Global Light Control Switches Market Size, Status and Forecast 2020-2025
The Light Control Switches Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The light control switches market is expected to witness a growth at a CAGR of 6.8% over the forecast period (2020-2025).
– 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.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Light Control Switches Market: Signify BV, Legrand SA, Leviton Manufacturing Company Inc., Lutron electronics co., Inc., Eaton Corporation PLC, Osram GmbH, Hubbell Inc., Acuity Brands Inc., Honeywell International Inc., Schneider Electric SE, Havells India Limited and others.
Latest Industry News:
– March 2020 – Signify announced the completion of the acquisition of Cooper Lighting Solutions from Eaton for USD 1.5 billion. With this acquisition, the company has planned to focus on the innovation of connected lightings and systems. This is estimated to drive the revenue growth of the company in the North American market with an aimed increase in professional revenues from 42% to 53%.
– February 2020 – Signify introduced a new integrated Philips Combo Charge Controller for streetlights, enabling the emergence of a hybrid solar system. With this innovation, the company is aiming at creating a new market for solar powered outdoor lightings in Asia, Africa, South America, Australia, and Spain, where the company has already installed solar-powered lights.
Key Market Trends
ZigBee Wireless Communication Switches to Gain Significant Growth
– ZigBee is an asynchronous protocol; that is, a node may choose to transmit at any time. A light switch (for instance a node of 25 devices), can wake up and send a command to turn on the lights any time a user flips the switch. Or a factory automation system might need to send an alarm immediately. That is why routers need to be and must be awake all the time and ready to route a message.
– Currently, the ZigBee Alliance site lists about 400 devices for Home Automation, while a total of 3000 ZigBee certified and compliant products and platforms. The Home Automation ZigBee Devices are all the common IoT Home devices such as light bulbs, switches, locks, motion sensors, and thermostats.
– The increasig smart city projects across the world is expected to create demand for ZigBee based lighting solutions for residential smart lightings. In India, an urban modernization initiative called the Smart Cities Mission was launched in 2015, with the ambitious goal of creating 100 smart cities over a five-year period. The funding was also ambitious, with the national government allocating 480 billion rupees (USD 7.5 billion) to the initiative and requiring matching funding from participating cities. Such trends are further expected to drive the studied market significantly.
North America to Witness Significant Growth
– Light control switch vendors have a strong foothold in the North America region, which contributes to the growth of the market. Some of them include Signify, Legrand, Eaton, Consumer Technology Association, and Luton, among others. in July 2019, EuControls Corporation announced the issuance of US Patent for its Zigbee Lighting Controller with Sensors. The company has developed Zigbee wireless operated dimming controller intended to be installed on existing dimmable LED luminaires. It works by phase-cutting input power of the illumines, and the sensing capability enables the controller a degree of autonomous operation outside gateway control.
– According to a recent study by the Stanford University and Avast, North American homes have the highest density of IoT devices of any region in the world. Notably, 66% of homes in the region have at least one IoT device controlling lights. Additionally, 25% of North American homes boast more than two devices. Due to robust cloud infrastructure, increasing number of connected devices, and advancements in artificial intelligence and machine learning technologies in the region,
– Companies are partnering to ensure interoperability, hence gaining competitive advantage other big players. For instance, in May 2019, Silicon Labs and Signify, collaborated on an extension of the Friends of Hue program enabling ecosystem partners to develop smart light switches for Philips Hue systems.
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Influence of the Light Control Switches Market Report:
-Comprehensive assessment of all opportunities and risks in the Light Control Switches market.
-The detailed study of business strategies for the growth of the Light Control Switches market-leading players.
-Conclusive study about the growth plot of the Light Control Switches market for forthcoming years.
-In-depth understanding of Light Control Switches market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Light Control Switches market.
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
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-Analytical Tools: The Global Light Control Switches Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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