Government initiatives and policies for energy savings to drive the growth of light control switches market. The light control switches market is estimated to grow from USD 6. 6 billion in 2020 and projected to reach USD 10.
New York, March 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Light Control Switches Market by Product Type, Communication Technology, End-use Application, Switch Solutions, Light Source, Geography - Global Forecast to 2025" - https://www.reportlinker.com/p03932649/?utm_source=GNW
1 billion by 2025, at a CAGR of 8.9%. The major factors driving the growth of the light control switches market include the advent of integrated lighting control systems, ongoing and upcoming smart city projects in developing economies, increasing adoption and reduction in prices of LEDs, and growing awareness about energy savings among consumers and governments worldwide. Factors such as lack of awareness regarding installation cost and payback period for smart lighting solutions and privacy and security issues with smart lighting control are restraining the growth of the light control switches market.
Wired technology is expected to hold a larger share of the light control switches market by 2025.
Currently, the light control switches and dimmers based on wired technology are widely adopted for different types of structures as this technology offers reliable connectivity, with no limitation on long-distance data transfer.Wired communication technologies for light control switches and dimmers include Digital Addressable Lighting Interface (DALI), Power-line Communication (PLC), and various wired hybrid protocols, which include company-specific proprietary protocols.
Wired protocols offer reliable performance and greater control; thus, the technology held the largest share of the market.
Highways & roadways to hold the largest size of light control switches market for outdoor application during the forecast period.
The highways & roadways lighting application segment holds the largest market share of the outdoor light control switches application due to government support and subsidies encouraging the installation and use of smart light control solutions. As of now, the latest trend in the street lighting segment is the replacement of existing street lighting sources with LED street lights to reduce energy consumption significantly.
Light control switches market in APAC expected to grow at highest CAGR during the forecast period “
The light control switches market in APAC is expected to grow at the highest CAGR during the forecast period.This growth is attributed to rapid infrastructure building activities being undertaken in APAC, mainly in China and India, where smart light control solutions pave the way for the modernization of infrastructure.
Factors such as the ever-growing population, increasing per capita income, as well as vast geographic expansions, have indirectly contributed to the growth of the market for light control switches in the Asian countries.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with the key experts.
The breakup of the profiles of primary participants is as follows:
• By Company Type: Tier 1 – 45 %, Tier 2 – 30%, and Tier 3 – 25%
• By Designation: C-level Executives – 25%, Directors – 40%, Others – 35%
• By Geography: North America – 45%, Europe – 20%, APAC – 25%, and RoW – 10%
Some of the major players in the light control switches market are Signify (Philips Lighting) (Netherlands), Legrand S.A. (France), Eaton Corporation (Ireland), General Electric Company (US), and OSRAM Licht (Germany), Acuity Brands, Inc. (US), Leviton Manufacturing Company, Inc. (US), Lutron Electronics (US), Schneider Electric (France), Honeywell International Inc. (US), Ideal Industries (US), Adesto Technologies (Echelon Corporation), Panasonic (Japan), Helvar (Finland), LightwaveRF PLC (UK), RAB Lighting (US), Synapse Wireless (US), and Dialight PLC (UK).
This report covers the light control switches market based on product type, end-use application, communication technology, switch solutions, light source, and geography. A detailed analysis of the key industry players has been done to provide insights into their business, products and services, and key strategies such as product launches, product developments, partnerships, contracts, agreements, mergers and acquisitions, collaborations, and expansions associated with the light control switches market.
Reasons to Buy the Report:
• Illustrative segmentation, analysis, and forecast pertaining to the light control switches market based on product type, end-use application, communication technology, switch solutions, light source, and geography have been conducted to provide an overall view of the light control switches market.
• Major drivers, restraints, opportunities, and challenges for the light control switches market have been detailed in this report.
• The report includes a detailed competitive landscape of key players in the market and their market ranking.
Read the full report: https://www.reportlinker.com/p03932649/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001