Connected Living Room Market Compatibility Issues and Lack of Awareness among Consumers to Limit Uptake
The market also features several network providers, which are making strides to position themselves as the de facto service providers in the connected living room space, and core M2M vendors. There are no clear leaders as the market is highly dynamic in terms of technological advancements and launch of new products.
Obtain Report Details:
In the next few years, the market will become more competitive as technology giants will foray into this budding industry with the help of their applications, products, and services, says Transparency Market Research in a recent report examining the global connected living room market.
This niche segment of the all-encompassing Internet of Things (IoT) phenomenon is expected to expand at a promising 7.3% CAGR over the period between 2016 and 2024. The market, as a result, is expected to rise from US$518.92 bn in 2015 to US$984.51 bn by 2024.
Of the key components used in connected living rooms, the segments of sensors and communication devices held significant share in the market and are expected to retain dominance over the forecast period as well.
In terms of revenue, the regional market in North America dominated, accounting for over 36% of the global connected living room market in 2015. The region was followed by Europe.
Rising Influx of Advanced Products at Competitive Prices to Fuel Global Demand
The global market for connected living rooms is chiefly driven by factors such as the vast rise in digitization of a vast set of processes and operations undertaken in everyday lives, rising influx of latest home infotainment devices with better resolution and competitive pricing, and advancements in the technology needed to enable connectivity between several varieties of electronic devices.
Increased affordability of the relatively higher priced devices equipped with M2M connectivity and improved standards of living, especially across developing economies.
Make Enquiry @
Attempts by government bodies to encourage the proliferation of digital technologies and applications as a way to improve governance of a nation and societal well-being are also making consumers more open to adopting smart devices for everyday purposes. These factors are expected to collectively drive the market for connected living rooms over the forecast period.
Compatibility Issues and Lack of Awareness among Consumers to Limit Uptake
Although the overall growth prospects of the global connected living room market are favorable, factors such as lack of awareness among consumers about the energy efficiency-related benefits of connected rooms and compatibility issues of components could pose challenges to market’s growth.
Connected living rooms typically utilize a variety of digital and electronic components such as lighting controls, security systems, and entertainment devices, which make use of different types of communication links.
Incompatibility of some communication links with advanced devices in a connected living room could lead to complications. Such compatibility issues may lead to the need for replacing older devices with advanced versions, leading to overhead costs thus refraining cost-sensitive consumers from investing in connected living rooms to a certain extent.
Lack of awareness among consumers is another key factor expected to hamper the widespread usage of connected systems such as lighting control products. Lighting control products are not yet mainstream in many developing countries and misconception of high installation costs is posing further challenges to prospects of adoption among consumers.
Get TOC @ https://www.transparencymarketresearch.com/report-toc/1933
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Connected Living Room Market Compatibility Issues and Lack of Awareness among Consumers to Limit Uptake here
News-ID: 833859 • Views: 139
More Releases from Transparency Market Research
Market Intelligence Report on Calcite Market, 2018-2028
Sales of calcite have witnessed utter proliferation in recent time, in line with the growing demand from paper and pulp sector wherein calcite is highly adopted as a coating and filler material. According to Transparency Market Research analysis, global calcite market is anticipated to register 4.7% CAGR during the study period 2018–2028. The TMR report opines that demand for calcite is highly driven by its significant properties that are paving way
Pearlescent Pigments Market Intelligence Report Offers Growth Prospects
The demand within the global pearlescent pigment market is slated to rise as new creative avenues emerge in the art and craft industry. Several artists have increased the consumption of pearlescent pigments, mainly due to the aesthetic value of these pigments in art forms. The use of these pigments can majorly be attributed to the gloss and shine imparted by these pigments to the design or craft. These pigments exhibit
Aragonite Market to Witness Steady Growth During the Forecast Period 2018-2026
Global Aragonite Market: Overview Aragonite is a carbonate mineral having an orthorhombic crystal system, and very closely resembles calcite. It is considered as the purest form of calcium carbonate. The mineral has garnered wide popularity as gemstone in various parts of the world and has promising healing properties with energy enhancing powers. Aragonite contains traces of magnesium and sand inclusion but rich in calcium carbonate, and is alkaline in nature. It
OEM Insulation Market Growth, Trends and Value Chain 2019-2027 by TMR
OEM Insulation Market – Overview OEM means Original Equipment Manufacturer that indicates to a company that produces a part or a subsystem of a product that is being used by another organization. Thermal insulation or simply insulation allows the product to cut down the heat gain or loss at the minimum by creating a barrier between the surfaces at the varying temperatures. There are wide range of applications and end-use verticals
More Releases for Lack
Adaptive Security Market - Lack of Consumer Awareness Might Hamper Global Market …
Zion Market Research Offers an 8-Year Forecast In 110+ Pages Research Report "Adaptive Security Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024" Between Forecasting Years. The main objective of this Adaptive Security Market report is to offer update and information on the market and also identify all the opportunities for growth in the global Adaptive Security Market. The report starts with a market overview and provides market
Direct Diode Lasers Market - Lack of Commercialization and Requirement of Skille …
Direct diode lasers are type of laser devices where the output of laser diodes is directly used for laser material processing application. Since it is direct, the diode laser has high conversion efficiency and a very simple construction. Across the globe, direct diode lasers are gaining motion over the CO2-based traditional cutting systems for different metal processing. This is mainly due to their major advantages such as higher cutting speeds,
Homeland Security Market Lack of awareness
Homeland security refers to defending and safeguarding a nation from antisocial threats. It is a government initiative to increase security of homeland and improve resilience against possible natural as well as man-made disasters. Homeland security system of a country encompasses security against several threats, including terrorist attacks, illegal weapons, cyber fraud, drug trafficking, hurricanes, floods, earthquakes, tornadoes, and others. It ensures safety of public sectors including aviation security, border security,
Lack of Sleep Could Contribute to Weight Gain, Researchers Conclude
A study published May 1st, 2012 in the journal Sleep concluded that insufficient sleep might contribute to weight gain. The researchers examined sleep and body mass index (BMI) in twins and found that sleeping more than nine hours nightly might suppress genetic influences on body weight. After looking at 1,088 pairs of twins, they found a correlation between sleeping fewer than seven hours a night with an increased
Study highlights lack of digital marketing effectiveness within Pharma
Study highlights lack of digital marketing effectiveness within Pharma Pharmaceutical companies appear dedicated to increasing their digital marketing activities. While ‘digital’ currently receives a minority of marketing spend - less than 10% for most - two-thirds of study respondents expect an increase in 2011. This is one of the findings from a report published by EPG Health Media. The 26 page report is based on independent market research conducted in September 2010,
Companies who lack technology also lack profitability
In this changing economic climate technology should be utilised more efficiently and effectively by companies of all sizes. Technology can provide businesses with the competitive edge that can lead to greater profitability and growth. The problem that a lot of firms are faced with today is that they don’t fully understand the advantages technology offers. This is due to a lack of knowledge, understanding, in-house expertise, lack of