Remote Control Market To Grow On A Rejuvenated Note With Innovation At A CAGR Of 5.1% In Forecast Period  : Fact.MR

According to new Fact.MR study, global sales of remote control exceeded 630 million units in 2018, and are anticipated to record a Y-o-Y growth of 2.0% in 2019. The remote control industry continues to be influenced by a range of factors, such as significant development in the entertainment industry, complemented by the introduction of low-power and voice-controlled remotes. The study analyzes the remote control market in detail, and offers readers a thorough analysis of various key dynamics impacting the market growth.

The study finds that a shift in technology from AVC (Advanced Video Coding) to HEVC (High Efficiency Video Coding) to improve video quality for entertainment and media industry, has increased the sales of various entertainment devices including remote control. Prospects of remote control market remain promising, as consumers, especially in developing economies, are willing spend more on entertainment devices such as set-top boxes, gaming consoles, and Blu-ray players, amid improving economic conditions and rising disposable income.

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What are the Key Challenges Faced by Remote Control Market Players?

Although advanced remote controls such as universal remotes have gained increasing popularity for their multi-functional nature, high cost associated with these remotes may abate their adoption, especially in low-income countries.

Complexity of the functions of technologically advanced remotes that require a lot of programming to use it up to its full potential along with risks of network hacking in Wi-Fi or Bluetooth-enabled remote controls may pose as a potential threat to the market growth.

Infrared-based Remote Control Continues to Remain the Top-selling Category

Consumers continue to show marked preference of infrared-based remote controls, with revenues worth over US$ 5.8 billion in 2018. Apart from the benefits of easy operations, infrared-based remote control can send out IR as well as RF signals for every command and allow these signals to penetrate walls and glass cabinet enclosures from about 30-100 feet.

In addition, residential electronic devices account for relatively large sales of remote control, with over 70% share in 2018.

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Remote Control Market - Competitive Landscape

In January 2019, Universal Electronics Inc., a leading player in the remote control market, announced that it has collaborated with Microsoft to launch 'Nevo® Butler', a smart home hub platform with an integrated digital assistant. The companies will also offer a line of turnkey kits to address home safety and security, entertainment control, and energy management, in residential or hospitality sectors.

In January 2019, Dusun Electron Ltd. introduced its far-field voice control solution for hands-free interactive experience at the 2019 Consumer Electronics Show. The new voice control solution uses microphone array to capture voice commands from different directions at a particular distance, and voice data is enhanced by several voice algorithm such as noise reduction, echo-cancellation, and beamforming.

In September 2018, Ruwido's remote control was selected by Andorra Telecom to enhance user experience. The remote control was specifically tailored to the needs of Andorra Telecom's user interface in terms of key mapping, printing, and enabling seamless interaction.

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Remote Control Sales Remain High in North America

The study finds that North America will continue to retain its leading position in the remote control market, with sales of over 175 million units in 2018. Rapid adoption of home automation systems in the region, and increasing demand for home appliances and electronic products that sync well with upward trend of smart homes, are the important factors influencing the growth of remote control market in North America.

According to study, infrared (IR) remote control witnessed worldwide sales of over 535 million units in 2018, accounting for more than 80% share. As IR remote control sends out both IR and RF signals while providing better transfer rate, manufacturers are focusing on developing effective products that allow users to sit still in one place and control television, lighting systems, sound system, and other kinds of AV equipment.

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