Smart Plug Market size to increase by USD 7.48 billion between 2022 to 2027| BroadLink, ConnectSense, D Link Corp. and more among key companies- Technavio

NEW YORK, Oct. 17, 2023 /PRNewswire/ -- The Smart Plug Market size is expected to grow by USD 7.48 billion, accelerating at a CAGR of  29.7% during the forecast period, according to Technavio's market analysis. The use of connectivity as a differentiating feature by manufacturers is notably driving the smart plug market. However, factors such as lack of technological awareness hindering mass adoption of smart plugs may impede market growth. We provide a detailed analysis of 20 companies operating in the smart plug market including  BroadLink, ConnectSense, D Link Corp., EDIMAX Technology Co. Ltd., Halonix Technologies Pvt Ltd., Havells India Ltd., Hon Hai Precision Industry Co. Ltd., Indiegogo Inc., Insteon Technologies LLC, ITEAD Intelligent Systems Co. Ltd., Lenovo Group Ltd., Leviton Manufacturing Co. Inc., Panasonic Holdings Corp., Revogi Innovation Co. Ltd., Satechi LLC, Syska Led Lights Pvt. Ltd., TP Link Corp. Ltd., Vesync Co. Ltd., Wipro Ltd., and Xiaomi Communications Co. Ltd. Buy the report now for detailed company information

Smart Plug Market 2023-2027: Company Analysis

BroadLink: The company offers smart plug such as BroadLink SP4D smart plug socket that supports both 2.4G and 5G dual band WiFi.

This report provides a full list of key companies, their strategies, and latest developments. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request FREE Sample Report

Smart Plug Market 2023-2027: Segmentation

End-user

• Residential
• Commercial

Connectivity

• Wi-Fi
• Bluetooth

Geography

• North America
• Europe
• APAC
• Middle East and Africa
• South America

The residential segment is anticipated to experience substantial growth during the forecast period. A prominent driver behind this expansion is the rising demand for smart appliances. The middle-class population is increasingly embracing smart plugs as a more affordable alternative to integrated smart appliances, which tend to be expensive. This shift towards smart plugs is a cost-effective choice for many consumers.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View FREE PDF Sample Report

Smart Plug Market 2023-2027: Geographical Analysis

North America is expected to play a substantial role, accounting for 31% of the global market's growth during the forecast period. A factor driving the expansion of the global smart plug market in North America is the increasing embrace of smart homes in the region. The United States, in particular, stands out as the primary North American country with the highest adoption of smart plugs.

Smart Plug Market 2023-2027: Key Highlights

• Historic Market Size 2017-2021
• CAGR of the market during 2023-2027
• Detailed information on factors that will assist smart plug market growth during the next five years
• Estimation of the smart plug market size and its contribution to the parent market
• Forecasts on upcoming trends and changes in consumer behavior
• The growth of the smart plug market
• Analysis of the competitive landscape and detailed information on companies
• Comprehensive details of factors that will impede the growth of smart plug market companies

Related Reports:

Automotive Aftermarket for Spark Plugs Market: The automotive aftermarket for spark plugs market size is estimated to grow at a CAGR of 1.85% between 2023 and 2028. The market size is forecast to increase by USD 136.57 million.

Solid Oxide Fuel Cells (SOFC) Market: The solid oxide fuel cells market size is forecast to increase by 191.34 MW and is estimated to grow at a CAGR of 19.46% between 2023 and 2027.

TOC:

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Sizes
5. Five Forces Analysis
6. Market Segmentation by End-User
7. Market Segmentation by Connectivity
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, & Trends
11. Company Landscape
12. Company Analysis
13. Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio