light control switches Market

The light control switches market is projected to reach US$ 12,696.07 million by 2028 from US$ 7,997.68 million in 2021; it is expected to grow at a CAGR of 6.8% from 2021 to 2028.

Light control switches are devices used to adjust the quality, level, or pattern of light according to the user's needs. The increasing adoption of advanced light control systems in commercial and outdoor lighting, driven by the emphasis on energy efficiency, is a major factor propelling the growth of the light control switches market. The market is classified based on switch solutions, connection type, end user, and geography. Switch solutions are categorized into standalone and integrated solutions, while connection type is divided into wired and wireless. End users include commercial, residential, industrial, and public utilities. Geographically, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

Lighting plays a vital role in our daily lives, making homes more secure, comfortable, and inviting for residents and visitors alike. It also has a significant impact on people's well-being, and smart lighting systems offer elegance, ambiance, convenience, and energy efficiency to residential buildings. However, according to a 2019 survey by the National Association of Home Builders in the US, only about 15% of homeowners have a smart lighting management system, and around 40% would like to have such systems installed in their homes. The rising demand for smart lighting solutions from homeowners worldwide is driving the light control switches market growth, fueled by the growing popularity of home automation, connected homes, and mood lighting. Residential complexes' demand for smart lighting solutions is a key driver of the market's expansion.

North America is a developed economy with high per capita income and disposable incomes, leading to strong buying power among consumers. Consequently, the demand for light control switches is high in the region. Additionally, the high adoption rate of consumer electronics is another factor driving the adoption of automated solutions across industries. The increasing population and changing family structures in North America have created a demand for electronic appliances. The presence of major players in the light control switches market such as Acuity Brands, Inc., Honeywell International Inc., and Leviton Manufacturing in the US supports market growth. Furthermore, technological advancements and supportive government initiatives are expected to further amplify the growth of the light control switches market in North America during the forecast period.

Impact of COVID-19 Pandemic on Light Control Switches Market
The COVID-19 pandemic has led to disruptions in the supply chain of several industries, with restrictions in logistics and the closure of manufacturing facilities. In this region, the manufacturing and construction businesses have been negatively affected by the outbreak in four key areas, namely supply chain/operations, workforce, investments in 2020, and product offerings. Although most construction activities have been allowed to continue in the US and Canada, several projects in the bidding or final planning stages have been postponed or cancelled due to the pandemic. As a consequence, companies operating in the light control switches market have had to halt the production of some products for a period of time.

Despite the setback caused by the pandemic, the light control switches market is expected to grow in 2021 as the lockdown restrictions are lifted, and the vaccination drive is underway. Manufacturing plants have resumed operations, leading to a positive outlook for the market. The construction industry in the region is also gaining momentum due to ongoing infrastructure investments and smart city projects. Engineering and construction firms are playing a key role in upgrading infrastructure by incorporating sensing technology and data analytics, which is likely to contribute to the high demand for light control switches.

The light control switches market is studied by dividing it into geographical regions, namely North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, APAC held the largest share of the global light control switches market and is expected to exhibit the highest CAGR during the forecast period. The increase in infrastructural investments in various segments such as residential, commercial, and industrial in the region has propelled the demand for light control switches. Since lighting is an essential aspect of any infrastructure development, the growth in construction projects has indirectly influenced the demand for lighting solutions and control switches. Additionally, the adoption of IoT technology in lighting systems has been on the rise in the region, thereby contributing to the growth of smart switches. All these factors are expected to boost the light control switches market growth in the APAC region.

Panasonic Corporation; Eaton; Savant Systems Inc.; Acuity Brands Inc.; and Leviton Manufacturing Co., Inc. are a few players operating in the global light control switches market and profiled in the market study.

The light control switches market size has been determined by utilizing both primary and secondary sources. To initiate the research process, extensive secondary research has been conducted using internal and external sources to gather qualitative and quantitative information regarding the light control switches market size. This process has also helped in obtaining an overview and forecast of the light control switches market size for all market segments. Additionally, multiple primary interviews have been conducted with industry experts and commentators to validate the data and gain more analytical insights into the subject. The participants in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants such as valuation experts, research analysts, and key opinion leaders who specialize in the light control switches market.