Market Overview:
The global smart power strips market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy-efficient devices and appliances, rising awareness about energy conservation, and growing demand for smart home solutions. The global smart power strips market can be segmented on the basis of type, application, and region. On the basis of type, the market can be divided into three segments: price ＜30 USD, price 31-50 USD, and price ＞50 USD. Of these segments, the segment with prices ＜30 USD is expected to account for a major share of the global smart power strips market during the forecast period owing to its low cost as compared to other types of Smart Power Strips available in the market. On the basis of application, three segments are present in this market: household applications; commercial applications; industrial applications.
Product Definition:
A Smart Power Strip is a power strip with built-in features that allow you to control how much energy your devices use.
Smart power strips usually have a sensor that detects when a device is turned on or off and then activates or deactivates the power strip accordingly.
This allows you to save energy by automatically shutting off devices when they're not in use.
Smart power strips can also be programmed to turn on or off at specific times, which can help you save energy and money on your electricity bill.
Price,＜30 USD:
The price is expected to remain the same over the forecast period. 30 USD is a fixed price for all power strips with smart features. It includes an average manufacturing cost of electronics and components, in addition to marketing and distribution costs. The cost of raw materials varies based on their availability, which affects pricing strategies in various industries including electrical & electronics industry.
Price, 31-50 USD:
I have been using Price 31-50 USD for my power strips and it works fine. I was looking to use a different price range between 30-50 USD as some of the other prices i tried were not working.
Application Insights:
The commercial application segment accounted for the largest share of more than 50.0% in 2017 and is projected to witness significant growth over the forecast period. The growing adoption of smart power strips in hotels, hospitals, restaurants and other commercial establishments on account of enhanced safety features coupled with ease of management is expected to drive demand over the coming years.
Industrial application segment was valued at USD 281.5 million in 2017 owing to wide-scale deployment across manufacturing facilities for monitoring & controlling electrical equipment remotely and increasing efficiency through automated systems as well as improved safety measures against accidents or incidents such as fire & floods due to excess water penetration along with ease of installation and maintenance activities.
Regional Analysis:
The North American regional market accounted for the largest revenue share in 2017. The region is expected to maintain its dominance over the forecast period owing to increasing adoption of smart power strips by consumers and vendors. Increasing demand for energy-efficient products, along with growing concerns regarding carbon footprints, is likely to drive product demand in this region.
Asia Pacific regional market is anticipated to register a significant growth rate from 2018 to 2030 due to increasing awareness among users regarding benefits offered by these devices such as saving energy and reducing carbon footprint caused by conventional power outlets. In addition, rising number of construction activities coupled with rapid urbanization across emerging economies including China and India are projected favorably impact industry growth over the coming years.
Growth Factors:
- Increasing demand for smart and energy-efficient devices
- Rising awareness about the benefits of using smart power strips
- Growing popularity of home automation and IoT technologies
- Proliferation of online retail platforms that offer discounts on smart power strips
- Government initiatives and regulations supporting the adoption of energy-efficient technologies
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Power Strips Market Research Report
By Type
Price,＜30 USD, Price, 31-50 USD, Price, ＞50 USD
By Application
Household, Commercial, Industrial
By Companies
Fujitsu, Gosund, Revogi, Kasa, Lasco, Homeflow, TrickleStar, TP-Link, Manzoku, Lexsong, Heyvalue, Teckin, Shenzhen Posher Electric Co
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
195
Number of Tables & Figures
137
Customization Available
Yes, the report can be customized as per your need.
Global Smart Power Strips Market Report Segments:
The global Smart Power Strips market is segmented on the basis of:
Types
Price,＜30 USD, Price, 31-50 USD, Price, ＞50 USD
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Household, Commercial, Industrial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Fujitsu
- Gosund
- Revogi
- Kasa
- Lasco
- Homeflow
- TrickleStar
- TP-Link
- Manzoku
- Lexsong
- Heyvalue
- Teckin
- Shenzhen Posher Electric Co
Highlights of The Smart Power Strips Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Price,＜30 USD
- Price, 31-50 USD
- Price, ＞50 USD
- By Application:
- Household
- Commercial
- Industrial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Power Strips Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart Power Strips are a type of power strip that can be controlled using an app on a smartphone. They allow users to manage their electricity usage and save money by switching off devices when they're not in use.
Some of the major companies in the smart power strips market are Fujitsu, Gosund, Revogi, Kasa, Lasco, Homeflow, TrickleStar, TP-Link, Manzoku, Lexsong, Heyvalue, Teckin, Shenzhen Posher Electric Co.
The smart power strips market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Power Strips Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Smart Power Strips Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart Power Strips Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Smart Power Strips Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Smart Power Strips Market Size & Forecast, 2020-2028
4.5.1 Smart Power Strips Market Size and Y-o-Y Growth
4.5.2 Smart Power Strips Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Price
5.2.2 ＜30 USD
5.2.3 Price
5.2.4 31-50 USD
5.2.5 Price
5.2.6 ＞50 USD
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Household
6.2.2 Commercial
6.2.3 Industrial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart Power Strips Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Smart Power Strips Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Price
9.6.2 ＜30 USD
9.6.3 Price
9.6.4 31-50 USD
9.6.5 Price
9.6.6 ＞50 USD
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Household
9.10.2 Commercial
9.10.3 Industrial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Price
10.6.2 ＜30 USD
10.6.3 Price
10.6.4 31-50 USD
10.6.5 Price
10.6.6 ＞50 USD
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Household
10.10.2 Commercial
10.10.3 Industrial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Price
11.6.2 ＜30 USD
11.6.3 Price
11.6.4 31-50 USD
11.6.5 Price
11.6.6 ＞50 USD
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Household
11.10.2 Commercial
11.10.3 Industrial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Price
12.6.2 ＜30 USD
12.6.3 Price
12.6.4 31-50 USD
12.6.5 Price
12.6.6 ＞50 USD
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Household
12.10.2 Commercial
12.10.3 Industrial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Price
13.6.2 ＜30 USD
13.6.3 Price
13.6.4 31-50 USD
13.6.5 Price
13.6.6 ＞50 USD
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Household
13.10.2 Commercial
13.10.3 Industrial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Smart Power Strips Market: Competitive Dashboard
14.2 Global Smart Power Strips Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Fujitsu
14.3.2 Gosund
14.3.3 Revogi
14.3.4 Kasa
14.3.5 Lasco
14.3.6 Homeflow
14.3.7 TrickleStar
14.3.8 TP-Link
14.3.9 Manzoku
14.3.10 Lexsong
14.3.11 Heyvalue
14.3.12 Teckin
14.3.13 Shenzhen Posher Electric Co
