Press release
Why Global Smart Plug Market Will Be Your Next Big Obsession: Market Overview, Size, Segments, Top Key Players & Forecast 2032
Global Smart Plug Market
A smart plug is an IoT-based plug that works using Wi-Fi and Bluetooth. Smart connected plugs are the easiest way to increase efficiency and automate the operation of wired devices in your smart home. These plugs help form a network of intelligent electrical devices within a smart home system, control the operation of the plug system, and establish communication protocols between lights and switches in a given area. These plugs are installed directly on the wall during smart home electrical installations or plugged into traditional electrical plugs. IoT-compatible software and applications are used to manage the operation of these connectors. With the help of virtual assistant devices such as Amazon Alexa, Google Home and Siri, these sockets can be operated using voice commands and gestures. All wired or wireless electrical appliances such as fans, lights, lamps and other devices can be operated by one person using a smartphone, tablet or laptop when connected to a smart plug.
The global market for smart plugs and connected plugs has grown rapidly over the past decade and this trend is expected to continue during the forecast period. However, with the strict implementation of global lockdowns restricting the movement of people and disrupting the supply chains of various smart home device makers in each country, the rising number of people infected with the new coronavirus infection is expected to increase in 2020. market growth slowed slightly. Migration of daily activities to digital platforms and emergence of cutting-edge technologies such as Internet of Things are expected to drive the market growth during the forecast period. Smart plugs are also known as smart connected electrical control systems. Smart plugs with IoT technology are widely used to turn ordinary devices into smart devices. Various electronic control devices are used by plugging them into the outlet. Increased trend towards green electronic devices and increased penetration of Internet of Things (IoT) in modern smart and connected home systems is expected to drive the growth of the industry. Energy saving is one of the themes that are attracting the most attention worldwide, and the introduction of IoT-based connected device systems is expected to greatly contribute to energy conservation and energy conservation. Many facility managers, housekeeping managers, and company managers are raising awareness of energy conservation. They set various organizational or cross-departmental energy conservation and conservation goals. To achieve these goals, administrators are rapidly deploying intelligent networked plug systems within their companies. Moreover, increasing adoption of building management systems in commercial buildings is expected to drive the growth of the global smart plug market.
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Market Segments
By Connection
Wi-Fi
Bluetooth
By Application
Commercial
Household
Industrial
By Geography
North America
o U.S.
o Canada
o Mexico
Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
Latin America
o Brazil
o Argentina
o Colombia
MEA
o South Africa
o Saudi Arabia
o UAE
Egypt
Key Players:
Belkin International, Inc.
D-Link Corporation
Panasonic Corporation
EDIMAX Technology Co. Ltd.
Etekcity Corporation
Insteon
Leviton Manufacturing Co., Inc.
SDI Technologies, Inc.
TP-Link Technologies Co., Ltd.
Xiaomi Inc.
Ankuoo Electronics inc.
Satechi
ConnectSense
Lenovo Group Limited
Others
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Regional Analysis:
North America: The North American region is one of the largest markets for smart plugs, due in part to the high adoption of smart home technology in the region. The region has a large number of tech-savvy consumers who are willing to invest in smart home devices like smart plugs. The United States is the largest market for smart plugs in North America, with Canada also experiencing significant growth.
Europe: Europe is another significant market for smart plugs, with countries such as the UK, Germany, France, and Italy experiencing strong growth. The market is being driven by increasing awareness of energy conservation and smart home technology, as well as government initiatives aimed at promoting energy-efficient homes.
Asia-Pacific: The Asia-Pacific region is expected to experience significant growth in the smart plug market due to the large population and increasing consumer awareness of energy conservation and smart home technology. China is the largest market for smart plugs in the region, with other countries such as Japan, South Korea, and India also experiencing strong growth.
Rest of the World: The rest of the world, including the Middle East, Africa, and South America, is expected to experience moderate growth in the smart plug market. The growth is being driven by increasing urbanization and rising disposable incomes in these regions.
Overall, the smart plug market is experiencing significant growth in all regions, with North America and Europe leading the way. The market is expected to continue to grow over the long term as smart home technology becomes more widespread and consumer awareness of energy conservation and home automation continues to increase.
Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
Business Model
Production Capacity, Revenue, Sales, Gross Margin
Key Business Strategy
SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
Company Share Analysis from 2018-2022
Company Analysis by Revenue and Sales
Company Production Capacity, Gross Margin
Company Share Analysis by Application/End Use
Company Share Analysis by Product/Specification
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Analytics Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
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