Dimmers Market - USD 39.1 Bn By 2028, With 16.30% CAGR Forecast by Credence Research

The latest market report published by Credence Research, Inc.?"Global Dimmers Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028". The?Global Dimmers Market generated revenue of around USD 15.8 billion in 2021 and is anticipated to grow a CAGR of over 16.30% during the forecast period from 2022 to 2028 to reach around USD 39.1 billion in 2028.?The integration of IoT technology into connected lighting systems, improved wireless communication technology, and greater awareness about energy efficiency's environmental and technological benefits will lead to the growth of the market. Furthermore, its numerous benefits—lower energy consumption, increased security and life duration, easier customization, and dimmer systems—will increase market value. An increasing number of smart cities and infrastructure upgrades for key end-user applications such as restaurants, the residential sector, and others are driving the expansion of the Dimmer industry. The rising need for energy and government attempts to promote energy conservation create profitable chances for the dimmers market's overall growth. However, the key end-user industries' ignorance of dimmers, particularly in developing countries, is predicted to hinder market expansion. Increased installation costs and a lack of technical knowledge in some areas for installation are other obstacles to the general expansion of the dimmers industry. The primary commercial problem is the inflated manufacturing and ownership costs for the disproportionately expensive dimmers fixture.

The global dimmers market is bifurcated into type, connectivity, application, and geography. Based on type, the dimmers market is categorized into halogen and incandescent dimmers, electronic low voltage dimmers (ELV), magnetic low voltage dimmers (MLV), fluorescent dimmers and high wattage dimmers. Based on connectivity, the global dimmers market is segmented into wired and wireless dimmers. The dimmers market is segmented based on residential, commercial and industrial applications. The dimmers market is segmented based on geography as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

In 2021, North America dominated the global dimmers market. It accounted for a major market revenue share due to the fast adoption of LED lighting solutions and intelligent lighting control systems. The US and Canada have a big impact on how the market grows due to the extensive use of smart homes in countries like the United States and Canada. A higher standard of living in the area has led to a growing need for smart dimmers to save energy and money, which has caused the market to grow.

Why To Buy This Report-

• The report provides a qualitative and quantitative analysis of the global dimmers market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
• The report provides a 360-degree global view of the market by providing information related to the competitive landscape, such as how key players in the market are operating at a global, regional, and country level.
• In-depth analysis of the global dimmers market segmentation based on type, connectivity and application.
• Major countries in each region with their import/export statistics
• The global dimmers market report also includes analyzing the global, regional, and country levels, along with key market trends, significant players analysis, market growth strategies, and key application areas.