The Global smart plug market is expected to reach USD 99.84 billion by 2030, at a CAGR of 38.60% from 2022 to 2030. Smart plug market growth would be driven by the increasing adoption of smart devices across household & commercial applications, the rising rate of technology adoption, and the higher standard of living of individuals contribute to market development.
The smart plug market will notice growth mainly due to the quick adoption of home automation technologies and changing consumer choices toward smart home applications. The increasing demand of people for enhanced energy savings, a suitable lifestyle, and advancements in the IoT (Internet of things) framework will support the smart plug market. Smart plugs are achieving popularity and delivering several advantages like remote monitoring, remote control, and other features permitting comfort and expense savings for the customer. It provides easy access through an application, which successively will allow functionalities even when individuals are not in the area to function the switch manually. With these automated triggers, the security of a home system could be improved, by monitoring home appliances, for example, television, cable box, coffee machine, air conditioners, lamps, and fans, among others. Smart plugs allow the user to control the devices using a mobile phone application remotely. It enables turning appliances on and off; when a smart plug is linked to a smart home, its applications become versatile. With the benefit of smart plugs, a user can transform any home appliance, such as a television, Alexa, google home, fan, and air conditioner, into a smart device allowing smart features controllable from mobile devices. A transformation in customer choices against operating smart home appliances, associated with the technical developments by leading players in the market, is anticipated to have a good effect on the market expansion. In the last few years, the shifting choice toward a comfortable lifestyle, improved awareness about power saving, and advances in the Internet of things (IoT) have paved the way for remotely managed appliances, including smart plugs.
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The increasing consumer choice for smart homes is one of the vital driving factors influencing the expansion of the global smart plugs market. Similarly, the endless bounds in technologies also provide critical players in the global smart plugs market with exciting opportunities to create new and creative products. The trend will also likely affect the future expansion of the global smart plugs market. Further, the growth of smart devices, such as smart personal assistants, and development in smart city projects are also rapidly pushing the transformation within the global smart plugs market.
Rising online sales have been a powerful accelerator in smart plug sales. However, product delivery delays can affect smart plugs' sales and market development. Although smart plugs are not costly, they are still considered an additional cost to invest among customers. There is another need for configuration and setups, wires, and plugs in some smart plugs. It can affect the market development of smart plugs during the projection time.
The smart-home ecosystem persists in accelerating growth, but market development rates are directly related to the speed of 5-G implementation. Current IoT (Internet of things) investments by Amazon, Google, Apple, and Alibaba have changed the geography, gave companies prospects and forcing market strengthening. Acknowledging the current average user penetration, long product substitute cycles, and improving device connectivity, the adoption of smart plugs will enhance in the future.
The global smart plug market has been segmented based on technology, application, and regions.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global smart plug market, with a 34.5% share of the market revenue in 2021.
North America Region Smart Plug Market Share in 2021 - 34.5%
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The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global smart plug industry.
In October 2020, the connected home division within Belkin International and Foxconn Interconnect Technology, named Wemo, established the Wi-Fi Outdoor Smart Plug at the Pepcom Holiday Spectacular virtual event. The latest product controls holiday decorations, lights, and other outdoor appliances. It also operates with Apple Homekit, Amazon Alexa, and Hey Google and delivers easy integration into the smart home ecosystem for easy whole-home control.
As per The Brainy Insights, the size of the smart plug market was valued at USD 5.29 billion in 2021 to USD 99.84 billion by 2030.
Global smart plug market is growing at a CAGR of 38.60% during the forecast period 2022-2030.
The global smart plug market has been segmented based on technology, application, and regions. The Wi-Fi signal segment led the market in 2021. The household segment led the market in 2021.
North America region emerged as the largest market for the smart plug market.
The market's growth will be influenced by the increasing customer choice for smart homes to propel market growth.
The need for setups and configuration of smart device to hinder market growth.
Technological advancements will provide huge opportunities to the market.
