Report : Europe Light Control Switches Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Switch Solution (Standalone Switch Solution and Integrated Switch Solution), Connection Type (Wired and Wireless), and End User (Commercial, Residential, Industrial, and Public Utilities)
Wired segment to dominate the Europe Light Control Switches Market during 2020–2028
According to a new market research study on “Europe Light Control Switches Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Switch Solution, Connection Type, and End User” is expected to reach US$ 1,353.40 million by 2028 from US$ 942.13 million in 2021. The market is estimated to grow at a CAGR of 5.3% from 2021 to 2028. The report provides trends prevailing in the Europe light control switches market along with the drivers and restraints pertaining to the market growth. Broad-scale integration of light control switches in commercial complexes, burgeoning number of product launches, and strengthening demand for smart home lighting are the major factor driving the growth of the Europe light control switches market. However, lower adoption of light control switches market hinders the growth of Europe light control switches market.
The Europe light control switches market is segmented on the basis of switch solution, connection type, end user, and country. Based on switch solution, the market is segmented into standalone solution and integrated solution. In 2020, the standalone solution segment held a larger share of the market, and integrated solution is expected to register a higher CAGR during the forecast period. Based on connection type, the Europe light control switches market is segmented into wired and wireless. In 2020, the wired stores treatment segment held the largest market share; and the wireless segment is expected to register the highest CAGR in the market during the forecast period. Based on end user, the market is segmented into commercial, residential, industrial, and public utility. In 2020, the residential segment held a larger share of the market, and commercial segment is expected to register a higher CAGR during the forecast period. Further, based on country, the Europe light control switches market is segmented into Germany, France, the UK, Italy, Russia, and Rest of Europe. In 2020, Germany held the largest market share; and the UK is expected to grow at the fastest CAGR during the forecast period.
Eaton; Honeywell International Inc.; LEGRAND SA; Leviton Manufacturing Co., Inc.; Lutron Electronics Co., Inc.; OSRAM GmbH; Panasonic Corporation; Schneider Electric SE; and Helvar INC are among the leading companies in the Europe light control switches market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Legrand has introduced a new radiant® Wave Switch, which expands on the unique touchless technology pioneered by the adorne® Collection to fit into even more applications and projects.
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