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.
The Global Smart Wi-Fi Power Strip Market report is a detailed study of the different segments of the market, factors driving and restraining the growth of the market, and regional landscape based on the data gathered from both primary and secondary sources of data collection, along with the research methodology employed for analysis provided in the study. The market overview, SWOT analysis, and insights into the strategies adopted by key players operating in the Smart Wi-Fi Power Strip market help understand the market forces and how those can be exploited to benefit from future opportunities.
Smart wi-fi power strips are increasingly being used to control and monitor smart home devices and appliances remotely. These devices help ensure the safety and maintenance of smart home devices and decrease the chances of malfunction or damage. These electric strips are Wi-Fi enabled and feature built-in surge protection that keeps sensitive electronic appliances safe during sudden power surges caused by extreme weather conditions. Smart wi-fi power strips are equipped with advanced voice control features, energy monitoring features, and smart outlets with in-built USB ports. These devices are ideal for controlling smart and connected devices at home or in game rooms or home office set-ups.
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In market segmentation by manufacturers, the report covers the following companies-
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.
The research study gives a comprehensive analysis of the market with the help of several analytical tools and helps identify and capitalize on the growth prospects existing in the Smart Wi-Fi Power Strip Market. It also offers accurate insights into the prevalent business strategies. The market overview gives growth estimations based on historical analysis and a detailed evaluation of the gross revenue, demand and supply dynamics, volume, market share, pricing structure, and profit margin for each market segment. The regional analysis takes into consideration the overall sales and CAGR to underline the leading companies in each regional market based on product types and product applications.
Key Highlights of the Report:
In terms of application, the global smart wi-fi power strip market is segmented into household, commercial, industrial, and others. The commercial segment is projected to register the highest revenue growth rate in the coming years. Factors contributing to the growth of this segment are increasing commercial applications of smart wi-fi power strips including use in workplaces and offices, and rising demand for these devices due to various advantages such as greater convenience, reduced power consumption, and remote access.
The global smart wi-fi power strip market comprises distributions channels including online channels and offline stores. The online channels segment emerged as the leading segment in terms of revenue in 2020. Growth of this segment can be attributed to the easy availability of smart wi-fi power strips on various online platforms such as Amazon, Flipkart, and eBay and increasing preference for online shopping due to greater convenience and availability of options, as well as good offers and discounts.
North America was the leading regional market in the global smart wi-fi power strip market in 2020. Increasing adoption of smart homes and high disposable incomes of consumers in the region are key factors driving the North America market growth to a major extent.
The report provides an in-depth study of the product, application, and regional segments of the global Smart Wi-Fi Power Strip industry. As part of the regional analysis, the report includes an assessment of the leading regions of North America, Europe, India, China, and the EMEA.
For this study, Emergen has segmented the global video doorbell market based on product type, distribution, application, and region:
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)
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
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The report offers three types of Smart Wi-Fi Power Strips and uses analytical tools like Porter’s Five Forces analysis, SWOT analysis, and both qualitative and quantitative assessment of the market. It estimates the market size in the forecast duration by studying its value, volume, market share, growth rate, and other market essentials. It gives extensive company profiles, wherein the analysts explain the expansion tactics adopted by market leaders, including both long- and short-term strategies, and other vital competitive factors of significant businesses in the global Smart Wi-Fi Power Strip market.
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Reasons to buy this report:
It evaluates a comprehensive structure and overview of the Smart Wi-Fi Power Strip Industry.
It provides accurate insights into critical factors like drivers and constraints, growth rate, value, volume, market share, and overall revenue.
It studies the growth prospects, challenges, drivers and restraints operating in the market.
It allows the reader to understand the Smart Wi-Fi Power Strip market competition by assessing the top vendors, with elaborate company profiles, gross revenue, profit margin, import-export status, and global market share.
It brings to light the pricing structure, demand and supply dynamics, value chain analysis, SWOT analysis to support the formulation of lucrative business strategies.
It lists the data sources referred to during the study, detailed research methodology and other vital findings.
The Smart Wi-Fi Power Strip Market report also includes an investment analysis and growth trend analysis to help readers maximize their return on investment. It highlights the growth opportunities existing in the global Smart Wi-Fi Power Strip market segments. It offers an extensive investigation of the import-export status and the rates of production and consumption. The Smart Wi-Fi Power Strip Market report also provides some of the essential market aspects to draw a forecast for the coming years based on the information derived as part of the historical analysis and an analysis of the current market scenario.
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