Global Smart Plug Market was valued US$ 1.91 Bn in 2019 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Smart plugs are used to convert ordinary household appliances into smart appliances.
The major driving factors of global smart plug market is high demand for remote access to appliances, rapid adoption of home automation technologies, and changing consumer preferences inclining towards smart home applications. The growing need of consumers for a convenient lifestyle, improved energy savings, and advancements in the IoT framework is propelling the smart plug market. Additionally, use of connectivity as a differentiating feature by manufacturers, and the growing demand for energy-efficient appliances. Security concerns associated with smart plugs and IoT is major restring factor of global smart plugs market.
The smart plug market is segmented into type, application, and region. Further, smart plug market based on type includes Bluetooth and Wi-Fi. In terms of application segment, smart plug market is classified into household use, commercial use, and industrial use. Based on regions, the global smart plug market is divided into five main regions are America, Europe, Asia-pacific, Latin America and Middle East & Africa. In terms of type, Wi-Fi segment dominates the market due to smart plugs are easy to use and very affordable, starting at less than $30 per switch, anyone with a smartphone can get in on the convenience of smart home technology by using Wi-Fi.
In terms of geography, the Americas is one of the fastest growing regions in terms of global smart plug market and continue to grow during the forecasted period. Some of the major factors responsible for the growing adoption of smart plugs in the region is the high acceptance of technologically advanced products among customers and the average disposable income of the population.
Key companies in global Smart Plug Market include Belkin International Etekcity, EDIMAX Technology, Insteon, D-Link, BULL, Haier, SDI Technologies, Panasonic, TP-Link, Leviton, iSmartAlarm, and Broadlink.
The objective of the report is to present comprehensive analysis of Global Smart Plug Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Smart Plug Market dynamics, structure by analyzing the market segments, and project the Global Smart Plug Market size. Clear representation of competitive analysis of key players by Global Smart Plug Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Smart Plug Market make the report investor’s guide.
Scope of Global Smart Plug Market:
Global Smart Plug Market, by Type:
• Bluetooth
• WI-FI
Global Smart Plug Market, by Application:
• Household Use
• Commercial Use
• Industrial Use
Global Smart Plug Market, by Region:
• North America
• Europe
• Middle East & Africa
• Asia Pacific
• Latin America
Key players operated in Global Smart Plug Market:
• Belkin International
• Etekcity
• EDIMAX Technology
• Insteon
• D-Link
• BULL
• Haier
• SDI Technologies
• Panasonic
• TP-Link
• Leviton
• iSmartAlarm
• Broadlink
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