Smart-Connected Power Plug Sockets

Global Smart-Connected Power Plug Sockets Market to Reach US$2.4 Billion by 2030

The global market for Smart-Connected Power Plug Sockets estimated at US$368.1 Million in the year 2023, is expected to reach US$2.4 Billion by 2030, growing at a CAGR of 30.5% over the analysis period 2023-2030. Household Application, one of the segments analyzed in the report, is expected to record a 29.6% CAGR and reach US$1.8 Billion by the end of the analysis period. Growth in the Commercial Application segment is estimated at 33.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$107.7 Million While China is Forecast to Grow at 29.2% CAGR

The Smart-Connected Power Plug Sockets market in the U.S. is estimated at US$107.7 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$399.7 Million by the year 2030 trailing a CAGR of 29.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 27.7% and 26.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 21.3% CAGR.

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.

Select Competitors (Total 22 Featured) -

• Belkin international, Inc.
• Bert
• Cassia Networks
• D-Link Corporation
• D-Link US
• Emporia Energy
• Gnrgy
• Gulplug
• iSocket Systems
• Kancy Systems

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