Modular switches are customizable, high-capacity switches that have outpaced traditional switches in terms of design, ease of installation, operational efficiency, and appearance. These switches are available at affordable prices and are equipped with advanced technologies such as Internet connectivity, USB sockets, and childproof shutters, among others. These are safer and convenient to operate as compared to conventional switches. These switches incorporate two types of components: switches, sockets, & other accessories; and mounting plates for placing the switch. Enhanced safety measures, vibrant colors, advanced technology, smooth operation, and lower costs of maintenance are the characteristics features of modular switches.
Modular switches comply with the government regulations regarding safety in household, commercial, and industrial sectors. These switches are more expensive than non-modular switches, owing to their higher capacity and advanced safety features. The modular switch market is driven by factors such as electrical safety concerns, compliance to safety regulations, and rapid growth of the real estate industry. The market is segmented on the basis of sales channel, price level, vertical, and region. Based on sales and distribution of modular switches, the market is segmented into direct sales, sales through intermediaries, dual distribution, and reverse channel.
Based on price level, the market is divided into low, medium, high, premium, and luxury levels. The low level subsegment includes modular switches priced $5 and below, whereas modular switches priced $6‐$10 are included in the medium level subsegment. The high level subsegment consists of modular switches in the price range of $11‐$20, while switches in the price range of $21‐$30 are included in the premium level subsegment. The luxury subsegment consists of modular switches in the price range $30 and above.
The market is segmented by vertical into residential, industrial, hospitality, healthcare, retail, IT & telecom, and others (government and educational institutions). The regional segmentation consists of North India, East India, West India, and South India.
The key players operating in the market include Havells India Limited, Legrand Group, Anchor Electricals Pvt. Ltd. (Panasonic Corporation), GM Modular, Koninklijke Philips N.V., Schneider Electric SA, Wipro Lighting, ORPAT Group, ABB Group, and KOLORS.
Key Market Segments
The market is segmented on the basis of sales channel, price level, vertical, and region.
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