Smart Wiring Devices Market Report 2025 (Global Edition)

Global Smart Wiring Devices Market Report 2024 Market Size Split by Product Type (Smart Switches, Smart Dimmers, Smart Thermostat, Smart Outlets, Others), by Applications (Residential, Commercial, Ind...

Smart Wiring Devices Market Report Description

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Smart Wiring Devices Market Insights Video

Competitive Landscape of the Smart Wiring Devices Market

The competitive landscape of the Smart Wiring Devices market is characterized by a range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established manufacturers, specialized Smart Wiring Devices companies, and emerging start-ups aiming to disrupt the market with innovative solutions.

January 2023: Lutron Electronics introduced the Diva smart dimmer, enhancing both style and control options for homeowners and installers. This smart lighting control system includes features such as multi-location control via the Pico smart remote and offers a wired solution for multi-location control with the Claro smart accessory switch. The Diva smart dimmer integrates with smart switch wiring and the Claro smart switch to provide versatile and convenient lighting control. (Source: https://www.lutron.com/en-US/Company-Info/Pages/News/Media-PressCenter/PressReleases/PressReleaseDetail.aspx?prid=828 )

Top Companies Market Share in Smart Wiring Devices Industry: (In no particular order of Rank)

• Lutron Electronics Co.
• Inc
• Leviton Manufacturing Co.
• Inc
• Schneider Electric
• Crestron Electronics
• Inc
• Johnson Controls International PLC
• ABB Ltd
• Siemens AG
• Legrand S.A
• Control4 Corp
• Honeywell International Inc
• Confidential Data
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Smart Wiring Devices Market

Which Region Dominates the Smart Wiring Devices Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. Rapid urbanization in North America is fueling the growth of new residential and commercial properties. Builders and developers are integrating smart wiring devices to cater to the demand for modern, connected homes and efficient building management systems. The high real estate values in major North American cities encourage property owners and developers to invest in smart technologies to boost property value and appeal. In July 2024, sales of new single-family homes reached a seasonally adjusted annual rate of 739,000, according to estimates from the U.S. Census Bureau and the Department of Housing and Urban Development. This figure represents a 10.6 percent (±16.5 percent) increase from the revised June rate of 668,000 and a 5.6 percent (±21.3 percent) rise compared to the July 2023 estimate of 700,000. https://www.census.gov/construction/nrs/current/index.html

Which Region is Expanding at the Fastest CAGR?

Many governments in the Asia-Pacific region are advancing smart city initiatives that incorporate smart technologies into urban development. These programs frequently include smart wiring devices as part of the infrastructure to improve energy management, enhance connectivity, and boost public services. Under the Smart Cities Mission (SCM), a total of 6,041 projects, accounting for 76% of the total, have been completed, with a combined value of ?1,10,635 crore. An additional 1,894 projects, valued at ?60,095 crore, are expected to be finished by June 30, 2024. The 100 Smart Cities involved are undertaking projects across various sectors such as mobility, energy, water, sanitation, solid waste management, public spaces, social infrastructure, and smart governance. For example, in the realm of smart mobility, 1,174 projects worth ?24,047 crore have been completed, with another 434 projects valued at ?15,940 crore currently underway. In smart energy, 573 projects have been completed and 94 are still in progress. https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1952144

The current report Scope analyzes Smart Wiring Devices Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Smart Wiring Devices Market

According to Cognitive Market Research, the global Smart Wiring Devices market size was estimated at USD 8345.5 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 3338.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.6% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Smart Wiring Devices market with a market size of USD 2633.8 million in 2024 and is projected to grow at a CAGR of 10.4% during the forecast period. The nation's rapid adoption of home automation technologies, and the growing trend of smart home upgrades, driving the market.
• The Canada Smart Wiring Devices market had a market share of USD 400.5 million in 2024 and is projected to grow at a CAGR of 11.4% during the forecast period. In Canada, the demand for Smart Wiring Devices Market is driven by the country's expansion of smart city initiatives.
• The Mexico Smart Wiring Devices market is projected to witness growth at a CAGR of 11.1% during the forecast period, with a market size of USD 303.7 million in 2024.

Europe Smart Wiring Devices Market

According to Cognitive Market Research, the global Smart Wiring Devices market size was estimated at USD 8345.5 Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD 2503.6 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2031.

