The global smart lamp switches market is anticipated to grow at a CAGR of 7.0% during the forecast period (2022-2028). These switches are defined as the Wi-Fi enabled buttons on or in the wall that allow the customization to control lighting in the homes. The market growth is majorly attributable to the launch of various 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 all over the globe. Another key factor anticipated to drive the market growth includes the rapid infrastructure building activities where smart lighting paves the way for the modernization of infrastructure. The modernization resulting in the refurbishing of infrastructure in the form of smart cities across the globe, coupled with government policies to support energy-efficient lighting, would drive the demand for smart lamps, thereby driving the growth of the global smart lamp switches market.
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Some key players operating in the market include General Electric Co., Leviton Manufacturing Co., Inc., and Panasonic Corp., among others. The market players are eyeing on strengthening their position in the market by adopting various strategies as mergers and acquisitions, partnerships, new product launches, and collaborations, to stay competitive in the 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.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Application
- By Sales Channel
- By Technology
- Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape: General Electric Co., Leviton Manufacturing Co., Inc., and Panasonic Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Smart Lamp Switches Market Report by Segment
By Application
- Residential Use
- Commercial Use
By Sales Channel
- Online
- Offline
By Technology
- Wi-Fi
- Bluetooth
- Z Wave
- ZigBee
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