Global Connected Living Room Market: Overview
Growing preferences for customer entertainment are slated to contribute remarkably towards the connected living room market trends over the ensuing years. TV systems, set top boxes, home theater systems, multimedia devices, computers, gaming consoles, and smartphones are the primary electronic goods that are present in a living room. Connected living room integrates these devices together for better and efficient performance as well as enhances their operational efficiencies. Escalating innovative display equipment, advanced platforms development for information sharing & entertainment, and rising demand digitization trends are few of the major factors that are anticipated to steer up the connected living room market size.
Global Connected Living Room Market: Growth Factors
User interactive features integration into home infotainment devices in recent years is expected to boost the connected living room market growth over the next few years. Increase in popularity of content streaming, software technologies, and network integration are the major factors that are expected to generate a greater scope for connected living room market over the estimated span.
Significant breakthroughs witnessed across the wireless and wired connectivity technologies are further predicted to lucratively leverage the business space. Escalating demand for electronic items including home theater systems, digital video recorder, and set-top boxes owing to its ability to offer better entertainment, personalized services, and communication opportunities are predicted to supplement connected living room market growth over the forecast timeline. Growing demand for smart equipment such as smart televisions with an ability to perform manifold functionalities is forecast to spur connected living room market trends.
Change in consumer purchasing behavior favoring natural interface, high functionality, and low maintenance are key factors expected to play a significant role in influence the market growth in the near future. The increase in demand for better quality digital entertainment devices coupled with declining product costs in the connected living room market is foreseen to account remarkably towards connected living room market earnings over the years ahead.
Compatibility issues are the major restraining factor for this market and are project to impact the business adversely over the estimated timespan. Rise in the deployment costs and low awareness level about the new concept in the developing regions are anticipated to hamper market progress. Nevertheless, massive penetration of new technologies into previously untapped markets is expected to offer numerous growth avenues for the market players. This in turn will minimize the hindrances on the connected living room market growth significantly.
Global Connected Living Room Market: Segmentation
The global connected living room market can be divided based on products and technology. Product wise, the market is sectored into home theater, Smart/3D, LED/OLED/LCD TV, set-top box, gaming console, and Blu-ray. Based on the technology, the connected living room market is divided into CLR technology, processors, sensors, chipsets for wireless connectivity, memory Ic, and LED driver Ic.
Global Connected Living Room Market: Regional Analysis
Based on regions, the global connected living room market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Developed regions such as North America dominated the global market owing to technology advancements and novel product launches. These areas are expected to show positive growth over the forecast period. Developing regions such as Asia Pacific and Central & South America are projected to experience rapid growth in the industry owing to several key factors.
Emerging economies including India and China are estimated to witness positive growth due to rapid urbanization, increase in living standards, and rise in disposable income over the coming years. Product innovation strategies implemented by the firms to product superior products are foreseen to further enhance the regional and overall market growth in near future. The developed regions are expected to provide lucrative opportunities for the industry participants to explore its untapped market growth potential.
Global Connected Living Room Market: Competitive Players
The key market players of the global connected living room market include Pioneer Corporation, LG Electronics Inc., Nintendo Co. Ltd., Comcast Corporation, Sony Corporation, BenQ Corporation, and Samsung Electronics Co. Ltd.
Global Connected Living Room Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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