Light Control Switches Market worth .1 Billion USD by 2025, at CAGR of 8.9%Posted by Vikas Gadiya on November 15th, 2022 Attractive Opportunity: Supercharge your Visualization 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. The light control switches market is estimated to grow from USD 6.6 billion in 2020 to USD 10.2 billion by 2025, growing at a CAGR of 8.9% during the forecast period. Automotive held the largest share and is projected to grow at the highest CAGR during the review period. Increasing demand for automotive in developing countries, technological innovations in the automotive industry, such as electric cars, fuel-efficient cars, connected cars, and growing competition in the market, are expected to drive the HMI market for the automotive industry. Technological progress, such as the development of new software solutions with advanced capabilities, brings more functionality, ease of use, and lower cost of automation products, which have further led to the evolution of HMI software offering, thereby increasing their adoption in the automotive sector. Light Control Switches Market : Top Leading Companies Profiles Key Benefits For Stakeholders: 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 very high growth during the forecast period. 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). Light Control Switches Market - Geographical Regional Vision by MarketsandmarketsTM APAC accounted for a significant share of the light control switches market in 2019. APAC is expected to be the fastest-growing region for the light control switches market during the forecast period owing to the rapid infrastructure-related activities being undertaken in this region, mainly in China, where smart lighting paves 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. Regions & Countries Covered: MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently, servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions. Like it? Share it!More by this author |