Key players are Xiaomi Corporation, TP-Link Technologies Co., Ltd., Satechi Inc., Panasonic Corporation, Leviton Manufacturing Company, Lenovo Group Limited, iHome Inc., Etekcity Corporation, Edimax Technology Co., Ltd., and Belkin International Inc
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Technology
4.3.2. Market Attractiveness Analysis by Application
4.3.3. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2.1. Increasing customer choice for smart homes
5.3.1. The need for setups and configuration of smart device
5.4.1. Technological advancements
6. Global Smart Plug Market Analysis and Forecast, By Technology:
6.1. Segment Overview
7. Global Smart Plug Market Analysis and Forecast, By Application
7.1. Segment Overview
8. Global Smart Plug Market Analysis and Forecast, By Regional Analysis
8.1. Segment Overview
8.2. North America
8.5. South America
8.6. Middle East and Africa
8.6.2. South Africa
9. Global Smart Plug Market-Competitive Landscape
9.2. Market Share of Key Players in the Smart Plug Market
9.2.1. Global Company Market Share
9.2.2. North America Company Market Share
9.2.3. Europe Company Market Share
9.2.4. APAC Company Market Share
9.3. Competitive Situations and Trends
9.3.1. Product Launches and Developments
9.3.2. Partnerships, Collaborations, and Agreements
9.3.3. Mergers & Acquisitions
10. Company Profiles
10.1. Xiaomi Corporation
10.1.1. Business Overview
10.1.2. Company Snapshot
10.1.3. Company Market Share Analysis
10.1.4. Company Product Portfolio
10.1.5. Recent Developments
10.1.6. SWOT Analysis
10.2. TP-Link Technologies Co., Ltd
10.2.1. Business Overview
10.2.2. Company Snapshot
10.2.3. Company Market Share Analysis
10.2.4. Company Product Portfolio
10.2.5. Recent Developments
10.2.6. SWOT Analysis
10.3. Satechi Inc.
10.3.1. Business Overview
10.3.2. Company Snapshot
10.3.3. Company Market Share Analysis
10.3.4. Company Product Portfolio
10.3.5. Recent Developments
10.3.6. SWOT Analysis
10.4. Panasonic Corporation
10.4.1. Business Overview
10.4.2. Company Snapshot
10.4.3. Company Market Share Analysis
10.4.4. Company Product Portfolio
10.4.5. Recent Developments
10.4.6. SWOT Analysis
10.5. Leviton Manufacturing Company.
10.5.1. Business Overview
10.5.2. Company Snapshot
10.5.3. Company Market Share Analysis
10.5.4. Company Product Portfolio
10.5.5. Recent Developments
10.5.6. SWOT Analysis
10.6. Lenovo Group Limited
10.6.1. Business Overview
10.6.2. Company Snapshot
10.6.3. Company Market Share Analysis
10.6.4. Company Product Portfolio
10.6.5. Recent Developments
10.6.6. SWOT Analysis
10.7. iHome Inc.
