Dublin, Feb. 02, 2021 (GLOBE NEWSWIRE) -- The "Smart Plug - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The publisher brings years of research experience to the 6th edition of this report. The 144-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Smart Plug Market to Reach $15 Billion by 2027
Amid the COVID-19 crisis, the global market for Smart Plug estimated at US$1.8 Billion in the year 2020, is projected to reach a revised size of US$15 Billion by 2027, growing at a CAGR of 35.3% over the analysis period 2020-2027.
Innovators, one of the segments analyzed in the report, is projected to record a 34.3% CAGR and reach US$5.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Early Adopters segment is readjusted to a revised 33.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $543.2 Million, While China is Forecast to Grow at 34.3% CAGR
The Smart Plug market in the U.S. is estimated at US$543.2 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2027 trailing a CAGR of 34.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 31.9% and 30.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 24.9% CAGR.
Early Majority Segment to Record 36.3% CAGR
In the global Early Majority segment, USA, Canada, Japan, China and Europe will drive the 36.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$777.6 Million in the year 2020 will reach a projected size of US$6.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.8 Billion by the year 2027.
Competitors identified in this market include, among others:
Belkin International, Inc.
EDIMAX Technology Co., Ltd.
iSmart Alarm, Inc.
Leviton Manufacturing Co., Inc.
SDI Technologies, Inc.
TP-LINK Technologies Co., Ltd.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Global Competitor Market Shares
Smart Plug Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Total Companies Profiled: 46
For more information about this report visit https://www.researchandmarkets.com/r/g91yxo
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