Smart Wiring Devices Market Growth Probability, Leading Vendors and Future Scenario By 2024-2031
Smart wiring devices market is anticipated to grow at a CAGR of 12.4% during the forecast period (2023-2030). The market's growth is attributed to demand for simplified solutions. Decora Edge addresses the market's demand for simpler and more user-friendly installation methods, reducing complexity and time in electrical installations. For instance, in January 2023, Leviton introduced its Decora Edge line of wiring devices a faster, easier and safer way to install electrical devices for the home. In comparison to traditional switches and outlets, Decora Edge simplifies installation by allowing users to simply push stripped 14-gauge or 12-gauge electrical building wire into a termination port and close a lever that clicks into place, safely terminating the connection.Get Free Sample link @ https://www.omrglobal.com/request-sample/smart-wiring-devices-market
The global smart wiring devices market is segmented on the product, and end-user. Based on the product, the market is sub-segmented into smart switches, smart dimmers, smart thermostats, smart outlets/plugs, and others. Furthermore, on the basis of end-user, the market is sub-segmented into residential sector, commercial buildings, industrial sector, government and public infrastructure, and others. The smart switches subcategory is expected to capture a significant portion of the market share within the product type segment. This is attributed to the use of smart switches has the advantage of providing centralized network management, that can improve performance and security. The growth can be attributed to the growing acceptance of IoT-based home automation solutions in addition to the penetration of the electrical infrastructure.
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Market Coverage
Market number available for - 2024-2030
Base year- 2023
Forecast period- 2024-2030
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others
Global Smart Wiring Devices Market Report Segment
By Product Type
Smart Switches
Smart Dimmers
Smart Thermostats
Smart Outlets/Plugs
Others (Smart Panels/Distribution Boards, and Smart Circuit Breakers)
By End-User
Residential Sector
Commercial Buildings
Industrial Sector
Government and Public Infrastructure
Others (Healthcare Facilities, and Educational Institutions)
The Report Covers
Market value data analysis of 2022 and forecast to 2030.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global smart wiring devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies. Competitive strategies by identifying 'who-stands-where' in the market.
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Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
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