Smart Plug Market by End-User, Connectivity, and Geography - Forecast and Analysis 2023-2027

Published: Oct 2023

Pages: 158

SKU: IRTNTR43229

Snapshot

Smart Plug Market Report Forecast

The Smart Plug Market share was valued at USD 2,187.29 million in 2020 and showed positive growth during the forecast period. The smart plug market is classified into End-user (residential and commercial), Connectivity (wi-fi and bluetooth), and Geography (North America, Europe, APAC, Middle East and Africa, and South America) and geography North America, Europe, APAC, Middle East and Africa, and South America.

How big is the Smart Plug Market from 2023 to 2027?

The global smart plug market size is estimated to grow by USD 7,487.13 million, accelerating at a CAGR of 29.7% between 2023 and 2027.

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What is the trend in the Smart Plug Market?

The competition from built-in smart appliances is one of the major smart plug market trends shaping the market growth. The penetration of built-in smart appliances is expected to increase during the forecast period. In the current market scenario, these smart electronic appliances have a niche position because they have a price premium attached to them. However, as technology adoption increases, these appliances are expected to become more affordable and will likely give tough competition to smart plugs.

The prominent vendors operating in the market are D-Link Corp., Insteon, iSmart Alarm Inc., Leviton Manufacturing Co. Inc., and more. There is intense competition among these established vendors in the market, which restricts the entry of new players. The adoption of built-in smart appliances will reduce the need for smart plugs, which will severely hinder the global smart plug market growth during the forecast period.

Which driving factor helps to grow the Smart Plug Market?

Growing demand for smart homes is a key driver boosting the market growth. There is an increased demand for smart homes globally owing to the growing interest of home buyers in technology-driven solutions. Smart homes consist of built-in smart appliances that are priced at a premium because they hold a niche position in the consumer electronics market. Therefore, built-in smart appliances are not always financially viable options for a majority of the population, especially in underdeveloped or developing countries. Therefore, the demand for smart plugs is increasing as they are cost-effective alternatives for built-in smart appliances.

The growing demand for energy-efficient and remotely monitored household appliances will drive the sales of smart plugs, which, in turn, will fuel the growth of the global smart plug market during the forecast period.

What are the major challenges in the Smart Plug Market?

The high cost of smart plugs is a key challenge hindering the smart plug market. The adoption of smart plugs is impeded by their high cost and the extended time required to realize a return on investment. Despite appearing relatively inexpensive, a smart plug can be 8-10 times pricier than a standard plug socket, making it challenging for manufacturers to persuade consumers to make the switch. These products primarily target a niche high-end consumer segment, limiting their reach. To expand their market presence and attract a broader customer base, vendors are shifting their focus towards the affordable luxury segment.

Smart plug technology demands substantial research and development investment, and widespread global deployment of smart grid technology is necessary for their optimal use. As smart plug adoption remains limited, their costs remain high. Vendors are striving to create more budget-friendly options and establish brands that fulfill consumer needs. Consequently, the elevated cost of smart plugs is likely to adversely affect the growth of the global smart plug market in the forecast period.

Which segment accounted for the largest Smart Plug Industry share?

The residential segment is estimated to witness significant growth during the forecast period. One of the main factors that is significantly contributing to the growth of the residential segment is the increasing demand for smart appliances. There is an increasing adoption of smart plugs among the middle-class population as built-in smart appliances are expensive. Therefore, smart plugs are a cost-effective substitute for built-in smart appliances.

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The residential segment was the largest segment and was valued at USD 1,261.02 million in 2017. Thus, there is significant growth in the smart plugs market as energy-efficient smart home products in the residential segment. Another factor that is fuelling the adoption of smart plugs in the residential sector is the government mandates for energy efficiency in several types of household appliances. Additionally, some of the key advantages offered by smart plugs in the residential segment include remote monitoring, energy control, scheduling, and more. Hence, factors such as energy efficiency offered by smart plugs are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

Which are the Key Regions for the Smart Plug Industry?

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North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The North American smart plugs market is set for substantial growth due to rising smart home adoption, particularly in the US, where almost 69% of households use smart home technology. The US, a global smart home leader, is witnessing a rapid adoption of built-in smart devices, driving the demand for smart plugs. Additionally, increased construction activities in the US are boosting the need for smart plugs to monitor and reduce power consumption, especially with high-income individuals and a substantial population of early technology adopters. This makes the region an attractive market for advanced home appliances. Consequently, the North American smart plug market is expected to expand significantly in the forecast period.

In 2020, the COVID-19 pandemic negatively impacted the demand for smart plugs in North America as lockdowns and social distancing measures forced the closure of retail stores that sold these devices. However, by 2021, as COVID-19 restrictions began to ease with vaccine availability, retail stores reopened, resulting in increased sales of smart plugs. The resumption of normal business activities in 2022 and the continued easing of lockdown measures led to a boost in smart plug sales, driving the North American smart plug market's growth in the forecast period.

