Smart Wi-Fi Power Strip Market Industry Demand, Current and Future Plans by Forecast 2020 to 2027

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.

Some 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.
• The smart wi-fi power strip market in Asia Pacific is projected to register the highest revenue growth rate during the forecast period, owing to many favorable factors. Changing lifestyles, increasing purchasing power of consumers, particularly in the developing countries like China and India, growing adoption of home automation devices, and rising demand for high-end and high-performance electronic devices are the major factors driving the Asia Pacific market growth.
• 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.

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

• Regional Outlook (Revenue, USD Billion; 2018-2028)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. India
    4. South Korea
    5. Rest of the Asia Pacific
  • Latin America
    1. Brazil
    2. Rest of Latin America
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Rest of the Middle East & Africa