The Connected Living Room Market was valued for $47.3 billion in 2022 and is estimated to reach $98.4 billion by 2032, exhibiting a CAGR of 7.8% from 2023 to 2032.
A connected living room is a living environment that is outfitted with interconnected devices, technologies, and services that improve the entertainment and connectivity experience for users. It involves connecting and interacting with numerous smart gadgets such as smart TVs, video streaming devices, gaming consoles, audio systems, and smart home automation systems.
The growth of the global connected living room market is driven by an Increase in consumer demand for seamless and integrated entertainment experiences. This demand is fueled by the popularity of streaming services, the proliferation of smart home devices, and advancements in technology, driving the growth of connected living room solutions. Furthermore, the integration of artificial intelligence (AI) technologies, such as machine learning and natural language processing, can enhance user experiences, provide personalized content recommendations, and make the living room ecosystem more intelligent and intuitive. However, the issue of interoperability and compatibility between different devices and platforms can hinder seamless integration and limit the overall user experience.
The main aim is to improve convenience, entertainment alternatives, and interconnection in the living room, offering users a more pleasurable and customized entertainment experience. These devices are designed to provide easy access to a variety of content such as streaming services, movies, TV shows, and music. Users can utilize them to remotely control their entertainment systems and devices, personalize their preferences, and enjoy interactive and connected experiences. Furthermore, connected living room devices frequently combine with other smart home technologies, allowing users to automate and control many aspects of their living environment, such as lighting, temperature, and security.
The connected living room market is segmented into product type, application, component, and region. On the basis of product type, the market is divided into smart TVs, gaming console, computer and laptop, smart speaker, smartphones and tablets, security systems, and lighting systems. On the basis of application, the market is categorized into video streaming, audio streaming, gaming, and security. On the basis of components, the market is segmented into sensors, thermostats, cameras, communication devices, and others.
On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players profiled in the connected living room market, such as LG Electronics Inc., Roku Inc., Google Inc., Apple Inc., Amazon Inc, Samsung Corporation, Honeywell International Inc., Panasonic Corporation, Toshiba Corporation, and Signify Holding are provided in this report. Market players have adopted various strategies such as product launches, and acquisitions, to expand their foothold in the connected living room market.
A connected living room is a living environment that is outfitted with interconnected devices, technologies, and services that improve the entertainment and connectivity experience for users. It involves connecting and interacting with numerous smart gadgets such as smart TVs, video streaming devices, gaming consoles, audio systems, and smart home automation systems.
The growth of the global connected living room market is driven by an Increase in consumer demand for seamless and integrated entertainment experiences. This demand is fueled by the popularity of streaming services, the proliferation of smart home devices, and advancements in technology, driving the growth of connected living room solutions. Furthermore, the integration of artificial intelligence (AI) technologies, such as machine learning and natural language processing, can enhance user experiences, provide personalized content recommendations, and make the living room ecosystem more intelligent and intuitive. However, the issue of interoperability and compatibility between different devices and platforms can hinder seamless integration and limit the overall user experience.
The main aim is to improve convenience, entertainment alternatives, and interconnection in the living room, offering users a more pleasurable and customized entertainment experience. These devices are designed to provide easy access to a variety of content such as streaming services, movies, TV shows, and music. Users can utilize them to remotely control their entertainment systems and devices, personalize their preferences, and enjoy interactive and connected experiences. Furthermore, connected living room devices frequently combine with other smart home technologies, allowing users to automate and control many aspects of their living environment, such as lighting, temperature, and security.
The connected living room market is segmented into product type, application, component, and region. On the basis of product type, the market is divided into smart TVs, gaming console, computer and laptop, smart speaker, smartphones and tablets, security systems, and lighting systems. On the basis of application, the market is categorized into video streaming, audio streaming, gaming, and security. On the basis of components, the market is segmented into sensors, thermostats, cameras, communication devices, and others.
On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players profiled in the connected living room market, such as LG Electronics Inc., Roku Inc., Google Inc., Apple Inc., Amazon Inc, Samsung Corporation, Honeywell International Inc., Panasonic Corporation, Toshiba Corporation, and Signify Holding are provided in this report. Market players have adopted various strategies such as product launches, and acquisitions, to expand their foothold in the connected living room market.
KEY MARKET SEGMENTS
By Product Type
- Smart TVs
- Gaming Consoles
- Computer and Laptop
- Smart Speakers
- Smartphones and Tablets
- Security system
- Lighting system
By Application
- Video Streaming
- Audio Streaming
- Gaming
- Security
By Component
- Sensors
- Thermostats
- Cameras
- Communication Device
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- LG Electronics Inc.
- Roku Inc.
- Google Inc.
- Apple Inc.,
- Amazon Inc
- Samsung corporation
- Honeywell
- Panasonic Corporation,
- Signify Holding
- Toshiba Corporation
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the connected living room market analysis from 2022 to 2032 to identify the prevailing connected living room market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the connected living room market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global connected living room market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Smart TVs
- Gaming Consoles
- Computer and Laptop
- Smart Speakers
- Smartphones and Tablets
- Security system
- Lighting system
By Application
- Video Streaming
- Audio Streaming
- Gaming
- Security
By Component
- Sensors
- Thermostats
- Cameras
- Communication Device
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Amazon.com, Inc.
- Apple Inc.
- Google LLC
- Honeywell International Inc.
- LG Electronics Inc.
- Panasonic Holdings Corporation
- Roku, Inc.
