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Report Scope & Overview:

Smart Plug Market Size was valued at USD 14.41 billion in 2022 and is expected to reach USD 256.33 billion by 2030, and grow at a CAGR of 43.3% over the forecast period 2023-2030.

Smart plugs' market power has been bolstered by the fast adoption of a wide range of smart home and other intelligent technology and equipment. The rising adoption of home automation and technology tools is also propelling the smart plugs market forward internationally. Manufacturers and competitors in the worldwide smart plug market offer goods that employ a variety of technologies, including original designers, pre-existing, and founder. Wi-Fi-enabled smart plugs and Bluetooth-enabled smart plugs are two popular types of products offered by manufacturers and players in the worldwide smart plugs market. In the global market for smart plugs, these goods and solutions are utilised for industrial, commercial, and home purposes.

Smart Plug Market Revenue Analysis

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MARKET DYNAMICS: 

KEY DRIVERS:

  • Rising consumer preference for smart homes.

  • Proliferation of smart devices.

RESTRAINTS: 

  • This will be covered under the final version of the report.

OPPORTUNITIES: 

  • In terms of technology, there are constant leaps and bounds.

  • Advancements in the IoT.

CHALLENGES: 

  • This will be covered under the final version of the report.

IMPACT OF COVID-19: 

Smart plugs are regarded to be energy efficient, save consumers time with automated activities, and improve security since the advent of COVID-19. Consumers are exhibiting enthusiasm for technology as smart plugs respond to voice requests, eliminating frequent manual tasks such as utilising a voice remote control to operate all gadgets rather than multiple remote controllers.

MARKET SEGMENTATION:

By Type:

  • WiFi

  • Bluetooth

By Application:

  • Industrial

  • Household

  • Commercial

  • Other

Smart Plug Market Segmentation Analysis

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REGIONAL ANALYSIS:

Due to presence of significant industry competitors and the rapid adoption of emerging automotive technologies, the North American smart plugs market is likely to have the biggest market share. However, growing Asia Pacific economies such as India, Japan, and China are expected to rise significantly during the predicted period. This could be attributed to the rise of the middle class, shifting consumer preferences, and the increasing need for digital solutions and services. Due to the vast number of vendors investing in R&D efforts to develop automated home solutions, the global smart plug market is extremely competitive and diverse, and offers thousands of products that encourage market growth.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The top players in the Global Smart Plug Market are examined in this analysis, including their company strategy, financial status, and future products. Some key participants include: D-Link Corporation, Panasonic Corporation, SDI Technologies Inc., TP-Link Corporation Limited., EDIMAX Technology, Belkin International, Inc., Insteon, Leviton Manufacturing Co., Inc., Hangzhou BroadLink Technology Co.,Ltd, Etekcity Corporation and Other.

Panasonic Corporation-Company Financial Analysis

Smart Plug Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 10.06 Billion
Market Size by 2028 US$ 124.85 Billion
CAGR CAGR of 43.3% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (WiFi, Bluetooth)
• By Application (Industrial, Household, Commercial, Other)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles D-Link Corporation, Panasonic Corporation, SDI Technologies Inc., TP-Link Corporation Limited., EDIMAX Technology, Belkin International, Inc., Insteon, Leviton Manufacturing Co., Inc., Hangzhou BroadLink Technology Co.,Ltd, Etekcity Corporation and Other.
Key Drivers • Rising consumer preference for smart homes.
• Proliferation of smart devices.
OPPORTUNITIES • In terms of technology, there are constant leaps and bounds.
• Advancements in the IoT.

Frequently Asked Questions

The Smart Plug Market size was valued at 10 billion in 2021 at a CAGR of 43.3%.

The top players in the Smart Plug Market are examined in this analysis, including their company strategy, financial status, and future products. Some key participants include: D-Link Corporation, Panasonic Corporation, SDI Technologies Inc., TP-Link Corporation Limited., EDIMAX Technology, Belkin International, Inc., Insteon, Leviton Manufacturing Co., Inc., Hangzhou BroadLink Technology Co.,Ltd, Etekcity Corporation and Other.

Rising consumer preference for smart homes and Proliferation of smart devices are the drivers of the Smart Plug Market.

Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.

 

Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.

Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Global Smart Plug Market Segmentation, by type

8.1Introduction

8.2 WiFi

8.3 Bluetooth

 

9. Global Smart Plug Market Segmentation, by application

9.1 Introduction

9.2 Industrial

9.3 Household

9.4 Commercial

9.5 Other

 

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2    Canada

10.2.3    Mexico

10.3        Europe

10.3.1    Germany

10.3.2    UK

10.3.3    France

10.3.4    Italy

10.3.5    Spain

10.3.6    The Netherlands

10.3.7    Rest of Europe

10.4        Asia-Pacific

10.4.1    Japan

10.4.2    South Korea

10.4.3    China

10.4.4    India

10.4.5    Australia

10.4.6    Rest of Asia-Pacific

10.5        The Middle East & Africa

10.5.1    Israel

10.5.2    UAE

10.5.3    South Africa

10.5.4    Rest

10.6        Latin America

10.6.1    Brazil

10.6.2    Argentina

10.6.3    Rest of Latin America

 

11. Company Profiles

11.1 Panasonic Corporation

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 D-Link Corporation

11.3 SDI Technologies Inc.

11.4 TP-Link Corporation Limited.

11.5 EDIMAX Technology

11.6 Belkin International, Inc.

11.7 Insteon

11.8 Leviton Manufacturing Co., Inc.

11.9 Hangzhou BroadLink Technology Co.,Ltd

11.10 Etekcity Corporation.

11.11 Other

 

12. Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share analysis

12.3 Recent Developments

 

13. Conclusion

 

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

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