According to a new report, published by KBV research, The Global Smart Wiring Devices Market size is expected to reach $14.4 billion by 2028, rising at a market growth of 10.6% CAGR during the forecast period.
The Smart Dimmers segment is showcasing a CAGR of 11% during (2022 - 2028). The advent of smart lighting systems for streets, sensor technologies, and lighting control technologies is projected to increase the market for smart dimmers. In addition, it is anticipated that integrating current LED and Bluetooth technologies will fuel the segment's growth.
The Residential segment acquired maximum revenue share in the Global Smart Wiring Devices Market by Application in 2021 thereby, achieving a market value of $7.5 billion by 2028. This is because more and more people are using home security systems, which employ these gadgets as sporadic cameras or listening devices with sound-activated features. In addition, depending on the user's intelligence requirements, they are also utilized in home automation projects that let users operate various appliances through computers or smartphones employing Z-Wave technology or the ZigBee protocol (LIR).
The North America market dominated the Global Smart Wiring Devices Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5 billion by 2028. The Asia Pacific market is exhibiting a CAGR of 11% during (2022 - 2028). Additionally, The Europe market would showcase a CAGR of 10.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/smart-wiring-devices-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
By Product Type
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By Geography
Companies Profiled
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