Smart Plug Market Growth and Demand by Regions till 2028

Felton, California , USA, Oct 26 2021 — /EPR Network/ — Global “Smart Plug Market” report offers an overview of the market size, share, trends, drivers, and barriers with respect to the Smart Plug Industry. Latest report on the global Smart Plug market is a compilation of key market insights and discusses key market dynamics such as drivers, restraints, and opportunities at length. It also provides a comprehensive overview of the market of different regions across North America, Europe, Asia Pacific, South America, Africa and Others.


The Smart Plug Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.


Significant Features that are under Offering and Key Highlights of the Reports:

  • Detailed overview of Smart Plug Market
  • Changing market dynamics of the Smart Plug industry
  • In-depth market segmentation by Type, Application etc
  • Historical, current and projected market size in terms of volume and value
  • Recent Smart Plug Smart Plug industry trends and developments
  • Competitive landscape of Smart Plug Market
  • Strategies of key players and product offerings


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Smart Plug Market Growth & Trends

The global smart plug market size is expected to reach USD 20.84 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 36.2% from 2021 to 2028. The rising popularity of smart homes, technological innovation in home automation, and consumers’ inclination toward a digitally comfortable lifestyle are expected to drive the market. Smart plug is gaining popularity as it offers several benefits such as monitoring and operating home appliances remotely and energy monitoring of individual devices, thus resulting in energy and cost savings. Technological advancement in the internet of things (IoT), innovative product launches, growing investment from major market players, and consumers’ willingness to buy smart home applications are expected to fuel the expansion of the market globally.


Consumers’ shift toward a comfortable lifestyle, increased awareness regarding energy savings, and advancement in the IoT framework are some of the factors that helped promote the use of smart plug remotely. These products help to reduce manual efforts and archive home automation by controlling devices like washing machines, TV, fridge, air conditioners, and security system through mobile applications remotely.


This product acts as a mediator between the power plug and any appliances per the consumers’ wish to plugin. At the basic level, it turns the device on and off, but when it is connected to the smart home platform, it becomes a very effective device. Home devices connected to smart plugs can control remotely through mobile devices and monitor energy consumption, leading to power saving and cost reduction.


The COVID-19 pandemic led the world to operate or function digitally, and smart plug is considered to be energy efficient as it saves the time of consumers by digitally automated tasks. COVID-19 brought a financial crisis, which led to the increased price sensitivity among the low- and middle-income consumer groups. This is increasing the adoption of smart plugs as they are low-cost and energy monitoring devices that help the consumers in reducing energy consumption by monitoring the appliances.


Some of the companies for Smart Plug market are:

  • Belkin International, Inc.
  • D-Link Corporation
  • Panasonic Corporation
  • EDIMAX Technology Co., Ltd.
  • Etekcity Corporation
  • Insteon
  • Leviton Manufacturing Co., Inc.
  • SDI Technologies, Inc.
  • TP-Link Technologies Co., Ltd.
  • Ankuoo Electronics Inc.
  • ConnectSense
  • Xiaomi Inc.
  • Lenovo Group Limited


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