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Smart Plug Market Size To Reach $20.84 Billion By 2028, To Be Driven By Rising Popularity Of Smart Homes & Technological Innovation In Home Automation


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FELTON, Calif., April 21, 2021 /PRNewswire/ The global smart plug market size is expected to reach USD 20.84 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 36.2% from 2021 to 2028.
What are Key Factors Driving the Smart Plug Market?
The rising popularity of smart homes, technological innovation in home automation, and consumers inclination toward a digitally comfortable lifestyle are expected to drive the market. Smart plug is gaining popularity as it offers several benefits such as monitoring and operating home appliances remotely and energy monitoring of individual devices, thus resulting in energy and cost savings. Technological advancement in the internet of things (IoT), innovative product launches, growing investment from major market players, and consumers willingness to buy smart home applications are expected to fuel the expansion of the market globally. ....

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