Connected Living Room Market Innovation in the Latest Technologies that Enables Connectivity of various Home Devices
March 20, 2017 in Technology
There are several factors which has influenced the growing popularity of the Connected Living Room, transforming the living room into a digital entertainment hub. Shift towards digitization, storage of media, sharing and receiving data over the internet and interconnected devices through internet has influenced the transformation of the connected living room. Connected living room is a concept which involves multiple devices which may include entertainment devices, infotainment devices, television, computers and other component and devices which have application in the living room connected to particular internet connections. Consumers or end users can share, stream, search and operate this device together. The influx of latest consumer electronics like digital video recorders, set-top box, portable computing devices like smart phones, tablets and laptops, digital media players which include blu-ray players and gaming consoles have completely changed the face of living room.
Connected Living Room Market: Growth Dynamics
Some of the key factors driving the connected living room market include shift towards digitization; storage of media, sharing and receiving data over the internet and interconnected devices through internet has influenced the transformation of the connected living room. Innovation in the latest technologies that enables connectivity of various home devices is also a vital factor driving the connected living room market. Technologies such as Internet of Things (IoT) enable various devices to exchange data among multiple devices. The IoT technology enables an end-user to connect and share files with other devices at the same time. Accessibility to all the devices at the same time is driving consumers to upgrade to the connected living room. Some key challenges faced by the players operating in the connected living room include lack of awareness among consumers and compatibility issues. A connected living room utilizes various systems such as lighting control systems, security systems, and entertainment devices that make use of different types of communication links throughout the facility in order to control these devices. Every communication method needs dedicated electronic circuits inside these devices. The communication network penetrates the electrical environment of a facility. The replaced devices as well as new systems might not always be compatible with the existing controls, thus leading to complications. Compatibility issues may arise due to the increase in complexity of operation of the devices.
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Global Connected Living Room Market: Geographical and Competitive Dynamics
Geographically the global connected living room market has been broadly segmented into Asia Pacific, North America, Rest of the World (RoW) and Europe. North America led the global connected living room market in 2015. Asia Pacific is the most attractive region in the global connected living room market and is expected to grow at the fastest rate over the forecast period 2016 to 2024. High penetration rate of consumer electronics and transformation of living rooms are driving the market in North America.
Some of the key strategy adopted by the key players in the global connected living room market includes focus in research and development, product development, acquiring other companies which are operating in the same line of business as the company.The key players operating in the global connected living room market include Samsung Electronics Co. Ltd. (Suwon, South Korea), Seimens AG (Munich, Germany), Eaton Corporation (Dublin, Ireland), Schneider Electric SE (Rueil Malmaison, Franc), General Electric (U.S.), Emerson Electric Co. (Ferguson, U.S.), Rockwell Automation Inc. (Milwaukee, U.S.), Littelfuse Inc. (Chicago, U.S.), Toshiba Corp. (Tokyo, Japan) and Hitachi, Ltd.( Tokyo, Japan).
This report provides strategic analysis of the connected living room market and the growth forecast for the period 2016 to 2024. The report covers competitive analysis of various market segments based on by components and product type and an in depth cross sectional analysis of the connected living room market is provided across different geographic segments.