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PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1420332

PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1420332

Smart Plugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

PUBLISHED: January 19, 2024

PAGES: 240 Pages

DELIVERY TIME: 2-5 business days

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Description

The global smart plug market is experiencing significant growth, driven by the rapid adoption of home automation technologies and evolving consumer preferences towards smart home applications. Increasing demand for enhanced energy savings, a more convenient lifestyle, and advancements in the Internet of Things (IoT) ecosystem are propelling the smart plug market forward.

Smart Plugs Transforming Homes

Smart plugs are gaining popularity by offering a range of benefits, including remote control and monitoring. These devices provide convenience and cost savings to consumers, allowing easy access through smartphone apps even when users are away from home. They enable automatic triggers, enhancing home system security by monitoring appliances such as televisions, air conditioners, coffee machines, lamps, fans, and more.

Key Trends in the Smart Plugs Market

The growing preference for smart homes is driving the development of the smart plug market. Innovative products like Wi-Fi smart plugs are expected to further fuel market expansion. Devices such as Amazon Alexa and Amazon Echo are empowering users to control their smart home devices via smartphones, contributing to the market's growth. The concept of smart cities is gaining traction globally, with companies like Alphabet, IBM, and Microsoft leading innovative initiatives and solutions.

The affordability of smart plugs compared to built-in smart appliances is a significant factor encouraging market growth. Additionally, the demand for innovative household appliances and energy-efficient solutions is expected to accelerate market expansion. Technological advancements and increased investments by major players are further propelling the global smart plug market.

Challenges and Restraints

Despite mounting online sales, delays in product deliveries can impact smart plug sales and market growth. While smart plugs are relatively inexpensive, some consumers perceive them as an additional cost. Additionally, setup requirements, configurations, wires, and plugs in certain smart plug models may influence market growth during the forecast period.

COVID-19 Impact on the Smart Plugs Market

The COVID-19 pandemic has accelerated the shift towards digital living, and smart plugs are seen as energy-efficient solutions that save time and enhance security. Reports indicate that the smart plug market is expected to witness growth compared to 2019. Voice-activated controls have gained popularity, reducing the need for manual tasks and providing greater convenience to consumers.

Regional Analysis

North America holds a leading position in the global smart plugs market, benefiting from the presence of pioneering brands and a fast adoption of home automation technologies. Emerging economies in Asian countries such as China, Japan, and India are anticipated to experience remarkable growth due to an expanding middle-class population, changing consumer preferences, and increasing demand for digital services and solutions.

Competitive Analysis

The smart plug market is highly competitive and diverse, with numerous vendors investing in research and development to create advanced home automation solutions. They offer a wide range of products that foster market development. Key participants focus on introducing new products and raising awareness among consumers about the benefits of smart plugs.

TP-link has introduced the Kasa Smart Wi-Fi Power Strip, offering six grounded outlets that can be independently scheduled and controlled, along with three quick USB charging ports.
Wipro has launched a 10A smart plug with energy monitoring, suitable for small appliances like electric kettles, televisions, table fans, air purifiers, and set-top boxes. It also integrates with voice control devices such as Amazon Alexa and Google Assistant.

Prominent global companies operating in the smart plug market include: EDIMAX Technology, Panasonic, iSmartAlarm, D-Link, SDI Technologies, Etekcity, Leviton, TP-Link, Belkin International, and Insteon.

Global Smart Plugs Market: Market Segmentation

Technology

Early majority
Early adopters
Innovator

Type

Bluetooth
Wi-fi

End-user

Household use
Industrial use
Commercial use

Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa

1. Executive Summary

1.1. Global Smart Plugs Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Smart Plugs Market Outlook, 2018 - 2031

3.1. Global Smart Plugs Market Outlook, by Product type, Value (US$ Bn), 2018 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Early majority
  - 3.1.1.2. Early adopters
  - 3.1.1.3. Innovator
3.2. Global Smart Plugs Market Outlook, by Type, Value (US$ Bn), 2018 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Bluetooth
  - 3.2.1.2. Wi-fi
3.3. Global Smart Plugs Market Outlook, by End-user, Value (US$ Bn), 2018 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. Household use
  - 3.3.1.2. Industrial use
  - 3.3.1.3. Commercial use
3.4. Global Smart Plugs Market Outlook, by Region, Value (US$ Bn), 2018 - 2031
- 3.4.1. Key Highlights
  - 3.4.1.1. North America
  - 3.4.1.2. Europe
  - 3.4.1.3. Asia Pacific
  - 3.4.1.4. Latin America
  - 3.4.1.5. Middle East & Africa

