Over the next five years the Smart Light Switches and Plugs market will register an 32% CAGR in terms of revenue, the global market size will reach USD 72 billion by 2027.
Smart Light Switches and Plugs Market Overview
A Smart Light switch and plugs is a device that is used to turn on and off devices in a circuit. The use of IoT and smart networks has enabled conventional switches to be remotely controlled. These smart switches can be controlled by smart devices that run a variety of applications. Smart plugs, on the other hand, are wireless sockets into which appliances can be inserted and then switched by remote control. The smart switches provide the user with a variety of functions for a personalised lighting experience. Smart plugs are the foundation of smart homes and offices. When used in smart homes, these offer a wide range of applications. As a result, the market for smart plus and switches is predicted to expand throughout the forecast period.
The rise in the creation of smart cities, the advent of IoT in consumer electronics, and the increase in technological developments in industrial devices are the reasons driving the growth of the smart plugs and switches market. Furthermore, the ease with which traditional plugs can be converted to smart plugs has had an impact on the smart plugs and switches market. However, the high cost of smart plugs and switches in comparison to conventional plugs and switches is impeding the global growth of the smart plugs and switches market. Furthermore, the increasing penetration of smart buildings and infrastructure, as well as the introduction of artificial intelligence (AI) in industrial applications, present lucrative potential for the smart plugs and switches market.
The rapid transformation of metropolitan cities into smart ones with modern infrastructure that regulates lighting devices and various electrical gadgets via smart switches and smart plugs controlled by remote control devices, as well as the use of smart sensors. Smart switches, for example, can enhance power consumption efficiency and minimise redundancy created by manual switching, saving money and energy. Furthermore, smart switches simplify the functioning of appliances connected to smart plugs. Smart device applications, such as display panels and smart phones, may perform switching with a single touch. Smart plugs also serve as a building element for smart homes, allowing us to turn on and off equipment using remote devices. Further, the advancement of IoT and its increased usage for industrial and domestic purposes which connects smart devices through smart networks has impacted the smart plugs and switches market.
Who are the Major Players in Smart Light Switches and Plugs Market?
The Smart Light Switches and Plugs Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market AmerTac, ABB(Cooper Industries), GE, HeathZenith, Honeywell, Hubbell, Leviton, Lutron, Lightolier, Belkin, Legrand, Pass & Seymour, Skylink, and others.
Industry News:
Lutron Adds an Outdoor Smart Plug to its Caséta Smart Lighting Control System
January 11th, 2021– Caséta by Lutron, the industry’s most connected smart lighting control system, is taking smart control to a new level. Lutron Electronics, the global leader in lighting and shading controls, is announcing the addition of the Caséta Outdoor Smart Plug. The outdoor smart plug is IP-65 rated, with best-in-class, solid core construction to protect the device’s inner electronics against the finest dust and heaviest rainfall. The outdoor smart plug is built to last and can withstand severe weather season after season.
Smart Light Switches and Plugs Market provides details by vendors, including company total revenue (financials), company overview, market potential, global presence, his business report briefly talks about market performance of each business sector covering growth factors and sales volume. this analysis provides the This Smart Light Switches and Plugs Market analysis report provides recent trends, granular level data covering market size and share. It provides all the recent updates about CORONA virus and its impact on world economy and human health. By getting this data, key players can obtain profit making and right business opportunities for future growth. Its further guides to increase the product demand and business expansion.
What are the major Applications, Types and Regions for Smart Light Switches and Plugs Market?
By Type, it is segmented into
By Applications it is segmented into
- Residential Use
- Commercial Use
- Industrial Use
Smart Light Switches and Plugs Market Regional Analysis
In terms of growth rate in the global market for smart plugs, North America has been exceeding all other regions. The widespread adoption of technologically improved products among customers, as well as the average disposable income of the people, have contributed to such sales growth.
Smart homes are on the rise in North America, with almost 30 million US households expected to incorporate smart home technologies in the near future. Customers are eager to add video doorbells, connected cameras, connected light bulbs, smart locks, and smart speakers to their homes, which could lead to the rise of the smart plug market.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
The Smart Light Switches and Plugs Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Smart Light Switches and Plugs Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Smart Light Switches and Plugs Market report scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 32% during the review period (2022 to 2027).
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By Type
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By Application
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- Residential Use
- Commercial Use
- Industrial Use
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By Companies
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AmerTac, ABB(Cooper Industries), GE, HeathZenith, Honeywell, Hubbell, Leviton, Lutron, Lightolier, Belkin, Legrand, Pass & Seymour, Skylink
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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158
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Smart Light Switches and Plugs Report
- Evaluate Smart Light Switches and Plugs market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Smart Light Switches and Plugs market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
Frequently Asked Questions
What is the study period of this market?
The Smart Light Switches and Plugs Market is studied from 2017 - 2027.
What is the growth rate of Smart Light Switches and Plugs Market?
The Smart Light Switches and Plugs Market is growing at a CAGR of 32% over the next 5 years.
Who are the key players in Smart Light Switches and Plugs Market?
AmerTac, ABB(Cooper Industries), GE, HeathZenith, Honeywell, Hubbell, Leviton, Lutron, Lightolier, Belkin, Legrand, Pass & Seymour, Skylink
What region does this Smart Light Switches and Plugs Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Smart Light Switches and Plugs Market?
Switches, Plugs
What are the major end-use applications of Smart Light Switches and Plugs Market?
Residential Use, Commercial Use, Industrial Use