Which are the major companies and key offerings of the Smart Plug Market?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ibroadlink- The company offers smart plug such as BroadLink SP4D smart plug socket that supports both 2.4G and 5G dual band WiFi.

Technavio has detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The smart plug market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.

End-user Outlook (USD Million, 2017 - 2027)
- Residential
- Commercial
Connectivity Outlook (USD Million, 2017 - 2027)
- Wi-Fi
- Bluetooth
Geography Outlook (USD Million, 2017 - 2027)
- North America
  - The U.S.
  - Canada
- Europe
  - U.K.
  - Germany
  - France
  - Rest of Europe
- APAC
  - China
  - India
- South America
  - Chile
  - Argentina
  - Brazil
- Middle East & Africa
  - Saudi Arabia
  - South Africa
  - Rest of the Middle East & Africa

Smart Plug Market Scope
Report Coverage	Details
Page number	158
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 29.7%
Market growth 2023-2027	USD 7,487.13 million
Market structure	Fragmented
YoY growth 2022-2023(%)	17.03
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 31%
Key countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	BroadLink, ConnectSense, D Link Corp., EDIMAX Technology Co. Ltd., Halonix Technologies Pvt Ltd., Havells India Ltd., Hon Hai Precision Industry Co. Ltd., Indiegogo Inc., Insteon Technologies LLC, ITEAD Intelligent Systems Co. Ltd., Lenovo Group Ltd., Leviton Manufacturing Co. Inc., Panasonic Holdings Corp., Revogi Innovation Co. Ltd., Satechi LLC, Syska Led Lights Pvt. Ltd., TP Link Corp. Ltd., Vesync Co. Ltd., Wipro Ltd., and Xiaomi Communications Co. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Smart Plug Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market between 2023 and 2027
Precise estimation of the size of the market size and its contribution of the market in focus to the parent market
Accurate predictions about upcoming trends and changes in consumer behaviour
Growth of the market industry across North America, Europe, APAC, Middle East and Africa, and South America
Thorough analysis of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements.

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Connectivity
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global smart plug market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on global smart plug market 2017 - 2021 ($ million)

4.2 End-User Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – End-User Segment 2017 - 2021 ($ million)

4.3 Connectivity Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Connectivity Segment 2017 - 2021 ($ million)

4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

6.1 Market segments
- Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

6.2 Comparison by End-user
- Exhibit 32: Chart on Comparison by End-user
- Exhibit 33: Data Table on Comparison by End-user

6.3 Residential - Market size and forecast 2022-2027
- Exhibit 34: Chart on Residential - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Residential - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Residential - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Residential - Year-over-year growth 2022-2027 (%)

6.4 Commercial - Market size and forecast 2022-2027
- Exhibit 38: Chart on Commercial - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Commercial - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Commercial - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Commercial - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by End-user
- Exhibit 42: Market opportunity by End-user ($ million)
- Exhibit 43: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Connectivity

7.1 Market segments
- Exhibit 44: Chart on Connectivity - Market share 2022-2027 (%)
- Exhibit 45: Data Table on Connectivity - Market share 2022-2027 (%)

7.2 Comparison by Connectivity
- Exhibit 46: Chart on Comparison by Connectivity
- Exhibit 47: Data Table on Comparison by Connectivity

7.3 Wi-Fi - Market size and forecast 2022-2027
- Exhibit 48: Chart on Wi-Fi - Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Data Table on Wi-Fi - Market size and forecast 2022-2027 ($ million)
- Exhibit 50: Chart on Wi-Fi - Year-over-year growth 2022-2027 (%)
- Exhibit 51: Data Table on Wi-Fi - Year-over-year growth 2022-2027 (%)

7.4 Bluetooth - Market size and forecast 2022-2027
- Exhibit 52: Chart on Bluetooth - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Data Table on Bluetooth - Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Chart on Bluetooth - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Bluetooth - Year-over-year growth 2022-2027 (%)

7.5 Market opportunity by Connectivity
- Exhibit 56: Market opportunity by Connectivity ($ million)
- Exhibit 57: Data Table on Market opportunity by Connectivity ($ million)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 59: Chart on Market share by geography 2022-2027 (%)
- Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison
- Exhibit 61: Chart on Geographic comparison
- Exhibit 62: Data Table on Geographic comparison

9.3 North America - Market size and forecast 2022-2027
- Exhibit 63: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 64: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 65: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027
- Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 APAC - Market size and forecast 2022-2027
- Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.6 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 75: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.7 South America - Market size and forecast 2022-2027
- Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.8 US - Market size and forecast 2022-2027
- Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

9.9 Germany - Market size and forecast 2022-2027
- Exhibit 87: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.10 UK - Market size and forecast 2022-2027
- Exhibit 91: Chart on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.11 China - Market size and forecast 2022-2027
- Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

9.12 Japan - Market size and forecast 2022-2027
- Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography
- Exhibit 103: Market opportunity by geography ($ million)
- Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 105: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 107: Overview on factors of disruption

