Smart Plug Market by Product (Wi-Fi, Bluetooth), by End-user (Commercial, Residential, Industrial), by North America (U.S., Canada, Mexico), by Europe (U.K., Germany, France, Italy, Spain, Rest of Europe), by Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific), by Middle East & Africa (GCC, South Africa, Rest of Middle East and Africa), by South America (Brazil, Argentina, Rest of South America) Forecast 2024-2032
The Smart Plug Marketsize was valued at USD 1.55 USD billion in 2023 and is projected to reach USD 4.00 USD billion by 2032, exhibiting a CAGR of 14.5 % during the forecast period. Smart plugs can be defined as wire-connected products that control sockets through applications, a smartphone, or even voice commands. These plugs usually have Wi-Fi or Bluetooth capabilities to allow remote control, time control, or control through energy consumption. There are variants, the Wi-Fi smart plugs that plug and link the home’s Wi-Fi, and Bluetooth smart plugs that require Bluetooth access. A few of the modern models also come with the capability to connect with home automation systems. Some of the key features may include the energy consumption report feature, compatibility with voice assistants like Amazon Alexa or Google Assistant, and the scheduling feature. Smart plugs are welcome in smart homes in terms of home appliance automation, energy control, and saving, as well as distant control over the devices.
Smart Plug Trends
Product:
End-user:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 14.5% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 14.5% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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