Connect with us

Technology

Smart Plug Market size is set to grow by USD 22.79 billion from 2024-2028, Use of connectivity as differentiating feature by manufacturers boost the market, Technavio

Published

on

NEW YORK, June 6, 2024 /PRNewswire/ — The global smart plug market size is estimated to grow by USD 22.79 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  48.4%  during the forecast period. The global smart plug market has seen significant growth in recent years, with major brands showcasing built-in smart appliances at trade shows like the Consumer Electronics Show and IFA. Despite the challenge of competing with these established players, smart plug vendors continue to innovate and launch upgraded products. To boost sales, they employ marketing strategies such as promotional campaigns, digital marketing, and social media engagement. Collaborations with retailers like Amazon also contribute to market expansion. Trade shows remain an essential platform for showcasing smart plug technology and driving market growth. 

Get a detailed analysis on regions,market segments, customer landscape, and companies- View the snapshot of this report

Smart Plug Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 48.4%

Market growth 2024-2028

USD 22799 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

35.13

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

APAC at 33%

Key countries

US, Germany, UK, China, and Japan

Key companies profiled

BroadLink, ConnectSense, D Link Corp., EDIMAX Technology Co. Ltd., Halonix Technologies Pvt Ltd., Havells India Ltd., Hon Hai Precision Industry Co. Ltd., Indiegogo Inc., Insteon Technologies LLC, ITEAD Intelligent Systems Co. Ltd., Lenovo Group Ltd., Leviton Manufacturing Co. Inc., Panasonic Holdings Corp., Revogi Innovation Co. Ltd., Satechi LLC, Syska Led Lights Pvt. Ltd., TP Link Corp. Ltd., Vesync Co. Ltd., Wipro Ltd., and Xiaomi Communications Co. Ltd.

Market Driver

The smart plug market is experiencing significant growth with various industries adopting these devices for automation and energy management. Smart plugs enable users to control electrical appliances remotely and monitor energy consumption. Massive companies and small businesses are integrating smart plugs into their operations, especially in sectors like manufacturing, healthcare, and hospitality. IoT technology plays a crucial role in the functionality and connectivity of these devices.

Smart plugs are also being used for security purposes, such as turning lights on and off to give the illusion of occupancy. The market is projected to continue growing, with advancements in technology leading to more features and applications. Smart plugs are an essential tool for modern businesses seeking to increase efficiency and reduce costs. 

Research report provides comprehensive data on impact of trend, driver and challenges – Request a sample report!

Market Challenges

•         The adoption of smart plugs faces challenges due to consumer unfamiliarity and apprehension. Limited technological exposure hinders awareness of benefits. Security concerns and high costs add to consumer hesitation. However, increasing smartphone and Internet usage globally is boosting confidence. The mass adoption of smart plugs will be gradual, potentially impacting market growth during the forecast period.

•         The smart plug market is experiencing significant growth with increasing demand for home automation solutions. However, challenges persist in this sector. One major issue is ensuring compatibility with various home automation systems and devices. Another challenge is ensuring security and privacy of data transmitted through smart plugs.

•         Additionally, cost remains a concern for many consumers, as they seek affordable yet effective smart home solutions. Furthermore, regulatory compliance and standardization are essential to ensure consumer safety and confidence in the market. Overall, addressing these challenges will be crucial for the continued growth and success of the smart plug market.

For more insights- Request a sample report!

Segment Overview 

End-user 1.1 Residential1.2 CommercialConnectivity 2.1 Wi-Fi2.2 BluetoothGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Residential-  The Smart Plug market is experiencing significant growth due to increasing home automation trends. These devices allow users to remotely control electrical appliances, enhancing energy efficiency and convenience. Businesses are also adopting smart plugs for cost savings and operational efficiency. With user-friendly interfaces and compatibility with various voice assistants, smart plugs are becoming a must-have for modern homes and offices.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Smart Plug Market is experiencing significant growth in the context of the smart home industry, with Wi-Fi and Bluetooth segments leading the way. IoT framework plays a crucial role in enabling automation and energy monitoring features in these plugs. The residential segment is currently the largest market for smart plugs, but the industrial and commercial segments are also showing strong potential. Smart voice recognition technologies like Google Assistant, Siri, Amazon Alexa, and others are increasingly being integrated into these plugs for enhanced user experience.

