Plugs Statistics By Market Size and Revenue

Introduction

Plugs Statistics: The popularity of smart plugs has increased in recent years due to the growth of smart home automation and IoT applications. If you’re considering investing in plugs or smart plugs, you’re on the right track. This article provides insights that will guide you in understanding general statistics, market share, demographics, country, and other relevant information.

There are two types of plugs: electric and smart plugs. Their primary function is to remotely connect or disconnect loads through Wi-Fi or cellular phone networking.

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• By the end of 2024, the U.S. market for electric plugs and sockets is expected to be worth $2.68 billion.
• North America will have the largest share of the plug industry by the end of this year.
• By 2024, the market size for smart plugs will be $985.31 million in the U.S., $175.8 million in Canada, and $88.58 million in Mexico.
• The global market value for electric plugs and sockets is expected to reach $13.27 billion.
• The annual growth rate for the plug-and-socket market will be 5.6% from 2023 to 2032.
• A major challenge in the plug market is the high cost of smart plugs worldwide.
• North America’s smart plug market is expected to grow by 31% annually from 2017 to 2027.
• By 2024, the worldwide market for industrial plugs and sockets is projected to be worth $3,105.2 million, growing at a rate of 5.1% annually from 2024 to 2034.
• The most traffic to the Plug. Tech website comes from organic searches, accounting for 32.93%.
• As of December 2023, the U.S. accounted for 50.79% of total traffic on Plug. Tech, with a 4.87% increase in website visitors.
• In 2023, the global import and export of plugs involved 7.6 million shipments, with 212,563 buyers and 208,986 suppliers.

General Plugs Statistics

(Source: technavio.com)

• North America estimated the growth rate of smart Plug, contributing 31% CAGR from 2017 to 2027.
• The year-over-year growth rate of the smart plug market has grown by 17.03% in 2023.
• The market capitalization of spark plugs and glow plugs in 2023 reached $2677.1 million and is expected to be $3252.9 million in 2030 with a CAGR of 3.3%.
• Worldwide, Plug’s revenue will surge by 400% from the last four years.
• In the 2^nd quarter of 2023, revenue earned by plug power resulted in $260 million, with a growth of 72% from last year.
• According to a report published by Global News Wire, the market size of smart Plug accounted for $2.69 billion in 2023 and is supposed to be $9.12 billion by the end of 2028 with a CAGR of 27.66% from 2023 to 2028.

Types of Plugs

(Source: iec.ch)

• As of 2024, 15 different types of plugs are available worldwide.
• Type A: The specification includes two pins, an electric charge measurement of 15A, a required voltage (1-1.27V), and is not grounded. These are mainly used in the United States, Mexico, Canada, and Japan.
• Type B: specification includes pins, 15A; 100-127V; grounded and used in the United States, Mexico, and Canada.
• Type C: specifications are two pins, 2.5A, 10A, and 16A; 220-240V, not grounded and used in Asia, Europe, and South America.
• Type D: specifications (3 pins, 6A, 220-240V, and grounded); used in India.
• Type E: specifications (2 pins, 16A, 220-240V, and grounded); used in France, Poland, Czechia, Belgium, and Slovakia.
• Type F: specifications (2 pins, 16A, 220-240V, and grounded); used in Russia and Europe (but not in Ireland and the United Kingdom).
• Type G: specifications (3 pins, 13A, 220-250V, and grounded); used in Singapore, the United Kingdom, Malaysia, Ireland, Malta, and the Arabian Peninsula.
• Type H: specifications (3 pins, 16A, 220-240V, and grounded); used in the West Bank, Israel, and the Gaza Strip.
• Type I: specifications (2 pins not grounded, three pins grounded, 10A, 220-240V); these plugs are primarily used in New Zealand, Australia, Argentina, and China.
• Type J: specifications (3 pins, 10A, 220-240V, and grounded); used in Liechtenstein and Switzerland.
• Type K: specifications (3 pins, 16A, 220-240V, and grounded); used in Greenland and Denmark.
• Type L: specifications (3 pins, 10A and 16A, 220-240V, and grounded); used in Chile and Italy.
• Type M: specifications (3 pins, 16A, 220-240V, and grounded); used in South Africa.
• Type N: specifications (3 pins, 10A, 16A, and 20A, 220-240V, and grounded); used in South Africa and Brazil.
• Type O: specifications (3 pins, 16A, 220-240V, and grounded); used in Thailand.

