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Global Smart Plug Market Share, Size, Trends, Growth, Report: By Technology: Wi-Fi, Bluetooth, Others; By Application: Commercial, Industrial, Household; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Smart Plug Market Outlook
The global smart plug market size is expected to grow at a CAGR of 27.40% between 2024 and 2032, driven by the massive increase in their usage and the development of technology surging its convenience.
Key Trends in the Market
Smart plugs are electronical appliances which are loT based and can be used from anywhere in the home or building and connect directly into electrical sockets. These plugs are wireless and are more electricity efficient and run with the help of Wi-Fi and Bluetooth. The demand for smart plugs is expected to grow primarily as the customers preferences are changing. Technological advancements and increase in wireless connections are some of the factors contributing to the expanding reach of smart plugs in the global market.
- With the rapid increase in switching towards convenient appliances, and the ease of smart plugs that can also be controlled by voice commands and gestures, more appliances are being connected with smart plugs. Any wireless or wired appliance like lamps, lights, fans and more can be operated through these smart plugs, creating a larger market base. The ability to remotely control aspects such as colour of the lights and fan speed is also a great factor contributing to the demand for the smart plug market.
- Most electronical appliances can create dangerous situations when left unattended. Smart plugs are user friendly and increase safety of most electronical devices which can be hazardous if left unattended. Smart plugs come in very handy and can lower the risk of short circuit or malfunction as control is just a click away from smartphones.
- The smart plug market is growing rapidly due to their nature of being easy to install. Users can buy these plugs online and install them themselves in just minutes, and the smart plugs also come in different sizes and features according to the need of the customers.
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Market Analysis
Based on technology, the market is divided into Wi-Fi and Bluetooth, among others. On the basis of application, the market is segmented into industrial, commercial, and household. The regional markets for smart plugs are categorised into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global smart plug market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- D-Link Corporation
- Panasonic Corporation
- EDIMAX Technology Co., Ltd.
- Leviton Manufacturing Co., Inc.
- TP-Link Corporation Limited.
- Xiaomi Group
- Satechi
- Lenovo
- Belkin International, Inc.
- Meross Technology Limited
- Others
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Market Share by Technology
As more users are switching towards the internet, Wi-Fi technology for smart plugs is witnessing steady growth in the smart plug market. Users often prefer Wi-Fi as they are more familiar with using the internet, Wi-Fi has a wider range, and can be instantly connected. They find convenience as Wi-Fi creates a more accessible and easier way for the users to access appliances connected to the smart plugs in their home, office, and other areas. Using the internet, these plugs are also often compatible with voice assistants like Alexa, Google Assistant and Siri and can be connected to these devices easily.
Market Share by Application
Household applications of smart plugs account for a sizable share of the smart plug market as they are easy to use, household friendly, and provide comfort as well as reduce electricity bills. They are easily accessible, are hassle free, and easy to install. Users can remotely turn on and off their household appliances even when they are on vacation making smart plugs a preferable choice. Smart plugs have the ability to eliminate chances of overheating and can be effectual to manage time as users can schedule their appliances automatically.
In recent years, the demand for the smart plug market has elevated as more users are switching towards these plugs. Not only do they provide easy access with smartphones, they are furthermore cost effective and eliminate standby power consumption by letting the user identify the energy that is being wasted.
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Competitive Landscape
D-Link Corporation is a global leader which provides connectivity and networking products. Founded in 1987 and headquartered in Taipei, Taiwan, D-Link produces devices like Wi-fi routers, smart home appliances, IP cameras and more. Providing products with high efficiency and at affordable rates to their consumers, the company caters to homes, businesses, and service providers.
Panasonic Corporation is an electronics manufacturing company which was established in 1918 with headquarters in Osaka, Japan. Panasonic offers a wide range of electronical appliances as well as other services like rechargeable batteries and industrial systems that are also used in automotives and construction. For its smart plugs, Panasonic also has a fully compatible built-in app.
Leviton Manufacturing Co. Inc., based in New York, United States, and founded in 1906 is a global provider of electrical wiring equipment and electronics, manufacturing a vast range of products like switches, dimmers, lamp holder, smart home, plugs, room controllers, and panels. Leviton also offers energy management systems with security and automated appliances.
Other market players include EDIMAX Technology Co., Ltd., TP-Link Corporation Limited., Xiaomi Group, Lenovo, Satechi, Belkin International, Inc., and Meross Technology Limited, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Technology |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Smart Plug Market Analysis
8.1 Key Industry Highlights
8.2 Global Smart Plug Historical Market (2018-2023)
8.3 Global Smart Plug Market Forecast (2024-2032)
8.4 Global Smart Plug Market by Technology
8.4.1 Wi-Fi
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Bluetooth
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Others
8.5 Global Smart Plug Market by Application
8.5.1 Commercial
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Industrial
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Household
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.6 Global Smart Plug Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
9 North America Smart Plug Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Smart Plug Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Smart Plug Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Smart Plug Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Smart Plug Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 D-Link Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Panasonic Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 EDIMAX Technology Co., Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Leviton Manufacturing Co., Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 TP-Link Corporation Limited.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Xiaomi Group
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Satechi
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Lenovo
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Belkin International, Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Meross Technology Limited
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Smart Plug Market: Key Industry Highlights, 2018 and 2032
2. Global Smart Plug Historical Market: Breakup by Technology (USD Million), 2018-2023
3. Global Smart Plug Market Forecast: Breakup by Technology (USD Million), 2024-2032
4. Global Smart Plug Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Smart Plug Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Smart Plug Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Smart Plug Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Smart Plug Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Smart Plug Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Smart Plug Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Smart Plug Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Smart Plug Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Smart Plug Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Smart Plug Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Smart Plug Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Smart Plug Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Smart Plug Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Smart Plug Market Structure
Key Questions Answered in the Report
The market for smart plugs is expected to grow at a CAGR of 27.40% between 2024 and 2032.
Some of the major factors driving the market for smart plugs is the support for automation of technology, easy accessibility, change in customer preference, and energy savings facilitated by smart plugs.
The key trends in the market for smart plugs include compatibility with virtual assistance, customisable features, and availability of appliances and lights with changing features and connectivity capabilities.
Yes, smart plugs save energy more than other plugs.
Smart plugs are available with varying compatibilities, including Bluetooth and Wi-Fi.
The major regional markets for smart plugs are North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
The primary applications of smart plugs are commercial, industrial, and household.
Yes, smart plug are available with built-in child locks which ensures that children are safe.
A smart plug is a compact Wi-Fi/Bluetooth enabled plug that can be attached to a regular wall outlet and can connect directly to devices such as smartphones for easier management of appliances connected through the plug.
Panasonic Corporation, D- Link Corporation, Leviton Manufacturing Co, Inc., Belkin International Inc., EDIMAX Technology Co., Ltd., TP-Link Corporation Limited., Xiaomi Group, Satechi, Lenovo, and Meross Technology Limited, among others, are the key players in the global smart plug market, according to the report.
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