With the emergence and long-term Impact of COVID-19, Global Smart Wiring Devices Market to reach USD 19.91 billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Smart Wiring Devices Market points towards a potential rise to USD 19.91 billion by 2030. Smart wiring devices are electrical components that have integrated advanced technologies, enabling them to communicate, interact, and be remotely controlled or automated. These devices have features such as wireless connectivity, sensors, and smart functionality. Smart wiring devices are often part of a larger smart home or building automation system, allowing users to monitor and control their electrical infrastructure through smartphones, tablets, or voice commands. The Smart Wiring Devices Market is expanding because of factors such as rising adoption of smart homes, growing demand for smart cities and growth of the Internet of Things (IoT).
Geographically, the global Smart Wiring Devices market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing rising development of smart homes, rising technological advancement, rising government support for the industrial automation, and rising smart city initiatives in the region. Whereas, Asia Pacific is projected to grow at the fastest rate owing to factors such as rising construction of industrial buildings, rising urbanization, and development of smart homes in the region.
The global Smart Wiring Devices market is highly competitive owing to the presence of several key players such as Schneider Electric Siemens AG Honeywell International Inc. Lutron Electronics Co., Inc, ABB Ltd. Johnson Controls International PLC Control4 Corporation Eaton Corporation Leviton Manufacturing Co., Inc. Hubbell Incorporated and others.
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Key findings of the study suggest:
- Global Smart Wiring Devices Market is anticipated to grow with a healthy growth rate of more than 11.9% over the forecast period 2023-2030.
- In the Product segment, Smart Switches emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to rising development of smart homes in the region.
- Asia Pacific is expected to grow at higher rate owing to rising construction of industrial buildings in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Product:
- Smart Switches
- Smart Dimmers
- Smart Thermostat
- Smart Outlets
- Others
By Application:
- Residential
- Commercial
- Industrial
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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