11.4 Industry risks
- Exhibit 108: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 109: Vendors covered

12.2 Market positioning of vendors
- Exhibit 110: Matrix on vendor position and classification

12.3 BroadLink
- Exhibit 111: BroadLink - Overview
- Exhibit 112: BroadLink - Product / Service
- Exhibit 113: BroadLink - Key news
- Exhibit 114: BroadLink - Key offerings

12.4 D Link Corp.
- Exhibit 115: D Link Corp. - Overview
- Exhibit 116: D Link Corp. - Business segments
- Exhibit 117: D Link Corp. - Key news
- Exhibit 118: D Link Corp. - Key offerings
- Exhibit 119: D Link Corp. - Segment focus

12.5 EDIMAX Technology Co. Ltd.
- Exhibit 120: EDIMAX Technology Co. Ltd. - Overview
- Exhibit 121: EDIMAX Technology Co. Ltd. - Business segments
- Exhibit 122: EDIMAX Technology Co. Ltd. - Key offerings
- Exhibit 123: EDIMAX Technology Co. Ltd. - Segment focus

12.6 Hon Hai Precision Industry Co. Ltd.
- Exhibit 124: Hon Hai Precision Industry Co. Ltd. - Overview
- Exhibit 125: Hon Hai Precision Industry Co. Ltd. - Product / Service
- Exhibit 126: Hon Hai Precision Industry Co. Ltd. - Key offerings

12.7 Indiegogo Inc.
- Exhibit 127: Indiegogo Inc. - Overview
- Exhibit 128: Indiegogo Inc. - Product / Service
- Exhibit 129: Indiegogo Inc. - Key news
- Exhibit 130: Indiegogo Inc. - Key offerings

12.8 Insteon Technologies LLC
- Exhibit 131: Insteon Technologies LLC - Overview
- Exhibit 132: Insteon Technologies LLC - Product / Service
- Exhibit 133: Insteon Technologies LLC - Key offerings

12.9 ITEAD Intelligent Systems Co. Ltd.
- Exhibit 134: ITEAD Intelligent Systems Co. Ltd. - Overview
- Exhibit 135: ITEAD Intelligent Systems Co. Ltd. - Product / Service
- Exhibit 136: ITEAD Intelligent Systems Co. Ltd. - Key offerings

12.10 Lenovo Group Ltd.
- Exhibit 137: Lenovo Group Ltd. - Overview
- Exhibit 138: Lenovo Group Ltd. - Business segments
- Exhibit 139: Lenovo Group Ltd. - Key offerings
- Exhibit 140: Lenovo Group Ltd. - Segment focus

12.11 Leviton Manufacturing Co. Inc.
- Exhibit 141: Leviton Manufacturing Co. Inc. - Overview
- Exhibit 142: Leviton Manufacturing Co. Inc. - Product / Service
- Exhibit 143: Leviton Manufacturing Co. Inc. - Key offerings

12.12 Panasonic Holdings Corp.
- Exhibit 144: Panasonic Holdings Corp. - Overview
- Exhibit 145: Panasonic Holdings Corp. - Business segments
- Exhibit 146: Panasonic Holdings Corp. - Key news
- Exhibit 147: Panasonic Holdings Corp. - Key offerings
- Exhibit 148: Panasonic Holdings Corp. - Segment focus

12.13 Revogi Innovation Co. Ltd.
- Exhibit 149: Revogi Innovation Co. Ltd. - Overview
- Exhibit 150: Revogi Innovation Co. Ltd. - Product / Service
- Exhibit 151: Revogi Innovation Co. Ltd. - Key offerings

12.14 Satechi LLC
- Exhibit 152: Satechi LLC - Overview
- Exhibit 153: Satechi LLC - Product / Service
- Exhibit 154: Satechi LLC - Key offerings

12.15 TP Link Corp. Ltd.
- Exhibit 155: TP Link Corp. Ltd. - Overview
- Exhibit 156: TP Link Corp. Ltd. - Product / Service
- Exhibit 157: TP Link Corp. Ltd. - Key news
- Exhibit 158: TP Link Corp. Ltd. - Key offerings

12.16 Vesync Co. Ltd.
- Exhibit 159: Vesync Co. Ltd. - Overview
- Exhibit 160: Vesync Co. Ltd. - Product / Service
- Exhibit 161: Vesync Co. Ltd. - Key offerings

12.17 Wipro Ltd.
- Exhibit 162: Wipro Ltd. - Overview
- Exhibit 163: Wipro Ltd. - Business segments
- Exhibit 164: Wipro Ltd. - Key news
- Exhibit 165: Wipro Ltd. - Key offerings
- Exhibit 166: Wipro Ltd. - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 167: Inclusions checklist
- Exhibit 168: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 169: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 170: Research methodology
- Exhibit 171: Validation techniques employed for market sizing
- Exhibit 172: Information sources

13.5 List of abbreviations
- Exhibit 173: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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