We know that Electronic House readers love everything about the connected home. But how about everyone else? It seems that the average consumer is starting to catch on.
According to a new report published by MarketsandMarkets, the total Connected Living Room Market is expected to cross $957.65 billion by 2020.
In case you’re wondering, the market is currently valued at approximately $612.36 billion.
The new report divided up the market by devices, technology, and geography—and included all of the major devices and technologies used in a generic living room. Primary devices are considered to be items such as smartphones, tablets, laptops, TVs, set-top boxes and Blu-ray players, while secondary devices were deemed to be gaming consoles, home theater projectors, and home audio systems.
The main factor driving the connected living room market is digital offerings, which sort of brings down the numbers for set-top boxes and Blu-ray players. However, new gaming consoles and expected growth for the OLED market is pumping those numbers back up. The report also included a few other interesting tidbits:
- Smartphones contribute to 39 percent of the global connected living room market, with TVs at about 25 percent. This share is expected to increase to 44 and 24 percent (respectively) by the end of 2020.
- OLED TVs are expected to dominate the market over the next five years, while CCFL backlit LCD TVs and plasmas will witness a rapid decline.
According to MarketsandMarkets: “The major companies involved in this market are Samsung Electronics (South Korea), Sony Corporation (Japan), Samsung (South Korea), Motorola (U.S.), LG Electronics (South Korea), BenQ Corporation (Taiwan), Nintendo (Japan), Comcast Corporation (U.S.), and Pioneer Corp. (Japan).”
The complete report can be ordered from MarketsandMarkets. Just look for the report that’s titled, 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.
Also Check Out:
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Over the past 15 years, Rachel Cericola has covered entertainment, web and technology trends. Check her out at www.rachelcericola.com.