Boston, MA -- (ReleaseWire) -- 05/14/2014 -- Connected Living Room Market by Products (Smart/3D, LED/LCD/OLED TV, set top box, Home theater (Projector, Audio Equipment), Blu-ray player, Gaming console), by Technology (Processor, Memory, Sensor, Connectivity) & by Geography - Global Trend & Forecast to 2013 - 2020
The race is on to close the gap between different consumer electronics devices used in living rooms. The living room devices in the early 80s were majorly televisions. With the inventions and evolution of the consumer electronics industry, new products like the digital set-top box, digital video recorder, home theater systems, digital media players like Blu-ray players, and gaming consoles have made their entry into the living room. The transformation of the living room into a digital entertainment hub of a home has been influenced by a variety of factors. One of these major factors has been the beginning of the shift towards digitization, making the use and storage of media content very convenient and highly user friendly. Thus the analysis says that the total connected living room market is expected to cross $357.24 billion by 2020 with a single digit growth rate. Currently, the market value is approximately $197.58 billion.
The major living room devices that have been covered in this research study are TVs, set-top boxes, DVRs, home theater systems, gaming consoles, and blu-ray players. These devices have evolved to become an integral part of a typical connected living room. The development of newer and more advanced wired and wireless connectivity technologies have also contributed to growth of these devices. These technologies have made the storage, sharing and transfer of high quality media content simpler.
The major companies involved in connected living room market are Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), LG Electronics Inc. (South Korea), BenQ Corporation (Taiwan), Nintendo Co., Ltd. (Japan), Comcast Corporation (U.S.), and Pioneer Corp. (Japan).
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- The global connected living room market is estimated to grow at a modest CAGR from 2014 till 2020 and to cross $357.24 billion by the end of these five years
- Currently, televisions contribute to more than 75% of the global connected living room market. This share is expected to increase to more than 85% by the end of 2020
- Factors such as evolving technology and changing consumer behavior are affecting each type of devices. For instance, a declining trend is observed in the set-top box and Blu-ray player markets
- OLED TVs are expected to dominate the television market for the next five years and CCFL backlit LCD TVs and Plasma TVs shall witness a rapid decline in their shipments
- Porter's analysis in detail, market life cycle analysis along with technology and market roadmaps, evolution and time-lines of each type of living room devices, and their respective markets
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