Light Switches and Electrical Sockets Market Outlook 2031
The global light switches and electrical sockets market size was valued at USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of XX% during 2023 – 2031. Growth of the market is attributed to increasing construction activities and rising industrialization.
Rising industrialization is expected to boost the demand for light switches and electrical sockets. Light switches are placed in industries to control electric lights and other electrical devices and appliances by connecting or breaking the flow of electricity in an electric circuit. Therefore, increasing industrialization worldwide is propelling the market.
The adoption of light switches and electrical sockets is quickly rising in construction and industrial applications as they are used to operate electrical outlets, electric lights, or permanently connected equipment. These switches and sockets also enhance the performance of equipment, while offering greater or improved safety.
Increasing construction activities around the world are projected to drive the market. Light switches are used in construction activities to control the flow of electricity and light a group of light fixtures, while electric sockets are used at construction sites where the wire connections are exposed to extreme or bad weather. Thus, rising construction activities are expected to boost the market.
The COVID-19 pandemic impeded the demand for light switches and electrical sockets. Manufacturing facilities of light switches and electrical sockets faced struggles in manufacturing products, due to the lack of raw materials and the closure of international trade, which hampered the market. Moreover, a sharp decline in construction activities was registered during the pandemic, which impeded the demand for light switches and electrical sockets, as these sockets and switches are used at construction sites to control the flow of electricity. For instance,
Impact of Artificial Intelligence (AI) on Light Switches and Electrical Sockets
Technological advancements in electronic systems and the introduction of artificial intelligence are expected to create opportunities in the market. Incorporation of AI and other technologies in light switches aids in the creation of intelligent energy management systems. AI-powered light switches reduce energy waste by automatically turning off appliances and lights when rooms are unoccupied.
Artificial intelligence in light switches learn from user preferences and behavior to customize lighting settings, providing personalized experiences. AI-enabled switches automatically adjust energy usage based on pre-set preferences by analyzing real-time data on demand patterns, grid conditions, and electricity pricing.
Light Switches and Electrical Sockets Market Dynamics
Major Drivers
Growing trend of home décor or interior design is expected to boost the demand for light switches and electrical sockets. Interior designers deploy light switches in homes to add a touch of elegance and provide a convenient and functional way to control lighting while electric switches improve a home's aesthetics by eliminating the crowded look of extension cords, which increases its adoption in home décor. Thus, the rising trend of interior design and home décor is propelling the market.
Increasing demand for smart homes is projected to drive the market. Smart electric sockets, a type of electric sockets, are used in smart homes to control home appliances wirelessly and remotely. These sockets consume less power, which increases their demand in smart homes. Therefore, the rising demand for smart homes is expected to enhance the market.
Existing Restraints
Limited functionality associated with traditional light switches is expected to restrict the market as they perform basic switching operations and cannot meet other lighting needs, such as dimming. Moreover, the limitation involved with multi-plug sockets is projected to hamper the market. Multi-plug sockets pose a fire hazard if they are overloaded, damaged, or misused, which encourages consumers to reduce their adoption.
Emerging Opportunities
Growing urbanization worldwide creates an immense opportunity in the market. Urbanization leads to a rise in construction activities, which is expected to enhance the demand for light switches and electric sockets, as these switches and sockets are used at construction sites to control the flow of electricity. Moreover, increasing investment in R&D activities by major market players to develop and introduce touchless light switches creates a lucrative opportunity in the market. For instance,
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On August 23, 2022, Legrand a global leader in electrical and digital building infrastructures, announced the launch of a Wave Switch from the Radiant collection. Wave switch is based on touchless technology and provides an easy, sleek option for control in both commercial and residential applications. It is available in 15-Amp and 20-Amp options.
Scope of The Light Switches and Electrical Sockets Market Report
The report on the market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Light Switches and Electrical Sockets Market- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Light Switches (Single Pole Switches, Double Pole Switches, Two-way or Intermediate Switches, Bell Push Switches, and Others), Electrical Sockets (Two-pin Sockets, Three-pin Sockets, Five-pin Sockets, Universal or International Sockets, and Others), and Application (Residential, Commercial, and Industrial)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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ABB; Honeywell International Inc.; Hubbell; KasaSmart; Legrand; Leviton Manufacturing Co., Inc.; Lutron Electronics Co., Inc.; Panasonic Life Solutions; Schneider Electric; Simon; Soben Lighting Co., Ltd; T&J Electric; and Vimar SpA
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Light Switches and Electrical Sockets Market Segment Insights
Light Switches Segment Analysis
Based on light switches, the light switches and electrical sockets market is categorized into single pole switches, double pole switches, two-way or intermediate switches, bell push switches, and others. The single pole switches segment held a large share of the market in 2022, due to the increasing consumer demand and technical developments.