• The United Kingdom Smart Wiring Devices market had a market share of USD 420.6 million in 2024 and is projected to grow at a CAGR of 11.7% during the forecast period. In the UK, Smart Wiring Devices sales witness an upswing due to the emphasis on upgrading residential and commercial properties with energy-efficient solutions.
• The France Smart Wiring Devices market is projected to witness growth at a CAGR of 10.1% during the forecast period, with a market size of USD 230.3 million in 2024.
• According to Cognitive Market Research, the German Smart Wiring Devices market size was valued at USD 495.7 million in 2024 and is projected to grow at a CAGR of 11.1% during the forecast period. In Germany, Snowboarding surged due to the country's strong focus on industrial automation, and the advancement of smart building technologies.
• The Italy Smart Wiring Devices market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 215.3 million in 2024.
• The Russian Smart Wiring Devices market is projected to witness growth at a CAGR of 9.9% during the forecast period, with a market size of USD 388.0 million in 2024.
• The Spain Smart Wiring Devices market is projected to witness growth at a CAGR of 10.0% during the forecast period with a market size of USD 205.3 million in 2024
• The Luxembourg Smart Wiring Devices market is projected to witness growth at a CAGR of 11.0% during the forecast period, with a market size of USD 77.6 million in 2024.
• The Portugal Smart Wiring Devices market is projected to witness growth at a CAGR of 10.7% during the forecast period, with a market size of USD 52.58 million in 2024.
• The Greece Smart Wiring Devices market is projected to witness growth at a CAGR of 11.2% during the forecast period, with a market size of USD 30.04 million in 2024.
• Rest of Europe's Smart Wiring Devices market is projected to witness growth at a CAGR of 9.6% during the forecast period, with a market size of USD 388.07 million in 2024.

Asia Pacific Smart Wiring Devices Market

According to Cognitive Market Research, the global Smart Wiring Devices market size was estimated at USD 8345.5 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1919.4 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.4% from 2024 to 2031.

• According to Cognitive Market Research, the China Smart Wiring Devices market size was valued at USD 863.7 million in 2024 and is projected to grow at a CAGR of 13.9% during the forecast period. Snowboarding surged in China due to the country's extensive infrastructure development, and growing investments in real estate.
• The Japan Smart Wiring Devices market is projected to witness growth at a CAGR of 12.9% during the forecast period, with a market size of USD 264.8 million in 2024.
• The India Smart Wiring Devices market had a market share of USD 230.34 million in 2024 and is projected to grow at a CAGR of 16.2% during the forecast period. In India, the demand for the Smart Wiring Devices Market is driven by rapid urbanization, booming residential construction, and government initiatives like the Smart Cities Mission.
• The South Korean Smart Wiring Devices market is projected to witness growth at a CAGR of 13.5% during the forecast period, with a market size of USD 191.95 million in 2024.
• The Australian Smart Wiring Devices market is projected to witness growth at a CAGR of 14.1% during the forecast period, with a market size of USD 99.81 million in 2024.
• The South East Asia Smart Wiring Devices market is projected to witness growth at a CAGR of 15.4% during the forecast period, with a market size of USD 132.44 million in 2024.
• The Rest of Asia Pacific Smart Wiring Devices market is projected to witness growth at a CAGR of 14.2% during the forecast period, with a market size of USD 136.28 million in 2024.

South America Smart Wiring Devices Market

According to Cognitive Market Research, the global Smart Wiring Devices market size was estimated at USD 8345.5 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 417.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.8% from 2024 to 2031. .

• According to Cognitive Market Research, the Brazil Smart Wiring Devices market size was valued at USD 178.59 million in 2024 and is projected to grow at a CAGR of 12.4% during the forecast period. In Brazil, the demand for smart wiring devices is driven by the expanding real estate and tourism sectors, with hotels and luxury apartments increasingly adopting smart technologies to enhance energy management and guest experiences.
• Argentina's Smart Wiring Devices market had a market share of USD 70.10 million in 2024 and is projected to grow at a CAGR of 12.7% during the forecast period. In Argentina, the demand for the Smart Wiring Devices market is driven by the country’s growing urbanization and government initiatives promoting energy-efficient building practices.
• Colombia's Smart Wiring Devices market is projected to witness growth at a CAGR of 11.6% during the forecast period, with a market size of USD 37.14 million in 2024.
• Peru's Smart Wiring Devices market is projected to witness growth at a CAGR of 12.0% during the forecast period, with a market size of USD 34.22 million in 2024.
• Chile's Smart Wiring Devices market is projected to witness growth at a CAGR of 12.1% during the forecast period, with a market size of USD 30.04 million in 2024.
• The Rest of Latin America's Smart Wiring Devices market is projected to witness growth at a CAGR of 10.9% during the forecast period, with a market size of USD 67.18 million in 2024.

