Pushbutton Switch Products Witness Strong Growth in Asia-Pacific Region
Natick, Massachusetts- February 8, 2006 - The market for pushbutton switch products within the Asia-Pacific region is projected to reach $592.1 million in 2005 and is expected to grow at a compound annual growth rate (CAGR) of over 3.0% between 2005 and 2008.
Total Asia-Pacific Market, Segmented by Vertical Market
(Millions of Dollars)
2005 Total: Asia-Pacific Switch Market: $1.5 Billion
Pushbutton - Illuminated: 98.2
Pushbutton - Tactile: 252.0
Pushbutton - Other: 241.9
2008 Total: Asia-Pacific Switch Market: $1.7 Billion
Pushbutton - Illuminated: 112.7
Pushbutton - Tactile: 282.7
Pushbutton - Other: 309.8
Pushbutton - Illuminated 2005-2008 CAGR: 3.5%
Pushbutton - Tactile 2005-2008 CAGR: 2.9%
Pushbutton - Other 2005-2008 CAGR: 6.4%
I. Pushbutton-Illuminated: Illuminated pushbutton switch products will experience high levels of growth during the forecast period of this study. The growth will be highest in the vertical markets listed below, driven by strong demand from global manufacturers for new pushbutton-illuminated switch product technologies.
- Appliance/power tool;
- Consumer electronics; and
- Medical.
II. Pushbutton-Tactile: Tactile pushbutton switch products will see the least amount of overall growth of the three pushbutton product categories covered in this study, primarily due to technology refreshes/upgrades. VDC expects that the highest growth will occur within the vertical markets listed below.
- Appliance/power tool;
- HVAC/Energy management; and
- Instrumentation.
III. Pushbutton-Other: This pushbutton product category will witness the greatest growth of the three pushbutton products covered in this study. Software applications, sensors and electronic controls are the major factors driving the growth of this electromechanical switch product category. The following vertical markets will experience the greatest growth:
- Appliance/power tool;
- Consumer electronics; and
- Telecommunications.
According to Lance Sobelman, Senior Analyst of VDC's Electronics Components & Advanced Materials Practice, "The Asia-Pacific pushbutton switch market is in need of firms that have the ability to customize pushbutton switch products within this cost-competitive marketplace. This void presents a tremendous opportunity for current players or new market entrants to differentiate themselves from the competition and grow in areas where manufacturers are having difficulties keeping their profit margins from decreasing."
