Smart Plug Market to grow by almost $ 14 Billion during 2021-2025 | Technavio
NEW YORK, June 10, 2021 /PRNewswire/ -Technavio has been monitoring the smart plug market and it is poised to grow by USD 13.99 billion during 2020-2024, progressing at a CAGR of almost 30% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Frequently Asked Questions:
- Based on segmentation by technology, which is the leading segment in the market?
Based on the technology, the market witnessed maximum growth in the early majority segment in 2019.
- What are the major trends in the market?
The increasing demand for smart homes and the development of smart cities is the major trend in the market.
- At what rate is the market projected to grow?
The market is projected to grow at a CAGR of almost 30% during the forecast period.
- Who are the top players in the market?
Belkin International Inc., D-Link Corp., EDIMAX Technology Co. Ltd., Etekcity Corp., Insteon, iSmart Alarm Inc., Leviton Manufacturing Co. Inc., Panasonic Corp., SDI Technologies Inc., and TP-Link Technologies Co. Ltd. are the top players in the market.
- What is the key market driver?
The market is driven by the high demand for remote access to appliances.
- How big is the North American market?
North America dominated the market with a 33% share in 2019.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Belkin International Inc., D-Link Corp., EDIMAX Technology Co. Ltd., Etekcity Corp., Insteon, iSmart Alarm Inc., Leviton Manufacturing Co. Inc., Panasonic Corp., SDI Technologies Inc., and TP-Link Technologies Co. Ltd. are some of the major market participants. The high demand for remote access to appliances will offer immense growth opportunities for the market vendors. In a bid to help players strengthen their market foothold, this smart plug market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Smart Plug Market 2020-2024: Segmentation
Smart Plug Market is segmented as below:
- Early Majority
- Early Adopters
- North America
- South America
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Smart Plug Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The smart plug market report covers the following areas:
- Smart Plug Market Size
- Smart Plug Market Trends
- Smart Plug Market Industry Analysis
This study identifies the increasing demand for smart homes and the development of smart cities as one of the prime reasons driving the Smart Plug Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Smart Plug Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist smart plug market growth during the next five years
- Estimation of the smart plug market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the smart plug market across North America, Europe, APAC, MEA, and South America
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of smart plug market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Technology
- Market segments
- Comparison by Technology
- Early majority – Market size and forecast 2019-2024
- Innovator – Market size and forecast 2019-2024
- Early adopters – Market size and forecast 2019-2024
- Market opportunity by Technology
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Residential – Market size and forecast 2019-2024
- Commercial – Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Belkin International Inc.
- D-Link Corp.
- EDIMAX Technology Co. Ltd.
- Etekcity Corp.
- iSmart Alarm Inc.
- Leviton Manufacturing Co. Inc.
- Panasonic Corp.
- SDI Technologies Inc.
- TP-Link Technologies Co. Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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