Market Leader - Light Control Switches Market
The light control switches market is estimated to grow from USD 6.6 billion in 2020 and projected to reach USD 10.1 billion by 2025, at a CAGR of 8.9%. The major factors driving the growth of the light control switches market include the advent of integrated lighting control systems, ongoing and upcoming smart city projects in developing economies, increasing adoption and reduction in prices of LEDs, and growing awareness about energy savings among consumers and governments worldwide.
The rapid transition from traditional lighting to connected lighting and growing inclination towards energy-efficient lighting solutions are expected to provide major opportunities to the light control switches market players in the coming years.
Light control switches manufacturers have adopted strategies such as product launches and developments, agreements, partnerships, collaborations, contracts, and joint ventures to grow in the light control switches market. For instance, in October 2019, Signify acquired Cooper Lighting Solutions from Eaton. This acquisition would strengthen its position in the North American lighting market.
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Some of the major players in the light control switches market Signify (Philips Lighting) (Netherlands), Legrand S.A. (France), Eaton Corporation (Ireland), General Electric Company (US), and OSRAM Licht (Germany), Acuity Brands, Inc. (US), Leviton Manufacturing Company, Inc. (US), Lutron Electronics (US), Schneider Electric (France), Honeywell International Inc. (US), Ideal Industries (US), Adesto Technologies (Echelon Corporation), Panasonic (Japan), Helvar (Finland), LightwaveRF PLC (UK), RAB Lighting (US), Synapse Wireless (US), and Dialight PLC (UK).
Signify (Philips Lighting N.V.) (Netherlands) was ranked first in the light control switches market in 2019. It is an industry leader in the lighting market. The company’s market experience and brand name allow 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 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
The company aims to further invest in connected lighting systems, which also helped the company to win numerous contracts to supply connected lighting systems and other lighting control equipment. For instance, in November 2018, the company was selected as the connected lighting partner to illuminate up to 15 of London’s iconic bridges by 2022. It also adopts the strategy of an acquisition. For instance, in October 2019, Signify acquired Cooper Lighting Solutions from Eaton. This acquisition would strengthen its position in the North American lighting market. Also, in April 2019, it acquired WiZ Connected—a developer of the WiZ Wi-Fi-based connected lighting ecosystem. This acquisition will allow Signify to extend its leadership position in the Wi-Fi-based lighting control switches market.
Legrand S.A. (France) was ranked second in the light control switches market in 2019. Legrand S.A. is a global specialist in electrical and digital building infrastructures. Legrand S.A. is a global specialist in electrical and digital building infrastructures. The company has a strong product portfolio about the light control switches market. This enables the company to maintain its leading position in this market. Legrand focuses on growth strategies such as acquisitions, partnerships, and product launches. For instance, in May 2019, the company launched wireless DLM systems, which were designed for easy installation, which in turn save cost and time; and thereby, benefit engineers, electrical contractors, and facility managers needing reliable, code-compliant lighting controls.
Moreover, in December 2018, the company acquired Kenall, a leading manufacturer of innovative, energy-efficient, and sustainable specification-grade lighting and control solutions. The company also focuses on geographic expansion to increase its footprint. For instance, in December 2018, the company acquired Trical (New Zealand), which provides switchboards for residential and commercial buildings. This acquisition would strengthen its position in New Zealand.
Related Reports:
Light Control Switches Market by Product Type (Switches, Dimmers), Communication Technology (Wired, Wireless), End-use Application, Switch Solutions (Standalone, Integrated), Light Source, Geography - Global Forecast to 2025
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