Press release
Light Control Switches Market Report 2024: Strategies And Recent Developments | Acuity Brands Inc., Honeywell International Inc., General Electric Company, Leviton Manufacturing Company Inc
Light Control Switches Market Characteristics
The Business Research Company offers in-depth market insights through Light Control Switches Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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.
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Market Segmentation:
The main types of light control switches are switches and dimmers. The dimmer light control switches are used for controlling the brightness of connected light fixtures. Light dimmers change the voltage waveform applied to the lamp in order to increase or decrease the intensity of the light output. The different switch solutions include standalone switch solutions and integrated switch solutions. The various light sources are incandescent, fluorescent, high-intensity discharge, light-emitting diode, and compact fluorescent lamp (CFL) which are used in numerous applications such as residential, commercial, industrial, highways & roadways lighting, architectural lighting, and lighting for public places, others.
Major Driver - Rapid Led Adoption Illuminates Growth For Light Control Switches Market
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.
Competitive Landscape:
Major companies operating in the light control switches market include Acuity Brands Inc., Honeywell International Inc., General Electric Company, Leviton Manufacturing Company Inc., Lutron Electronics Co. Inc., Panasonic Corporation, Schneider Electric SE, Signify N.V., Havells India Ltd., Hubbell Incorporated, Daintree Networks Inc., LightwaveRF PLC, Synapse Wireless Inc., Rockwell Automation Inc., Legrand S.A., Eaton Corporation PLC, Osram Licht AG, Zumtobel Group AG, Dialight PLC, RAB Lighting Inc., Cree Inc., Johnson Controls International plc, ASEA Brown Boveri Ltd., Siemens AG, WAGO Kontakttechnik GmbH & Co. KG, Control4 Corporation, Savant Systems LLC, Crestron Electronics Inc., Vantage Controls Inc., AMX LLC
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Top Trend - Technological Advancements Enhance Light Control Switches Market
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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Light Control Switches Market Characteristics
3. Light Control Switches Market Trends And Strategies
4. Light Control Switches Market - Macro Economic Scenario
5. Light Control Switches Market Size And Growth
…..
27. Light Control Switches Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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