The implementation of the newly revised energy codes and regulations in North America has significantly increased the usage of energy-efficient lighting control switches. The growing energy consciousness of end users is also compelling manufacturers to introduce innovative energy-efficient lighting control switches.
New analysis from Frost & Sullivan North American Lighting Control Switches Market, reveals that the market earned revenues of $896.7 million in 2005 and estimates it to reach $1554.2 million in 2012.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the North American Lighting Control Switches Market, then send an e-mail to Trisha Bradley, Corporate Communications, at trisha.bradley[.]frost.com with your full name, company name, title, telephone number, fax number, and e-mail address. Upon receipt of the above information, an overview will be sent to you by e-mail.
Manufacturers of lighting control switches cash in on these opportunities by introducing sensors, timers and dimmer switches, which help end users reduce their costs. Market participants need to tie these energy benefits in with the cost advantages offered by their most popular, yet energy-intensive product – the on-off switches.
Products that help reduce energy consumption are generally more expensive than traditional ones, and price-conscious residential users opt for the less expensive varieties.
“Manufacturers and other lighting industry associations are trying to change this consumer attitude by educating them about the long-term cost benefits of energy-efficient products,” says Frost & Sullivan Research Analyst, Anwesha Bose. “They have to make consumers aware of the higher returns on investment accrued through nearly 30 percent savings on lighting costs.”
In order to provide better lighting solutions and gain customer appeal, the industry is now moving toward integrated systems as opposed to individual switches. Customers are also becoming more conscious and are demanding intelligent, yet affordable switches and smarter controls.
These requirements are encouraging manufacturers to invest substantially in research and development. They are also required to constantly innovate and add new and more advanced products with enhanced features and additional benefits to remain competitive in the market. They are working on bringing out products that are more flexible and facilitate better integration and compatibility with existing control systems in buildings.
While manufacturing functional yet aesthetic switches to match the interior décor of building spaces, it is becoming increasingly difficult to maintain minimum pricing. Slow transition to newer technologies in certain segments of the market is challenging the growth potential of the industry.
To maintain their sales, small manufacturers continue to produce same yet popular products, which have a fixed market. Leading manufacturers, however, are gradually overcoming this restraint by developing cutting-edge technologies and upgrading products to suit market needs.
“As more participants enter the market and set off price wars, companies are compelled to look at methods to optimize their production cost and make business profitable,” notes Bose.
The North American Lighting Control Switches Market is part of the Building Management Technologies Growth Partnership Services program which also includes research in the following markets: European Fire Detection Equipment Markets and Strategic Assessment of Earthquake Resisting Technologies. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants. Analyst interviews are available to the press.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.
North American Lighting Control Switches Market