Smart Plug Market Size – USD 4.92 Billion in 2020, Market Growth – at a CAGR of 40.1%, Market Trends – Growing 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 situation, competitive landscape mapping, supply & demand trends, and production & consumption analysis.
Smart plugs turn any device into a smart device and are easy to use with seamless integration into home monitoring systems. Smart plugs connect to an app on smartphones via Wi-Fi or Bluetooth and allow users to control connected devices or devices at most while simultaneously reducing the need for a separate smart hub. Smart plugs allow users to create scenes which are schedules that can adjust lighting, coffee maker, washing machine and other appliances based on the time of day.
The market intelligence reports of the Smart Plug market dive deep into aspects such as but not limited to market size, growth, and share across different regions to hold stakeholders and business owners informed business and help them make a sound business decision. For data-savvy product owners, sophisticated business evangelists, and information-driven marketing personnel looking to incorporate qualitative numbers into their fundamental perspective, the report presents unparalleled statistical data on past and future trends in industry.
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Wi-Fi segment to record rapid revenue growth rate:
The Wi-Fi segment is expected to register a rapid revenue CAGR during the forecast period, owing to the growing adoption of connected devices, growing popularity of smart homes, availability of high-speed internet connectivity and increasing use due to the many benefits of Wi-Fi enabled smart technology such as energy monitoring, battery power management and improved user convenience.
Home Use Segment to Dominate Other Application Segments:
The home use segment is expected to lead the other segments in terms of revenue growth over the forecast period owing to growing consumer awareness of energy usage, increasing focus on reduction in electricity bills and improved home security, increasing adoption of smart home appliances and installation of smart meters in residential buildings.
The report covers key points of the market including standards, regulations and policy changes applied by the government on the industry for the coming years. The report encompasses in-depth research conducted through the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to identify trends and growth patterns. Factors likely to influence market growth, 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, product launches and brand promotions, among others. .
Leading 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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Further, the report divides the Smart Plug market into key segments and sub-segments to offer an analysis of product type and industry application spectrum. It also offers predictions on which segments are expected to show significant growth over the forecast period.
For the purposes of this report, Emergen Research has segmented the global smart plug market based on 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 (United States) (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 provides real answers to questions about market segmentation by types, regions and applications to power the overall market research for the forecast period. The subject matter experts behind the market analysis have worked with some of the most reputable business owners to track records and estimate what is happening in areas such as technological innovation, volume of production, end use and pricing of products. Research analysts have further reshaped their approach to present a report uniquely positioned to offer unparalleled insights on major manufacturers, new entrants, outgoing white spaces, acquisitions and mergers, collaborations, and product launches.
Smart Plug Market Report Overview:
Introduction, Product Scope, Market Overview and Opportunities
Manufacturers Analysis with Sales, Revenue and Price Analysis
Complete analysis of the competitive landscape
Detailed profiling of 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 of the Smart Plug industry
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