Bluetooth Smart Plugs Market Expected to Reach $5.38 Billion By 2030

WILMINGTON, DE, UNITED STATES, November 28, 2024 /EINPresswire.com/ -- Allied Market Research, titled, “Bluetooth Smart Plugs Market by Type, Price, and End Use: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global Bluetooth smart plugs market size was valued at $0.69 billion in 2020, and projected to reach at $5.38 billion by 2030, growing at a CAGR of 24.3% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/A13714

Bluetooth smart plugs is a small adapter that can be plugged into a regular electrical wall outlet. Once connected, the Bluetooth smart plug can be controlled remotely through an application on a smartphone. Any device or appliance that is plugged into the Bluetooth smart plug adaptor can be turned on or off by using a smartphone. It makes it easy to automate and control small appliances and devices in a building.

Some of the prime drivers of the Bluetooth smart plugs industry are the growing deployment of home automation devices, the rise in demand for convenient user experience, and the high adoption of wireless technologies, which is opportunistic for market growth. Considering these factors, the Bluetooth smart plugs market is estimated to experience steep growth in the future. However, incompatibility with some intelligent devices acts asa major barrier for the Bluetooth smart plugs market growth. The contradictory, rise in urbanization in Asia-Pacific countries is expected to create lucrative opportunities for market growth during the forecast period.

COVID-19 brought a financial crisis, which resulted in increased price sensitivity among low- and middle-income consumer groups. This is increasing the adoption of Bluetooth smart plugs as it is considered to be a low-cost energy monitoring device, which helps consumers to reduce energy consumption by monitoring their appliances.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A13714

However, the lockdown has disrupted the global supply chain for many industries, which, in turn, delayed the supply of Bluetooth smart plugs in the market. Furthermore, the decline in the number of new construction projects and the temporary closure of manufacturing plants are some of the factors hampering the growth of Bluetooth smart plugs market trends. Hence, the market witnessed slow growth during the pandemic.

Region-wise, North America holds a significant share of the global Bluetooth smart plugs market. The U.S. holds the major market share, owing to the presence of leading market players and the higher rate of technology adoption in the region.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

- In 2020, the three-hole plug segment accounted for maximum revenue and is projected to grow at a notable CAGR of 25.7% during the forecast period.
- The high segment accounted for more than 15.0% of the Bluetooth smart plugs market share in 2020.
- The residential segment of the Bluetooth smart plugs market analysis is projected to grow at a CAGR of 23.7% during the forecast period.
- North America contributed a major share in the Bluetooth smart plugs market, accounting for more than 40.0% share in 2020.

The key players profiled in the report include D-Link Corp., Belkin International Inc., Etekcity Corporation, EDIMAX Technology Co. Ltd., iSmart Alarm Inc., Insteon, Panasonic Corporation, Leviton Manufacturing Co. Inc., TP-Link Technologies Co. Ltd., and SDI Technologies Inc. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the Bluetooth smart plugs market.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A13714

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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