Consumer & Retail

According to a market report by Lucintel, the future of the global smart plug market looks promising with opportunities in the commercial, household, and industrial applications. The global smart plug market is expected to reach an estimated $7.8 billion by 2028 with a CAGR of 25.6% from 2023 to 2028. The major drivers for this market are increasing customer inclination towards intelligent home systems, growing adoption of IoT (internet of things) enabled plugs, and expanding number of smart city projects in the developing countries.



Wi-Fi and bluetooth are the two types of smart plugs used by various end use industries. Lucintel forecasts that Wi-Fi will remain the larger segment over the forecast period because of increasing demand for smart devices with voice assistants and

Wi-Fi-enabled features and significant use of these plugs in large and mid-range home appliances.

Within this market, household will remain the largest segment due to increasing residential demand for modern energy-efficient home appliances and presence of stringent government policy for using energy saving appliances at home.



North America will remain the largest region over the forecast period due to increasing application of smart devices in automated building systems, growing customer preference towards energy-efficient smart appliances, and presence of key players in the region.



Belkin International, D-Link, Panasonic, EDIMAX Technology, Etekcity, Insteon, and Leviton Manufacturing are the major suppliers in the global smart plug market.



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global smart plug market by product type, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Smart Plug Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global smart plug market by product type, application, and region, as follows:

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the global smart plug market by product type (Wi-Fi and bluetooth), application (commercial, household, and industrial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?