Global WIFI Smart Plugs Market by Type (Two-hole Plug, Three-hole Plug, Porous Plug), By Application (Travel, Residential, Commercial, Industrial, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

The Global WIFI Smart Plugs Market size is expected to grow at a CAGR of 12.7% by 2028 and will be worth US$1.4 billion by the end of 2028. Increasing demand for energy efficiency drives the growth in this market as consumers are looking for ways to reduce their utility bills without compromising on comfort levels or convenience. The residential segment accounted for the largest share of revenue in 2018 and it is expected to maintain its size through 2028 owing to increasing adoption rates among homeowners who prefer products that can be installed easily and provide savings on electricity bills.

WIFI Smart Plugs are electronic devices that connect appliances or lamps to a home network. They allow users to control the connected device from anywhere in the world using an app on their smartphone, by voice through Amazon Alexa/Google Assistant and Apple HomeKit enabled devices. WIFI smart plugs work with any type of appliance including lights, fans, coffee makers, etc.

On the basis of Types, the market is segmented into Two-hole Plug, Three-hole Plug, and Porous Plug. The two types of smart plugs are increasing in demand owing to their ability to connect multiple devices simultaneously using a single outlet.

Two-hole WIFI Smart Plugs:

Two-hole WIFI Smart Plugs are products that have two electrical power sockets in one device. Two-hole WIFI Smart Plugs plug into a standard socket and can be remotely controlled. They are mainly used in residential and commercial sectors.

Three-hole WIFI Smart Plugs:

Three-hole WIFI Smart Plugs are plugged with three pins. They were used in the past to connect appliances that required high voltage, but modern electric products use other types of plug systems. Three-hole plugs can be found on devices such as computers and TVs. The grid system is available at most homes around the world today for powering this type of product up.

Porous Plug:

A porous plug is a type of power adapter which has an internal design that separates the live and neutral pins. Porous plugs are typically used with appliances requiring more than 15 amps, such as electric ovens or clothes dryers.

On the basis of Application, the market is segmented into Travel, Residential, Commercial, and Industrial. The demand for commercial applications is expected to increase at a steady rate during the forecast period due to the rising adoption of smart plugs by businesses such as hotels and restaurants.

Travel:

WIFI Smart Plugs are used for Travel purposes to keep the devices charged while traveling. It easily connects to hotels' WIFI networks, instead of having to configure new connections every day. These plugs are helpful in connecting the laptop and phone seamlessly when traveling.

Residential:  

WIFI smart plugs help to control and monitor the appliances. They can be used in residential applications for controlling blinds, fans, heaters, lights, etc. through mobile phones or tablets from anywhere on earth. This helps people save money on energy bills by switching off your appliance remotely when you are not at home.

Commercial:

WIFI Smart Plugs are gaining traction in commercial applications because of the ease with which they can be installed. They also offer convenience to consumers by allowing them to control appliances remotely via an app on their phone or tablet. This technology is most often used in situations where electrical equipment needs to remain working during a power outage for security systems, heating, and air conditioning units, etc.

Industrial:

Industrial applications are set to remain the major drivers of WIFI Smart Plugs industry growth. It is used for controlling home appliances, heating equipment, and power management in large buildings such as shopping malls, warehouses, etc.

On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North American market holds the largest market share in the Global WIFI Smart Plugs Market and is expected to maintain its dominance during the forecast period. The major factor contributing to this growth is the increasing adoption of smart home appliances, such as kitchen appliances and security devices. Moreover, the rise in demand for energy-efficient systems provides an opportunity for manufacturers to introduce the latest products with enhanced features in North America.

Growth Factors For The Global WIFI Smart Plugs Market:

The market for WIFI smart plugs is expected to expand significantly over the next few years, driven by factors such as increased demand from residential and commercial buildings. Additionally, the growing penetration of electronic appliances in households around the world is fueling product proliferation. This has led to an increase in demand for home automation devices that can be controlled with a mobile application or single touch on any internet device (smartphone/tablet).

Furthermore, rising awareness about energy consumption among consumers is also likely to fuel the market growth during this period. However, the high initial investment may restrain global market expansion in some regions across the globe; several companies are therefore working towards developing cost-effective products at affordable prices.

Up Market Research published a new report titled “WIFI Smart Plugs Market research report which is segmented by Types (Two-hole Plug, Three-hole Plug, Porous Plug), By Applications (Travel, Residential, Commercial, Industrial, Others), By Players/Companies Belkin International, Etekcity, EDIMAX Technology, Insteon, D-Link, BULL, Haier, SDI Technologies, Panasonic, TP-Link, Leviton, iSmartAlarm, Broadlink”. 

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global WIFI Smart Plugs Market Report Segments:

The market is segmented by Type Two-hole Plug, Three-hole Plug, Porous Plug and By Application Travel, Residential, Commercial, Industrial, Others.

Some of the companies that are profiled in this report are:

1. Belkin International
2. Etekcity
3. EDIMAX Technology
4. Insteon
5. D-Link
6. BULL
7. Haier
8. SDI Technologies
9. Panasonic
10. TP-Link
11. Leviton
12. iSmartAlarm
13. Broadlink

WIFI Smart Plugs Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the WIFI Smart Plugs Market

Overview of the regional outlook of the WIFI Smart Plugs Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The WIFI Smart Plugs Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of WIFI Smart Plugs Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.
6. By Type:

                1. Two-hole Plug

                2. Three-hole Plug

                3. Porous Plug

                1. Travel

                2. Residential

                3. Commercial

                4. Industrial

                5. Others

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the WIFI Smart Plugs Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
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• Identifying Appropriate Advertising Appeals

Reasons to Purchase the WIFI Smart Plugs Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.