Modular switches are an advanced version of conventional switches, which cater to the increasing need for safety and aesthetics among individuals. These switches provide added safety, customization, variety, and other novel features as compared to traditional switches. Easy availability of these modular switches at affordable prices in the Indian market has increased their adoption in various applications across verticals such as commercial and residential buildings, IT & telecommunication sector, hospitality, healthcare, retail, and others. The key players in the market are focused on developing technically advanced modular switches at affordable prices. The rapid boom in the construction sector in India has created huge growth opportunities for market players. In 2015, the Indian modular switch market generated $430.0 million, and is expected to grow at a CAGR of 22.3% during 2016 – 2022.
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The key players operating in the Indian modular switch market promote their products through digital and physical modes of advertisements.
In the recent past, penetration of Internet in India and purchase of products through e-commerce portals have increased rapidly. Modular switch marketing through company websites, social networking sites, and e-commerce portals, such as IndiaMART and Urjamart have enabled key players to increase their presence among online customers. In addition, major players have focused on expanding their online distribution network to improve their customer services and sustain the market competition.
Television (TV) Advertisement
TV is one of the most effective advertising media platforms in India. In terms of key performance metrics including new customers and sales, advertising through TV outperforms other marketing media such as digital marketing and other offline marketing. Major players, such as Havells and Anchor have heavily invested in TV advertisements to promote their brands.
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Physical Modes of Advertisement
Brand promotion via local newspapers helps companies to promote awareness about their products among the populace. Business-to-business exhibitions and campaigns are anticipated to enable these players to gain a competitive advantage in the market.
Thus, key players are expected to promote their products through effective and innovative online videos, social media campaigns, and email message campaigns. In addition, promotions through corporate gifts help prominent players to expand their presence, especially in the commercial sector.
Currently, Anchor by Panasonic has the largest number of modular switches sales offices pan India. Furthermore, Anchor by Panasonic has the maximum numbers of sales offices, i.e., 21 in West India as compared to other regions.
The Indian modular switch market is segmented based on sales channel into direct sales, sales through intermediaries, and online & dual distribution. In India, sales through intermediaries mode plays a vital role in reaching out to maximum number of customers across various cities. Moreover, these intermediaries play a crucial role in the sales of modular switch brands in India. As per AMR analysis, about 15.0% purchases out of every 100 purchases are directly or indirectly influenced by retailers and other intermediaries. Thus, key players offering modular switches have focused on expanding their distribution networks across the country. For instance, Legrand has 600 dealers and 7,400 retailers in India; Havells has a network of 2,500 dealers and 100,000 retailers; whereas Anchor has 5,000 dealers and 450,000 retailers.
In terms of geography, South India is anticipated to dominate the market by 2022, owing to increase in construction of new malls and other real estate projects in the region. In addition, supportive government initiatives along with attractive FDI policies have encouraged and attracted international retailers to enter the Indian market. This is anticipated to increase the development of malls and retail stores in India, due to increasing demand for durable and aesthetic modular switches. Thus, these factors are expected to drive the market growth and create opportunities for modular switch manufacturers.
Competitive intelligence of prominent modular switch manufacturers provides key insights in terms of strategies implemented by them to improve their market shares. Some of the leading manufacturers profiled in this report include Havells India Limited, Legrand, Anchor Electricals Pvt. Ltd. (Panasonic Corporation), GM MODULAR, Koninklijke Philips N.V., Schneider Electric SA, Wipro Lighting, ORPAT Group, ABB Group, and KOLORS.
Increasing Concerns Towards Industrial Safety
Increasing safety and security concerns among end users has increased the adoption of modular switches among customers. Furthermore, low-income groups are inclined towards installing low-priced, childproof, flame-proof modular switches at their residences. Furthermore, the adoption of smart and attractive modular switches among end user verticals is anticipated to increase in the near future. Thus, the overall impact of this factor is projected to increase by 2022.
Chapter: 1 INTRODUCTION
1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
Chapter: 2 EXECUTIVE SUMMARY
2.1 CXO perspective
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Chapter: 3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Marketing communication and brand perception & preference
3.2.1 Marketing communication techniques
3.2.2 Brand perception and preference
3.3 Desired brands, preferred brands and need/gaps analysis
3.4 Key findings
3.4.1 Top factors impacting the market
3.4.2 Top investment pockets
3.4.3 Top winning strategies
3.5 Competitors product analysis and value chain analysis
3.5.1 Products features analysis
3.5.2 Indian modular switch market: value chain analysis
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