Catching the Wave of Smart Home Automation: Global Smart Outlet Market Size to Reach USD 0.2 Billion in 2022, Growing at a CAGR of 32% from 2023 to 2033

As per the study initiated by Evolve Business Intelligence, the global Smart Outlet Market size accounted for USD 0.2 Billion in 2022, growing at a CAGR of 32% from 2023 to 2033. A smart outlet, also known as a smart plug, is an electrical device that can be plugged into a traditional electrical outlet, allowing the user to remotely control and monitor the power usage of any device that is plugged into it. Smart outlets are typically connected to a Wi-Fi network, which allows them to be controlled via a smartphone app or voice assistant. They can also be set on a schedule to turn on and off at specific times or to respond to triggers such as motion detection or temperature changes. Some smart outlets also have energy monitoring capabilities, allowing users to track and analyze their energy usage and potentially save money on their electricity bills. Smart outlets are commonly used for home automation, allowing users to control their lighting, appliances, and other devices remotely or through voice commands.
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Key Highlights:
• The global Smart Outlet Market size was valued at USD 0.2 billion in 2022 growing at a CAGR of 32% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
Evolve Business Intelligence has published a new market research report on the Global Smart Outlet Market focusing on various aspects including market size and forecast, market dynamics, competitors' market share analysis, market size in terms of value and volume, SWOT analysis, product benchmarking, key players recent developments, and opportunities, among others. The market has also been analyzed based on 4 indicators in the market dynamic chapter which include Drivers, Restraints, Key Trends, and Challenges. The overall sum of these sections will help to understand the best strategies to be adopted to prosper in this industry over the short and long terms. The quantitative analysis includes our authentic findings of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.
In terms of COVID-19 impact, the Smart Outlet Market report also includes the following data points:
• COVID-19 Impact on Smart Outlet Market Size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players' Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in Smart Outlet Market
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Key Players
Some of the major Smart Outlet Market players holding high market share include Belkin International, Inc, D-Link Corporation, Panasonic Corporation, and EDIMAX Technology Co. Ltd. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
• Belkin International Inc
• D-Link Corporation
• Panasonic Corporation
• EDIMAX Technology Co Ltd
• SDI Technologies, Inc
• TP-Link Technologies Co Ltd
• Xiaomi Inc
• Ankuoo Electronics Inc
• Satechi
• ConnectSense
• Lenovo Group Limited
Segmental Analysis
Market Segment ByType with focus on market share, consumption trend, and growth rate of Smart Outlet Market:
o Wi-Fi
o Bluetooth
Market Segment ByApplication with focus on market share, consumption trend, and growth rate of Smart Outlet Market:
o Commercial
o Household
o Industrial
Parameters Details
Market Size (2022) USD 0.2 Billion
CAGR (2023 to 2033) 32%
Market Segmentation Type, Application
Country Covered US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America
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Global Smart Outlet Market Geographic Coverage:
• North America
o US
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Nordic Countries
o Benelux
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Australia
o Rest of Asia Pacific
• Middle East and Africa
o Saudi Arabia
o UAE
o Egypt
o South Africa
o Rest of MEA
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
Reasons to Buy this Report:
• Detail analysis of the impact of market drivers, restraints, and opportunities
• Competitive Intelligence provides an understanding of the ecosystem
• Details analysis of the Total Addressable Market (TAM) of your products
• Investment Pockets and New Business Opportunities
• Demand-supply gap analysis
• Strategy Planning

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