The Europe Smart Wiring Devices Market would witness market growth of 10.1% CAGR during the forecast period (2022-2028).
Demand for wiring devices is mainly driven by the increasing popularity of smart city initiatives, which are currently implemented in the Germany, and the United Kingdom. Supporting smart city initiatives and vying for a larger market share are numerous established firms. In addition, between companies and residences, innumerable utilities are already connected via foundations. With many clients interested in installing smart wiring devices, market-active enterprises are investing and focusing on providing more complex goods.
Smart switches are most appropriate when there are numerous ceiling lights in one or more rooms. Smart switches link to a home's Wi-Fi network and can manage the lights via a smartphone, tablet, or voice-activated smart speaker. It consists of light, motion, and touchscreen sensors that may be used for operations like automatically switching on the lights when motion is detected, adjusting the lights & dimmer, and receiving notifications when away from home.
The Manchester Digital Development Agency (MDDA) is responsible for the city's smart initiatives, consistent with the 2008-launched Manchester Digital Strategy. MDDA focuses on programs that prioritize people. They include efforts that promote digital inclusivity (including Go ON Manchester and EastServe), stimulate the development of open data apps via Hackathons, and promote citizen participation in the city's future planning (through the Manchester Living Lab). Also, the city has carried out various EU-funded initiatives, notably DEHEMS58. In addition, it is partnering with some EU cities and programs, including the European Network of Living Labs and the European Connected Smart Cities network. These ongoing smart city projects present growth prospects for the market for smart wiring devices in Europe.
The Germany market dominated the Europe Smart Wiring Devices Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $982.6 Million by 2028. The UK market is anticipated to grow at a CAGR of 9.2% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 10.9% during (2022 - 2028).
Based on Product Type, the market is segmented into Smart Switches, Smart Outlets, Smart Dimmers, Smart Thermostat and Others. Based on Application, the market is segmented into Residential, Commercial and Industrial. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Smart Wiring Devices Market will Hit $14.4 Billion by 2028, at a CAGR of 10.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Schneider Electric SE, Siemens AG, ABB Ltd., Honeywell International, Inc., Control4 Corporation (Snap One Holdings Corp.), Crestron Electronics, Inc., Legrand Group, Johnson Controls International plc, Lutron Electronics Co., Inc, and Leviton Manufacturing Co., Inc.
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