(EMAILWIRE.COM, June 07, 2023 ) Maximize Market research expects, the Smart Wiring Devices Market to grow from USD 7.5 Bn in 2021 to USD 23.42 Bn in 2029 at a CAGR of 12.06 percent.

Smart Wiring Devices Market Report Scope and Research Methodology

The objective of the study is to analyze and forecast the Smart Wiring Devices Market size. The report includes strategic profiling of significant market participants in order to accurately depict the competitive environment for the global Smart Wiring Devices market. SWOT analysis was used to provide the strengths, weaknesses, opportunities and threats in the Smart Wiring Devices industry.

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Smart Wiring Devices Market Dynamics

The market is majorly driven by the increasing adoption of technologies such as the Internet of Things (IoT), blockchain, smart speech recognition and artificial intelligence (AI). The high initial costs paired with the security concerns and lack of standardization are restraining the market growth.

Smart Wiring Devices Market Regional Insights

Europe is expected to grow at a high rate during the forecast period. The UK is expected to grow at a CAGR of 12.7 percent due to development in IoT and consumer electronics solutions.

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Smart Wiring Devices Market Segmentation

By Product Type
Smart Dimmers
Smart Switches
Smart Outlets
Smart Thermostat
Smart Sprinkler Controllers
Smart Smoke Alarms
Smart Video Doorbells
Others

By Application
Industrial
Residential
Commercial

Smart Wiring Devices Key Competitors include:

ABB Ltd.
Honeywell International Inc.
Control4 Corp
Crestron Electronics, Inc.
Legrand S.A.
Johnson Controls International plc.
Lutron Electronics Co., Inc
Leviton Manufacturing Co., Inc.
LG Electronics
Schneider Electric
Samsung
Apple
General Electric
Siemens
IDEA SMART By VIMAR
Eaton
Panasonic
Signify (Philips)
Acuity Brands Lighting
Lite-Puter Enterprise

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Maximize Market Research is leading Electronics research firm, has also published the following reports:

Intelligent Electronic Devices Market- The market size is expected to reach USD 25.55 billion by 2029 at a CAGR of 9.25 percent during the forecast period.

Wireless Power Bank Market- The market size is expected to reach USD 2.39 billion by 2029 at a CAGR of 5.9 percent during the forecast period.

About Maximize Market Research:

Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.