According to a report,"Connected Living Room Market Size, Share & Trends Analysis Report By Device Type (Smart TVs, Smart Speakers, Gaming Consoles), By Application (Video Streaming, Audio Streaming, Gaming), And Segment Forecasts, 2019 - 2025", published by Grand View Research, Inc.,
The global connected living room market size is projected to reach USD 70.67 billion by 2025, expanding at a CAGR of 8.6% over the forecast period, according to a new report by Grand View Research, Inc. The increasing adoption of smart TVs and smart speakers is expected to drive the growth.
The smart TVs have evolved drastically in recent years with increased connectivity and accessibility to various applications and platforms. The wireless connectivity has enlarged the televisions compatibility with a large number of complimentary devices such as smartphones and tablet PCs. This has further helped integrate various other devices with the large screen comfort of a smart TV.
The video streaming application segment is expected to lead the connected living room market over the forecast period as increasing number of households continue to subscribe for video-on-demand services. Video streaming has revolutionized the entertainment industry and video-on-demand is emerging as a potential substitute to conventional television broadcasts. At the same time, the growing trend of streaming live videos over social media and other platforms is underlining the importance of connected devices and making it evidently necessary for the masses to get acquainted with these devices. These factors are expected to continue propelling the growth of the market over the forecast period.
Asia Pacific is estimated to dominate the connected living room market over the forecast period. The number of smartphone users in the region is rising continuously as communication networks continue to strengthen and the youth population continues to increase. Moreover, the demand for smartphones, gaming consoles, and tablet PCs in the region is growing as the popularity of social media platforms among the youth population continues to grow. All these factors bode well for the regional market.
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Further key findings from the study suggest:
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North America audio streaming segment was valued at USD 1.74 billion in 2018 and is expected to reach USD 3.11 billion by 2025, at a CAGR of 8.0% over the forecast period
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Canada smart speakers segment is expected to reach USD 0.11 billion by 2025, registering the highest CAGR of 12.6% from 2019 to 2025
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The launch of smart speakers with artificial intelligence that can be integrated with other devices is expected to drive the growth of the connected living room market over the forecast period
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German video streaming segment is expected to reach USD 3.60 billion by 2025
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Mexico tablets application market is expected to reach USD 0.06 billion by 2025
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Grand View Research has segmented the global connected living room market on the basis of device type, application, and region:
Connected Living Room Device Type Outlook (Revenue, USD Billion, 2015 - 2025)
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Smart TVs
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Gaming Consoles
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PC/Laptop
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Smart Speakers
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Smartphones
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Tablets
Connected Living Room Application Outlook (Revenue, USD Billion, 2015 - 2025)
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Video Streaming
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Audio Streaming
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Gaming
Connected Living Room Regional Outlook (Revenue, USD Billion, 2015 - 2025)
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North America
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U.S.
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Canada
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Europe
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Germany
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France
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U.K.
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Asia Pacific
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China
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Japan
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India
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Latin America
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Brazil
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Mexico
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MEA
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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