Smart Wiring Devices Market Report: Trends, Forecast and Competitive Analysis to 2030

Smart Wiring Devices Trends and Forecast

The future of the global smart wiring devices market looks promising with opportunities in the residential, commercial, and industrial markets. The global smart wiring devices market is expected to reach an estimated $17.4 billion by 2030 with a CAGR of 12.4% from 2024 to 2030. The major drivers for this market are the surge in smart home and building adoption, increasing demand for improved energy efficiency, and upswing in IOT technology adoption.

A more than 150-page report is developed to help in your business decisions.

Smart Wiring Devices by Segment

The study includes a forecast for the global smart wiring devices by product type, application, and region.

Smart Wiring Devices Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:

• Smart Switches
• Smart Dimmers
• Smart Thermostat
• Smart Outlets
• Others

Smart Wiring Devices Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Residential
• Commercial
• Industrial

Smart Wiring Devices Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Smart Wiring Devices Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies smart wiring devices companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart wiring devices companies profiled in this report include-

• Leviton Manufacturing
• ABB
• Crestron Electronics
• Siemens
• Honeywell International
• Johnson Controls International
• Control4
• Legrand
• Schneider Electric
• Lutron Electronics

Smart Wiring Devices Market Insights

Lucintel forecasts that smart switches is expected to witness highest growth over the forecast period.

Within this market, residential will remain the largest segment.

North America will remain the largest region over the forecast period.

Features of the Global Smart Wiring Devices Market

Market Size Estimates: Smart wiring devices market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Smart wiring devices market size by product type, application, and region. in terms of value ($B).

Regional Analysis: Smart wiring devices market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different product types, applications, and region.s for the smart wiring devices market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the smart wiring devices market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1. What is the smart wiring devices market size?

Answer: The global smart wiring devices market is expected to reach an estimated $17.4 billion by 2030.

Q.2. What is the growth forecast for smart wiring devices market?

Answer: The global smart wiring devices market is expected to grow with a CAGR of 12.4% from 2024 to 2030.

Q.3. What are the major drivers influencing the growth of the smart wiring devices market?

Answer: The major drivers for this market are the surge in smart home and building adoption, increasing demand for improved energy efficiency, and upswing in IOT technology adoption.

Q.4. What are the major segments for smart wiring devices market?

Answer: The future of the smart wiring devices market looks promising with opportunities in the residential, commercial, and industrial markets.

Q.5. Who are the key smart wiring devices market companies?

Answer: Some of the key smart wiring devices companies are as follows:

• Leviton Manufacturing
• ABB
• Crestron Electronics
• Siemens
• Honeywell International
• Johnson Controls International
• Control4
• Legrand
• Schneider Electric
• Lutron Electronics

Q.6. Which smart wiring devices market segment will be the largest in future?

Answer: Lucintel forecasts that smart switches is expected to witness highest growth over the forecast period.

Q.7. In smart wiring devices market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period.

Q.8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the smart wiring devices market by product type (smart switches, smart dimmers, smart thermostat, smart outlets, and others), application (residential, commercial, and industrial), and region. (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?