Global Smart-Connected Power Plug Socket Market 2017-2021

Overview of the global smart-connected power plug socket market

Research analysis on the global smart-connected power plug socket market identifies that the rising preference for power-efficient accessories among the consumers will be one of the major factors that will have a positive impact on the growth of the market. Factors such as high efficiency rates at low operational cost have increased the need for power-efficient electronic devices, appliances, and accessories among consumers, especially in developed economies. Countries such as Germany, the US, the UK, France, and Canada have witnessed high awareness among consumers about power consumption of devices and accessories. Moreover, it has been observed that with the increasing standards for calibration of home appliances, vendors in china and India are selling power-efficient products. Also, the increasing electricity costs adds to the demand for power-saving appliances. This will raise the need for smart-connected power plug sockets during the forecast period. Technavio’s market research analysts predict that this market will grow at a CAGR of more than 7% by 2021.

The Americas will be the major revenue contributor of the smart-connected power plug socket market throughout the forecast period. The rise in demand for smart homes and internet connected appliances and increased adoption of smartphones will drive the market growth in the region.

Competitive landscape and key vendors  

The smart-connected power plug sockets market consists of global players and many regional players. Vendors are likely to offer innovative products and volume discounts to customers. These vendors are also compelled to develop new technologies and stay informed about developing technologies to maintain the competitive edge in the market.

The leading vendors in the market are –

• Aeon Labs
• Azpen Innovation
• Belkin International
• D-Link Systems
• Honeywell International

The other prominent vendors in the market are adesso, BroadLink, ITEAD Intelligent Systems, Leviton Manufacturing, and SAFEMORE.

Segmentation by distribution channel and analysis of the smart-connected power plug socket market

• Offline distribution channel
• Online distribution channel

During 2016, the offline distribution channel segment accounted for the major shares of the smart-connected power plug socket market. Factors such as the increased preferance of consumers and expanding number of major retail stores will contribute to the growth of this industry segment in the coming years.

Segmentation by technology and analysis of the smart-connected power plug socket market

• Wi-Fi
• Bluetooth

As per this market research report, Wi-Fi technology will hold the maximum share of the smart-connected power plug socket market until 2021. Features such as increased connectivity through smartphones or other internet-enabled devices through specific mobile applications will drive the growth of the Wi-Fi enabled power plug socket market in the coming years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global smart-connected power plug socket market?
• What are the key market trends impacting the growth of the global smart-connected power plug socket market?
• What are the challenges to market growth?
• Who are the key vendors in the global smart-connected power plug socket market?
• What are the market opportunities and threats faced by the vendors in the global smart-connected power plug socket market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global smart-connected power plug socket market?

Technavio also offers customization on reports based on specific client requirement.