Press release
Bluetooth Smart Plugs Market Opportunity Analysis and Industry Forecast, 2021-2030
The global Bluetooth smart plugs market size was valued at $0.69 billion in 2020, and is projected to reach $5.38 billion by 2030, growing at a CAGR of 24.3% from 2021 to 2030. A Bluetooth smart plug enables to power an outlet on or off from smartphone or voice assistant devices. It is very simple to connect, however, cannot be controlled when the user is away from home. This is attributed to the fact that it requires a hub, also called a bridge, which relays commands from user's smartphone to the cloud and back to the smart plug. Besides allowing users to switch the socket, Bluetooth smart plugs also let users set schedules for when the outlet can power on or off automatically.
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Moreover, Bluetooth smart plug monitors energy usage of connected appliances and prevents extra consumption of energy, when the appliances are not in use. According to manufacturers, Bluetooth smart plugs can reduce energy consumption of a home in between 1.00% and 4.58%. It also improves home network connectivity. Some of the applications of Bluetooth smart plugs are controlling lighting of a house, air conditioner, coffee maker, smartphone charging stations, TV, fan, heater, and tricking burglars through alarms.
Rise in demand for convenient user experience is the prime reason that drives growth of the Bluetooth smart plugs industry during the forecast period. Further, growing deployment of home automation devices accelerates the market growth rapidly. Moreover, high adoption of wireless technologies, which is opportunistic for the market growth. Considering these factors, the market is estimated to experience exponential growth in the future.
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Some of the other drivers for the Bluetooth smart plugs market are increased disposable income and rise in demand for enhanced security. Rise in urbanization in Asia-Pacific countries offer a lucrative growth opportunity for the market. However, incompatibility with some intelligent devices act as major restrain for the Bluetooth smart plugs market growth.
Key Benefits For Stakeholders
This study comprises analytical depiction of the Bluetooth smart plugs market trends along with the current trends and future estimations to depict the imminent investment pockets.
The overall Bluetooth smart plugs market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current Bluetooth smart plugs market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the market.
The report includes the Bluetooth smart plugs market share of key vendors and market trends.
Key Market Segments
By Type
Two-hole Plug
Three-hole Plug
Porous Plug
By Price
Low
Medium
High
By End Use
Residential
Commercial
Industrial
Key Players
D-Link Corp.
Belkin International Inc.
Etekcity Corporation
EDIMAX Technology Co. Ltd.
iSmart Alarm Inc.
Insteon
Panasonic Corporation
Leviton Manufacturing Co. Inc.
TP-Link Technologies Co. Ltd.
SDI Technologies Inc.
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https://www.alliedmarketresearch.com/smart-antenna-market-A09800
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