Global Smart Plug Market is accounted for $3,237.08 million in 2020 and is expected to reach $8,130.10 million by 2028 growing at a CAGR of 12.2% during the forecast period. Rising technological advancements, increasing preference for smart homes, and high demand for remote access to appliances are the major factors propelling the market growth.
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By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the rising economies in the nations such as China, Japan, and India. In addition to this, rising middle-class population and the growing demand for digital services and solutions are some of the key factors that are likely to encourage the market growth in the near future.
Some of the key players profiled in the Smart Plug Market include Belkin International Inc., Broadlink, D-Link Corp., EDIMAX Technology Co. Ltd., Etekcity Corp., Haier, Insteon, iSmart Alarm Inc., Konke, Leviton Manufacturing Co. Inc., Panasonic Corp., Samsung, SDI Technologies Inc., TP-Link Technologies Co. Ltd., and Xiaomiw.
Platforms Covered in Smart Plug Market
• Zigbee or Z-Wave
• Metering Smart Plug
• Timing Smart Plug
• Two-hole Plug
• Three-hole Plug
• Porous Plug
• Early Majority
• Early Adopters
Distribution Channels Covered:
End Users Covered:
• Commercial (Restaurant & Hotel)
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