Security issues are a key concern in the home automation industry, and smart plug manufacturers are addressing these concerns through robust encryption and authentication mechanisms. Smart city projects are also driving demand for IoT-based plugs, contributing to the overall growth of the market. Energy conservation is a significant benefit of smart plugs, making them an attractive option for consumers looking to reduce their carbon footprint.

Market Research Overview

The Smart Plug Market is a growing sector in the technological industry, focusing on energy management and automation solutions. These devices enable users to control electrical appliances remotely and monitor energy consumption in real-time. Smart Plugs use Wi-Fi, Bluetooth, or other connectivity technologies to connect with home networks and applications. They are compatible with various voice assistants, such as Amazon Alexa and Google Assistant, for hands-free control.

Smart Plugs are used in various sectors, including residential, commercial, and industrial, to save energy, increase efficiency, and enhance convenience. The market is driven by factors like increasing energy prices, growing awareness of energy conservation, and the proliferation of smart homes and buildings. The market is expected to grow significantly in the coming years due to these factors and ongoing technological advancements.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userResidentialCommercialConnectivityWi-FiBluetoothGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/smart-plug-market-size-is-set-to-grow-by-usd-22-79-billion-from-2024-2028–use-of-connectivity-as-differentiating-feature-by-manufacturers-boost-the-market-technavio-302165660.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

TS Imagine Expands Integration with Trumid’s Fixed-Income Trading Platform

Published

on

By

Adds Access to Trumid RFQ Automation
and Trumid Full Self Trading (FST™)

NEW YORK, July 23, 2026 /PRNewswire/ — TS Imagine, a leading global cross-asset provider of trading, portfolio, risk management and prime brokerage solutions, announced an expanded workflow integration with Trumid, a financial technology company and leading fixed income electronic trading platform.

The enhanced integration provides TS Imagine clients with broader access to Trumid’s electronic trading ecosystem, including its list-based workflows—Trumid RFQ and Portfolio Trading (PT)—while expanding RFQ automation and cross-protocol capabilities. Clients can now access:

Trumid’s RFQ network, enabling automated workflows through RFQ Auto-Submit via Trumid AutoPilot™ for RFQ, along with API-driven executionHeadless RFQ responder, initiator, and voice inquiry workflows Trumid Full Self Trading (FST™), Trumid’s automated cross-protocol execution capability connecting liquidity and execution opportunities across Trumid RFQ and Swarms, with expansion to Trumid Attributed Trading (firm dealer streams) planned for H2 2026. 

TS Imagine first integrated with Trumid in 2020, including support for Trumid’s Fair Value Model Price (FVMP™) predictive pricing model for corporate bonds.

Alexis Sainte Marie, Fixed Income Product, TS Imagine, said:

“Our expanded relationship with Trumid is an important step for TS Imagine clients seeking greater access to liquidity and workflow automation. We’ve particularly seen significant growth in areas like portfolio trading and RFQ and will continue to work closely with the Trumid team to enhance trading opportunities for our customers.”

Jason Quinn, Chief Product Officer & Global Head of Sales at Trumid, said: 

“Our mutual clients continue to benefit from the integration with TS Imagine, particularly as adoption of Trumid’s list-based workflows continues to accelerate. As clients increasingly engage across multiple Trumid trading protocols, we see additional opportunities to expand our relationship and deliver even greater value for our mutual clients.”

Trumid’s list protocols continued to deliver strong growth during Q2 2026. Trumid RFQ Average Daily Volume (ADV) increased 122% year-over-year, while automated trade volumes executed through Trumid AutoPilot™ for RFQ more than doubled. Trumid PT volume rose approximately 40% year-over-year, with the protocol recording its highest quarterly ADV alongside all-time highs in buy-side participation and lists traded. 

