Global Modular Switch are expected to make a significant contribution to the overall industry.
According to a lead Analyst "Manufacturers are focusing on the expansion of their business through the increase in the number of distributors. For instance, Legrand has 600 dealers and 7,400 retailers and Havells has a network of 2,500 dealers and 100,000 retailers and also Anchor has 5,000 dealers and 450,000 retailers in India. Business-to-business exhibitions and campaigns are anticipated to enable these players to gain a competitive advantage in the market.". Buoyed by strong demand and sales, industry profit margins have increased considerably during past few years.
According to the report, some of the important driving forces behind the market growth are The Growing Safety and Security Concerns among End-User Led in Adoption of Modular Switches and Increasing Penetration of Internet and Sales of Products through E-Commerce Paortals. The primary concern of any business is the reduction of the overall operating cost. The increased need for operating efficiency and meeting regulatory demands at the same time have become major challenges for the original Manufacturers, additional restraints impacting market are Limited Adoption Rate in Rural Areas in Developing Countries and High Cost of Smart Switches which is continuously seeking attention of Industry Experts and Decision makers.
The Modular Switch Ecosystem: 2018-2024 Opportunities, Challenges, Strategies, Industry Verticals & Forecasts report presents an in-depth assessment of the Modular Switch market including latest technologies & innovation, key trends, market drivers, challenges, vertical & market applications along with deployment case studies, regulatory landscape, future roadmap and strategies, value chain and player profiles. The report also presents market size forecasts from 2018 till 2024. The forecasts are segmented by Type (Traditional Switches and Smart Switches), by Application (Residential, Industrial and Commercial) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Data Sources & Methodology The primary sources involves the industry experts from the Modular Switch Market including the management organizations, processing organizations, analytics service providers of the industry’s value chain. All primary sources were interviewed to gather and authenticate qualitative & quantitative information and determine the future prospects.
In the extensive primary research process undertaken for this study, the primary sources – Postal Surveys, telephone, Online & Face-to-Face Survey were considered to obtain and verify both qualitative and quantitative aspects of this research study. When it comes to secondary sources Company's Annual reports, press Releases, Websites, Investor Presentation, Conference Call transcripts, Webinar, Journals, Regulators, National Customs and Industry Associations were given primary weight-age.