The global market for Smart-Connected Power Plug Sockets was estimated at US$368.1 Million in 2023 and is projected to reach US$2.4 Billion by 2030, growing at a CAGR of 30.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Global Smart-Connected Power Plug Sockets Market - Key Trends and Drivers Summarized
Smart-Connected Power Plug Sockets: Are They the Future of Home Automation?
Smart-connected power plug sockets are innovative devices that provide remote control and automation of electrical outlets through smartphone apps, voice assistants, or smart home hubs. These smart sockets offer functionalities such as energy monitoring, scheduling, overload protection, and remote on/off control, making them essential components of modern smart home ecosystems. The market for smart-connected power plug sockets is growing rapidly as consumers increasingly adopt smart home technologies for convenience, energy efficiency, and security. Market segments include Wi-Fi-enabled sockets, Zigbee-based sockets, Bluetooth-enabled sockets, and sockets compatible with voice assistants such as Amazon Alexa, Google Assistant, and Apple Siri, catering to different user preferences and smart home configurations.How Are Smart Sockets Enhancing Home Automation and Energy Management?
Smart-connected power plug sockets are playing a crucial role in enhancing home automation and energy management by providing users with greater control over their electrical devices and appliances. These sockets allow users to monitor real-time energy consumption and set schedules or timers to turn devices on or off, helping to reduce energy waste and lower utility bills. Integration with voice assistants and smart home hubs is enabling seamless automation and control, allowing users to manage multiple devices through simple voice commands or mobile apps. Additionally, smart sockets with built-in safety features, such as surge protection and thermal monitoring, are providing enhanced security and peace of mind, particularly in homes with children and elderly individuals. These functionalities are driving the adoption of smart-connected power plug sockets in smart homes worldwide.What Market Trends Are Shaping the Demand for Smart-Connected Power Plug Sockets?
Several market trends are shaping the demand for smart-connected power plug sockets, reflecting the growing consumer preference for smart home automation and energy-efficient solutions. The increasing focus on smart energy management and sustainability is driving the demand for smart sockets that provide energy monitoring and consumption control features. The rising adoption of voice-controlled smart home ecosystems is expanding the market for sockets that are compatible with popular voice assistants and smart home hubs. The trend of remote working and home-based entertainment is creating new opportunities for smart sockets that offer convenience and control over home appliances and electronic devices. Additionally, the growing emphasis on home safety and security is prompting consumers to invest in smart sockets with advanced safety features, such as child-proof designs, overload protection, and remote monitoring.What Drives the Growth in the Smart-Connected Power Plug Sockets Market?
The growth in the smart-connected power plug sockets market is driven by several factors, including advancements in smart home technologies, the increasing emphasis on energy management and sustainability, and the rising adoption of voice-controlled home automation systems. The integration of Wi-Fi, Bluetooth, and Zigbee connectivity options in smart sockets is enhancing compatibility and user experience, driving market adoption. The growing demand for smart home devices that provide convenience, safety, and energy efficiency is also supporting market growth. Additionally, the expansion of e-commerce channels and the availability of affordable smart sockets are making these devices more accessible to a broader audience. The increasing focus on smart home security and the integration of smart sockets with home monitoring systems are further contributing to the growth of the smart-connected power plug sockets market.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Household Application segment, which is expected to reach US$1.8 Billion by 2030 with a CAGR of a 29.6%. The Commercial Application segment is also set to grow at 33.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $107.7 Million in 2023, and China, forecasted to grow at an impressive 29.2% CAGR to reach $399.7 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Smart-Connected Power Plug Sockets Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Smart-Connected Power Plug Sockets Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Smart-Connected Power Plug Sockets Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Smart-Connected Power Plug Sockets market such as Belkin international, Inc., Bert, Cassia Networks, D-Link Corporation, D-Link US and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 22 companies featured in this Smart-Connected Power Plug Sockets market report include:
- Belkin international, Inc.
- Bert
- Cassia Networks
- D-Link Corporation
- D-Link US
- Emporia Energy
- Gnrgy
- Gulplug
- iSocket Systems
- Kancy Systems
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
- Belkin international, Inc.
- Bert
- Cassia Networks
- D-Link Corporation
- D-Link US
- Emporia Energy
- Gnrgy
- Gulplug
- iSocket Systems
- Kancy Systems
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 184 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 368.1 Million |
| Forecasted Market Value ( USD | $ 2400 Million |
| Compound Annual Growth Rate | 30.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