Middle East and Africa Smart Wiring Devices Market

According to Cognitive Market Research, the global Smart Wiring Devices market size was estimated at USD 8345.5 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 166.9 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.1% from 2024 to 2031.

• The GCC Countries Smart Wiring Devices market is projected to witness growth at a CAGR of 12.9% during the forecast period, with a market size of USD 71.44 million in 2024. In GCC countries, the demand for Snowboarding Market is driven by the region's smart city initiatives, and a growing focus on energy-efficient infrastructure, especially in high-end residential and commercial projects.
• The Egypt Smart Wiring Devices market is projected to witness growth at a CAGR of 12.4% during the forecast period, with a market size of USD 17.53 million in 2024.
• The South African snowboarding market is projected to witness growth at a CAGR of 13.1% during the forecast period, with a market size of USD 26.37 million in 2024. In South Africa, the demand for the Smart Wiring Devices market is driven by the increased adoption of home automation solutions and growth in residential development.
• The Turkey Smart Wiring Devices market is projected to witness growth at a CAGR of 11.6% during the forecast period, with a market size of USD 14.35 million in 2024.
• The Nigeria Smart Wiring Devices market is projected to witness growth at a CAGR of 11.2% during the forecast period, with a market size of USD 17.53 million in 2024.
• The Rest of the MEA Smart Wiring Devices market is projected to witness growth at a CAGR of 11.1% during the forecast period, with a market size of USD 19.70 million in 2024.

Smart Wiring Devices Market Analysis

Smart Wiring Devices Market Product Type Segment Analysis

According to Cognitive Market Research, Smart Switches stand out as the dominant Applications over the projected period. Smart switches offer greater control over lighting and other electrical devices, enabling users to manage them remotely via smartphone apps or voice commands. This added convenience drives consumer interest and adoption. Smart switches are increasingly compatible with popular smart home platforms like Amazon Alexa, Google Assistant, and Apple HomeKit. This integration allows users to seamlessly incorporate smart switches into their existing smart home systems, boosting their appeal.

Smart Dimmers emerge as the fastest-growing Applications in the market. Smart dimmers help optimize energy usage by allowing users to adjust lighting levels based on their needs, reducing energy consumption and lowering electricity bills. As awareness of energy efficiency grows, more consumers are adopting smart dimmers to manage their lighting more effectively. Smart dimmers provide users with the ability to customize lighting intensity to create various moods and atmospheres. This customization enhances home comfort and caters to individual preferences, driving demand for smart dimmers.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Smart Wiring Devices Industry. Request a Free Sample PDF!

Smart Wiring Devices Market Applications Segment Analysis

According to Cognitive Market Research, Residential stands out as the dominant Service over the projected period. Homeowners are increasingly seeking convenience through home automation. Smart wiring devices, including smart switches, dimmers, and thermostats, offer remote control and automation features that enhance daily living, driving growth in the residential segment. The integration of smart wiring devices with popular smart home systems (such as Amazon Alexa, Google Assistant, and Apple HomeKit) allows for seamless control of lighting, heating, and other home systems, appealing to consumers interested in comprehensive home automation..

Commercial Applications emerge as the fastest-growing Applications in the Smart Wiring Devices market. The trend towards smart buildings, which incorporate advanced technologies for improved functionality and efficiency, is driving demand for smart wiring devices. These buildings use smart wiring to integrate various systems and enhance overall building performance. Many cities are developing smart city initiatives that include smart infrastructure and commercial buildings. Smart wiring devices play a crucial role in these projects by providing the connectivity and integration needed for smart city technologies.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Smart Wiring Devices Sales Channel Segment Analysis

Smart Wiring Devices Market Applications Segment Analysis

According to Cognitive Market Research, the Direct sales channel stands out as the dominant Service over the projected period. Direct sales channels allow manufacturers to engage directly with customers, offering personalized service and tailored solutions. This direct interaction helps address specific customer needs and preferences, enhancing customer satisfaction and loyalty. Direct sales teams can provide detailed product information and demonstrations, helping customers understand the benefits and functionalities of smart wiring devices. This education can lead to higher adoption rates and informed purchasing decisions..

Indirect sales channel emerges as the fastest-growing Application in the Smart Wiring Devices market. Indirect sales channels, including wholesalers, distributors, and retailers, provide a wide-reaching network for smart wiring devices. This extensive distribution network allows manufacturers to reach a larger audience and penetrate diverse geographic markets more effectively. Indirect sales channels, such as electronic retailers and home improvement stores, offer customers convenient access to smart wiring devices. Retail locations provide customers with the opportunity to see, touch, and test products before purchasing, which can drive higher sales.

• Direct
• Indirect

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals 
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.

Author's Conclusion