Global Smart-Connected Power Plug Socket Market 2017-2021
About Smart-Connected Power Plug Socket
Smart-connected power plug sockets are used to connect a device, appliance, or equipment to an electrical power source. These sockets can be connected to smartphones, tablets, or any other Internet-enabled device. Power supply to the object can be controlled by the user without physically connecting the device to the power supply port. The global smart-connected power plug sockets market encompasses key regions such as the Americas, EMEA, and APAC. These regions include key countries such as the US, Germany, the UK, France, Japan, and Canada. By technology, the market is divided among Wi-Fi, Bluetooth, and others. The key distribution channel comprises offline and online mediums.
Technavio’s analysts forecast the global smart-connected power plug socket market to grow at a CAGR of 7.43% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart-connected power plug socket market for 2017-2021. To calculate the market size, the report considers the sales value of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smart-Connected Power Plug Socket Market 2017-2021
Technavio recognizes the following companies as the key players in the global smart-connected power plug socket market: Aeon Labs, Azpen Innovation, Belkin International, D-Link Systems, and Honeywell International
Other Prominent Vendors in the market are: adesso, BroadLink, ITEAD Intelligent Systems, Leviton Manufacturing, and SAFEMORE.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Digital marketing and social media campaigns. With the growth in Internet technology and innovations in Internet applications, there has been a radical change in the promotional and marketing activities of vendors in the market. Unlike the past decades, where print media and radio communication were the only sources of communication, digital marketing campaigns and promotional activities are gaining popularity in the market. Such campaigns and activities are now executed on digital platforms such as YouTube, Facebook, LinkedIn, Instagram, and Pinterest.”
According to the report, one of the major drivers for this market is Increase in adoption of smart home solutions. The growing need for a convenient and comfortable lifestyle has led to the exponential development of residential automation systems. Along with home automation systems, smart homes can keep a check on the security systems, lighting, and entertainment systems. In addition, home automation systems also enable a user to monitor and control all appliances with the help of a controller that is operated through the Internet. Many vendors are also offering home automation systems with remote access through smartphones and other mobile computing devices. Thus, owing to such factors, smart home adoption is increasing across the globe, which increases the adoption of smart home solutions.
Further, the report states that one of the major factors hindering the growth of this market is High pricing of product. The average price of a smart-connected power plug sockets is relatively higher than that of the conventional power plug sockets. It has been seen that the demand for smart-connected power plug sockets in countries such as Germany, the US, the UK, Germany, France, and Canada is high. This is because of the concentration of the premium consumer segment, including UHNWIs, is higher in these countries when compared with developing countries such as India, China, and Japan. The demand for smart home and home furnishing is growing exponentially in developed countries. In developing countries, smart homes are not very popular among consumers. Moreover, the purchasing power of residential consumers is also comparatively low. Therefore, these factors deter the value and volume sales of the product, which adversely affect the global market of smart-connected power plug sockets.
Aeon Labs, Azpen Innovation, Belkin International, D-Link Systems, and Honeywell International, adesso, BroadLink, ITEAD Intelligent Systems, Leviton Manufacturing, and SAFEMORE.
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