The Light Control Switches Global Market Report 2023 by The Business Research Company, provides light control switches market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Light Control Switches Global Market Report 2023, the market size grew from $6.43 billion in 2022 to $7.24 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global light control switches is expected to grow to $10.59 billion in 2027 at a CAGR of 10.0%.
Increasing usage of LEDs and other lamps is expected to propel the growth of the light control switches market going forward. The light-emitting diode (LED) is the most energy-efficient and rapidly-developing lighting technology. Quality LED light bulbs to offer better light quality, last longer, and are more durable. The lighting control switches are added to LEDs and other lamps to aid in reducing electricity wastage while simultaneously encouraging energy efficiency.
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The light control switches market is segmented:
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
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. For instance, in May 2021, Orro, a US-based company operating in smart living systems, introduced a new control switch with Alexa capability built into the unit. New Orro Switches are integrated with built-in Alexa’s ESP (Echo Spatial Perception) ensures that the switch closest to the person speaking responds and provides the smart light control, integrated control of other devices, and built-in voice control all from a single device and also provides checking the weather or news, setting timers and reminders.
The light control switches market report table of contents includes:
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