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The smart plug market size is forecast to increase by USD 22.8 billion at a CAGR of 48.4% between 2023 and 2028. The market is witnessing significant growth due to the increasing adoption of smart home gadgets and home automation. Energy monitoring and automation are key features driving the demand for Wi-Fi-based smart plugs. Manufacturers are differentiating their products by integrating connectivity and advanced features. However, security concerns and a lack of technological awareness among consumers are hindering the mass adoption of smart plugs. The home automation industry is promoting these devices through trade exhibitions and collaborations with retailers. As the market matures, it is expected that the focus will shift towards enhancing user experience and addressing security issues to boost consumer confidence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Connectivity
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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