Global Smart Plug Market (2022 to 2028) - Size, Share & Industry Trends Analysis Report - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Smart Plug Market Size, Share & Industry Trends Analysis Report By Product (Wi-Fi and Bluetooth), By Application (Household, Commercial, and Industrial), By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.

The Global Smart Plug Market size is expected to reach $1.4 billion by 2028, rising at a market growth of 32.4% CAGR during the forecast period.

Key Market Players

• Xiaomi Corporation
• Panasonic Corporation
• Belkin International, Inc.
• D-Link Corporation
• Lenovo Group Limited
• Etekcity Corporation
• Ashtead Group PLC
• Leviton Manufacturing Co., Inc.
• TP-Link Technologies Co. Ltd.
• SDI Technologies, Inc.

A smart plug can be installed between electrical cords and sockets to act as a remote-control power switch. Therefore, smart plugs can be used to turn "dumb" electrical equipment into "smart" equipment, enabling those items for usage in home automation or building automation. For example, a smart home hub, a virtual assistant, or a smartphone application can all be used to operate smart plugs.

Wi-Fi, Bluetooth, ZigBee, and Z-Wave are some examples of communication protocols that are utilized with smart plugs. A built-in ammeter is a common feature of smart plugs, allowing users to track the connected equipment's electric energy use (expressed in kilowatt-hours). Smart plugs frequently feature a thin shape to not obstruct access to nearby sockets in a wall outlet.

A quick and easy solution to control the wired appliances in the user house is with smart plugs. The consumer only needs to plug it in and connect it to a Wi-Fi network by following the instructions in the appropriate software on the phone or tablet to set it up. Once a wired device, such as a light or fan, is plugged into a smart plug, the user may now operate it from anywhere in the world using the phone. User can also link their smart plug to a smart home hub, such as an Amazon Echo or Google Home Hub, to enable voice requests like "Alexa, turn on the bedroom fan."

The popularity of smart appliances is rising as a result of their many advantages, such as remote control, file transfer, storage systems, remote monitoring, etc. By enabling smart features controllable from mobile devices, smart plugs are an affordable method for transforming standard home appliances like televisions, lamps, air conditioners, fans, cable boxes, and others into smart appliances.

Market Growth Factors

Smart Plugs Enhance Safety And Security

After hurrying to the office, the stress feels from leaving electronics on is terrible. Leaving any device in the house unattended poses a threat to the home's security, whether it's the iron, the heater, or any other. By using an app on smartphone, can use the smart plug to turn off all of the devices even after getting into the office or on vacation.

Even while you're away on vacation, can program the lights to come on or go off and make it appear as though home. Lights and other gadgets can be integrated into home security strategies using smart plugs. Consumers are all aware that inviting robbers into the home by leaving one light on the entire tis are away on vacation.

Smart Plugs Help Energy Conservation

The Smart Plug has integrated energy management features that can help customers reduce waste and lessen the recurring power costs. Consumer can find power hogs with smart plugs that keep track of energy usage. Users may pay less for electricity as a result of them helping customers reduce energy waste. A few smart plugs have smart meters that monitor energy use. These meters show, how much energy each device consumes in real-time. Users can now determine whether the Xbox or that mess of hair styling equipment is using up all the electricity. Users can reduce latent energy use in addition to eliminating active energy wasters.

Market Restraining Factors

The Expensive Cost And Massive Size Of The Smart Plug

These technologies are so advanced, that one of their drawbacks is that they are frequently quite expensive. The advantages and drawbacks can be balanced, though, if consumers compare it to the amount of money, save each month on bills. Additionally, purchasing a device with superior capabilities is advised if want to make the most of technology. Because of this, may also perceive it to be more expensive, but investing in the best products will always be worthwhile. Since more product modifications are needed than with most other smart devices, the average cost of each smart switch will rise as a result, driving up product development expenses.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

2.1 Introduction

2.1.1 Overview

2.1.1.1 Market composition & scenarios

2.2 Key Factors Impacting the Market

2.2.1 Market Drivers

2.2.2 Market Restraints

Chapter 3. Recent Strategies deployed in Smart plug market

Chapter 4. Global Smart Plug Market by Product

4.1 Global Wi-Fi Market by Region

4.2 Global Bluetooth Market by Region

Chapter 5. Global Smart Plug Market by Application

Chapter 6. Global Smart Plug Market by Region

Chapter 7. Company Profiles

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