The global connected living room market size is expected to be worth around US$ 78.8 billion by 2030, according to a new report by Vision Research Reports.
The global connected living room market size was valued at US$ 40.2 billion in 2020 and is anticipated to grow at a CAGR of 9.6% during forecast period 2021 to 2030.
|Market Size||USD 78.8 billion by 2030|
|Growth Rate||CAGR of 9.6% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Device type, application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Samsung Corporation; Netflix Inc.; Google Inc.; Apple Inc.|
The increasing adoption of smart TVs and smart speakers is expected to drive the growth. The smart TVs have evolved drastically in recent years with increased connectivity and accessibility to various applications and platforms. The wireless connectivity has enlarged the televisions compatibility with a large number of complimentary devices such as smartphones and tablet PCs. This has further helped integrate various other devices with the large screen comfort of a smart TV.
The growing trend of streaming live videos over social media and other platforms is underlining the importance of connected devices and making it evidently necessary for the masses to get acquainted with these devices. These factors are expected to continue propelling the growth of the market over the forecast period.
By Device Type Analysis
The U.S. smart TVs segment is anticipated to reach USD 10.26 billion by 2030, expanding at a CAGR of 8.5% over the forecast period. Smart connected TVs can serve as lean-back media as well as lean-forward media, as they can offer the option of distance viewing while also providing the user with other active features that were previously available only on laptops and personal computers.
Smart speakers is yet another segment with good growth potential during the forecast period, owing to large players such as Amazon entering the market. The extensive research and development over the years has redefined regular speakers with wireless connectivity, voice recognition, artificial intelligence and so on, which integrates the entire spectrum of devices connected through voice commands.
By Application Insights Analysis
The video streaming segment is expected to expand at a CAGR of 10.6% from 2021 to 2030 as consumers continue to subscribe to video-on-demand services. Providers of video-on-demand services, such as Netflix, have introduced affordable subscription options as part of the efforts to expand their subscriber base by tapping new customers in the developing countries.
The audio streaming segment also holds promising growth potential. Rising adoption of smart speakers is particularly contributing to the rising popularity of audio streaming services.
By Regional Analysis
Asia Pacific led the market in 2020 and is projected to continue the dominance over the forecast period, expanding at a CAGR of 9.05%. Some of the countries in the region, such as China and Taiwan, have established themselves as electronics manufacturing hubs. Some of the largest developing countries, such as India and China, are also located in Asia Pacific.
Asia Pacific is home to a large youth population that is highly prompt in adopting the latest technologies. At the same time, the continued industrialization and the rising levels of disposable income in the region have triggered the demand for consumer electronics.
LG Electronics, Panasonic Corporation, and Hitachi Ltd. among othersSamsung Corporation; Netflix Inc.; Google Inc.; and Apple Inc.;
By Device Type
The Connected Living Room market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Connected Living Room market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Connected Living Room market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Connected Living Room market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Connected Living Room market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Connected Living Room capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Connected Living Room by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Connected Living Room market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Connected Living Room market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Connected Living Room market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Connected Living Room industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Connected Living Room market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Connected Living Room market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Connected Living Room market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Connected Living Room market. These factors have benefited the growth of the global market for Connected Living Room. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Connected Living Room. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Connected Living Room are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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