The Global Market for Connected Living Room is Projected to Reach US$897.5 Billion by 2020

Rising Penetration of Internet-Enabled Devices Drives Demand for Connected Living Rooms, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Connected Living Room. The global market for Connected Living Room is projected to reach US$897.5 billion by 2020, driven by surging demand for internet-connected devices.

Connected living room is a modern concept of using Internet connected electronic systems such as televisions, computers and game consoles to share data. This concept is fundamentally changing the dynamics of in-home entertainment. A connected living room enables a user to share videos, music and photos through devices such as personal computers, set-top boxes and smart TVs, and offers a more personalized digital living experience. The steady influx of new age devices featuring internet connectivity offers freedom that surpasses the linear viewing experience from traditional devices. As compared to non-connected devices, connected living room devices that are enabled with online connectivity offer a higher level of engagement, entertainment, interaction, and access to personalized services.

Key factors driving demand for connected living room solutions include urbanization, rising per capita income, elevated standard of living, and lifestyle upgrades. The digitalization trend represents a key market driving force, along with other factors such as   growing ubiquity of content streaming and widespread use of hi-tech display systems for enhancing viewing experience. Furthermore, the tremendous popularity of mobile video over the last few years is further providing impetus to market growth. High-speed broadband penetration will continue to drive market prospects for connected living room devices, as net savvy consumers are most likely to prefer these devices to access and share a range of online content. Faster home networks such as Gigabit Wi-Fi which enables users to wirelessly stream high-quality video and games three times faster is expected to further catalyze market growth. Cloud computing is also playing a key role in influencing growth by enabling users to store unlimited volumes of songs, movies, videos and apps that can be accessed by any mobile device via an internet connection. 

Smartphones dominate the connected living room market owing to their low average cost and high volume sales. The advent of 4G network technologies and declining prices of 3G data and voice services are expanding the appeal of smartphones as a connected home device. Smart TVs, another key segment of the market, is taking digital television experience one step further by allowing users to watch their regular broadcast programs over cable or satellite services, and also explore the Internet for a range of informative and entertaining content

As stated by the new market research report on Connected Living Room, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 7.1% over the analysis period, supported by rapid penetration of high-speed broadband Internet, replacement of traditional televisions with smart TVs, and rising consumer spending on smart mobile computing devices.

Major players covered in the report include Echostar Corporation, Google Inc., Koninklijke Philips N.V., LG Electronics, Inc., Microsoft Corporation, Motorola Mobility, Inc., Nintendo, Pace Plc, Panasonic Corporation, Sony Corporation, Samsung Electronics, Sharp Corporation, Technicolor, TiVo Inc., and Toshiba Corp., among others

The research report titled “Connected Living Room: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, and strategic industry activities. The report provides market estimates and projections for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK and Rest of Europe), Asia-Pacific, Middle East & Africa and Rest of World. The report is analyzed by following segments – Smart TVs, Smartphones, Tablets, Others (Media Streaming Players (Blu-Ray Players & DVD Players ), Set Top Boxes, Video Games Consoles, and PCs).