Universal Remote Controls Market Progress & Manufacturer Contribution Highlighted until 2028 // Major key Players - Logitech International S.A., VOXX Accessories Corp., GENERAL ELECTRIC, Savant Systems LLC
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In May 1985, Phillips launched the first universal remote control device under the brand name Magnavox. In May 1987, the first programmable universal remote control was launched by CL 9, a start-up founded by Steve Wozniak. The market for has witnessed several developments in terms of technology. With continuous developments in technology, vendors are offering universal remote controls with Wi-Fi, LCD touchscreen and radio technology. Wi-Fi enabled universal remote controls are gaining momentum in the market. They enable users to bypass the cable provider to find what’s playing on TV through a Wi-Fi network. In addition, the updates of a TV program are displayed on the LCD screens of universal remote controls. LCD touchscreen devices have luminescent LCD screens that display “virtual buttons.” Radio frequency universal remote controls use radio frequency waves to control the electronic devices that are blocked by obstacles such as walls or cabinets. Universal remote controls are programmed with macros that enable the programming of several commands in one button. For instance, with the help of macro-programming, the TV as well as the satellite dish can be turned on with a single button.
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The growing trend of Do It Yourself (DIY) is driving the global market as customers can download the codes and programs of universal remote controls by themselves. Programming and installation does not require any expert assistance. Moreover, factors such as increasing smart home devices and advancements in technology are propelling the global market. Increase in the adoption of smartphones is expected to contribute significantly to the growth of the global market during the forecast period. Increase in spending on advanced technology devices is expected to have a huge impact on the growth of the global market.
However, the high cost of universal remote controls as compared to device-specific remotes is expected to hinder the growth of the global market in the emerging countries of Asia Pacific and Africa. Moreover, the threat of network hacking is likely to be another restraint for the Wi-Fi enabled universal remote controls market.
The market is segmented based on the components, i.e. hardware and software. The hardware segment is expected to hold a major market share in the global universal remote controls market during the forecast period.
The universal remote controls market is segmented based on the type of remote, i.e. multiband remote and learning remote. Learning remotes are expected to hold a major share of the market during the forecast period due to the feature of “macro programming.”
The universal remote controls market is segmented based on the function, i.e. audio devices, video devices, gaming devices, lighting, air-conditioners and others.
In June 2016, Logitech launched Harmony Pro, a new universal remote control for automated homes. Harmony Pro controls all A/V equipment along with ZigBee and Z-Wave devices via a mobile application.
In June 2018, Amazon launched Fire TV Cube by combining Echo speaker and Fire TV into a single device. The device enables communication with TV setups, cable boxes and sound bars.
Some of the key players of the universal remote controls market are Advanced Media Technologies, Inc.; Universal Remote Control, Inc.; Logitech International S.A.; VOXX Accessories Corp.; GENERAL ELECTRIC; Savant Systems LLC; Amazon.com, Inc.; Cisco Systems, Inc. and Imagine Communications Corp.
The universal remote controls market is segmented into North America, Latin America, Western Europe, Eastern Europe, South East Asia (SEA), China, Japan and Middle East & Africa. At present, North America holds the largest share of the global market because of the high adoption of advanced technology by end consumers. Western Europe and SEA are also significantly adopting universal remote controls and are expected to have high potential during the forecast period.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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