Learning Remote Controls Market Pegged for Robust Expansion During 2018 to 2028
The past decade has witnessed high adoption of learning remote controls. This adoption has generated high demand to enhance the functionality of these remote devices across the globe. Thus, to cater to this demand, various types of learning remote control devices have been introduced in the market. Universal connectivity of learning remote controls is making these kind of remote controls more popular in the market. Furthermore, technological advancements and growing adoption of wireless technologies are also creating potential growth opportunities for the learning remote controls manufacturers. Moreover, high demand for smart home devices with advanced functionalities is also fuelling the growth of the global learning remote controls market. That apart, increasing dependency of the consumers on advanced electronic devices and increasing adoption of connected devices in developing and developed economies are the key growth factors pushing the global learning remote control market.
A learning remote control is an electronic device that is programmed to operate various brands of one or more types of consumer electronic devices. Learning remote controls feature learning functions that allow programming from major consumer electronic brands.
Learning Remote Controls Market: Drivers and Challenges
Increasing demand for consumer electronic devices is the primary factor fuelling the growth of the learning remote controls market. In addition, growing per capita income of the middle class in developing economies, rising population and increasing living standard are some of the other factors expected to push the growth of the learning remote controls market over the forecast period.
In the present scenario, fluctuating requirements in the electronic industry and rapid technological advancements are the biggest challenging factors for the global learning remote controls market growth. Furthermore, competition from local players in developing countries is disrupting the growth of the learning remote controls market. In parallel, declining Y-o-Y adoption rate of learning remote controls is being witnessed presently. This rate is further expected to decline during the forecast period due to the growing penetration of the internet and smart devices globally.
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Learning Remote Controls Market: Segmentation
Segmentation of the Learning Remote Controls market on the basis of Price Range:
Below US$ 10
Above US$ 20
In terms of value, the US$ 10-US$ 20 sub-segment accounted for the maximum share in the global learning remote controls market in 2017. On the other hand, the above US$ 20 sub-segment is expected to show maximum growth rate in the global learning remote controls market during the forecast period.
Segmentation of the Learning Remote Controls market on the basis of End Users:
The residential sub-segment accounted for major a market share in the global learning remote controls market in 2017. The growth of residential segment can be attributed to the growing adoption of home appliances in developing countries, such as India, China, Brazil and Russia. Moreover, the commercial sub-segment is projected to register a CAGR of more than 3.5% during the forecast period.
Segmentation of the Learning Remote Controls market on the basis of Sales Channel:
Organized Retail Stores
Unorganized Retail Stores
Due to the double digit growth of the e-commerce market in developed and developing economies, the e-commerce/online segment is projected to grow at a high CAGR during the forecast period.
Learning Remote Controls Market: Competition Landscape
Examples of some of the major players in the global learning remote controls market are VIZIO, Inc., Sceptre Incorporated, Samsung Electronics Co. Ltd., LG Electronics, Logitech, TCL Corporation, Sharp Corporation, Roku, Inc., Philips, Epson India Pvt Ltd., Kenwood Corporation, Haier Group, Yamaha Corporation, among others.
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Learning Remote Controls Market: Regional Overview
Asia Pacific is expected to capture a large market share, in terms of value and volume, owing to the growing per capita income in India and China. North America is expected to exhibit high growth rate in terms of value and volume in the global learning remote controls market due to growing urbanization and technological advancements in the electronic industry and increasing adaptation in residential and commercial sites. Europe and Latin America are also expected witness potential growth opportunities in the global learning remote controls market due to the increasing demand from the residential segment. Moreover, the learning remote controls market in the MEA region is expected to grow at a considerably fast rate during the forecast period due to increasing urbanization in the region.
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