Asia Pacific Smart Wiring Devices Market Size, Share & Industry Trends Analysis Report By Product Type (Smart Switches, Smart Outlets, Smart Dimmers, Smart Thermostat), By Application (Residential, Commercial and Industrial), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Smart Wiring Devices Market would witness market growth of 11.0% CAGR during the forecast period (2022-2028).
The availability of a smart device application for download is one of the best characteristics of smart switches. The application enables individuals to operate the lights directly wired to the switch from their smartphone, laptop, or other mobile devices. This assures that they will never need to use the physical switch to switch the lights on or off if they're away from home, whether at work or traveling; they can simply turn on or off the lights to make it seem like they are present.
Smart homes are all about efficiency, optimization, and ease. Lowering energy costs typically requires a proactive approach rather than a "set it and forget it" method. The majority of smart wiring equipment, including Wi-Fi outlets and smart thermostats, may be monitored and programmed by the user to meet their demands and maximize performance. In addition to being remote-controllable, intelligent thermostats provide consumption and performance data. This real-time data is beneficial and assists users in comprehending system performance, allowing them to maximize efficiency and reduce overall utility expenses.
The foundation of the Smart Cities Mission of the Indian government is a comprehensive, long-term development plan. The mission's objective is to create a repeatable model that will hasten the development of other regions of the country's Smart Cities. Also, in 2015, the Indian government launched the 100 Smart Cities project. With the intention of becoming a global digital hub, Singapore's government released a Smart Nation Plan in 2017. In addition, the administration is working on using internet of things solutions to enhance city living. According to estimates, all of these smart city projects will aid in expanding the APAC region's market for smart wiring devices.
The China market dominated the Asia Pacific Smart Wiring Devices Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,247.5 Million by 2028. The Japan market is estimated to grow a CAGR of 10.3% during (2022 - 2028). Additionally, The India market would experience a CAGR of 11.7% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Smart Wiring Devices Market is Projected to reach USD 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.
Scope of the Study
Market Segments Covered in the Report:
By Product Type
- Smart Switches
- Smart Outlets
- Smart Dimmers
- Smart Thermostat
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- 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,
- Leviton Manufacturing Co., Inc.
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Global Smart Wiring Devices Market Report 2022-2028
North America Smart Wiring Devices Market Report 2022-2028
Europe Smart Wiring Devices Market Report 2022-2028