Single pole switches are simple to use and work perfectly for standard lights, which increases their demand among consumers. It is more cost-effective than any other light switch, which enhances its demand in residential and commercial applications. The double pole switches segment is expected to grow at a robust pace during the assessment period, owing to its ability to divert two current lines to another pair of lines.
Double pole switches are used for household appliances, such as cookers, washing machines, ovens, and refrigerators that have a particularly heavy electrical load. These switches have large terminals to adjust thick wires, which enhances their adoption for heavy electrical loads.
Electric Sockets Segment Analysis
In terms of electric sockets, the global market is divided into two-pin sockets, three-pin sockets, five-pin sockets, universal or international sockets, and others. The three-pin sockets segment accounted for a major of the market in 2022, due to its potential to provide power to refrigerators, microwave ovens, and other metal body appliances.
Three-pin sockets limit the amount of power that passes through the circuit and are safer than two-pin sockets, which encourages consumers to adopt three-pin sockets. The universal or international sockets segment is anticipated to grow at a considerable pace in the coming years, owing to rapid urbanization and their ability to accommodate plugs of various types.
These universal socket outlets are widely installed in hotels and other places where international tourists or visitors are prevalent, as they are intended to accommodate a variety of plug types.
Application Segment Analysis
Based on application, the light switches and electrical sockets market is segregated into residential, commercial, and industrial. The residential segment dominated the market in 2022 and is projected to continue its dominance throughout the forecast period, due to the rising trend of home décor, evolving consumer preferences, and increasing urbanization.
Light switches and electric sockets are installed at residencies to control electric lights and other electrical devices & appliances that are either hardwired or plugged into an electrical outlet. Moreover, these switches and sockets are utilized to decorate homes, as they eliminate the crowded look of extension cords, which increases their demand for residential applications.
Regional Outlook
In terms of region, the light switches and electrical sockets market is categorized into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific accounted for a major share of the market in 2022, due to rising urbanization and increasing demand for electrical infrastructure in residential and commercial spaces.
Moreover, rising industrialization and growing population in the region are propelling the market in this region, as these switches and sockets are used in industries to power heavy equipment or machinery.
Additionally, the development of smart cities in the region is expected to boost the demand for light switches and electrical sockets, as these sockets and switches are deployed in smart cities to enhance energy usage standards and remotely manage, monitor, and control lighting on roads, streets, parks, and plazas. For instance,
The market in North America is projected to expand at a high CAGR during the forecast period, owing to rising technological advancements, stringent norms for stringent conservation, and the presence of established companies, such as Honeywell International Inc., Leviton Manufacturing Co., Inc., and Hubbell. Moreover, increasing urbanization and construction activities in the region are propelling the market, as these sockets and switches are used to power electronic devices or appliances in homes, offices, and industries. For instance,
Segments
The light switches and electrical sockets market has been segmented on the basis of
Light Switches
- Single Pole Switches
- Double Pole Switches
- Two-way or Intermediate Switches
- Bell Push Switches
- Others
Electric Switches
- Two-pin Sockets
- Three-pin Sockets
- Five-pin Sockets
- Universal or International Sockets
- Others
Application
- Residential
- Commercial
- Industrial
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global market are ABB; Honeywell International Inc.; Hubbell; KasaSmart; Legrand; Leviton Manufacturing Co., Inc.; Lutron Electronics Co., Inc.; Panasonic Life Solutions; Schneider Electric; Simon; Soben Lighting Co., Ltd; T&J Electric; and Vimar SpA.
These companies adopted several development strategies, including collaborations, product launches, mergers, acquisitions, partnerships, and production expansion to expand their consumer base worldwide. For instance,
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On August 18, 2023, Legrand a global leader in electrical and digital building infrastructures, announced the launch of Allzy, the ultimate all-rounder switch. Allzy is designed to simplify the lives of multitaskers by providing a simplified switch range to boost the user experience.
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On August 3, 2023, KasaSmart a smart plug provider announced the launch of Kasa KS205 Smart Wi-Fi Light Switch and Kasa KS225 Smart Wi-Fi Light Dimmer Switch to offer a range of noteworthy features, including advanced scheduling and timers. These light switches are controlled anywhere through the Kasa App as long as the devices are connected to a 2.4GHz Wi-Fi connection.
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