Electric Plugs and Sockets Statistics by Market Size

(Reference: precedenceresearch.com)

• The global market size of the electric plugs and socket industry will reach around $12.61 billion in 2023.
• By 2024, the electric plugs and socket market valuation is expected to grow to $13.27 billion.
• Furthermore, the market size of this industry is predicted to grow in coming years, followed by 2025 ($1.97 billion), 2026 ($14.73 billion), 2027 ($15.54 billion), 2028 ($16.41 billion), 2029 ($17.34 billion), 2030 ($18.35 billion), 2031 ($19.43 billion), and 2032 ($20.59 billion).

Smart Plug Market Statistics

(Source: mordorintelligence.com)

• The predicted global market size of the smart Plug in 2024 and 2029 will be $2.69 billion and $9.12 billion, respectively.
• Within these five years, the market will register a growth rate of 27.66% CAGR.
• Belkin International, Inc., Broadlink International, Panasonic Holdings Corporation, D-Link Corporation, and Aukuoo Electronics Inc. are the market leaders in smart plugs.

(Source: mordorintelligence.com)

Smart Plug Statistics by Region

(Reference: statista.com)

• North America’s Smart Plug Market:
  • 2023: Valued at $973.61 million.
  • 2024: Expected to increase to $1,249.68 million.
  • Future growth is anticipated, with values reaching $1,624.18 million in 2025 and continuing to rise each year, hitting $5,414.48 million by 2030.
• Europe’s Smart Plug Market:
  • 2023: Valued at $731.82 million.
  • 2024: Projected to grow to $940.98 million.
  • Steady growth is expected in the following years, with market size expanding to $1,220.97 million in 2025 and further increasing annually, expected to reach $3,126.27 million by 2029 but strangely dropping to $894.79 million in 2030.
• Asia Pacific’s Smart Plug Market:
  • 2023: Valued at $423.04 million.
  • 2024: Expected to grow to $555.47 million.
  • Predicted to continue growing robustly, with figures climbing to $745.38 million in 2025 and soaring to $3,158.97 million by 2030.
• Middle East and Africa’s Smart Plug Market:
  • 2023: Valued at $173.67 million.
  • 2024: Forecasted to rise to $212.77 million.
  • Continued growth was seen, with the market expanding to $265.58 million in 2025 and eventually reaching $809.93 million by 2030.
• Latin America’s Smart Plug Market:
  • 2023: Valued at $135.43 million.
  • 2024: Predicted to increase to $161.09 million.
  • Growth trajectory includes reaching $193.94 million in 2025, climbing to $232.2 million in 2026, and anticipated to further rise to $470.79 million by 2030, though a dip to $227.04 million is noted in 2027 before rebounding.

Smart Plugs Market Size in North America

(Reference: statista.com)

• United States:
  • 2023: Market size is $757.44 million.
  • 2024: Expected to grow to $985.31 million.
  • There has been continuous growth over the years, reaching $1,296.95 million in 2025 and increasing annually to $4,525.61 million by 2030.
• Canada:
  • 2023: Market size is $142.1 million.
  • 2024: Projected to increase to $175.8 million.
  • The market is predicted to continue expanding, with the size rising to $219.65 million in 2025 and further growing each year to reach $605.52 million by 2030.
• Mexico:
  • 2023: Market size is $74.07 million.
  • 2024: Expected to rise to $88.58 million.
  • Growth is anticipated to continue, reaching $107.58 million in 2025 and climbing annually to $283.35 million by 2030.

Global Spark Plug Market Statistics

(Reference: maximizemarketresearch.com)

• According to a report published by Maximize Market Research, the global spark plug market was worth $5.60 billion in 2022.
• The market is projected to grow by $7.93 billion by the end of 2029, with a CAGR of 5.1% from 2022 to 2029.

