Connected Living Room Market size is Projected to Hit $98.4 Billion by 2032 | Growing at a CAGR of 7.8%
WILMINGTON, DELAWARE , UNITED STATES, September 23, 2023 /EINPresswire.com/ — Allied Market Research published a report on the Connected Living Room Market by Product Type, Application, and Component: Global Opportunity Analysis and Industry Forecast, 2023-2032.
The global connected living room market was valued at $47.3 billion in 2022, and is projected to reach $98.4 billion by 2032, growing at a CAGR of 7.8% from 2023 to 2032.
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A connected living room is a living environment that is outfitted with interconnected devices, technologies, and services that improve the entertainment and connectivity experience for users. It involves connecting and interacting with numerous smart gadgets such as smart TVs, video streaming devices, gaming consoles, audio systems, and smart home automation systems.
There are various advantages to having a connected living room. For instance, it gives more control over things such as energy savings, security, and convenience. Secondly, it provides a simple and efficient method of disseminating timely information and encouraging resident interaction in senior living facilities. Thirdly, it promotes market innovation by increasing the availability of connected products such as smart televisions, smart speakers, gaming consoles, and set-top boxes, among others. And fourthly, it allows the growth in popularity of online media streaming, which is expected to drive the adoption of linked living rooms.
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Competitive Analysis:
The competitive environment of the connected living room industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, connected living room market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the major key players of the connected living room industry include:
⦁ Google LLC
⦁ Apple Inc.
⦁ LG Electronics Inc.
⦁ Roku, Inc.
⦁ Panasonic Holdings Corporation
⦁ SAMSUNG ELECTRONICS CO., LTD.
⦁ Toshiba Corporation
⦁ Amazon.com, Inc.
⦁ Honeywell International Inc.
⦁ Signify Holding
The market for connected living room market demand is anticipated to expand significantly during the forecast period owing to the rising popularity of online media streaming. In addition, the rise of voice-controlled devices and virtual assistants of connected living room devices fuels the market growth. In addition, the connected living room is anticipated to benefit owing to the increase in the adoption of smart TVs and is expected to present enormous opportunities for the market over the forecast period. On the other hand, High deployment costs are anticipated to restrain the market growth during the forecast period.
On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). The Asia-Pacific connected living room market industry is expected to grow at the highest CAGR during the forecast period, owing to the continued industrialization and the rising levels of disposable income within the region.
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Key Benefits for Stakeholders:
⦁ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the connected living room market analysis from 2022 to 2032 to identify the prevailing connected living room market opportunity.
⦁ The market research is offered along with information related to key drivers, restraints, and opportunities.
⦁ Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
⦁ In-depth analysis of the connected living room market segmentation assists to determine the prevailing market opportunities.
⦁ Major countries in each region are mapped according to their revenue contribution to the global market.
⦁ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
⦁ The report includes the analysis of the regional as well as global connected living room market trends, key players, market segments, application areas, and market growth strategies.
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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