PUBLISHER: Allied Market Research | PRODUCT CODE: 1344509
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344509
According to a new report published by Allied Market Research, 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 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.