What Is The Current and Historic Market Size Analysis Of The Connected Living Room Market?
The connected living room market has seen considerable growth due to a variety of factors.
• The market size for the connected living room has seen robust growth in the past few years. It is anticipated to rise from $60.78 billion in 2024 to about $66 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 8.6%.
The growth observed in the historical timeframe is credited to factors such as the rise in internet accessibility, increased consumer appetite for content, widespread usage of smart gadgets, growing cognizance regarding home automation, and the incorporation of artificial intelligence (AI) and voice control systems.
What Is The Forecast For The Connected Living Room Market Size?
The connected living room market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations are high for substantial growth in the connected living room market over the upcoming years. This market is projected to reach a value of $93.08 billion, with a compound annual growth rate (CAGR) of 9.0% by 2029. The expansion within the projected period is largely attributed to the rise of virtual and augmented reality (VR/AR), a heightened focus on cybersecurity, the broadening of smart home ecosystems, an inclination towards customization and personalization, and concerns over environmental sustainability. Notable trends for the forecast period include the integration of 5G technology, partnerships and collaborations, swift technological innovations, embedding of 5G technology, and personalization and customization trends.
What Are The Essential Drivers Behind The Growth Of The Connected Living Room Market?
The growth of the connected living room market is anticipated to be driven by the increased usage of smartphones and tablets. A smartphone is not just a mobile device for communication but also offers features such as internet access, multiple applications, and a touchscreen interface. The exponential growth in the number of smartphones is a result of the rising demand from consumers for connectivity and diverse features. These devices have become crucial for integration and interactive entertainment in the connected living rooms. The integration and control of various smart devices and entertainment systems in these living rooms are managed through smartphones. They function as central hubs, providing users with the ability to remotely control devices such as smart TVs, streaming devices, smart speakers, lighting systems, thermostats, and more. For example, Uswitch Limited, a UK-based financial conduct authority, reported that there were around 71.8 million mobile connections in the UK as of 2022. This represents a 3.8% increase (or approximately 2.6 million) from 2021. It's projected that by 2025, about 65 million people or 95% of the UK's estimated 68.3 million population will possess a smartphone. Hence, the surge in smartphone usage is expected to fuel the connected living room market's growth.
How Is The Global Connected Living Room Market Divided Into Key Segments?
The connected living room market covered in this report is segmented –
1) By Product Type: Smart Televisions (TV), Gaming Consoles, Computer And Laptops, Smart Speakers, Smartphones And Tablets, Security Systems, Lighting Systems
2) By Component: Sensors, Thermostats, Cameras, Communication Device, Other Components
3) By Application: Video Streaming, Audio Streaming, Gaming, Security
Subsegments:
1) By Smart Televisions (TV): OLED TVs, QLED TVs, LED Or LCD TVs, Smart TVs with AI Integration, 4K And 8K Ultra HD TVs
2) By Gaming Consoles: PlayStation, Xbox, Nintendo Switch, Streaming Game Consoles, Cloud Gaming Devices
3) By Computers And Laptops: Desktop Computers, Laptops, All-in-One PCs, Hybrid Or Convertible Devices, Gaming PCs Or Laptops
4) By Smart Speakers: Amazon Echo, Google Nest, Apple HomePod, Sonos Speakers, Smart Soundbars
5) By Smartphones And Tablets: Smartphones (Android, iOS), Tablets (iOS, Android, Windows), Phablets, Foldable Devices
6) By Security Systems: Smart Cameras, Smart Doorbells, Motion Detectors, Smart Locks, Home Alarm Systems
7) By Lighting Systems: Smart Bulbs, Smart Light Switches, Smart Light Panels, LED Strip Lights, Smart Ceiling Lights
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What New Trends Are Influencing The Connected Living Room Market?
Leading corporations in the connected living room market are concentrating on the invention of technologically superior goods and services like smart home solutions that aim to boost convenience, connectivity, and entertainment quality for clients. These technologies incorporate automation and optimization for home security, management, entertainment, and energy efficiency to enrich living conditions. For instance, SmartThings Home Life – a complete smart home solution inclusive of smart cooking, energy, home care, air care, clothing care, and pet care – was launched by Samsung Electronics Co. Ltd., a electronics production company from South Korea in June 2022. This solution, compatible with thousands of devices and having collaborations with 270 global partners, bolsters connectivity at home, giving smartphone users more control. Additionally, Samsung's newly updated Family Hub incorporates novel AI features to facilitate daily routines.
Who Are the Key Players In The Connected Living Room Market?
Major companies operating in the connected living room market are:
• Amazon.com Inc.
• Apple Inc.
• Google LLC
• Samsung Electronics Co. Ltd.
• Hitachi Ltd.
• Siemens AG
• General Electric
• Sony Corporation
• Panasonic Corporation
• Schneider Electric SE
• Honeywell International Inc.
• Toshiba Corporation
• Toshiba Corp.
• Pioneer Corporation
• Eaton Corporation
• LG Corporation
• Koninklijke Philips N.V.
• Emerson Electric Co.
• Signify Holding
• Rockwell Automation Inc.
• Osram GmbH
• Roku Inc.
• Visionox Company
• Ritek Corporation
• Raystar Optronics Inc
What Are The Regional Insights Into The Connected Living Room Market?
Asia-Pacific was the largest region in the connected living room market in 2024. The regions covered in the connected living room market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
