April 04, 2022 06:12 ET | Source: ReportLinker ReportLinker

New York, April 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Light Control Switches Market Size, Share & Industry Trends Analysis Report By Solution Type, By Light Source, By Communication Technology, By Product Type, By Application, By Regional Outlook and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06249507/?utm_source=GNW A light control switch can be used to turn lights on and off or modify light output up or down with a dimmer. Light control switches are primarily used to cut energy expenditures and promote sustainability, as well as to suit the lighting requirements of the user. Various sorts of switches are utilized depending on the lights, including proximity switches, push-button light switches, dimmer light switches, and far more. This solution allows the user to control them using smartphone or tablet. With an extensive assortment of commercial lighting and control solutions that are simple to specify, light control switches enable customers to create more efficient areas. Additionally, while compact fluorescent lamps (CFLs) and light-emitting diodes (LEDs) use little electricity, their demand grows, necessitating the use of light control switches. Moreover, advances in the electronic industry resulted in the emergence of Wi-Fi switches and remote switches that can be used to manage lights from a distance. Wi-Fi light switches work with a variety of hubs and can usually be connected to a home automation system. Also, the market for light control switches is influenced by urbanization and industrialization, due to the increasing number of residential and commercial properties. Moreover, the flexibility offered by light control switches, the ease of implementation, the variety of switches designed for multiple purposes, and the enhancement of the customer’s ease are all factors that drive the growth of the light control switches market. COVID-19 Impact Analysis The outbreak of the COVID-19 caused a major decline in the economy of the world as governments were forced to impose lockdowns in their countries in order to regulate the spread of the pandemic. Moreover, Construction sales are closely proportional to light control switch sales. Construction industry has been negatively impacted by the COVID-19 pandemic, which ultimately resulted in a significant drop in light control switch sales in 2020. Because of the COVID-19 pandemic, the production of light control switches was halted for a long period of time. The downfall in the demand for light control switches was also caused by the decrease in demand for electronics. According to the UNIDO, due to the uncertainty and lack of revenue during the lockdown, 30.0–70.0 percent of pre-COVID-19 workers in various industries, viz. electrical and other third-party suppliers, relocated to their hometowns. This lack of worker availability had a direct impact on production and manufacturing activities, resulted in a decrease in demand for raw materials utilized in light control switches. Market Growth Factors: Increasing urbanization across the world In the era of rapid adoption of modernization, people are widely undergoing urbanization. The penetration of the latest advanced and cutting-edge technologies across rural or less developed areas is continuously increasing. Due to the rapid diffusion of urbanization across the world, a significant number of buildings including residential buildings as well as commercial infrastructures that are being constructed over a wide area are recorded. Growing environmental concerns Global warming, the depletion of fossil fuel reserves, and rising energy expenses are all having a significant negative impact on society. Unnecessary and excessive consumption of energy is one of the primary issues. The cost of operations including commercial and residential uses, in the present, is driven by it. There is gap between the consumption and production of energy across the world, wherein, consumption is increasing at a rapid pace, which is a major concern for the authorities. Aware consumers are opting for the products that are energy efficient with minimum or zero effect on environment. Market Restraining Factors: Higher cost of product deployment LED dimmers can help the user to save costs on their electric bill, which is why so many individuals have installed them in their homes across the world. However, there is one major drawback that they are prohibitively expensive. light control switches are more expensive than regular light switches because these switches comprise more components in comparison of regular light switches. Solution Type Outlook Based on the Solution, the Light control switches market is divided into Standalone Light Control Solutions and Integrated Light Control Solutions. In 2020, the Integrated Light Control Solutions segment procured a substantial revenue share of the light control switches market. It is owing to the fact that users can change the lighting situations in a specific space using integrated lighting controls. Several LED lighting manufacturers offer IoT-enabled control solutions that allow customers to manage lighting from their smartphones and other internet-connected devices. Light Source Outlook Based on the Light Source, the Light control switches market is segregated into Incandescent, Fluorescent, High-intensity Discharge, Light Emitting Diode, and Compact Fluorescent Lamp (CFL). In 2020, the Fluorescent segment garnered a promising revenue share of the light control switches market. Fluorescent lights comprise a number of benefits over older lighting technologies such as incandescent. Because fluorescent lighting technology is widely available, they are becoming more accessible for people. Communication Technology Outlook Based on the Communication Technology, the Light control switches market is segmented into Wired Technology and Wireless Technology. In 2020, the wired segment garnered the highest revenue share in the light control switches market. This is owed to the rise in urbanization and infrastructure development. Digital Addressable Lighting Interface (DALI), Power-line Communication (PLC), and numerous wired hybrid protocols, which include various company-specific proprietary protocols, are among the wired communication technologies used in the light control switches industry. Product Type Outlook Based on the Product Type, the Light control switches market is bifurcated into Switches and Dimmer. In 2020, the dimmer segment held a significant revenue share of the light control switches market. One of