Indian Modular Switch Market is Estimated to Generate $1,595.0 Million, Globally, by 2022 - Allied Market Research - Seite 2

The sales through intermediary segment dominated the market with around 54% share, owing to their personal reach to the customers across India. Leading players in modular switch market have a strong network of distributors and retailers in India. As per AMR analysis, out of every 100 purchases, around 15% purchases are directly or indirectly influenced by dealers, retailers or other intermediaries. Online sales & dual channels segment is projected to expand at the highest CAGR of around 22%, owing to rising adoption of e-commerce among Indian population. Based on the sale through intermediary, South India accounted for the maximum revenue generation for modular switches in 2015and is expected to continue its dominance throughout the forecast period.

Indian modular switch market is also categorized according to the price level such as low, medium, high, premium and luxury levels. Majority of Indian population falls under low income group, hence can afford and prefer low price level modular switches. This segment generated maximum revenue in 2015 and is expected to continue its dominance throughout the forecast period. However, medium price level segment is expected to grow at the fastest rate during the analysis period owing to the rising standard of living of Indian population and increasing disposable income.

Among verticals, the residential sector led the market, followed by commercial sector, both collectively accounting for around 91% of the market revenue in 2015. Residential sector alone contributed around 52% of total revenue in 2015 and is expected to dominate the Indian modular switch market throughout 2015 and 2022 at a CAGR of 21.5% from 2016 to 2022. This increase is mainly due to rapid urbanization in India, growing population, and increasing demand for residential space. Commercial sector is expected to grow at a fastest CAGR during the forecast period owing to rapid growth in industrialization and service sector.

The Indian modular switch market is classified based on geography into North India, West India, South India and East India. West India generated the largest revenue in 2015, followed by South India which is projected to expand at the highest CAGR of around 22.7% during the forecast period. This increase is anticipated on account of supportive government initiatives and regulations, increase in service industry as well as rising demand for residential space in West India.