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Smart Wi-Fi Power Strip Market : Key Success Factors and Business Strategies #784
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The latest research report by Emergen Research, named ‘Global Smart Wi-Fi Power Strip Market - Forecast to 2030. The coronavirus outbreak has led to drastic changes in the current Smart Wi-Fi Power Strip Market business landscape, limiting the growth opportunities for various manufacturers and buyers for the next few years. Besides making speculations about the market’s post-COVID-19 scenario, the report discusses its existing situation. The report eventually offers conclusive data related to the Smart Wi-Fi Power Strip Market growth assessed on both regional and global levels.
The global smart wi-fi power strip market size is expected to reach USD 4.95 billion by 2028 at a CAGR of 19.8%, according to a new report by Emergen Research. Substantial increase in market revenue can be attributed to growing adoption of smart homes and home automation devices, increasing compatibility of power strips with virtual assistants such as Alexa, Cortana, Siri, or Google Assistant, improved Wi-Fi connectivity for home and office settings, and rising focus on safety of smart home appliances.
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Drivers of Growth in the Smart Wi-Fi Power Strip Market
The Smart Wi-Fi Power Strip market is experiencing significant growth driven by the increasing adoption of smart home technology and the demand for energy-efficient, connected devices. Smart Wi-Fi power strips, also known as smart power outlets or smart surge protectors, integrate Wi-Fi connectivity and intelligent features to enable users to remotely control and monitor their electrical devices via smartphone apps or voice commands. These devices offer users the ability to schedule power on/off times, monitor energy usage, and even integrate with smart home ecosystems for enhanced automation and energy management. With the proliferation of smart devices and the growing focus on energy conservation, the Smart Wi-Fi Power Strip market is poised for substantial expansion.
Restraints Hindering Market Growth
Several factors are driving the growth of the Smart Wi-Fi Power Strip market. Firstly, the increasing adoption of smart home technology and the desire for interconnected, automated homes are driving demand for smart power strips that can enhance convenience and energy efficiency. Smart Wi-Fi power strips offer users the ability to control multiple devices from a single interface, reducing standby power consumption and optimizing energy usage. Additionally, the integration of voice assistants such as Amazon Alexa, Google Assistant, and Apple HomeKit with smart power strips enables hands-free control and voice-activated commands, enhancing user experience and accessibility. Moreover, the rising awareness of energy conservation and the need to reduce electricity costs are driving consumers and businesses to invest in smart power strips as part of their energy management strategies.
Key players operating in the market are
TP-Link (Kasa Smart), Felion Technologies Company Limited (Vocolinc), D-Link Corporation, ConnectSense, Aracky, Belkin, Lasco, Lanberg, Teckin, Acme, Gosund, myLumii, Lexsong, and LeFun are some of the top companies operating in the global smart wi-fi power strip market.
Segmentation :
For the purpose of this report, the global smart wi-fi power strip market is segmented on the basis of product type, application, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
Indoor power strip
Outdoor power strip
Application Outlook (Revenue, USD Billion; 2018-2028)
Household
Commercial
Industrial
Others
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
Online channels
Offline Stores
To get access to the complete report on the Smart Wi-Fi Power Strip Market , click on the link mentioned here: @ https://www.emergenresearch.com/industry-report/smart-wifi-power-strip-market
The report classifies the global Smart Wi-Fi Power Strip Market into various regions, including:
North America (U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market. The rising demand for the Smart Wi-Fi Power Strip Market products is expected to drive the demand for Smart Wi-Fi Power Strip Market , thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter's Five Force analysis.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.