Press release
Smart Plug Market In 2021-2026 Including Top Key Players, Trends And Emerging Growth Factors
The Smart Plug Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Smart Plug market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Smart Plug market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Smart Plug market.The smart plug market was valued at USD 5.1 billion in 2020 at a CAGR of 42.2% over the forecast period 2021 - 2026.
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Top Leading Companies of Smart Plug Market are - Belkin International Inc, BroadLink Technology Co. Ltd, Panasonic Corporation, iHome Inc, Ankuoo Electronics Inc., EDIMAX Technology Co. Ltd, Etekcity Corporation, Xiaomi Corporation, Satechi Inc., Blackloud Inc., Revogi Innovation Co. Ltd, Lenovo Group Limited, Leviton Manufacturing Company Inc., TP-Link Technologies Co. Ltd, Insteon Inc. and others.
Industry News and Updates:
- June 2019, Edimax Technology, announced a national distribution partnership across France with APM France, a French-based specialist in micro-computing, audio-video, multimedia products, and mobile phone accessories. Its offers are visible in many major national chain stores under its own brands and private labels.
- In September 2020, Amazon launched its Smart Plug in India in its smart-device lineup. The Smart Plug has been designed for the Indian market. It utilizes a 3-pin socket design, supports a 6A power rating, and a state retention feature that ensures that appliances go back to their last state (on/off) in case of a power outage and resumption. The Amazon Smart Plug is priced at INR 1,999 in India and can now be purchased on Amazon India and at select Croma and Reliance Digital outlets.
Key Market Trends:
House Hold Use to have a Significant Control on the Smart Plug Market
- The most fundamental application of the smart plug is energy monitoring and Control in household use, for example in Smart HVAC Systems. Apart from that, smart plugs give real-time insights with more exceptional accuracy at equipment level whereas most of the smart meters employ disaggregation algorithms to examine the smart meter reading for measuring equipment level consumption. While smart plugs may have added features to control energy consumption on a regular basis, the insights given by smart meters are principally passive and need a greater cycle of observation and analysis.
- Electricity theft incites huge losses for utilities globally. With the growing installation of smart meters, these conflicts are growing more and more discrete and challenging to identify. With the implementation of smart plugs, the specific energy reading from any machine can easily be matched with the smart meter data to conclude whether electricity theft is taking place or not. Thus, smart plugs can give important insights and an answer to the problem of electricity theft.
North America Leads in the Smart Plug Market
- North America has been outpacing all other regions in terms of growth rate in the global market for smart plugs. Factors delivering about such progress in the sales has been the large acceptance of technologically advanced products amongst customers and the average disposable income of the population.
- Smart homes are on the surge in North America, with nearly 30 million U.S. households forecasted to add smart home technology in future. The products customers are looking to attach to their homes include video doorbells, connected cameras, connected light bulbs, smart locks and smart speakers of late, which could lead to the growth of the smart plug market.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Smart Plug Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Smart Plug Market (%),2016 - 2026
- Smart Plug Market Share, By Brand
- Smart Plug Market Share, By Company
- Smart Plug Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Smart Plug Market Value Analysis & Forecast
- Promising Smart Plug Development by Major Companies
- Detailed Smart Plug Portfolio of the Major Companies
- Major Deals in the Smart Plug Market
- Major Companies Analysis
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https://www.marketinsightsreports.com/reports/02082592916/smart-plug-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=namita
We Offer Customization on Report Based on Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
Contact Us:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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