10.7.1. Business Overview
10.7.2. Company Snapshot
10.7.3. Company Market Share Analysis
10.7.4. Company Product Portfolio
10.7.5. Recent Developments
10.7.6. SWOT Analysis
10.8. Etekcity Corporation.
10.8.1. Business Overview
10.8.2. Company Snapshot
10.8.3. Company Market Share Analysis
10.8.4. Company Product Portfolio
10.8.5. Recent Developments
10.8.6. SWOT Analysis
10.9. Edimax Technology Co., Ltd.
10.9.1. Business Overview
10.9.2. Company Snapshot
10.9.3. Company Market Share Analysis
10.9.4. Company Product Portfolio
10.9.5. Recent Developments
10.9.6. SWOT Analysis
10.10. Belkin International Inc.
10.10.1. Business Overview
10.10.2. Company Snapshot
10.10.3. Company Market Share Analysis
10.10.4. Company Product Portfolio
10.10.5. Recent Developments
10.10.6. SWOT Analysis
List of Table
1. Global Smart Plug Market, By Technology, 2019-2030 (USD Billion)
2. Global Bluetooth Smart Plug Market, By Region, 2019-2030 (USD Billion)
3. Global Wi-Fi Smart Plug Market, By Region, 2019-2030 (USD Billion)
4. Global Smart Plug Market, By Application, 2019-2030 (USD Billion)
5. Global Household Smart Plug Market, By Region, 2019-2030 (USD Billion)
6. Global Commercial Smart Plug Market, By Region, 2019-2030 (USD Billion)
7. Global Industrial Smart Plug Market, By Region, 2019-2030 (USD Billion)
8. North America Smart Plug Market, By Technology, 2019-2030 (USD Billion)
9. North America Smart Plug Market, By Application, 2019-2030 (USD Billion)
10. U.S. Smart Plug Market, By Technology, 2019-2030 (USD Billion)
11. U.S. Smart Plug Market, By Application, 2019-2030 (USD Billion)
12. Canada Smart Plug Market, By Technology, 2019-2030 (USD Billion)
13. Canada Smart Plug Market, By Application, 2019-2030 (USD Billion)
14. Mexico Smart Plug Market, By Technology, 2019-2030 (USD Billion)
15. Mexico Smart Plug Market, By Application, 2019-2030 (USD Billion)
16. Europe Smart Plug Market, By Technology, 2019-2030 (USD Billion)
17. Europe Smart Plug Market, By Application, 2019-2030 (USD Billion)
18. Germany Smart Plug Market, By Technology, 2019-2030 (USD Billion)
19. Germany Smart Plug Market, By Application, 2019-2030 (USD Billion)
20. France Smart Plug Market, By Technology 2019-2030 (USD Billion)
21. France Smart Plug Market, By Application, 2019-2030 (USD Billion)
22. U.K. Smart Plug Market, By Technology, 2019-2030 (USD Billion)
23. U.K. Smart Plug Market, By Application, 2019-2030 (USD Billion)
24. Italy Smart Plug Market, By Technology, 2019-2030 (USD Billion)
25. Italy Smart Plug Market, By Application, 2019-2030 (USD Billion)
26. Spain Smart Plug Market, By Technology, 2019-2030 (USD Billion)
27. Spain Smart Plug Market, By Application, 2019-2030 (USD Billion)
28. Asia Pacific Smart Plug Market, By Technology, 2019-2030 (USD Billion)
29. Asia Pacific Smart Plug Market, By Application, 2019-2030 (USD Billion)
30. Japan Smart Plug Market, By Technology, 2019-2030 (USD Billion)
31. Japan Smart Plug Market, By Application, 2019-2030 (USD Billion)
32. China Smart Plug Market, By Technology 2019-2030 (USD Billion)
33. China Smart Plug Market, By Application, 2019-2030 (USD Billion)
34. India Smart Plug Market, By Technology 2019-2030 (USD Billion)
35. India Smart Plug Market, By Application, 2019-2030 (USD Billion)
36. South America Smart Plug Market, By Technology, 2019-2030 (USD Billion)
37. South America Smart Plug Market, By Application, 2019-2030 (USD Billion)
38. Brazil Smart Plug Market, By Technology 2019-2030 (USD Billion)
39. Brazil Smart Plug Market, By Application, 2019-2030 (USD Billion)
40. Middle East and Africa Smart Plug Market, By Technology, 2019-2030 (USD Billion)
41. Middle East and Africa Smart Plug Market, By Application, 2019-2030 (USD Billion)
42. UAE Smart Plug Market, By Technology, 2019-2030 (USD Billion)
43. UAE Smart Plug Market, By Application, 2019-2030 (USD Billion)
44. South Africa Smart Plug Market, By Technology 2019-2030 (USD Billion)
45. South Africa Smart Plug Market, By Application, 2019-2030 (USD Billion)
List of Figures
1. Global Smart Plug Market Segmentation
2. Smart Plug Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Smart Plug Market Attractiveness Analysis by Technology
9. Global Smart Plug Market Attractiveness Analysis by Application
10. Global Smart Plug Market Attractiveness Analysis by Region
11. Global Smart Plug Market: Dynamics
12. Global Smart Plug Market Share by Technology (2022 & 2030)
13. Global Smart Plug Market Share by Application (2022 & 2030)
14. Global Smart Plug Market Share by Regions (2022 & 2030)
15. Global Smart Plug Market Share by Company (2021)
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global smart plug market based on below mentioned segments:
Global Smart Plug Market by Technology:
Global Smart Plug Market by Application:
Global Smart Plug Market by Region:
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