Indian Modular Switch Market is Estimated to Generate $1,595.0 Million, Globally, by 2022 - Allied Market Research

PORTLAND, Oregon, September 27, 2016 /PRNewswire/ --

A new report by Allied Market Research, titled, "Indian Modular Switch Market - Global Opportunity Analysis and Industry Forecast, 2015- 2022" projects that the Indian modular switch market is expected to generate revenue of $1,595.0 million by 2022, at an estimated CAGR of over 22% from 2016 to 2022. Among different sales channels, the sales through intermediary is expected to dominate the market throughout the analysis period. Further, among regions, the West India dominated the market in terms of market share and accounted for around 32% share of the overall Indian modular switch market in 2015.

     (Logo: http://photos.prnewswire.com/prnh/20140911/647229 )

Summary of the Indian Modular Switch Market Report can be accessed on the website at https://www.alliedmarketresearch.com/india-modular-switch-market

Increasing concern towards industrial safety; obligatory regulations by governing bodies; and rapid growth in real estate sector are some of the factors driving the market growth. Further, increasing use of modular switches in numerous verticals including residential and commercial buildings, healthcare, retail, IT & telecommunication, hospitality and others along with introduction of novel solutions are anticipated to boost the Indian modular switch market growth. In addition, rising demand for modular switches equipped with advanced features such as child safety shutters, USB charging socket, regulators, and LAN connectors are driving technological advancements in the market. However, high costs involved in manufacturing; and unorganized market limit the growth of this industry. The growth opportunities in the Indian modular switch market are increasing owing to the rising economic development in India and cost-effective business models and production.

Retail sector in India accounted for the maximum share in revenue generated by commercial sector in 2015, followed by IT & Telecommunication and healthcare sectors. The demand for modular switches in retail sector is anticipated to be accelerated by the increasing awareness about technology and popularity of building automation and management. Moreover, organized retail is expected to show huge market growth in Tier-I and Tier-II cities, owing to the rising living standards and changing lifestyle of the population in these cities. West India accounted for highest revenue in 2015; however, South India is anticipated to grow at the fastest CAGR during the analysis period.