Global connected living room market is expected to experience rapid growth over the forecast period due to high demand for digitization in consumer goods. Huge demand for digitized entertainment platform is estimated to enhance the connected living room market growth over the next eight year period.
Evolving customer entertainment preferences are expected to contribute towards the connected living room market growth over the forecast period. 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 increases their functionality. Growing preference for innovative display equipment, advanced platforms development for information sharing & entertainment, and rising demand digitization are some factors that are presumed to fuel industry growth.
User interactive features integration into home infotainment devices in recent years is estimated to drive the industry growth over the forecast period. Increase in content streaming demand by the customers and software technologies and network integration by the manufacturers are the factors presumed to propel the industry growth over the forecast period.
Significant developments in wireless and wired connectivity technologies are estimated to fuel further industry growth and development. High demand for electronic products viz. home theater systems and digital video recorder and set-top boxes, which provide better entertainment, personalized services, and communication opportunities are presumed to complement industry growth over the forecast period. Smart TV models offer internet access along with other related capabilities. Such smart devices that have the ability to perform multiple operations are anticipated to propel demand for connected living room market.
Change in consumer buying patterns favoring natural interface, high functionality, and low maintenance are key factors expected to play a significant role in shaping the future market over the next eight years. The increase in demand for better quality digital entertainment devices coupled with declining product prices in the market is presumed to contribute towards substantial growth over the forecast period.
Compatibility issues are the major restraining factor for this industry and are presumed to impact the industry negatively over the forecast period. Technology penetration into previously untapped regions is expected to offer abundant opportunities for this market to the industry participants. High installation cost and low awareness regarding the benefits related to such device integration are critical issues anticipated to hamper industry growth.
The industry can be classified based on products, region, and technology. Product wise the connected living room market can be further segmented into home theater (which further includes the projector and audio equipment), Smart/3D, LED/OLED/LCD TV, set-top box, gaming console, and Blu-ray players. Major technology segments include CLR technology, processors (generic digital signal processors and microcontroller unit), sensors (image & magnetic sensors and accelerometer), chipsets for wireless connectivity, memory Ic and LED driver Ic.
Key regional markets include North America, Europe, Central & South America, Middle East & Africa, and Asia Pacific. 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 rise in living standards and rise in disposable income over the next eight year period. Innovation and development towards superior products are anticipated to enhance further the regional as well as global market growth in near future. The developed markets are expected to provide ample opportunities for market penetration to the industry participants as these regions were previously untapped in this regard.
The industry requires huge initial investment and is highly cost intensive. The companies are expected to take active measures to gain market share and to deliver diversified product portfolio. Key strategic initiatives include mergers & acquisitions and massive investments in R&D initiatives. Prominent industry participants include LG Electronics Inc., Nintendo Co. Ltd., BenQ Corporation, Pioneer Corporation, Comcast Corporation, Sony Corporation, and Samsung Electronics Co. Ltd.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.