Pushbutton switch products grow quickly in Asia-Pacific Region
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) exceeding 3.0% between 2005 and 2008, according to the Venture Development Corporation (VDC) report, " 2005 Electromechanical Switches: Global Market Demand Analysis ."
"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, " says the senior analyst of VDC's electronics components & advanced materials practice, Lance Sobelman. "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."
Total 2005 Asia-Pacific switch market is $1.5 billion, VDC says. In 2005, pushbuttons were $98.2 million for illuminated, $252.0 million for tactile, and $241.9 million for “other.” Total 2008 Asia-Pacific switch market is expected to be $1.7 billion. For pushbuttons, that’s $112.7 million for illuminated, $282.7 million for tactile, and $309.8 million for “other.” CAGRs, 2005-2008, are 3.5% for illuminated (largely in appliance/power tool, consumer electronics, and medical markets); 2.9% for tactile (in appliance/power tool, HVAC/energy management, and instrumentation markets); and 6.4% for “other” (in appliance/power tool, consumer electronics, and telecommunications markets).
— Edited by Mark T. Hoske , Control Engineering editor in chief