Global Connected Living Rooms Market By Device Type (Smart Speakers, Smart TVs, PC/Laptop, Gaming Consoles, and Other Device Types), By Application (Video Streaming, Gaming, and Audio Streaming), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032
- Published date: April 2023
- Report ID: 28175
- Number of Pages: 240
Connected Living Rooms Market Overview:
In 2021, the global Connected Living Rooms market was valued at USD 52,128 million. It is forecast to grow at an 8.2% CAGR over the forecast period.
It is expected that the growth will be driven by the proliferation of connected devices like smart televisions and smart speakers as well as gaming consoles and set-top boxes.
Global Connected Living Rooms Market Analysis:
Device Type Analysis
The U.S. smart televisions market will grow at an 8.5% annual rate over the forecast period. Smart-connected TVs have the potential to be both lean forward and backward media. They offer remote viewing, but also provide active features that are not available on personal computers. Demand for smart TVs has been driven by their wireless connectivity.
Another segment that is expected to grow rapidly in the future is smart speakers. This is due to Amazon and other large players entering the market. Over the years, extensive research and development have transformed regular speakers with wireless connectivity and voice recognition. Artificial intelligence is also available, which integrates the whole spectrum of devices connected by voice commands.
Smartphones have become essential devices in a connected home. In Asia, there has been a rise in smartphone adoption due to the rising young population, increasing disposable income, and continued rollouts of telecommunication networks.
The video streaming segment will grow at a faster rate, as more people subscribe to video-on-demand services. In an effort to grow their subscriber base and tap new markets in developing countries, providers of video-on-demand services like Netflix have launched affordable subscription options. Video streaming is also growing in popularity due to the increasing preference for live streaming various events on large-screen smart televisions. The connected living room market is expected to grow in demand for video streaming services.
Also, the growth potential for audio streaming is promising. The popularity of audio streaming services is largely due to the increasing use of smart speakers. The segment’s growth is due to several factors, including the widespread adoption of smartphones and internet connectivity for the masses, price wars between the internet service providers, falling internet subscription rates, and the launch of a variety of audio streaming apps.
Key Market Segments:
By Device Type
- Smart Speakers
- Smart TVs
- Gaming Consoles
- Other Device Types
- Video Streaming
- Audio Streaming
The market is expected to grow due to the availability of high-speed bandwidth and virtual space thanks in part to technological advancements made over the last decade. Innovation will be encouraged by increasing internet entertainment and the deployment of high-speed streaming and reliable music storage.
It is expected that the growing popularity of online media streaming will drive the adoption of connected living rooms. Living room-connected devices include all electronic equipment connected to the internet, including smartphones, gaming consoles, tablets, and televisions. Other connected devices include personal computers and laptops as well as tablet phones and set-top boxes.
Market growth will be encouraged by the growing preference for second-screen gadgets and the subsequent increase in their demand. While developed nations have had a faster adoption rate for the latest connected devices like smart TVs and smart speakers, the Asia Pacific countries, which are home to a cost-sensitive customer base have witnessed rapid adoption over the last few years of smartphones, laptops, and tablets.
The market for living-room-connected devices has seen a major cultural shift, from the lean-forward to the lean-back medium and the emergence of smart televisions. In the past smartphones and laptops were the dominant market because of the comfort they provided to users. However, smart-connected TVs have revolutionized comfort.
The Asia Pacific was the largest market in 2021, accounting for 31.5% revenue share. Some countries, including Taiwan and China, are known as electronic manufacturing centers. The Asia Pacific also hosts some of the world’s largest developing nations, including India and China. The Asia Pacific has a large young population that is quick to adopt new technologies. Consumer electronics have been in high demand due to the rapid industrialization of the region and the increasing disposable income. The regional market is particularly driven by increasing access to the internet and subsequent growth in smartphone users.
North America is seeing a growing market for smart speakers and increased adoption. A large population subscribes to live video and audio streaming services, as well as video-on-demand. Europe is third in the adoption of connected devices to the latest technology, after North America. While the U.K. has witnessed a rise of smart TVs as well as smart speakers, other countries such as Germany are seeing a growing interest in tablets and smartphones. France, Germany, and U.K. were among the first to adopt the latest technology and are expected to help grow the European market.
Key Regions and Countries covered іn thе rероrt:
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- South Africa
- Rest of MEA
Samsung Corporation, Netflix Inc., and Google Inc. are some of the key market players. This is due to the company’s diverse customer base, as well as enhanced regional reach via various acquisitions and mergers. Other market leaders include Hitachi Ltd., Panasonic Corporation, and LG Electronics.
There are many potential suppliers that offer similar equipment. Many players are involved in constant research and development to provide unique services at a reasonable cost. The players also use target marketing and new products to increase their market presence and competitive edge.
Маrkеt Кеу Рlауеrѕ:
- Apple Inc.
- Google Inc.
- Netflix Inc.
- Samsung Corporation
- Hitachi Ltd.
- LG Electronics
- Panasonic Corporation
- Other Key Players
For the Connected Living Room Market research study, the following years have been considered to estimate the market size:
Attribute Report Details
Short Term Projection Year
Long Term Projection Year
Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.
North America, Europe, Asia-Pacific, South America, Middle East & Africa
United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Frequently Asked Questions (FAQ)Q: What is the size of the Connected Living Rooms market in 2021?
The Connected Living Rooms market size is US$ 52,128 million in 2021.Q: What is the projected CAGR at which the Connected Living Rooms market is expected to grow at?
The Connected Living Rooms market is expected to grow at a CAGR of 8.2% (2023-2032).Q: List the segments encompassed in this report on the Connected Living Rooms market?
Market.US has segmented the Connected Living Rooms market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By Device Type, the market has been segmented into Smart Speakers, Smart TVs, PC/Laptop, Gaming Consoles, and Other Device Types. By Application, the market has been further divided into Video Streaming, Gaming, and Audio Streaming.Q: List the key industry players of the Connected Living Rooms market?
Apple Inc., Google Inc., Netflix Inc., Samsung Corporation, Hitachi Ltd., LG Electronics, Panasonic Corporation, and Other Key Players are engaged in the Connected Living Rooms market.Q: Which region is more appealing for vendors employed in the Connected Living Rooms market?
APAC is expected to account for the highest revenue share of 31.5%. Therefore, the Connected Living Rooms industry in APAC is expected to garner significant business opportunities over the forecast period.Q: Name the key areas of business for Connected Living Rooms market?
The US, Canada, UK, Japan, Mexico, India, China & Germany are key areas of operation for the Connected Living Rooms Market.Q: Which segment accounts for the greatest market share in the Connected Living Rooms industry?
With respect to the Connected Living Rooms industry, vendors can expect to leverage greater prospective business opportunities through the smart TVs segment, as this area of interest accounts for the largest market share.
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