4. North America Smart Plugs Market Outlook, 2018 - 2031

4.1. North America Smart Plugs Market Outlook, by Product type, Value (US$ Bn), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Early majority
  - 4.1.1.2. Early adopters
  - 4.1.1.3. Innovator
4.2. North America Smart Plugs Market Outlook, by Type, Value (US$ Bn), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Bluetooth
  - 4.2.1.2. Wi-fi
4.3. North America Smart Plugs Market Outlook, by End-user, Value (US$ Bn), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. Household use
  - 4.3.1.2. Industrial use
  - 4.3.1.3. Commercial use
- 4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America Smart Plugs Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 4.4.1. Key Highlights
  - 4.4.1.1. U.S. Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 4.4.1.2. U.S. Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 4.4.1.3. U.S. Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 4.4.1.4. Canada Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 4.4.1.5. Canada Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 4.4.1.6. Canada Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
- 4.4.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Smart Plugs Market Outlook, 2018 - 2031

5.1. Europe Smart Plugs Market Outlook, by Product type, Value (US$ Bn), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Early majority
  - 5.1.1.2. Early adopters
  - 5.1.1.3. Innovator
5.2. Europe Smart Plugs Market Outlook, by Type, Value (US$ Bn), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Bluetooth
  - 5.2.1.2. Wi-fi
5.3. Europe Smart Plugs Market Outlook, by End-user, Value (US$ Bn), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Household use
  - 5.3.1.2. Industrial use
  - 5.3.1.3. Commercial use
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe Smart Plugs Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 5.4.1. Key Highlights
  - 5.4.1.1. Germany Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.2. Germany Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.3. Germany Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 5.4.1.4. U.K. Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.5. U.K. Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.6. U.K. Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 5.4.1.7. France Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.8. France Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.9. France Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 5.4.1.10. Italy Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.11. Italy Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.12. Italy Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 5.4.1.13. Turkey Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.14. Turkey Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.15. Turkey Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 5.4.1.16. Russia Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.17. Russia Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.18. Russia Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 5.4.1.19. Rest of Europe Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.20. Rest of Europe Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 5.4.1.21. Rest of Europe Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
- 5.4.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Cassava Starch Market Outlook, 2018 - 2031

6.1. Asia Pacific Cassava Starch Market Outlook, by Product type, Value (US$ Bn), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Early majority
  - 6.1.1.2. Early adopters
  - 6.1.1.3. Innovator
6.2. Asia Pacific Smart Plugs Market Outlook, by Type, Value (US$ Bn), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Bluetooth
  - 6.2.1.2. Wi-fi
6.3. Asia Pacific Smart Plugs Market Outlook, by End-user, Value (US$ Bn), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. Household use
  - 6.3.1.2. Industrial use
  - 6.3.1.3. Commercial use
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific Smart Plugs Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 6.4.1. Key Highlights
  - 6.4.1.1. China Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 6.4.1.2. China Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 6.4.1.3. China Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 6.4.1.4. Japan Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 6.4.1.5. Japan Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 6.4.1.6. Japan Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 6.4.1.7. South Korea Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 6.4.1.8. South Korea Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 6.4.1.9. South Korea Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 6.4.1.10. India Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 6.4.1.11. India Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 6.4.1.12. India Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 6.4.1.13. Southeast Asia Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 6.4.1.14. Southeast Asia Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 6.4.1.15. Southeast Asia Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 6.4.1.16. Rest of Asia Pacific Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 6.4.1.17. Rest of Asia Pacific Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 6.4.1.18. Rest of Asia Pacific Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
- 6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Smart Plugs Market Outlook, 2018 - 2031

7.1. Latin America Smart Plugs Market Outlook, by Product type, Value (US$ Bn), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Early majority
  - 7.1.1.2. Early adopters
  - 7.1.1.3. Innovator
7.2. Latin America Smart Plugs Market Outlook, by Type, Value (US$ Bn), 2018 - 2031
7.3. Latin America Smart Plugs Market Outlook, by End-user, Value (US$ Bn), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Household use
  - 7.3.1.2. Industrial use
  - 7.3.1.3. Commercial use
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America Smart Plugs Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 7.4.1. Key Highlights
  - 7.4.1.1. Brazil Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 7.4.1.2. Brazil Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 7.4.1.3. Brazil Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 7.4.1.4. Mexico Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 7.4.1.5. Mexico Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 7.4.1.6. Mexico Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 7.4.1.7. Argentina Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 7.4.1.8. Argentina Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 7.4.1.9. Argentina Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 7.4.1.10. Rest of Latin America Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 7.4.1.11. Rest of Latin America Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 7.4.1.12. Rest of Latin America Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
- 7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Smart Plugs Market Outlook, 2018 - 2031

