Modular Switches' Contribution to the Growth of Indian Switch Industry

In a report titled "India Modular Switch Market by Sales Channel (Direct Sales, Sales through Intermediaries, Online and Dual Distribution), Vertical (Residential, Industrial, Commercial) - Opportunity Analysis and Industry Forecast, 2015 - 2022," Allied Market Research provided market forecasting data for the period from 2015 to 2022. This report showed that there will be significant growth in this industry with the help of several factors.

Some of the factors influencing the market's growth include rising concern for industrial safety, mandatory rules by regulatory bodies, and the real estate sector's explosive rise. Additionally, it is anticipated that the introduction of novel solutions and the growing use of modular switches in a variety of industries, such as residential and commercial buildings, healthcare, retail, IT & telecommunication, hospitality, and others, will propel the growth of the Indian modular switch market. Moreover, pushing technical development in the market is the growing demand for modular switches outfitted with cutting-edge features like child safety shutters, USB charging sockets, regulators, and LAN connectors.

Due to its direct access to clients throughout India, the sales through the intermediary category, which held a market share of around 54%, were dominant. Leading manufacturers of modular switches in India have an extensive network of dealers and distributors. Dealers, merchants, or other middlemen impact about 15 out of every 100 sales in some way. The sector for online sales and dual channels is anticipated to grow at the highest CAGR of over 22% due to the growing popularity of e-commerce among Indian consumers.

The Indian modular switch market is further divided into segments based on price, including low, medium, high, premium, and luxury levels. Since the majority of Indians fall into the low-income category, they can afford and choose low-price level modular switches. The category that brought in the most money in 2022 is predicted to maintain its supremacy for the next year as well.