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.
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Rising consumer preference for smart homes.
Proliferation of smart devices.
This will be covered under the final version of the report.
In terms of technology, there are constant leaps and bounds.
Advancements in the IoT.
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.
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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.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
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
|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|
|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.
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
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
184.108.40.206 United Kingdom
220.127.116.11 South Korea
18.104.22.168 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
9. Global Smart Plug Market Segmentation, by application
10. Regional Analysis
10.2 North America
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4.2 South Korea
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.3 South Africa
10.6 Latin America
10.6.3 Rest of Latin America
11. Company Profiles
11.1 Panasonic Corporation
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.
11.8 Leviton Manufacturing Co., Inc.
11.9 Hangzhou BroadLink Technology Co.,Ltd
11.10 Etekcity Corporation.
12. Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
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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.
Step 2: Primary Research
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