light control switches market for incandescent and halogen light source is expected to decline at a negative CAGR during the forecast period due to the increasing regulations across all regions that aim at phasing out the traditional light source-based lamps and replacing them with energy-efficient lighting such as LED.
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The light control switches market for the other end users segment is expected to register the largest shipment owing to the demand for energy-efficient lighting systems in workplaces. The commercial lighting segment is also expected to witness significant growth as these places are large in terms of area and require an efficient lighting system to help control the cost of electricity.
Residential lighting is expected to lead the light control switches market for end users in terms of volume
The rebound in housing in North America and Europe as well as the urban growth in Asia-Pacific is expected to drive the consumption of light switches & dimmers by residential end users. The commercial end users is expected to lead the market size in terms of value owing to the faster penetration of high-value products such as wireless switches & dimmers compared to residential sector.
Light control switches market for electronic switches is 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 a very high growth during the forecast period.
The market in the RoW region is expected to grow at the highest rate during the forecast period
The market in Rest of the World (RoW) which includes Middle East & Africa and Latin America is expected to grow at the highest CAGR between 2016 and 2022 because of the rapid electrification and urbanization in Africa and also the increasing expenditure on infrastructure development in the Middle East.
The key players in this market are Legrand (France), Leviton (U.S.), Lutron (U.S.), (U.S.), Cooper Industries (U.S.), Hubbell Lighting (U.S.), Honeywell International Inc. (U.S.), Philips N.V. (Netherlands), and Osram (Germany).
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