Light Control Switches Market for Lighting Worth USD 6.25 Billion by 2022 - Increased Focus on Energy-Efficienct Lighting - Research and Markets
DUBLIN, July 4, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Light Control Switches Market - Global Forecasts to 2022" report to their offering.
The light control switches market for lighting is expected to reach USD 6.25 billion (in terms of value) and 2.85 billion units (in terms of volume) by 2022, at a CAGR of 7.9% and 8.8%, respectively, between 2016 and 2022. The penetration of advanced lighting control in outdoor and commercial lighting owing to the increased focus on energy-efficient lighting is the major driver for growth of the market.
Commercial end users such as offices, retail outlets, hotels, and restaurants are expected to be the major adopters of advanced lighting controls as they have to reduce energy wastage. As commercial end users adopt high-value sensor-based and timer-based switches for lighting control, they are expected to become the leading end users in terms of value during the forecast period.
The market in Asia-Pacific is expected to grow at a high rate in the overall market till 2022. The combination of multiple factors make Asia-Pacific the most dynamic region in the light control switches market. Asia-Pacific has some of the fastest-growing emerging economies, namely, India and China; it also has technologically and economically advanced economies such as Japan and South Korea.
Furthermore, there are many countries within Asia-Pacific which are witnessing rapid urbanization; hence, the overall growth and demand for infrastructure is higher in APAC compared to Europe and North America. Countries in the Asia-Pacific region have started bringing in regulations to increase the usage of lighting controls, which is majorly driving the growth of the market for light control switches.
Companies Mentioned:
- Acuity Brands Lighting, Inc.
- Cooper Industries, Inc.
- Honeywell International Inc.
- Hubbell Lighting, Inc.
- Koninklijke Philips N.V.
- Legrand S.A.
- Leviton Manufacturing Co., Inc.
- Lutron Electronics Co., Inc.
- Osram Gmbh
- Schneider Electric Se
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Light Switches And Dimmers Market, By Product Type
8 Light Switches And Dimmers Market, By End User
9 Light Switches And Dimmers Market, By Light Source
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
For more information visit http://www.researchandmarkets.com/research/3wbl6v/light_control
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