South Korea Smart Power Strips Market was valued at USD 0.1 Billion in 2022 and is projected to reach USD 0.3 Billion by 2030, growing at a CAGR of 11.0% from 2024 to 2030.
The South Korea Smart Power Strips market is rapidly expanding due to the increasing demand for energy-efficient solutions in households and industries. These devices, designed to reduce energy consumption and enhance user convenience, have become an essential component in modern electrical systems. With the growing focus on sustainability, smart power strips have gained significant traction across various industries, including electronics, home appliances, and industrial manufacturing.
One of the key drivers of this market is the rise in awareness regarding energy conservation and the reduction of electricity bills. South Korean consumers are becoming more conscious of their energy usage, and this is reflected in the growing adoption of smart power strips. These devices are designed to automatically turn off power to connected devices when not in use, preventing energy wastage and helping to lower electricity costs. Additionally, they often come with features like surge protection and remote control via smartphone apps, providing both safety and convenience for users.
In industries, the demand for smart power strips is fueled by the need for efficient power management. Businesses are looking for ways to optimize their energy consumption and reduce operational costs. Smart power strips offer a cost-effective solution by ensuring that only the necessary devices remain powered on, while others are automatically powered off. This not only helps in reducing electricity bills but also minimizes the risk of equipment damage caused by power surges, making them an ideal choice for offices, manufacturing plants, and data centers.
Moreover, the growth of the Internet of Things (IoT) has significantly impacted the adoption of smart power strips. With the ability to connect to other smart home and office devices, these power strips offer enhanced automation and integration. Users can schedule when their devices turn on or off, set timers, and monitor their energy consumption from anywhere. As the IoT ecosystem continues to grow, the demand for such smart devices is expected to increase, contributing to the ongoing expansion of the South Korea Smart Power Strips market.
The market also benefits from advancements in technology, which are making these power strips more affordable and efficient. As manufacturers continue to innovate, consumers and businesses alike can expect even smarter, more energy-efficient products that meet the evolving needs of a technology-driven world. As more sectors seek energy-efficient solutions, smart power strips are poised to play a pivotal role in shaping the future of energy management in South Korea.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Smart Power Strips Market
Wi-Fi Enabled Smart Power Strips
Bluetooth Enabled Smart Power Strips
Voice-Controlled Smart Power Strips
USB Smart Power Strips
Residential
Commercial
Industrial
Home Users
Small & Medium Enterprises (SMEs)
Large Enterprises
Energy Management Systems
Surge Protection Technology
Automated Scheduling & Timers
Online Retail
Offline Retail
Direct Sales
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Smart Power Strips Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Smart Power Strips Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Smart Power Strips Market, By Type
6. South Korea Smart Power Strips Market, By Application
7. South Korea Smart Power Strips Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Smart Power Strips Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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