Global Smart Plug Market To Reach 2.8 Billion USD By 2022 At 17.5% CAGR through 2022

Date: 2018-03-09

Smart Plug can be controlled by an app, a smart plug lets you turn on and off any appliance that plugs into a standard wall socket. As part of a solution, you can actively control it, or automate it so that it reacts to schedules and triggers from your security system. Simply plug it into any wall socket, and then plug your chosen appliance into it. You can use it with a lamp, a TV, a cable box, a coffee machine.

The global trend of IoT will play a key role in the Smart Plug market, the drivers such as the concept of controlling all the electronic components of a home is gaining increasing attention, Smart plugs allow homeowners to operate and monitor all connected appliances via a smartphone, and intelligent Industrial Internets are also expected to demand the Smart Plug as the key parts. According to research, the global Smart Plug market is expected to grow at 17.5% CAGR between 2018-2022.

On the basis of application, the Smart Plug are used in the industrial, commercial and residential which to control light and energy consumption of the consumers, thanks to the increasing constructions of residential building, residential sectors are expected to be the fastest end-users of Smart Plug, followed by commercial and industrial customers. However, high installation costs for end-users would be a restraint for the Smart Plug market, especially in developing countries.

Geographically, the North America accounted for the largest market; however, the Asia Pacific is projected to experience the fastest growing market during the forecast period, the key factors impacting the market such as urbanization and infrastructural activities in these regions, especial China, China is expected to grow at the fastest pace during the forecast period. 

Moreover, the growing power sector in India is expected to spur the growth of the market, and represents a promising opportunity for major Smart Plug providers. Japan is also expected to witness a significant growth during the same period.

Global top manufacturers operating in Smart Plug Market are XiaoMi, iHOME, D-Link, Ankuoo, WeMo, Kankan, Belkin, Kankun, Blackloud, YW, Etekcity, Satechi, Edimax, Haier and Bull. among others.

Global Smart Plug market share by region as following:

Read Full Report: http://www.gosreports.com/global-smart-plugs-market-research-report-2018/

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 510-400-8520
Web: www.gosreports.com
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