The 2023 report on the “Connected Living Room Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Connected Living Room Market is valued at approximately USD 48.81 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.70% over the forecast period 2022-2029. A connected living room is one that has all the key electronics used in a home, including tablets, televisions, Blu-ray players, home theatre projectors, cellphones, laptops, set-top boxes, home audio systems, and gaming consoles, covered by some sort of technology. The major driving factor for the market is the rising demand for connected home devices. The market for connected living rooms is also benefited from urbanization, digitization, lifestyle changes, rising disposable income, and increased demand for cutting-edge systems. Furthermore, during the projection period of 2021 to 2029, improvements in better resolutions, smart homes, intelligent & connected homes, and linked living rooms offer lucrative prospects to market participants.
Request To Download Sample of This Strategic Report:-https://reportocean.com/industry-verticals/sample-request?report_id=bw6576
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
According to the MarTech, the United States is the world leader in smart speakers installation; in 2020, 1 in every 4 adults owned a smart speaker in the region. Along with this, the penetration of smart home devices for the years 2019 to 2021 in the United States is also increasing.
According to Statista, in 2019, 33 per cent of the U.S population owned at least one smart home device and this figure increased to 43 per cent in the year 2021. Along with this, according to Statista, the penetration of smart TVs in the United Kingdom from the year 2014 to 2021. The penetration of smart TVs has increased significantly and at an increasing rate in the region. As the penetration percentage in 2014 was only 11% which reached 67% in the year 2021. However, the high cost of Connected Living Rooms stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Connected Living Room Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of key market players in the region along with this, the region is technologically advanced which is driving the growth of the market in North America. The Asia Pacific is expected to grow with the highest CAGRduring the forecast period, owing to factors such as rising urbanization and rising adoption of advanced technology in the region.
Major market players included in this report are:
SAMSUNG DISPLAY
LG Display Co., Ltd.
Sony Corporation
Pioneer Corporation.
RAYSTAR OPTRONICS, INC
RITEK CORPORATION
OSRAM GmbH.
WiseChip Semiconductor Inc.
WINSTAR Display Co., Ltd.
Visionox Company
Download Free Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=bw6576
Recent Developments in the Market:
In February 2021, ADT started a partnership with Hippo to bring together ADT’s professional smart home monitoring and connected protection system with Hippo’s digitally native home insurance policies.
In April 2021, a US-based company named Hubbell Control Solutions launched an improved version of NX Distributed Intelligence Lighting Control Panel (NXP2 Series) which provides centralized connection points which help in reducing the time and cost of deployment of the lighting control.
In October 2021, Hubbell Lighting announced a partnership with LightAZ (US) and they developed a complete unit of electric light, manufacturing company with its headquarters in Illinois, US.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Device Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Device Type:
Smart TVs
Gaming Consoles
PC/Laptop
Smart Speakers
Smartphones
Tablets
By Application:
Video Streaming
Audio Streaming
Gaming
To Get More Business Strategies For Request Sample Report:-https://reportocean.com/industry-verticals/sample-request?report_id=bw6576
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Request Full Report – https://reportocean.com/industry-verticals/sample-request?report_id=bw6576
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean is the world’s leading research company, known for its informative research reports. We are committed to providing our clients with both quantitative and qualitative research results. As a part of our global network and comprehensive industry coverage, we offer in-depth knowledge, allowing informed and strategic business conclusions to report. We utilize the most recent technology and analysis tools along with our own unique research models and years of expertise, which assist us to create necessary details and facts that exceed expectations.
Get in Touch with Us:
Report Ocean:
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES
Tel:+1 888 212 3539 (US – TOLL FREE)
Website: https://reportocean.com