About TS Imagine 

TS Imagine delivers a best-in-class SaaS platform for integrated electronic front-office trading, portfolio management, prime brokerage, and financial risk management. Our global team of technologists continuously develops software and deploys new technologies that empower financial institutions to outperform markets and manage risk in real time. Many of the world’s leading financial institutions trust TS Imagine’s platform to manage their risk exposure and make better trading decisions across derivatives, equities and fixed income, cutting complexity and driving efficiencies.

About Trumid

Trumid is a financial technology company and fixed income electronic trading platform focused on US dollar-denominated Investment Grade, High Yield, Distressed, and Emerging Market bonds. Trumid optimizes the credit trading experience by combining agile technology and market expertise, with a focus on product design. The result is a differentiated ecosystem of protocols and trading solutions delivered within one intuitive platform. Learn more at www.trumid.com.

MEDIA CONTACTS

Greentarget for TS Imagine
tsimagine@greentarget.co.uk

Trumid Press
+1 (212) 618-0300
press@trumid.com

View original content:https://www.prnewswire.com/news-releases/ts-imagine-expands-integration-with-trumids-fixed-income-trading-platform-302832754.html

SOURCE Trumid

Continue Reading

Technology

Passage Preparation Wins 2026 CODiE Award for Best Professional Learning Platform

Published

on

By

CHARLOTTESVILLE, Va., July 23, 2026 /PRNewswire/ — Passage Preparation™, a division of K12 Coalition, has been named a 2026 CODiE Award Winner in the category Best Professional Learning Platform.

The CODiE Awards recognize the most innovative products, platforms and services across technology and education. Winners are selected through a rigorous evaluation process led by independent industry experts who assess each solution based on innovation, functionality, market impact, and overall value.

Selected from 228 finalists across 75 categories, the 2026 CODiE Award winners represent the solutions setting new standards for excellence and innovation.

“We are honored to receive this recognition from the CODiE Awards,” said Nathan Estel, Managing Director of Passage Preparation. “This award reflects our team’s commitment to helping aspiring educators build the knowledge, confidence, and instructional expertise they need to succeed on their licensure exams. We remain dedicated to strengthening the educator pipeline through innovative learning experiences that prepare great teachers for the classroom.”

As schools across the country face persistent teacher shortages, Passage Preparation is helping accelerate the path from aspiring educator to licensed classroom teacher. The platform provides comprehensive licensure exam preparation tailored to state certification requirements and subject areas, ensuring candidates focus on the content most relevant to their certification pathway. Developed by experienced teachers and teacher educators, every course is aligned with both licensure standards and evidence-based instructional practices, equipping candidates with the skills they need to succeed on certification exams and in the classroom.

Unlike traditional test-preparation programs that emphasize memorization and test-taking strategies, Passage Preparation builds lasting content knowledge and teaching proficiency through engaging, interactive learning experiences. Candidates benefit from diagnostic assessments that identify strengths and areas for improvement, detailed progress reporting, practice assessments, and personalized study plans. Flexible self-paced learning is complemented by live virtual cohorts that provide instructor guidance, peer collaboration, and accountability, creating a supportive professional learning community for busy educators.

Designed with accessibility and flexibility in mind, Passage Preparation includes tools such as Immersive Reader, offering real-time translation in more than 100 languages, text-to-speech functionality, customizable display settings, and other features that support diverse learning needs. The platform has consistently helped improve certification exam pass rates, enabling many candidates to earn licensure on their first attempt, saving valuable time and costs. By preparing more educators to enter the profession successfully, Passage Preparation helps districts fill critical teaching positions faster and strengthens the educator workforce nationwide.

“The 2026 CODiE Award winners represent some of the most innovative and impactful solutions in the industry,” said Jennifer Baranowski, President of the CODiE Awards. “These organizations are solving meaningful challenges, delivering measurable outcomes, and helping shape the future of technology.”

A complete list of 2026 CODiE Award winners is available at https://codieawards.com/winners.

About K12 Coalition 

K12 Coalition is a collective of specialized education products and services with a common mission to provide a great education for every student in every classroom every day. The company offers deep expertise in solving five macro K-12 education challenges: teacher certification, professional learning, literacy and math curriculum, accelerated student learning through summer school, and district support, including strategic planning and consulting. Learn more at k12coalition.com.

