By providing reliable market research information, smart plug market report extends reach to the success in the business. This industry report is very helpful to all sizes of business which makes it simpler to take informed decisions in providing the different aspect of semiconductors and electronics industry. The global market report contains all the company profiles of the major players and brands. Thoroughly analyzed market segmentation aspect provides a clear idea about the product consumption based on several factors ranging from type, application, deployment model, end user to geographical region. The worldwide smart plug market report delivers an in depth study with present and upcoming opportunities to clarify the future investment in the market.
The reliable smart plug market report highlights CAGR value fluctuation during the forecast period of 2022-2029, historic data, current market trends, market environment, technological innovation, upcoming technologies and the technical progress in the related industry. With this market report it becomes easy to uncover the best market opportunities and foster resourceful information for the business to thrive in the market. smart plug market research report is comprehensive and takes into account various parameters of the market that can be listed as market definition, currency and pricing, market segmentation, market overview, premium insights, key insights and company profile of the key market players.
Data Bridge Market Research analyses that the smart plug market was valued at USD 1.76 billion in 2021 and is expected to reach USD 22.03 billion by 2029, registering a CAGR of 37.15% during the forecast period of 2022 to 2029.
Definition
A smart plug is device which plugs into the socket which is placed on wall and with another socket to plug an electrical appliance into. At their most simple, smart plugs offer the consumer to turn the devices on and off from the smartphone
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Increasing demand of Wi-Fi smart plug
The rising popularity of the smart homes encourage the demand of Wi-Fi smart plugs are one of the most impactful devices which is available in smart homes. Wi-Fi products provide suitability to the consumers by saving money and time and provide peace of mind to buyers. These Wi-Fi products take voice commands through Siri, Alexa and Google Assistant, thus this is expected to drive the growth of the smart plug market.
Technological advancement
The rising demand of Advances wireless technology have also empowered the ability the market. Now, Countries are using innovative Internet of Things (IoT) solutions, such as contact tracing applications. These use a variety of technologies, including WiFi and Sigfox, Bluetooth Low Energy (BLE) incorporated into bracelets, bands, and other consumer wireless devices.
Furthermore, the substantial boosting the determinants of smart plug business is a high need for the distant approach to instruments, shifting customer inclinations tending and accelerated enactment of residence mechanization technologies to approach smart home purposes. The burgeoning requirement of consumers for an enhanced power economies, comfortable lifestyle and developments in the internet of things (IoT) structure are thrusting the smart plug market
The report emphasizes the participation of key entities, notably:
- Ashtead Group plc. (U.K.)
- Belkin International, Inc. (U.S.)
- D-Link Corporation (Taiwan)
- Panasonic Corporation (Japan)
- EDIMAX Technology Co. Ltd. (Taiwan)
- Etekcity Corporation (U.S.)
- Insteon (U.S.)
- Leviton Manufacturing Co., Inc. (U.S.)
- SDI Technologies, Inc. (U.S.)
- TP-Link Corporation Limited (China)
- Xiaomi (China)
- Ankuoo Electronics inc. (China)
- Satechi (U.S.)
- Lenovo (China)
Report Objective:
- Investigate the smart plug market, focusing on strategic movements like collaborations, agreements, mergers, and product launches.
- Explore market diversification avenues such as new products, unexplored regions, recent advancements, and investments in smart plug market.
- Streamline initial research efforts by identifying smart plug market growth, size, key players, and segments, saving valuable time.
- Highlight pivotal industry trends in the smart plug market to empower players in devising effective, sustainable strategies.
- Analyze micro markets for their individual growth trajectories, potential, and contributions to the overall market.
- Shape or refine business expansion strategies leveraging growth opportunities in both established and emerging markets.
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Key Market Segmentation
By Type (Bluetooth, Wi-Fi), Application (Household Use, Commercial Use, Industrial Use)
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