United States Smart Power Strips Market was valued at USD 0.5 Billion in 2022 and is projected to reach USD 1.0 Billion by 2030, growing at a CAGR of 12.0% from 2024 to 2030.
The US Smart Power Strips Market is experiencing rapid growth, driven by technological advancements and the increasing demand for energy-efficient solutions across various industries. Smart power strips, equipped with energy-saving features, surge in popularity due to their ability to control and manage power consumption more effectively than traditional strips. The market is segmented into various types and is seeing diverse requirements from different sectors, including residential, commercial, and industrial.
The rise in demand for connected and automated devices has significantly contributed to the expansion of the Smart Power Strips Market. Industries such as manufacturing, information technology, and consumer electronics have realized the importance of reducing energy waste. These industries often rely on a wide range of electrical equipment that runs continuously, leading to a constant need for power management. Smart power strips provide automated shut-off features, energy monitoring, and remote control, making them indispensable for reducing operational costs.
In the commercial sector, businesses are increasingly looking for solutions that not only reduce energy consumption but also enhance operational efficiency. For example, in office spaces, smart power strips can be used to control the power supply to devices such as computers, printers, and monitors, ensuring that power is only consumed when needed. This results in substantial savings in energy bills, making smart power strips highly attractive for companies looking to optimize their energy use.
In the industrial sector, the application of smart power strips goes beyond basic energy-saving. They are used to manage the large-scale power requirements of factories and warehouses, where numerous machines and devices operate simultaneously. By integrating these strips into larger power systems, industries can monitor real-time energy usage, prevent equipment overloads, and streamline power distribution. The smart power strip market caters to these specific needs, offering customizable solutions designed for heavy-duty applications.
Smart power strips are also gaining traction in residential spaces. As consumers become more environmentally conscious, they seek out products that can help reduce their carbon footprint. Smart power strips not only offer energy savings but also promote sustainability by providing consumers with easy access to data on their energy usage. This aligns with the broader trend towards smart home devices, contributing further to the growth of the US Smart Power Strips Market.
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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 US 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
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US 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. US Smart Power Strips Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Smart Power Strips Market, By Type
6. US Smart Power Strips Market, By Application
7. US Smart Power Strips Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Smart Power Strips Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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