About Passage Preparation

Passage Preparation specializes in providing comprehensive licensure assessment preparation resources designed to bolster teacher confidence and proficiency. These learning resources equip licensure candidates with the knowledge necessary for success on exams and instill in them best teaching practices using methodologies thoughtfully curated to be engaging and aligned precisely with the content covered on the licensure exams. Passage Preparation is part of K12 Coalition, a certified B Corporation helping schools and teachers thrive nationwide.

Media Contact:
Alex Fairchild
K12Coalition@finnpartners.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/passage-preparation-wins-2026-codie-award-for-best-professional-learning-platform-302832895.html

SOURCE K12 Coalition

Continue Reading

Technology

Knox Systems Partners with Microsoft to Accelerate Secure Government Access to Commercial Innovation on Microsoft Azure

Published

on

By

Strategic collaboration helps software companies bring cutting-edge commercial technology to the U.S. Government faster through Microsoft Azure Government Cloud

NEW YORK and WASHINGTON, July 23, 2026 /PRNewswire/ — Knox Systems (Knox), the largest, longest-running federal managed cloud, today announced a collaboration with Microsoft to help commercial software companies deploy secure, mission-ready solutions on Microsoft Azure Government Cloud for U.S. Government customers.

As demand for modern AI, cybersecurity, data, and enterprise software continues to grow across the public sector, the partnership is designed to reduce the barriers that have historically prevented government agencies from accessing the same technologies already transforming the commercial market.

Knox enables software providers to achieve production-ready federal cloud environments in as little as 90 days through its pre-authorized Federal Managed Cloud. By inheriting a substantial portion of required security controls, companies can reduce the time, effort, cost, and compliance burden associated with deploying compliant government cloud solutions. Combined with Microsoft Azure’s trusted government cloud platform, the collaboration provides an accelerated path for innovative software companies seeking to serve federal civilian and defense customers.

“America’s greatest technology companies shouldn’t spend years navigating compliance before they can help solve government missions,” said Irina Denisenko, CEO of Knox Systems. “Microsoft has built one of the world’s most trusted cloud platforms for government. Knox removes the operational barriers that can keep innovative software companies from deploying secure, compliant solutions on Azure Government. Together, we’re making it dramatically faster for agencies to access the technologies they need, securely, compliantly, and at mission speed.”

The collaboration strengthens Microsoft’s ecosystem for independent software vendors (ISVs) pursuing government opportunities while expanding the pathway for AI-native, cybersecurity, enterprise software, and critical infrastructure companies to bring production workloads to Azure.

“Microsoft is committed to helping software companies innovate for government while meeting the highest standards for security and compliance,” said Jamie Harper, VP, Defense Industrial Base, Microsoft. “Our collaboration with Knox provides organizations with an accelerated path to deploy innovative solutions on Microsoft Azure Government Cloud, helping government agencies gain faster access to the technologies that support critical missions.”

Knox currently operates one of the industry’s largest FedRAMP-authorized managed cloud environments, supporting more than 70 software companies and maintaining 16 US Federal and Department of War Authorizations to Operate (ATOs). Customers including Adobe, Armis, Celonis, BigID, and other leading software providers rely on Knox to bring commercial innovation to government faster while maintaining rigorous security standards.

As AI adoption accelerates across government, the partnership reflects a shared commitment to ensuring agencies can securely leverage the same cutting-edge technologies already powering the commercial economy.

About Knox Systems

Knox Systems operates the largest managed federal cloud, trusted by top agencies and partners across defense and civilian sectors. Built for speed, resilience, and compliance, Knox delivers FedRAMP authorization in 90 days – turning the biggest bottleneck in government IT into the fastest path to modernization. Knox proudly serves Adobe, Celonis, OutSystems, Armis, BigID, and more AI and SaaS providers, accelerating secure innovation across the federal landscape. Learn more at knoxsystems.com.

Media Contact:
knox@w2comm.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/knox-systems-partners-with-microsoft-to-accelerate-secure-government-access-to-commercial-innovation-on-microsoft-azure-302832781.html

SOURCE Knox Systems, Inc

Continue Reading

Trending