28 January 2019 - Smart Outlet
Market growth is anticipated at a higher CAGR and is fueled by factors such
as energy saving and emission reducing devices. In fact, modern homes offer
electricity to electrical devices via conventional power junction. Power
sockets are not much evolved as fast as everyday devices; despite they tend to
be one of the better solutions for smart homes, since the concept of smart
homes is gaining traction.
In
the recent years, several functionalities have been added to power sockets,
such as wireless control or monitoring the current consumption. There can be
other better alternatives in terms of smart devices such as smart power sockets
and smart power outlet or in case just a smart outlet.
Technically,
a smart power socket uses a Wi-Fi based power outlet that can switch on and off
the power from outlet. Common examples include My Plug, Meter Plug, Safe Plug,
Smart Plug and Plug Wise. Safe Plug is one of the most advanced off-the-shelf
developments as it can switch on/off the power and constantly monitors current
consumption in real-time and identifies appliances to avert electrical shocks
and fires. The above-mentioned power sockets have common functionalities but
there is a small difference of proprietary wireless technology. Also, a smart
outlet needs a regular home circuit breaker in case of instant reaction by a
smart power outlet.
Power
outlets usually need different safety measures to prevent electrical shocks.
Most common ones include addition of a third prong which minimizes the risk of
electric shock and guards the equipment from electrical damage. Power sockets
are also encapsulated into a tamper resistant receptacle which prevents
insertion of objects. There are power outlets which assist in reducing the
electrical shocks when an arc fault occurs in the circuit. Other type includes
prevention of shocks by shutting off the power when electricity flowing through
the circuit is much superior to the one is returning. Overall, with such
advantages possessed by power outlets, the demand for smart homes coupled with
smart outlets augments the market growth for the forecast period.
Smart
outlet market driving factors is inclusive of rising demand for safety in
electrical home devices and the need for more sophisticated electrical
infrastructure in smart cities. Additionally, the concept of smart outlet is
derived from smart homes which helps in flourishing of the market during the
assessment period. On the basis of type, the smart outlet market is segmented
into reading socket, regular socket and remote control socket. On the basis of
application, the smart outlet market is segmented into household and
commercial.
On
the basis of geographic segmentation, the smart outlet market spans North
America, Latin America, Europe, China, South-East Asia, Japan, Middle-East
& Africa. APAC regions dominate the market owing to innovation in
electrical devices. China and Japan are anticipated to grow at a higher CAGR
during the assessment period. Market in North America, Latin America and
Middle-East regions is also expected to rise at a rapid rate owing to rising
demand for self-sustaining and low carbon emission devices.
The
key players in the smart outlet market include Wemo Insight, GE, ABB, Samsung,
Quirky Outlink, Nyrius, Heath-Zenith, Belkin, Securifi Peanut, Apple Homekit,
Shenzhen Orvibo Electronics Co. Ltd, Amcrest and IRIS.
Market Segment:
Geographically, this report is segmented
into several key Regions, with production, consumption, revenue (million USD),
market share and growth rate of Smart Outlet in these regions, from 2013 to
2025 (forecast), covering
•
North America
•
Europe
•
China
•
Japan
•
Southeast Asia
•
India
Global Smart Outlet market competition
by top manufacturers, with production, price, revenue (value) and market share
for each manufacturer; the top players including
•
Wemo Insight
•
GE
•
ABB
•
samsung
•
Quirky Outlink
•
Nyrius
•
Heath-Zenith
•
Belkin
•
Securifi Peanut
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