The global market for electromechanical switch products is expected to reach $4.2 billion by 2008, according to a study by Venture Development Corp. (VDC) of Natick, Mass. After years of decline due to financial crises, all switch products covered in the study are expected to grow during the forecast period.
The value of global switch consumption, which was $3.7 billion in 2004 and $3.8 billion in 2005, is expected to rise to $3.94 billion this year, $4.1 billion in 2007, and $4.2 billion in 2008, according to VDC analysts.
The highest growth product categories are in three areas: pushbutton switches, rocker switches, and DIP switches.
In pushbutton switches, the global market share is expected to increase each year of the forecast period. Sectors consuming an increasing amount of this product type include appliance/power tool, automotive transportation and telecommunications.
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For rocker switches, huge growth is expected within North America. Applications within the consumer electronics and telecommunication sectors are forecasted to drive this regional growth.
DIP switches globally will experience a gain in market share. All regions covered in this report will also see market share gains for DIP switch products. More applications and products are finding DIP switches as a viable alternative.
After nearly five years of industrywide decline, VDC predicts that the electromechanical switch market overall will experience a resurgenc.
“The industry has been in recovery mode since the financial crises and trade agreements such as NAFTA have greatly assisted in the revival of a once-thriving marketplace,” Sobelman says.
For more information contact VDC online at www.vdc-corp.com.
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