In recent years, modular switches are stylish and appealing and available in various designs, styles and colours and can perfectly complement the newly done interiors of home and office as well. The growth in the adoption of modular switches in various applications such as commercial and residential building across the world.This growth is primarily driven by 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.
Globally, a noticeable market trend is evident Manufacturers are Focusing on the Development of Technically Advanced Modular Switches at Affordable Prices. Major Manufacturers, such as Panasonic Corporation (Anchor Electricals) (Japan), Havells India Ltd. (India), Honeywell Electrical Devices and Systems India, Legrand (France), Wipro (India), ABB (Switzerland), General Electric (United States), GM Modular Pvt. Ltd. (India), Koninklijke Philips N.V. (Netherlands) and Schneider Electric (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- The Growing Safety and Security Concerns among End-User Led in Adoption of Modular Switches
- Increasing Penetration of Internet and Sales of Products through E-Commerce Paortals
- Manufacturers are Focusing on the Development of Technically Advanced Modular Switches at Affordable Prices
- Limited Adoption Rate in Rural Areas in Developing Countries
- High Cost of Smart Switches
Rapid Growth in the Residential and Commercial Buildings in Developing Economies
Lack of Awareness in Underdeveloped Nations
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