Global Wall Modular Switches Market by Type (Traditional and Smart) By Product Type (One Way Switch, Two Way Switch, Fuse Switch and Adjusted Switches) by Distribution Channel (Direct Sales, Sales Through Intermediaries, Online Sales), Application (Residential, Industrial & Commercial) and by Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030

Industry Perspective

Wall Modular Switches Market size was worth around USD 3.23 billion in 2021 and is predicted to grow around USD 16.67 billion by 2030 with a compound annual growth rate of roughly 22.7% between 2022 and 2030. These switches are a type of computer network switch that has a large capacity and may have its capabilities updated by utilizing field-replaceable modules.

Wall Modular Switches Market Statistics

Market Overview

Consumers benefit from increased safety, the ability to customize their switches, and more variety when they invest in modular switches compared to conventional switches. The design, operational efficiency, simplicity of installation, and aesthetics of modular switches are distinct from those of traditional switches. The viability of modular switches has led to their use in a variety of vertical applications including commercial and residential buildings, IT & telecommunications, hospitality, healthcare, and retail.

Conventional switches have evolved into a more advanced form known as modular switches, which satisfies people's growing desire for increased security as well as aesthetics. These switches offer increased dependability, customization, diversity, and other features that are not found in conventional switching. In addition, these switches come with a host of other distinctive characteristics.

Wall switches are among the most ubiquitous and indispensable components of a home's electrical system. There are several varieties of switches, and even though they might look the same prior to installation (provided that the individual outlet covers remain intact), the switches themselves look and behave differently once they have been installed.

Installation of modular switches offers several benefits, including, elegant features and design that lift up home decor for residential areas; signaling, automation, data transmission, protection along with safety, and power efficiency making it multifunctional and versatile when compared to conventional switches. Additionally, smart switches are gaining traction with attractive and customized appearances as compared to traditional ones is likely to propel the wall modular switches market growth.

wall modular switches market outlook

Key Insights

As per the analysis shared by our analyst team, the wall modular switches market is estimated to grow annually at a CAGR of around 22.7% over the forecast period and is projected to reach USD 167.67 billion by 2030.
On the basis of type, the modular segment was dominating the market share in the year 2021
By product type, the one-way switch segment was leading the market share in the year 2021
Based on sales channel segmentation, the direct sales were predicted to show maximum market share in the year 2021
Based on application segmentation, the residential segment was predicted to show maximum market share in the year 2021
On the basis of region, North America was the leading revenue generator in 2021

Rising concerns among customers toward industrial safety escalating the sales of wall modular switches

The growth of the market is anticipated to be driven by the increasing adoption of smart and aesthetically modern switches for the purpose of improving industrial safety and security. In addition, low-income groups are more likely to be interested in adopting modular switches due to the fact that these switches have features such as affordable pricing, childproofing, and flameproofing.

Increasing demand in the residential sector for modular switches propelling the product growth

Customers are upgrading their conventional switches with modular switches because of the features of modular switches, allowing customers to get a better fit with wall colors and interior decorating. As a result, there is a significant increase in the demand for modular switches in the residential sector. In addition, the expansion of the wall modular switch market is predicted to be driven by factors such as supporting government initiatives, an increase in income per capita, and declining prices of modular switches.

It is anticipated that there will be a favorable shift in the market because of the brisk expansion that is taking place in the construction industry. The market for modular switches has expanded at an exponential rate due to increased options for modular switches and the reliability of the supply chain. Moreover, government norms are getting strict when it comes to employee safety standards which are enabling the manufacturers to enter the market to capture their share of profit.

Segmentation Analysis

On the basis of type, the traditional segment dominates the wall modular switches market share owing to the widespread usage by the customers. As it is commonly used for the purpose of lighting control. And controlling ceiling fans and electrical outlets is another use of these switches.

Based on sales channel, the global market is segmented into direct sales, sales through intermediaries & online sales. The direct sales segment dominates the market share owing to the increasing distribution channels across developing countries. Additionally, the OEMs produce more marginal or nominal profit through direct sales.

By application, the residential segment dominates the market share owing to the rising inclination of millennials towards homeownership has been a big contributor to the development. According to Apartment List's research on homeownership, the homeownership percentage among millennials has climbed from 40% in 2020 to 47.9% in 2021.

Recent Development

June 2022- Panasonic has introduced an Exclusive Brand Outlet (EBO) in Lucknow, India to accelerate its retail reach and expansion with the intention of strengthening its customer connection, the company will make substantial investments in its retail strategy. To ensure customers for exceptional quality and high-tech products.

March 2021- Schneider Electric introduced anti-viral switches, under Clipsal X range, concentrating on enhancing the quality and technological integration of the switches.

Regional Landscape

North America is dominating the market due to rapid technological advancement

North America is dominating the wall modular switches market revenue by 2030 owing to rapid technological advancements and early adopters of modular switches. Increased consumer spending on safety and trending switches in the region is predicted to be a key factor in the evolution of the business. In addition, improvements in different corporate services such as hospitality, hotels, and IT have contributed to the expansion of the market.

wall modular switches market by region

Competitive Landscape

The major player in the wall modular switches industry are Schneider Electric, Inc., Panasonic, Orpat Group, GM Modular, Legrand, Koninklijke Philips NV, Wipro, ABB, Havells Group, Honeywell International Inc., Kolorsworld amongst others.

The global wall modular switches market is segmented as follows:

By Type

Traditional
Smart

By Product Type

One Way Switch
Two Way Switch
Fuse Switch
Adjusted Switches

By Distribution Channel

Direct Sales
Sales Through Intermediaries
Online Sales

By Application

Residential
Industrial
Commercial

By Region

North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic countries
  - Denmark
  - Finland
  - Iceland
  - Sweden
  - Norway
- Benelux Reunion
  - Belgium
  - The Netherlands
  - Luxembourg
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
  - Indonesia
  - Thailand
  - Malaysia
  - Singapore
  - Rest of Southeast Asia
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America

FAQ

+ Which key factors will influence wall modular switch market growth over 2022-2030?

Customers are upgrading their conventional switches with modular switches because the features of modular switches allowing the customers to get a better fit with wall colors and interior decorating.

+ What will be the value of the wall modular switch market during 2022-2030?

The global wall modular switch market size was worth around USD 3.23 billion in 2021 and is predicted to grow to around USD 16.67 billion by 2030 with a compound annual growth rate of roughly 22.7% between 2022 and 2030.

+ Which region will contribute notably towards the wall modular switch market value?

North America is dominating the market share of global wall modular switches market owing to the rapid technical advancements and early adopters of modular switches is likely to propel the region forward.

+ Which are the major players leveraging the wall modular switches market growth?

Schneider Electric, Inc., Panasonic, Orpat Group, GM Modular, Legrand, Koninklijke Philips NV, Wipro, ABB, Havells Group, Honeywell International Inc., Kolorsworld amongst others.