Industrial Plug and Socket Statistics

• The global industrial plug-and-socket market will be valued at $3,105.2 million in 2024.
• By 2034, the market will be valued at an impressive $5,106.4 million, with a CAGR of 5.1% from 2024 to 2034.
• In 2024, the largest share will be captured by the East Asian market at 37.6%, which is followed by North America with a 30.9% share.
• Based on the country, the market value of the United States will be $694.7 million by 2024 and will approach around $1,111 million by 2034, with a growth rate of 4.8% CAGR from 2024 to 2034.
• The 2024 market size in China will reach $664.3 million and $1,108.9 million by 2034, ending with CAGR within the above forecasted year.

Benefits of Smart Plugs

(Source: mokosmart.com)

• The best smart plug uses and ideas are power statistics (monitor which device consumes the most energy), control time (limit screen time), electrical time ( allow in setting switching time of fan and heater), power-off (automatically power off after the phone is fully charged), and voice control (smart socket can be easily controlled by voice).
• Other features are followed by safety (reduce the possibility of electrical fires), light switch (automatically switch the lights of the house), electrical time (set the switching time on any special event on exact time), controlling device (allow in controlling electrical appliances in every corner of the building), and control irrigation.

Plugs Statistics By Country Web Traffic

(Source: similarweb.com)

• In December 2023, it was reported that the United States of America had 50.79 percent of all traffic to Plug. technology, however, it also recorded an increase in the total number of users by 4.87 percent.
• Other countries with total traffic include India = 6.6 percent (+78.54 percent), Jamaica = 3.22 percent (+119.3 percent), Canada = 3.04 percentage (-25.11 percent) in addition to Kenya = 2.91 percent (+282.1 percentage).
• While other countries an effort to collect a portion of the traffic on websites which resulted in 33.44 percent.

Plugs Statistics By Demographic

(Reference: similarweb.com)

• According to Plug Statistics, the demographic indicates that the highest percentage of users is observed between the ages of 25-34 years which is 31.81 percent.
• There are 25.73 percent of plug users between the ages of 18 and 24 years old.
• 20.05 percent and 12.15 percent belong to people aged 35-44 years old and 45-54 years, respectively.
• 6.31 percent of users are between 55 to 64 years.
• About 3.95 35% of Plug. Tech’s contributors are in the range of 65 years or over.

Plugs Statistics By Source of Traffic

(Reference: similarweb.com)

• According to Plug statistics, 32.93 percent of traffic to Plug. Tech comes from organic searches.
• 38.31 percent of direct traffic, whereas 18.18 percent is via social search.
• Other sources of traffic to plug.net include the referral search (0.23 percent) as well as paid search (9.46 percent) Display (0.51 percent) and Mail (0.4 percent).

Plug Statistics By Social Media Referral Rate

(Reference: similarweb.com)

• YouTube has the highest rate of social media referral, resulting in a 90.87% higher rate than other social networks.
• Facebook and Reddit contribute by 4.27% and 1.63%, respectively.
• Traffic sent by WhatsApp is 1.42%, and TikTok contributes 0.91%.
• Other social media networks with nominal contribution percentages collectively make up 0.92%.

World Plug Shipment Statistics

• The import and export shipment of plugs worldwide was 7.6 million in 2023, with 212,563 buyers and 208,986 suppliers.
• India follows the top 3 exporters of plug shipments (1,070,790 units), followed by China (1 01,860 units) and Germany (722,687 units).
• Export product categories of plugs are HSN Code 85366990, HSN Code 85369010, and HSN Code 85111000.
• The top 3 importers of plug shipments are India (1,986,571 units), Vietnam (921,746 units), and the United States (374,798 units).
• Meanwhile, import product categories of plugs are Code 85366990, HSN Code 85111000, and HSN Code 85369010.

Conclusion

Standard plugs are now old-fashioned, but smart plugs have helped eliminate appliances’ energy consumption. These plugs don’t use a specific amount of phantom power even if they stay on and are readily available worldwide. Smart plugs also allow users to turn almost any appliance on or off with switches, which can be controlled manually and automatically via smartphone or voice command.

The industry is predicted to grow enormously in the coming years due to the advancement of technology across the globe.