Smart Devices in households, rapid technological advancements expected to drive Smart Plug Market growth by 2028
Smart Plug Market Size – USD 4.92 Billion in 2020, Market Growth – at a CAGR 40.1%, Market Trends – Rising popularity of home automation systems
VANCOUVER, BC, CANADA, April 27, 2022 /EINPresswire.com/ — The Global Smart Plug Market covers a comprehensive overview of the Smart Plug market, future economic condition, competitive landscape mapping, supply and demand trends, and production and consumption analysis.
Smart plugs turn any device into smart device and are easy-to-use with seamless integration into home monitoring systems. Smart plugs connect to an app on the smartphones through Wi-Fi or Bluetooth connection and enables users to control appliances or devices that are connected to the plus while simultaneously reducing the need for separate smart hub. Smart plugs allows users to create scenes which are programs that can adjust lighting, coffee maker, washing machine, and other appliances based on the time of the day.
The market intelligence reports on Smart Plug market dives deep into aspects including but not limited to the market size, growth and share across different regions to keep the stakeholders and business owners informed and help them make a wise business decision. For data-savvy product owners, sophisticated business evangelists and information-focused filed marketing personnel, looking to incorporate qualitative figures into their fundamental perspective the report presents an unrivalled statistical data on both past and future industry trends.
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Wi-Fi Segment to Register Rapid Revenue Growth Rate:
Wi-Fi segment is expected to register rapid revenue CAGR over the forecast period attributable to increasing adoption of connected devices, growing popularity of smart homes, availability of high-speed Internet connectivity, and increasing utilization due to numerous advantages of Wi-Fi enabled smart plug such as energy monitoring, battery energy management, and improved user convenience.
Household Use Segment to Dominate Other Application Segments:
Household use segment is expected to dominate other segments in terms of revenue growth over the forecast period owing to growing awareness among consumers regarding energy usage, growing focus on reducing electricity bills and improving safety of homes, increasing adoption of smart home appliances, and installation of smart meters in residential buildings.
The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities,
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
Belkin International Inc.
Edimax Technology, Co. Ltd.
Lenovo Group Limited
Leviton Manufacturing Company
TP-Link Technologies Co., Ltd.
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Furthermore, the report divides the Smart Plug market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
For the purpose of this report, Emergen Research has segmented the global smart plug market on the basis of technology, application, and region:
Technology Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
North America (U.S.) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (Rest of LATAM)
The study delivers real answers for questions about market segmentation by types, region and application to power the overall market research for the forecast period. Subject matter experts behind the market analysis have collaborated with some of the highly acclaimed business owners to track records and estimate what is happening in areas such as technology innovation, production volume, end-use and product pricing. Research analysts have further remodeled their approach to present a report uniquely positioned to offer unmatched information on prominent manufactures, new entrants, exiting white spaces, acquisitions and mergers, collaborations and product launches.
Overview of the Smart Plug Market Report:
Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Strategic recommendations to established players as well as new entrants
In-depth analysis of the risks, restraints, and limitations in the Smart Plug industry
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