Wired segment to dominate the South America Light Control Switches Market during 2020–2028
According to The Insight Partners market research study on “South 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$ 398.55 million by 2028 from US$ 292.17 million in 2021. The market is estimated to grow at a CAGR of 4.5% from 2021 to 2028. The report provides trends prevailing in the South America light control switches market along with the drivers and restraints pertaining to the market growth. Heighten integration of light control switches in commercial complexes, burgeoning demand for smart home lighting, and thriving number of product launches are the major factor driving the growth of the South America light control switches market. However, limited adoption of light control switches market hinders the growth of South America light control switches market.
The South 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 South 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 South America light control switches market is segmented into Brazil, Argentina and Rest of SAM. In 2020, Brazil held the largest market share; and the same country in the market 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 South 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, Lutron Electronics has announced the acquisition of Limelight, an innovative wireless outdoor lighting control solution. Limelight is by TwistHDM. Hence the acquisition of Limelight is beneficial for Lutron to improve relations with TwistHDM.
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