Global Smart Plug Market 2023-2027

Global Smart Plug Market 2023-2027
The smart plug market is forecasted to grow by USD 7,487.13 mn during 2022-2027, accelerating at a CAGR of 29.7% during the forecast period. The report on the smart plug market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by use of connectivity as differentiating feature by manufacturers, need for energy efficiency among consumers, and growing demand for smart homes.

Technavio's smart plug market is segmented as below:

By End-userResidentialCommercialBy ConnectivityWi-FiBluetoothBy Geographical LandscapeNorth AmericaEuropeAPACMiddle East and AfricaSouth AmericaThis study identifies the promotion of smart plugs through trade exhibitions as one of the prime reasons driving the smart plug market growth during the next few years. Also, increasing development of smart cities and competition from built-in smart appliances will lead to sizable demand in the market.

The report on the smart plug market covers the following areas:Smart plug market sizingSmart plug market forecastSmart plug market industry analysisThe robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart plug market vendors that include 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.. Also, the smart plug market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.