San Francisco, California, October 18, 2018: A recent report by TMR Research, titled, “Smart Plug Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” states that the market for the versatile devices is set to see a healthy upswing because of the popularity of smart devices. Using Internet of Things (IoT), in which a host of miniaturized sensors gather information on the various aspects of the immediate surroundings, and send those to machines such as computers and smartphones to be analyzed smart plugs enable users to take actions remotely.
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The report informs that the smart plugs can be operated through an app so that certain functionalities can be achieved automatically. Using such automatic triggers, the safety of a home can be enhanced. It can remotely help control home appliances, namely television, air conditioners, lamp, cable box, fan, coffee machines, and others. In this way they are a great way to thwart unnecessary wastage of energy. Advantages such as these are predicted to boost demand in the global smart plug market.
With smart homes getting popular, the global smart plug market is also set to receive a major fillip. Another factor serving to have a positive influence on it is the thrust on research and development which has led to the launch of many new and improved products such as Wi-Fi smart plugs.
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Currently, the global smart plugs market is mainly being driven by the residential end use segment. They are generating most of the demand in the market since it is less costly to own than built-in smart appliances.
Geographically, North America currently accounts for a leading share in the global smart plugs market because of the early adoption of latest technology in the region.
The overall market worldwide is diversified and some of the noteworthy players in it are Belkin International, EDIMAX Technology, Insteon, and Etekcity.