Smart Power Sockets Market: Competitive Analysis, Market Trends and Forecast to 2031

Market Overview and Report Coverage

Smart Power Sockets are advanced electrical outlets that can be controlled remotely through a smartphone or voice command. These sockets can be programmed to turn on or off at specific times, monitor energy consumption, and even provide surge protection. The convenience and energy-saving capabilities of Smart Power Sockets have made them increasingly popular in households and commercial buildings.

The current outlook for the Smart Power Sockets Market is positive, with a projected growth rate of % during the forecasted period. The demand for smart home devices and increasing awareness about energy efficiency are driving the market growth. The future of Smart Power Sockets looks promising, with continuous advancements in technology leading to improved features and compatibility with other smart devices.

Market forecast for Smart Power Sockets indicates steady growth, with a focus on energy efficiency and home automation trends. The latest market trends include integration with voice assistants, enhanced wireless connectivity, and increased compatibility with smart home systems. Overall, the Smart Power Sockets Market is expected to witness significant expansion in the coming years.

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Market Segmentation

The Smart Power Sockets Market Analysis by types is segmented into:

• Wifi
• Bluetooth
• Other

Smart power sockets are available in various types, including WiFi, Bluetooth, and other markets. WiFi-enabled sockets allow users to control their devices remotely through a smartphone or voice assistant. Bluetooth sockets offer a more localized control within a specific range. Other market options may include Zigbee, Z-Wave, or proprietary protocols. Each type offers unique features and benefits, catering to different user preferences and needs for smart home automation and energy efficiency.

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The Smart Power Sockets Market Industry Research by Application is segmented into:

• Household
• Commercial

Smart power sockets are increasingly being used in both household and commercial settings. In households, these sockets provide convenience by allowing users to remotely control their appliances and devices. In commercial settings, they offer energy-saving benefits by allowing for more efficient control of power usage. Overall, smart power sockets are gaining popularity in both markets due to their ability to enhance convenience, efficiency, and energy savings.

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In terms of Region, the Smart Power Sockets Market Players available by Region are:

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

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What are the Emerging Trends in the Global Smart Power Sockets market?

The global smart power sockets market is witnessing several emerging and current trends. One of the key trends is the increasing adoption of smart home technologies, leading to the integration of smart power sockets into smart home ecosystems. Another trend is the rising demand for energy-efficient solutions, driving the development of smart power sockets with advanced energy monitoring and management capabilities. Additionally, the growing popularity of voice-controlled assistants and smart speakers is driving the demand for smart power sockets that can be controlled via voice commands. Overall, the market is expected to continue growing as consumers seek more convenient and energy-efficient home automation solutions.

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Major Market Players

Ankuoo, founded in 2011, offers a range of smart power sockets that can be controlled remotely via a smartphone app. The company has been experiencing steady growth in the smart home market, with a focus on providing affordable solutions for consumers.

Belkin, a well-known name in the smart home industry, offers a range of smart power sockets under its Wemo brand. Belkin has seen significant market growth in recent years, driven by its reputation for quality and innovation in the smart home sector.

iDevices, founded in 2009, is another key player in the smart power sockets market. The company has been at the forefront of developing innovative smart home solutions, including power sockets that can be controlled via voice commands using smart assistants like Amazon Alexa and Google Assistant.

In terms of sales revenue, Belkin's parent company, Foxconn, reported sales of $176 billion in 2020. While specific sales figures for Belkin's smart power sockets are not publicly available, the company's strong market presence suggests that it is a major player in the industry.

Overall, the smart power sockets market is experiencing steady growth, driven by increasing consumer demand for smart home solutions that offer convenience, energy efficiency, and security. With key players like Ankuoo, Belkin, and iDevices leading the way with innovative products and solutions, the market is expected to continue expanding in the coming years.

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