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Light Control Switches Global market Report 2024 – Market Size, Trends, And Forecast 2024-2033
Light Control Switches Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UK, September 13, 2024 /EINPresswire / -- The light control switches market has experienced robust growth in recent years, expanding from $7.12 billion in 2023 to $7.82 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to energy efficiency regulations, demand for traditional lighting systems, urbanization and infrastructure growth, environmental awareness, commercial and industrial use, government incentives.
Strong Future Growth Anticipated
The light control switches market is projected to continue its strong growth, reaching $11.21 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to led lighting adoption, electrification of transport, cybersecurity in lighting, urban farming and vertical agriculture, smart home integration.
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Growth Driver Of The Light Control Switches Market
Rising smart cities are expected to propel the growth of the light control switches market going forward. Smart cities refer to urban areas that use technology and data to improve infrastructure, services, and quality of life for their residents. Light control switches are used in smart cities by enhancing energy efficiency, reducing light pollution, improving safety, and enabling remote monitoring and management of lighting systems. For instance, in 2023, according to the IMD Smart City Index Report, a Switzerland-based business school, the city coverage of the SCI index and report increased by almost 20%, bringing the total number of smart cities to 141. Therefore, the Rising smart cities are driving the growth of the light control switches market.
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Major Players And Market Trends
Key players in the light control switches market include Acuity Brands Inc., Honeywell International Inc., General Electric Company, Leviton Manufacturing Company Inc., Lutron Electronics Co. Inc.
Technological advancements have emerged as a key trend gaining popularity in the light control switches market. Major players in the market are adopting advanced technologies to launch efficient products in the market.
Segments:
1) By Product Type: Switches, Dimmer
2) By Switch Solution: Standalone Switch Solution, Integrated Switch Solution
3) By Light Source: Incandescent, Fluorescent, High-Intensity Discharge, Light Emitting Diode, Compact Fluorescent Lamp (CFL)
4) By Application: Residential, Commercial, Industrial, Highways And Roadways Lighting, Architectural Lighting, Lighting For Public Places, Other Applications
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the light control switches market in 2023. The regions covered in the light control switches market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Light Control Switches Market Definition
The light control switches are used to turn the lights ON and OFF. The primary use of light control switches is to reduce energy costs, improve sustainability and provide flexibility to meet user visual needs. Users can control and manage their light control switches and devices using hardware and software technologies.
Light Control Switches Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Light Control Switches Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on light control switches market size, light control switches market drivers and trends, light control switches market major players, light control switches competitors' revenues, light control switches market positioning, and light control switches market growth across geographies. The light control switches market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.