the most significant advantages of dimmers switches is that they allow the user to control the flow of power throughout their home’s numerous lighting sources. In addition, it enables them to save up to 98 percent of their electricity by dimming a single light bulb. Application Outlook Based on the Application, the Light control switches market is categorized into Residential, Commercial, Industrial, Highways & Roadways Lighting, Architectural Lighting, and Lighting for Public Places. In 2020, the lighting for public places segment acquired the highest revenue share in the light control switches market. The utilization for this segment is continuously increasing due to the higher requirement of enhanced lighting across various public places such as schools, hospitals. In addition, public lighting is a fundamental service delivered by local and municipal governments to their citizens. Regional Outlook Based on the region, the Light control switches market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2020, Asia-Pacific emerged as the leading region in the light control switches market with the maximum revenue share. This is due to population growth and fast urbanization across the emerging nations of the region. In areas with a high population, the requirement as well as consumption of lights in both the residential as well as commercial sector is frequently increasing. The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; General Electric (GE) Co. and Honeywell International, Inc. are the forerunners in the Light Control Switches Market. Companies such as Signify N.V., Acuity Brands Lighting, Inc., Lutron Electronics Co., Inc. are some of the key innovators in the Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ideal Industries, Inc., Signify N.V., Acuity Brands Lighting, Inc., Lutron Electronics Co., Inc., Panasonic Corporation, Eaton Corporation PLC, General Electric (GE) Co., Honeywell International, Inc., Schneider Electric SE, and Legrand S.A. Recent Strategies Deployed in Light Control Switches Market Partnerships, Collaborations, and Agreements: Jan-2022: Acuity Brands teamed up with Microsoft, an American multinational technology corporation. Under this collaboration, Acuity aimed to expand its capabilities in lighting controls, brands smart lighting, and developing automation solutions. In addition, Acuity Brands would integrate Microsoft Azure IoT and AI into its portfolio in order to enable companies to regulate carbon emissions, and save costs on operating expenses. Sep-2020: Lutron Electronics came into a partnership with Ring, a subsidiary of Amazon. This partnership aimed to form a product integration. In addition, the new integration would be supported by Caséta by Lutron and RA2 Select smart lighting control systems and compatible Ring devices. Further, the companies would offer convenience, peace of mind, and a welcoming environment for guests. Acquisitions and Mergers: Nov-2021: Schneider Electric took over DC Systems, a leader in innovations in the field of development of safety applications and controls. The acquisition aimed to bring advanced innovations in the sector of electrical distribution. In addition, this acquisition would strengthen Schneider’s portfolio in order to offer more simplicity and resiliency relevant applications, including constructing microgrids in unstable public grid environments, or long-distance applications such as public lighting. Mar-2020: Signify completed its acquisition of Cooper Lighting Solutions, a subsidiary of Eaton. Following this acquisition, the companies would bring advancements and innovations across connected lighting and systems. In addition, this acquisition would further complement Signify’s portfolio with enhanced operational efficiencies. Feb-2020: Eaton took over Power Distribution, a leader in supplying mission-critical power services and equipment. The company aimed to expand its offerings with the addition of Power Distribution’s portfolio in order to fulfill the demands of its data center customers. Product Launches and Product Expansions: Oct-2021: Panasonic introduced a new range of protection devices for quality-conscious Indian consumers. Through this launch, the company aimed to increase expand its portfolio in metro and tier-2 cities. Moreover, the new range is built with Japanese technology. Aug-2021: Legrand launched smart lighting solutions featuring Netatmo smart home technology, an addition to its existing portfolio. Through the selection of smart switches, dimmers, and outlets, the solutions would be available from both of Legrand’s design-inspired collections, adorne & radiant, and would leverage Netatmo technology to provide the advantages of smart lighting control with extraordinary reliability and flexibility. Jan-2020: GE Lighting, a subsidiary of GE, rolled out a new range of smart switches and dimmers. With this launch, the company would offer two Hubless Dimmer models along with smart switches. Moreover, the company would also avail its mobile app to third parties. Further, the new smart switches control smart bulbs, as well as regular bulbs app, voice, and touch sensing even when the switch is off. Scope of the Study Market Segments covered in the Report: By Solution Type • Standalone Light Control Solutions • Integrated Light Control Solutions By Light Source • Light Emitting Diode • Compact Fluorescent Lamp (CFL) • Fluorescent • Incandescent • High-intensity Discharge By Communication Technology • Wired • Wireless By Product Type • Switches • Dimmer By Application • Lighting for Public Places • Residential • Highways & Roadways Lighting • Commercial • Industrial • Others By Geography • North America o US o Canada o Mexico o Rest of North America • Europe o Germany o UK o France o Russia o Spain o Italy o Rest of Europe • Asia Pacific o China o Japan o India o South Korea o Singapore o Malaysia o Rest of Asia Pacific • LAMEA o Brazil o Argentina o UAE o Saudi Arabia o South Africa o Nigeria o Rest of LAMEA Companies Profiled • Ideal Industries, Inc. • Signify N.V. • Acuity Brands Lighting, Inc. • Lutron Electronics Co., Inc. • Panasonic Corporation • Eaton Corporation PLC • General Electric (GE) Co. • Honeywell International, Inc. • Schneider Electric SE • Legrand S.A. Unique Offerings • Exhaustive coverage • Highest number of market tables and figures • Subscription based model available • Guaranteed best price • Assured post sales research support with 10% customization free Read the full report: https://www.reportlinker.com/p06249507/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________