8.1. Middle East & Africa Smart Plugs Market Outlook, by Product type, Value (US$ Bn), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Early majority
  - 8.1.1.2. Early adopters
  - 8.1.1.3. Innovator
8.2. Middle East & Africa Smart Plugs Market Outlook, by Type, Value (US$ Bn), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Bluetooth
  - 8.2.1.2. Wi-fi
8.3. Middle East & Africa Smart Plugs Market Outlook, by End-user, Value (US$ Bn), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa Smart Plugs Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 8.4.1. Key Highlights
  - 8.4.1.1. GCC Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 8.4.1.2. GCC Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 8.4.1.3. GCC Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 8.4.1.4. South Africa Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 8.4.1.5. South Africa Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 8.4.1.6. South Africa Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 8.4.1.7. Egypt Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 8.4.1.8. Egypt Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 8.4.1.9. Egypt Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 8.4.1.10. Nigeria Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 8.4.1.11. Nigeria Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 8.4.1.12. Nigeria Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
  - 8.4.1.13. Rest of Middle East & Africa Smart Plugs Market by Product type, Value (US$ Bn), 2018 - 2031
  - 8.4.1.14. Rest of Middle East & Africa Smart Plugs Market by Type, Value (US$ Bn), 2018 - 2031
  - 8.4.1.15. Rest of Middle East & Africa Smart Plugs Market by End-user, Value (US$ Bn), 2018 - 2031
- 8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. By End-user vs by Type Heat map
9.2. Manufacturer vs by Type Heatmap
9.3. Company Market Share Analysis, 2023
9.4. Competitive Dashboard
9.5. Company Profiles
- 9.5.1. D-Link Corp.
  - 9.5.1.1. Company Overview
  - 9.5.1.2. Product Portfolio
  - 9.5.1.3. Financial Overview
  - 9.5.1.4. Business Strategies and Development
- 9.5.2. Belkin International Inc.
  - 9.5.2.1. Company Overview
  - 9.5.2.2. Product Portfolio
  - 9.5.2.3. Financial Overview
  - 9.5.2.4. Business Strategies and Development
- 9.5.3. Etekcity Corp.
  - 9.5.3.1. Company Overview
  - 9.5.3.2. Product Portfolio
  - 9.5.3.3. Financial Overview
  - 9.5.3.4. Business Strategies and Development
- 9.5.4. EDIMAX Technology Co. Ltd.
  - 9.5.4.1. Company Overview
  - 9.5.4.2. Product Portfolio
  - 9.5.4.3. Financial Overview
  - 9.5.4.4. Business Strategies and Development
- 9.5.5. iSmart Alarm Inc.
  - 9.5.5.1. Company Overview
  - 9.5.5.2. Product Portfolio
  - 9.5.5.3. Financial Overview
  - 9.5.5.4. Business Strategies and Development
- 9.5.6. Insteon
  - 9.5.6.1. Company Overview
  - 9.5.6.2. Product Portfolio
  - 9.5.6.3. Financial Overview
  - 9.5.6.4. Business Strategies and Development
- 9.5.7. Panasonic Corp.
  - 9.5.7.1. Company Overview
  - 9.5.7.2. Product Portfolio
  - 9.5.7.3. Financial Overview
  - 9.5.7.4. Business Strategies and Development
- 9.5.8. Leviton Manufacturing Co. Inc.
  - 9.5.8.1. Company Overview
  - 9.5.8.2. Product Portfolio
  - 9.5.8.3. Financial Overview
  - 9.5.8.4. Business Strategies and Development
- 9.5.9. TP-Link Technologies Co. Ltd.
  - 9.5.9.1. Company Overview
  - 9.5.9.2. Product Portfolio
  - 9.5.9.3. Financial Overview
  - 9.5.9.4. Business Strategies and Development
- 9.5.10. SDI Technologies Inc.
  - 9.5.10.1. Company Overview
  - 9.5.10.2. Product Portfolio
  - 9.5.10.3. Financial Overview
  - 9.5.10.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations

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