Artificial Intelligence
Worldwide Light Control Switches Industry to 2025 – North America is Set to Witness Significant Growth
Dublin, Aug. 18, 2020 (GLOBE NEWSWIRE) — The “Light Control Switches Market – Growth, Trends, and Forecasts (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The light control switches market is expected to witness a growth at a CAGR of 6.8% over the forecast period (2020-2025). Light switches which were once a simple decision has now made its place into the home improvement category as well as industrial and outdoor applications. With different applications, switch style, wiring needs, and programmable capabilities, choosing the right light switches and dimmers can be tricky to navigate.
To help connect IoT devices such as smart lighting solutions, lighting controls, where mesh communications protocols are rapidly emerging as a preferred solution, especially for low-power applications. For the same, wireless communication enables technology such as ZigBee to have emerged with more popularity in recent years.
Additionally, increasing smart city projects worldwide is one of the major factors creating huge opportunities for the light control switches market. National governments aiding the expansion of smart city projects is also a key trend in the market. With the help of the Smart Cities and Communities European Innovation Partnership (EIP SCC), supported by the European Commission, 78 cities in the region have undertaken smart city development. EIP-SCC aims to have 300 smart cities by the end of 2020.
However, the market has been affected by the recent outbreak of COVID 19, and companies have been forced to restructure their strategies to deal with the ongoing pandemic. Companies like Telensa and signify were the worst hit due to this pandemic. Signify in February 2020 had planned to upgrade their solar connected street light to toggle between solar and grid power by using Philips Combo Charge Controller. But the company has gone into financial crunch due to the COVID outbreak, the company in March 2020 had announced a 20 percent pay cut of all their employees. Key Market Trends
ZigBee Wireless Communication Switches to Gain Significant Growth
North America to Witness Significant Growth
Competitive Landscape
The light controller switches market is more inclined towards fragmentation with the presence of many established players competing with the less product differenciation. This created a market competitiveness with higher bargaining power with the buyers. Hence, the companies have been trying to make strategic acquistions and product innovation in order to gain more market share. Some of the recent developement by these companies are mentioned below.
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Key Topics Covered:
1 INTRODUCTION 2 RESEARCH METHODOLOGY 3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS 5 EMERGING TECHNOLOGY TRENDS
6 MARKET SEGMENTATION 7 COMPETITIVE LANDSCAPE 8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Intiatives to switch to LED lighting Solutions
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Porters FIve Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Assessment on the Impact of COVID-19 on the market
6.1 By Communication Technology
6.1.1 Wired
6.1.2 Wireless
6.2 By Application
6.2.1 Indoor
6.2.2 Outdoor
6.3 By Light Source
6.3.1 Incandescent
6.3.2 Fluorescent (FL)
6.3.3 Light-Emitting diode (LED)
6.3.4 Other Light Sources
6.4 Geography
6.4.1 North America
6.4.2 Europe
6.4.3 Asia-Pacific
6.4.4 Latin America
6.4.5 Middle East & Africa
7.1 Company Profiles*
7.1.1 Signify BV
7.1.2 Legrand SA
7.1.3 Leviton Manufacturing Company Inc.
7.1.4 Lutron electronics co., Inc.
7.1.5 Eaton Corporation PLC
7.1.6 Osram GmbH
7.1.7 Hubbell Inc.
7.1.8 Acuity Brands Inc.
7.1.9 Honeywell International Inc.
7.1.10 Schneider Electric SE
7.1.11 Havells India LimitedCONTACT: ResearchAndMarkets.com
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