Published By : 25 Nov 2016 | Published By : QYRESEARCH
The global connected living room market is primarily driven by factors such as rising proliferation of innovative home infotainment devices with competitive pricing and better resolution, increasing trend of digitization, and continuous advancements in technology required to connect different types of electronic devices.
Increasing Affordability of High-price Devices to Stimulate Growth of Market
The increasing affordability of high-end devices incorporated with M2M connectivity and improving standards of living in emerging nations, fueled by the rising disposable income, are working in favor of the global connected living room market. The growing government initiatives to promote the implementation of digital technologies and applications are expected to encourage the growth of the market.
On the other hand, the lack of awareness regarding the energy efficiency-related benefits of connected living rooms is hampering the growth of the market. Moreover, the issues rising due to the incompatibility of some communication links with advanced devices are adversely affecting the global connected living room market.
North America to lead Revenue Generation through 2024
North America was the leading regional market in 2015. The high penetration rate of consumer electronics and increasing expenditure by consumers for undertaking the timely transformation of homes are proving to be instrumental in driving the growth of the region. Moreover, the adoption rate for high-quality and technologically advanced electronics devices such as home theaters, smart TVs, and wireless devices is high in this region. Due to the aforementioned reasons, the region is expected to retain its leadership until 2024.
The growth of the Europe market for connected living rooms can be attributed to the increasing per capita income of consumers along with their high standards of living. As per the findings of the report, the region is anticipated to witness steady growth during the forecast period, primarily due to the growing interest of consumers to buy the latest and advanced product in the category of electronic and digital gadgets.