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Last edited 03 Feb 2021
Connected living room market
The concept of a connected living room is relatively recent one and involves the use of technological devices and 'gadgets' that provide a combination of information and entertainment depending on the choice of the user. With a connected living room, a user can share photos, music, and videos enabled by devices such as smart televisions, smart phones, set-top boxes, and personal computers.
The market for connected living rooms is expected to see healthy growth, with a single-digit CAGR increase by the end of 2019. There are a variety of factors propelling growth in the connected living rooms market. These include: a growth in the demand for digitisation, the growing preference for advanced display equipment, and the emergence of novel technologies and platforms for sharing information and entertainment. At the same time, there are a few factors that have been preventing the market from reaching higher growth figures, including a lack of user-friendliness and their high costs.
The market can be segmented on the basis of geography, product type, and technology:
- The product segment is classified into; home theatre systems, digital media players, gaming consoles, televisions, and others.
- Technology can be divided into; LED IC, memory IC and sensors, and others.
- Geographically the market is categorised as; Europe, North America, Asia Pacific, and the rest of the World.
Intensification of competition in the global markets is expected over the next few years. This will see market players targeting buyers with attractive pricing and a palette of choices as far as feature-rich entertainment and information are concerned.
The market features key players such as Sony Corp., Nintendo Co. Ltd., Philips Electronics N.V., LG Electronics Corp., Mitsubishi Electric Corp., Koninklijke Samsung Corp., Panasonic Corp., Pioneer Corp., and many others.
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