Dublin, Ireland , Sept. 08, 2022 (GLOBE NEWSWIRE) -- According to detailed industry research by Fact.MR, a market research and competitive intelligence provider, the global kinetic switches market is currently valued at US$ 449.3 million and is predicted to expand at a noteworthy CAGR of 10.1% from 2022 to 2032, mainly on the back of the surge in the demand for smart home appliances to be used in households.
With the rising usage of smart devices and the emergence of technology such as Internet of Thing devices, connectivity requirements are skyrocketing. Increasing disposable income, technological upgradation, product development, and rapid rise in IoT have led the kinetic switches industry to grow at a fast pace. Furthermore, an increase in the sales of smart devices has driven up the demand for wireless switch products as well.
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Kinetic switches are available with built-in micro energy converters. When the switch panel is on, kinetic transforms that movement into energy to power internal radio systems and transmit signals to connected appliances. Wires, back boxes, and make holes in the wall are no longer needed for kinetic switches, like before, and make operations much easier.
Owing to technological developments in IoT, demand for kinetic switches due to their cost saving factor and low construction cost is expected to witness significant growth over the coming years.
Key Takeaways from Market Study
- The global kinetic switches market is projected to expand at 10.1% CAGR and reach US$ 1.18 billion by 2032.
- Sales of kinetic switches increase at 6% CAGR between 2017 and 2021.
- North America led the global market with 31.9% share in 2021.
- Together, South Asia & Oceania and East Asia represent 31.1% market share in 2022.
- Demand for kinetic switches is expected to increase at CAGRs of 9.7% and 11.4% in Europe and South Asia & Oceania, respectively.
“Advanced smart home devices will provide a route to scaling kinetic switch sales over the coming years,” says a Fact.MR analyst.
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Market Development
The emerging technology of IoT has led to more human-centric technology, which ensures improved mechanism and better security for homes, offices, vehicles, etc. To meet client requirements, a lot of research and development has been done around manufacturing smart and wireless switches to target customers who prefers a stylish look for their house; these can also be connected to smartphones and can keep a watch on the premise when no one is at home.
High penetration of smartphones and smart devices has led the market to gain traction. Kinetic switches provide a wireless connection that gives homes high safety features & easy installation, and are also environment-friendly.
In 2021, there were 258 million smart homes around the world and the United States was the biggest smart automation market in comparison to other countries. Millennials are ready to pay 20% more for smart homes, and this will generate opportunities for kinetic switch manufacturers.
Competitive Landscape
Several industry leaders in ICT are making their own strategies to stand out from other competitors in the kinetic switches market. Brands such as Enocean, Ebelong, Quinetic, Aurora, SurMountor, Hangzhou Queqi Technology Co., Ltd., Ener-J, Forum Lighting Solution, Lumenvault, Retrotouch, and Sensinovaand have started manufacturing kinetic switches to meet the high demand.
Advanced features in kinetic switches are gaining traction in the market; however, the stylish appearance and usage of advanced technology in kinetic switches make the product expensive, which could limit the target market to some extent.
Segmentation of Kinetic Switches Industry Research
- By Product Type :
- Pads
- Single
- Double
- Walls
- Single
- Double
- Pads
- By Operating Range :
- Less than 25 m
- 25-50 m
- 50-80 m
- Above 80 m
- By Frequency Range :
- 433 MHz
- 868 MHz
- 902 MHz
- 928 MHz
- 2.4 GHz
- By Technology :
- Enocean (Retrotouch, Enocean)
- Bluetooth
- Zigbee
- By End User :
- Residential
- Commercial
- BFSI
- Healthcare
- Corporate Offices
- Hotels
- Government and Public Sectors
- Retail Spaces
- Education Institutes
- Others
- By Region :
- North Americas
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global kinetic switches market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product type (pads (single, double) walls (single, double)), technology (Enocean* (Retrotouch, Enocean), Bluetooth, ZigBee), operating range [outdoor] (less than 25 m, 25-50 m, 50-80 m, above 80 m), and frequency (433 MHz (Europe, Asia), 868 MHz (Europe), 902 MHz (North America), 928 MHz (Asia), 2.4 GHz (Europe)), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa ).
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