Smart wiring devices market is anticipated to grow at a CAGR of 12.4% during the forecast period (2023-2030). The market’s growth is attributed to demand for simplified solutions. Decora Edge addresses the market’s demand for simpler and more user-friendly installation methods, reducing complexity and time in electrical installations. For instance, in January 2023, Leviton introduced its Decora Edge line of wiring devices a faster, easier and safer way to install electrical devices for the home. In comparison to traditional switches and outlets, Decora Edge simplifies installation by allowing users to simply push stripped 14-gauge or 12-gauge electrical building wire into a termination port and close a lever that clicks into place, safely terminating the connection.
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The global smart wiring devices market is segmented on the product, and end-user. Based on the product, the market is sub-segmented into smart switches, smart dimmers, smart thermostats, smart outlets/plugs, and others. Furthermore, on the basis of end-user, the market is sub-segmented into residential sector, commercial buildings, industrial sector, government and public infrastructure, and others. The smart switches subcategory is expected to capture a significant portion of the market share within the product type segment. This is attributed to the use of smart switches has the advantage of providing centralized network management, that can improve performance and security. The growth can be attributed to the growing acceptance of IoT-based home automation solutions in addition to the penetration of the electrical infrastructure.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Smart Wiring Devices Market Report Segment
By Product Type
- Smart Switches
- Smart Dimmers
- Smart Thermostats
- Smart Outlets/Plugs
- Others (Smart Panels/Distribution Boards, and Smart Circuit Breakers)
By End-User
- Residential Sector
- Commercial Buildings
- Industrial Sector
- Government and Public Infrastructure
- Others (Healthcare Facilities, and Educational Institutions)
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global smart wiring devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies. Competitive strategies by identifying ‘who-stands-where’ in the market.
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