- SAMSUNG ELECTRONICS CO., LTD.
- Signify Holding
- Toshiba Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CONNECTED LIVING ROOM MARKET, BY PRODUCT TYPE
CHAPTER 5: CONNECTED LIVING ROOM MARKET, BY APPLICATION
CHAPTER 6: CONNECTED LIVING ROOM MARKET, BY COMPONENT
CHAPTER 7: CONNECTED LIVING ROOM MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Connected Living Room Market,' The connected living room market was valued at $47.26 billion in 2022, and is estimated to reach $98.4 billion by 2032, growing at a CAGR of 7.8% from 2023 to 2032.A connected living room refers to a living room space in which numerous devices and technologies are integrated to give consumers a better entertainment and convenience experience. It entails connecting a variety of smart gadgets, such as smart TVs, streaming media players, gaming consoles, sound systems, voice assistants, and smart home automation systems, into a single network. They include several types of connected devices, such as Smart TVs, gaming consoles, computers and laptops, smart speakers, smartphones and tablets, security systems, and lighting systems.
A connected living room is a living environment that is outfitted with interconnected devices, technologies, and services that improve the entertainment and connectivity experience for users. It involves connecting and interacting with numerous smart gadgets such as smart TVs, video streaming devices, gaming consoles, audio systems, and smart home automation systems.
Key factors driving the growth of the Connected living room market include the expansion of IoT ecosystem and advancements in voice control and increasing consumer demand for personalized and immersive experiences, and others. The Internet of Things (IoT) has played a critical role in facilitating connectivity and interoperability across diverse living room devices. Connected living room solutions use IoT technology to provide a unified environment in which diverse devices may connect with one another, allowing customers to easily control and manage their entertainment systems. Moreover, voice control technology has advanced significantly in recent years as a result of virtual assistants such as Amazon Alexa, Google Assistant, and Apple Siri. These virtual assistants can be embedded into connected devices, allowing users to utilize voice commands to control their living room appliances, play content, alter settings, and complete other tasks. This wireless connectivity feature has gained popularity among consumers, boosting the demand for connected living room devices with wireless capabilities. Furthermore, consumers are increasingly seeking personalized and immersive experiences in their living rooms. Connected living room solutions provide features such as personalized content recommendations, voice search, multi-room audio, and smart lighting control, creating an immersive and customized entertainment environment.
The market also offers growth opportunities to the key players in the market. Integration with smart home ecosystems, data-driven insights and personalization and others. The market for connected living rooms connects with the larger smart home ecosystem. This opportunity can be capitalized on by key companies connecting their devices and platforms with other smart home solutions such as smart lighting, security systems, and home automation. Companies can provide a holistic smart home experience to consumers by delivering seamless integration and interoperability, boosting their value proposition. Moreover, key players can differentiate themselves in the market by focusing on developing intuitive user interfaces and seamless user experiences. This includes user-friendly interfaces, simplified setup processes, intuitive navigation, and personalized recommendations. By prioritizing user-centric design and delivering exceptional experiences, companies can attract and retain customers in the competitive connected living room market, thereby providing growth opportunities for the stakeholders in the coming years.
The global connected living room market trends are analyzed across various segments including product type, application, component, and region. On the basis of product type, the market is divided into smart TVs, gaming console, computer and laptop, smart speaker, smartphones and tablets, security systems, and lighting systems. On the basis of application, the market is categorized into video streaming, audio streaming, gaming, and security. On the basis of components, the market is segmented into sensors, thermostats, cameras, communication devices, and others The regional segmentation of the market includes North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the connected living room market, such as LG Electronics Inc., Roku Inc., Google Inc., Apple Inc., Amazon Inc, Samsung Corporation, Honeywell International Inc., Panasonic Corporation, Toshiba Corporation, and Signify Holding are provided in this report. Market players have adopted various strategies such as product launches, and acquisitions, to expand their foothold in the connected living room market. For instance, in March 2023, Apple launched a new yellow iPhone 14 and iPhone 14 Plus, adding even more color choices to the lineup. Beautifully designed and built to last, iPhone 14 and iPhone 14 Plus have a durable Ceramic Shield front cover, an updated internal design for better sustained performance and easier repairs, and amazing battery life with iPhone 14 Plus offering the longest battery life of any iPhone ever. Both the models include a dual camera system for stunning photos and videos, the powerful A15 Bionic chip, and innovative safety capabilities including Emergency SOS via satellite and Crash Detection.
Key Market Insights
- By product type, the smartphones and tablets segment was the highest revenue contributor to the market with $15.36 billion in 2022, with CAGR of 8.78%. However, smart TVs are estimated to be the fastest growing segment with a CAGR of 9.98%.
- By application, the video streaming segment dominated the global market, and is estimated to reach $38.88 billion by 2032, with a CAGR of 9.26%.
- Based on component, the cameras segment dominated the global market, and is estimated to reach $35.14 billion by 2032, with a CAGR of 9.13%.
- Based on region, Asia-Pacific was the highest revenue contributor, accounting for $15.32 billion in 2022, and is estimated to reach $35.34 billion by 2032, with a CAGR of 8.87%.
Companies Mentioned
- Amazon.com, Inc.
- Apple Inc.
- Google LLC
- Honeywell International Inc.
- LG Electronics Inc.
- Panasonic Holdings Corporation
- Roku, Inc.
- SAMSUNG ELECTRONICS CO., LTD.
- Signify Holding
- Toshiba Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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