Global Wireless Power Switch Market: Introduction
- A wireless power switch used for household applications is a home device employed to control the switching of household appliances remotely
- These switches make the switching of household appliances easy for physically challenged individuals, elderly people, and anyone who, in any circumstances, needs security and comfort
- The global wireless power switch market is anticipated to expand at a rapid pace during the forecast period, owing to increased demand for wireless power switches for use in the automation of commercial and industrial buildings
Key Drivers of Global Wireless Power Switch Market
- Wireless power switches are used to turn electric appliances on/off from anywhere, even when Wi-Fi has no Internet access
- The global wireless power switch market is expected to be driven by increasing demand for the rapidly changing technology in consumer electronics. Furthermore, expanding base of smart home users is expected to be a major driving factor for the global wireless power switch market during the forecast period.
- Companies operating in the global wireless power switch market are investing to expand their product portfolios as well as their distribution networks. They have adopted strategies such as mergers and acquisitions, development of new products, joint ventures, and expansions to cater to the increasing demand for wireless power switches across different regions.
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Middle East & Africa to Offer Attractive Opportunities to Wireless Power Switch Market
- The wireless power switch market in Middle East & Africa is estimated to expand at the most rapid pace during the forecast period. This can be attributed to increasing investments in building and infrastructure sectors in the region.
- Middle East & Africa consists of countries such as Saudi Arabia, the UAE, and Qatar, wherein people have high purchasing power. Rapid expansion of cities and development of infrastructure in these countries are expected to drive the wireless power switch market in the region during the forecast period.
Investments in Building Automation to Drive Market
- Different applications of building automation and control systems include lighting, safety and security, entertainment (audio and video), and HVAC (heating, ventilation, and air-conditioning)
- In addition to these core applications, several new applications are being developed and offered by players from different sectors. These include home healthcare, remote monitoring (as a specialized part of safety and security), home robotics, and pet care.
- The above-mentioned applications need smart control. This factor is expected to fuel the demand for wireless power switches during the forecast period.
Asia Pacific to Hold a Major Share of Global Wireless Power Switch Market
- Asia Pacific is a leading consumer of wireless power switches, followed by North America and Europe. China, India, and Japan are key markets in the region. In terms of demand, the three countries account for a major share of the wireless power switch market in the region.
- Increase in the demand for wireless power switches in Asia Pacific can be attributed to continued urbanization and development of infrastructure in the region. Moreover, the region is witnessing increasing preference for smart and sustainable homes. This is expected to promote growth of the global wireless power switch market during the forecast period.
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Key Players Operating in Global Market
The global wireless power switch market is highly concentrated, with the top manufacturers accounting for approximately 25%–35% of the market share. A few of the key players operating in the global wireless power switch market are:
- Teleco Automation S.r.l.
- Amphenol Corporation
- Astrel Group s.r.l.
- Panasonic Electric Works Europe AG
- Eaton Corporation
- Belkin International, Inc.
- Thermokon Sensortechnik GmbH
- Osum Smart Electrical Solutions
- General Electric Company
- MOKOSmart
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