Press release
Smart Plugs: The Building Block of Smart City Ecosystem| Market Trends and Investment Opportunities 2019-2026
Also, rise in development of smart cities, emergence of IoT in consumer electronics, and increase in technological advancements in industrial devices fuels the growth of smart plugs market. In addition, the easy conversion of conventional plugs into smart plugs have impacted the smart plugs and switches market.
The key players covered in the global smart plugs and switches industry are Honeywell International, Belkin International, Azpen Innovation, D-Link Systems, Aeon Labs, SAFEMORE, Adesso, Leviton Manufacturing, ITEAD Intelligent Systems, BroadLink, SMARTPLUG SYSTEMS, Orange, and ZigBee.
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The rapid conversion of metropolitan cities into smart ones with advanced infrastructure which controls the lighting devices, and various electronic devices through smart switches and smart plugs operated by remote control devices, and smart sensors usage. For instance, smart switches can improve the efficiency of power consumption and eliminate redundancies caused by manual switching which saves money and energy. In addition, smart switches provide ease of control for operation of appliances connected to the smart plugs. Smart plugs also act as a building block for smart homes, through which we can turn on/off the appliances via remote devices.
Further, the advancement of IoT and its increased usage for industrial and domestic purposes which connects smart devices through smart networks has impacted the smart plugs and switches market. For instance, programmable timer smart light switches connected through Wi-Fi connections can be programmed according to the need of the user for switching of lights.
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The latest advancements in smart switching uses artificial intelligence such as Alexa which provides personal lighting experience to the consumer. Therefore, the incorporation of AI in the smart switching and plugs also opens a wide future scope for application. Hence, it is expected to spike the global smart plugs and switch market in the projected period.
KEY BENEFITS FOR STAKEHOLDERS
This study includes the analytical depiction of the global smart plugs and switches market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information regarding the key drivers, restraints, and opportunities.
The current market is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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