About Smart Lamp Switches
Smart light switches majorly used in lighting systems, which is majorly used in electricity consumption and also enhances security. These switches provide convenience because of the enhancement of new technologies such as IoT, home automation and others. The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new solution launches and collaborations as their strategies. Leading players are exploring new regions through expansions and acquisitions across the globe to avail of competitive advantage through combined synergies.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global smart lamp switches market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability. Analyst at AMA Research estimates that Asia Pacific Players will contribute the maximum growth to Global Smart Lamp Switches market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
GE (United States), Hubbell (United States), Leviton (United States), Simon (Spain), Panasonic (Japan), TCL (China), BAOBOO (China), Siemens (Germany), ABB (Switzerland) and Lutron (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Lightolier (United States), Belkin (United States), Legrand (France), Pass & Seymour (United States), Heiman Co., Limited (China) and Seoby Electronics Co., Ltd. (Korea).
Segmentation Overview
AMA Research has segmented the market of Global Smart Lamp Switches market by , Application (Residential Use, Commercial Use and Industrial Use) and Region.
On the basis of geography, the market of Smart Lamp Switches has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channels, the sub-segment i.e. Online Sales Channels will boost the Smart Lamp Switches market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Wi-Fi will boost the Smart Lamp Switches market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Advancement in Wireless Technology
Market Growth Drivers:
Development in IoT and High Growth of Intelligent Solutions
Challenges:
Less Awareness among Consumer
Restraints:
High Installation Cost and Complex Manufacturing Process
Opportunities:
High Growth in Smart Buildings in Emerging Economies Including Asia Pacific Regions and Advancement in Wireless Communication Technologies
Market Leaders and their expansionary development strategies
In August 2021, French digital building creator Legrand has expanded its collections of designer switches and outlets to include smart lighting that can connect with Amazon Alexa, Google Assistant and Apple HomeKit. The specialist in electrical and networking has added its Netatmo smart home technology to switches, dimmers and outlets in its Adorne and Radiant design-inspired collections. Netatmo technology is said to deliver the benefits of smart lighting control with reliability and flexibility.
In September 2022, Panasonic Life Solutions India launched Penta Modular Flat switches for the Kerala market. The range includes 1Way switches, 2Way Switches, Bell Push & 32A D.P. switches in 6A & 16A ratings as a part of the product line. The Penta Modular -Flat range of switches will appeal to customers who are looking for trendy yet affordable home solutions to transform their interiors.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Smart Lamp Switches Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.