DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/zwvrc2/modular_switch) has announced the addition of the "Modular Switch Market in India 2012-2016" report to their offering.
TechNavio's analysts forecast the Modular Switch market in India to reach US$604.53 million by 2016. One of the key factors contributing to this market growth is the rapid growth of the Construction industry in India. The Modular Switch market in India has also been witnessing the development of advanced modular switches. However, the high cost of modular switches could pose a challenge to the growth of this market.
The key vendors dominating this market space are Anchor Electricals Pvt. Ltd., Havells India Ltd., Honeywell Electrical Devices and Systems India Ltd., and Legrand India Pvt. Ltd.
The other vendors mentioned in this report are GE Co., Schneider Electric SA, ABB Ltd., and Philips Electronics India Ltd.
Commenting on the report, an analyst from TechNavio's Engineering team said: ''Many wiring equipment vendors are developing advanced modular switches with improved energy efficiency and reduced maintenance costs. The development of integrated automation systems leads to the development of advanced integrated modular switches. These integrated modular switches can be integrated with automation systems to improve overall operating efficiency. Therefore, the development of advanced and next-generation modular switches is one of the emerging trends in the Modular Switch market in India.''
According to the report, the Modular Switch market in India is driven by the Construction industry, which is growing at a rapid rate in India. The number of commercial buildings and residential apartments is increasing across the country, especially in tier 1 cities and metro cities. Many commercial building builders and apartment builders prefer modular switches and use modular switches as one of the special features in their buildings. Therefore, the increasing number of residential buildings and commercial buildings in India enhances the demand for modular switches.
For more information visit http://www.researchandmarkets.com/research/zwvrc2/modular_switch