According to a new market research report "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], Technology (Processor, Memory, Sensor, Connectivity), & Geography - Global Trend & Forecast to 2013 - 2020", published by MarketsandMarkets, the total digital living room market is expected to cross $357.24 Billion by 2020 growing at a single digit rate from 2014 to 2020.
Browse 190 Market Data Tables and 50 Figures spread through 368 Pages and in-depth TOC on "Connected Living Room Market".
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Connected living room a well know concept in the industry now is gaining attention from manufacturers due to its high expected growth also the TV industry is acting as the backbone for connected living room market.
The past few years, has witnessed the emergence and growth of the TV market, and it is predicted that 513.46 million TV’s in use by 2020. The future for TV looks very bright heading into 2014, especially of OLED TV’s. As the connected world moves even further into the living room, OLED TV’s will overtake any other forms of TV technology to drive the connected living market to high level.
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OLED TV’s which were introduced in late 2012 has showed a huge growth opportunity due to its huge performance capabilities over its competing technologies. OLED TV panels offer several advantages over LED and Plasma TVs with respect to energy efficiency, size, picture quality, and environmental pollution. All the advantages point to OLED TVs taking over the market share from LED TVs but the current cost of manufacturing OLED display panels is much higher than a typical LCD or plasma display. Albeit they still form only a small amount of the total TV’s market, due to their high prices, they are expected to show highest growth rate of more than 61%, from 2014 to 2020. It is also expected that by 2020, OLED TV’s will share around 45% of the total TV’s market. Also today television market shares around 75% of the total connected living market, hence saying that OLED TV will be a magic wand for connected living room market will not be erroneous.
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The biggest pulling back factor for the growth of OLED in connected living room market is its high prices, but with the large scale production plants which are planned for the next two years by different giants in electronics market like Sony, Samsung, Panasonic and LG, will help to show a steep drop in its price. All such factors mentioned above will surely transform the overall connected living room market to much superior level.
APAC has emerged to be a promising one for the digital living room devices. With the transition from analog to digital systems gaining pace owing to the government institutions, APAC will be the biggest market for the digital living room devices. Currently APAC hold around 34% of the total market of connected living room, and will continue to do so in coming years.
The TV systems holds the highest share of around 75% of the total connected living market, and the APAC stands as a home ground for the TV’s market, hence APAC will show a tremendous growth in its market share. Most of the countries like India and China in this region are expected to completely shift towards digital systems by end of 2015, hence driving the preference to OLED and LED TVs. Key players like Samsung, LG, Panasonic, Sony, Toshiba, among the others in the TV industry have shifted their focus towards pushing more and more LED TVs and OLED TV’s into these regions. Besides, Smart TVs and 3D TVs have found immense popularity in APAC. China and Japan are the major markets for these TVs along with emerging countries like India with a huge market potential. China alone contributes to nearly 20% of the global smart TV shipments in 2013. Moreover, with respect to set top box market, India and China are the major markets driving the demand, with 2015 set to be the year by which they are expected to complete the transition towards digital broadcasting systems.
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Coming to Rest of the World (ROW) region that includes Latin America, Middle East and Africa has lately witnessed an increasing demand for digital living room devices. The increasing penetration of television systems and Set-top boxes into households has contributed to the overall digital living room market for ROW. Also the total connected living room market is expected to grow at a rate of 9.54%. With the increase in standard of living in ROW region more and more consumers are expected to divert their preferences towards connected living room, leading to the increased growth rate.
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