The Latin America, Middle East and Africa Smart Plug Market would witness market growth of 34.9% CAGR during the forecast period (2022-2028).
In the upcoming years, the easy and affordable accessibility of smart plugs is also anticipated to promote market expansion. Additionally, the growing use of the internet of things (IoT)-based apps has made it possible to remotely control electronic gadgets. This aspect could ultimately increase demand for smart plugs by increasing demand for the smart home.
The building blocks of a "smart house" are thought to be smart plugs. All user has to do is insert the smart plug into an outlet and use the appropriate app on a tablet or smartphone to connect it to Wi-Fi network. Simply plug in an appliance, such as a lamp or a fan, to smart plug once it is connected, and use the app voice to operate it from there. The purpose of a smart plug is to make ordinary home appliances and electronics "intelligent." They don't need a hub, just reliable Wi-Fi. A companion app is typically included with smart plugs and is simply downloaded from the Apple App Store or Google Play Store. Smart plugs may appear a Fitbit big, but they instantly fit in with the decor of the house.
One of the highest energy consumption rates worldwide is seen in the United Arab Emirates. Eco-efficiency and eco-innovations are at the front of the sustainability goals in the majority of nations since the energy sector is the focal point of the majority of environmental issues facing the world today. The "Green Economy for Sustainable Development" program of the United Arab Emirates (2012–2021) seeks to establish the nation as a hub for the export and re-export of green goods and technologies. The purpose of this study is to present a smart plug system for monitoring and managing household energy use using a mobile application in light of the aforementioned information. The smart plug system is a crucial part of smart grids since it gives distribution companies real-time, high-resolution information to help them make decisions.
The Brazil market dominated the LAMEA Smart Plug Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $19.9 million by 2028. The Argentina market is exhibiting a CAGR of 35.7% during (2022 - 2028). Additionally, The UAE market would showcase a CAGR of 34.6% during (2022 - 2028).
Based on Product, the market is segmented into Wi-Fi and Bluetooth. Based on Application, the market is segmented into Household, Commercial, and Industrial. The report also covers geographical segmentation of Smart Plug market. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Smart Plug Market is Predict to reach $1.4 Billion by 2028, at a CAGR of 32.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Xiaomi Corporation, Panasonic Corporation, Belkin International, Inc., D-Link Corporation, Lenovo Group Limited, Etekcity Corporation, Ashtead Group PLC, Leviton Manufacturing Co., Inc., TP-Link Technologies Co. Ltd., and SDI Technologies, Inc.
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