Connected Living Room Market Estimated to Reach $957 Billion by 2020
According to a MarketsandMarkets recent market research report "Connected Living Room Market by Products (Smart/3D, LED/LCD/OLED TV, set top box, Home theater (Projector, Audio Equipment), Blu-ray player, Gaming console), Technology (Processor, Memory, Sensor, Connectivity) & Geography - Global Trend & Forecast to 2013 2020, the global Market is expected to cross US $957.65 Billion by 2020, at a CAGR of 6.8% rate from 2014 to 2020.
The global Connected Living Room Market covers all the major devices and technologies used in a generic living room, across different parts of the world. These devices are classified under two broad segments, primary devices and secondary devices. Primary devices include Smartphone, tablet, laptop, television systems, set-top boxes, and Blu-ray player; whereas secondary devices include gaming consoles, home theater projectors, and home audio systems.
APAC has emerged to be a promising geographic segment for the digital living room devices. With the transition from analog to digital systems gaining pace owing to the government institutions, the report expects APAC to be the biggest market for the digital living room devices. It currently holds around 34% of the total shares of the connected living room market and is expected to continue doing so in the years to come. It is expected to complete the transition towards digital broadcasting systems.
The Connected Living Room Market report encloses analyses of various market dynamics such as the drivers, restraints, and opportunities. Along with the market dynamics, the report also gives an insight into various market parameters such as, price trends, market share analysis, value chain analysis, and the recent market activities of the leading players for sustainability. These activities include mergers, acquisitions, new product developments, collaborations, joint ventures and partnerships by the players in the market.
The technological segmentation of the market, which is covered in the report includes analysis of various components such as processors, memory ICs, wireless chipsets (for connectivity and content sharing purposes), and sensors used in the connected living room devices.
The TV systems hold the highest share of around 75% from the total connected living market, and the APAC is expected to stand as the home ground for the TV market. Hence APAC is anticipated to witness tremendous growth in terms of the market share. Most of the countries in this region like India and China are expected to completely shift towards digital systems by end of 2015, hence driving the preference to OLED and LED TVs.
Key players like Samsung, LG, Panasonic, Sony, Toshiba, among the others in the TV industry have shifted their focus towards pushing more and more LED and OLED TVs in these regions. Besides, Smart TVs and 3D TVs have also found immense popularity in APAC. China and Japan are the major markets for these TVs along with emerging countries like India which has a huge market potential. As per the report, China alone contributed to nearly 20% of the global smart TV shipments in 2013. Moreover, with respect to set top box market, India and China are the major markets driving the demand.
The Connected Living Room Market report gives an in-depth analysis of each segment, by giving both, qualitative and quantitative (volume and value) data. Along with the volume and value trends, it also focuses on the expected ASP trends.
One of the objectives of the research study was to analyze the anomalies in the market trends for each of the product type. For example, it gives a detailed insight of the weakening market situation of set-top boxes and blu-ray players. One the other hand, an expected growth trend in the OLED market is also highlighted in the report. The report also accurately forecasts the growth of the expected 8th generation gaming consoles.
Apart from the market segmentation, this report includes the critical market data showing the price trend analysis for the connected living room devices, Porter's five force analysis, and value chain with detailed process flow diagrams. Browse 152 market data Tables and 78 Figures spread through 334 Pages and in-depth TOC on "Connected Living Room Market"
Source: MarketsandMarkets