The Global Light Control Switches Market is projected to grow from USD 6.6 billion in 2020 to USD 10.5 billion by 2026, recording a CAGR of 9 per cent during this period. Some of the key factors driving the growth of the Global Light Control Switches Market comprise the emergence of integrated lighting control systems, continuing and upcoming smart city projects in developing countries, increasing adoption and reduction in prices of LEDs, and growing awareness about energy savings among consumers and governments globally.
The market for ZigBee protocol within the Global Light Control Switches Market is estimated to hold the largest share of market for wireless communication technology during the forecast period. This technology is designed to be a power saving, low data rate, proximity wireless mesh network protocol, which is simpler and less expensive as compared to other wireless network protocols. The growing adoption of smart homes is going to create demand for the ZigBee protocol.
The market for outdoor end-use applications is likely to record a higher CAGR during the forecast period. This growth is largely owing to the increasing focus on enhancing connectivity through construction of roads and instalment of smart lights for these roads, particularly in the developing countries in the Asia-Pacific region. This would thereby spur the growth of the outdoor market.
Region-wise, the Asia-Pacific region is going to exhibit the highest growth in Global Light Control Switches Market during 2020 and 2026. The Global Light Control Switches Market in this region is expected to witness the highest CAGR during the forecast period due to rapid infrastructure building activities undertaken mainly in China and India, where smart lighting has paved the way for the modernization of infrastructure. The modernization and development of infrastructure through smart cities across this region, along with government policies to support energy-efficient lighting, would propel the demand for smart street lights, thereby driving the Global Light Control Switches Market in this region.
The list of major players in the Global Light Control Switches Market include Legrand S.A. (France), Eaton Corporation (Ireland), Signify (Philips Lighting) (Netherlands), OSRAM Licht (Germany), General Electric Company (US), Acuity Brands, Inc. (US), Leviton Manufacturing Company, Inc. (US), Honeywell International Inc. (US), Ideal Industries (US), Lutron Electronics (US), Schneider Electric (France), Helvar (Finland), LightwaveRF PLC (UK), Adesto Technologies (Echelon Corporation), Panasonic (Japan), RAB Lighting (US), Synapse Wireless (US), and Dialight PLC (UK).
Signify Holding, based in Netherlands, is an industry leader in the Global Light Control Switches Market space. The market experience and brand name has allowed it to capitalize on the fundamental market dynamics in the lighting industry and deliver innovative solutions that create value and ensure its growth. The company has a huge advantage over its competitors in Global Light Control Switches Market, due to is its extensive product portfolio, with lighting systems compatible with various connecting technologies ranging from DALI, KNX, and BACnet to ZigBee and EnOcean.
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