According to the new research report titled "Light Control Switches Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 12,696.1 million by 2028, registering a CAGR of 6.8% from 2021 to 2028.
The real estate industries in both developed and developing countries have undergone significant growth in recent years. This growth has been propelled by increased investments from both private and public entities to develop advanced infrastructures, such as hospitals, shopping complexes, and other commercial buildings. Consequently, the light control switches market is benefitting from this trend. Below are a few examples of some of the significant ongoing or future commercial construction projects across the globe.
The proposed reconstruction of Hamamatsucho Shibaura in Tokyo, Japan, will include the development of a 550,000 m2 mixed-use complex across 4 hectares of land, with two 232.55-meter-tall structures. Construction started in Q3 of 2021 and is expected to conclude by Q4 of 2030.
The development of Elizabeth Quay Lot V and Lot VI Mixed-Use Complex in Perth, Australia, involves the construction of two mixed-use skyscrapers, a 58-story mixed-use tower, and a 21-story commercial tower on a 7,000 m2 site. Construction began in Q3 of 2021, and the project is expected to be completed by Q4 of 2025.
Lighting plays a crucial role across commercial complexes, thereby bolstering the demand for cost and energy-efficient lighting systems. This is directly driving the demand for light control switches, thus boosting the growth of the light control switches market size.
The light control switches market faced hindrances in its growth during 2020 due to the outbreak of the COVID-19 pandemic. The restrictions imposed by governments on social gatherings, as well as the temporary halt in construction activities across developed and developing nations, caused a decline in demand for light control switches in various sectors such as residential, commercial, industrial, and public utilities. Furthermore, disruptions in supply chains also had an adverse impact on the manufacturing of light control switches, resulting in low production volumes. This, in turn, had a negative effect on the growth of the light control switches market.
The COVID-19 pandemic and the resultant lockdown measures had a significant impact on the demand for light control switches and the generation mix. Despite an increase in electronic consumption, the decline in industrial, commercial, and tertiary operations led to reduced demand for switches. European countries had varying COVID-19 protocols, with some, like Italy, Germany, and France, implementing strict containment measures, while others, like Sweden and Switzerland, took a more lenient approach. The closure of factories and changes in social habits in 2020 resulted in a significant decline in the growth of the light control switches market as compared to 2019.
The COVID-19 pandemic has adversely affected numerous industries, including manufacturing and construction. In Europe, manufacturing companies experienced losses in 2020 due to decreased sales of products and services to consumers. Additionally, the growth of the light control switches market in Europe was hindered by the outbreak. Lockdowns implemented to control the spread of the virus resulted in the closure of several businesses and industrial operations, leading to a decline in demand for standalone switch solutions and integrated switch solutions in various end-users, including commercial, residential, public utilities, and industrial sectors.
The European light control switches market size has been supported since mid-2021, with the reopening of most businesses and industrial operations. There has been a significant investment in installing control switches in residential, commercial buildings, and industries, with an increasing awareness of the importance of smart switches due to the pandemic. As a result, the light control switches market is expected to grow in the future, with the resumption of construction work.
The light control switches market is segmented on the basis of switch solution, connection type, and end user. Based on switch solution, the light control switches market is bifurcated into standalone switch solution and integrated switch solution. Based on connection type, the light control switches market is bifurcated into wired and wireless. Based on end user, the light control switches market is segmented into commercial, residential, industrial, and public utilities. Geographically, the light control switches market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.
Key Findings of Study:
Light control switches are increasingly being utilized in the commercial sector to provide tailored lighting and touchless controls while also promoting rigorous hygiene practices. Developments in light control switches designed specifically for commercial applications, along with the growing demand for efficient switches from industries like healthcare, are driving the expansion of the light control switches market. Hospitals use light control switches to regulate lighting systems in patient rooms, with dimmer switches featuring LED lamps or pulse-width modulation (PWM) controllers with LED lamps being widely implemented to adjust lighting intensity in hospital wards and operating rooms. In this circuit, standard ON/OFF switches are employed to control lighting in three different modes: maximum, medium, and minimum brightness.
Manufacturers of light control switches in the global market invest more in developing light control switches tailored explicitly for commercial use—for example, Legrand North America, LLC. The radiant 20A Wave Switch is integrated with touch-free technology designed for commercial applications. This technology helps to maintain the hygienic operation of switches in crowded commercial complexes, ensuring protection from germs and diseases. Consequently, the increase in the integration of light control switches by both the demand and supply sides is expected to boost the growth of the global light control switches market during the forecast period.
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