Report : North America 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)
Standalone Solution segment to dominate the North America Light Control Switches Market during 2020–2028
According to a new market research study on “North America 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$ 2,124.05 million by 2028 from US$ 1,410.79 million in 2021. The market is estimated to grow at a CAGR of 6.0% from 2021 to 2028. The report provides trends prevailing in the North America light control switches market along with the drivers and restraints pertaining to the market growth. Growing demand for smart home lighting, surging construction of commercial complexes, and growing number of product launches are the major factor driving the growth of the North America light control switches market. However, restricted adoption of light control switches market hinders the growth of North America light control switches market.
The North America 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 North America 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 North America light control switches market is segmented into the US, Canada, and Mexico. In 2020, the US held the largest market share; and Mexico 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; Helvar; and ACUITY BRANDS, INC are among the leading companies in the North America 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, Acuity Brands, Inc. announced that its wholly-owned subsidiary, Acuity Brands Lighting, Inc., has agreed to buy 100% of the outstanding capital stock of Sensor Switch, Inc., an industry-leading developer and manufacturer of lighting controls and energy management systems, subject to regulatory approval.
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