With the advent of the technology, the attitude of consumers is getting more luxurious and increasingly growing resistant to traditional home entertainment, consequently expecting more and more from the technology. Owing to this business are faced with the challenge of retaining and growing a steady customer base. Currently, living rooms are loaded with numerous devices for fun and entertainment; with them comes huge mesh of wires and complexities. So consumers are expecting something that can easily help them to control every device in the home with a single device that easily accommodate in their hands; connected living room is something that serves the purpose.
There is shifting trend from the conventional living rooms to a much more advanced and connected living room. Today it is possible to control all the devices such as home theaters, TV’s and music systems in the living room with a single device like smartphone or a tablet. The connected living room market is expected to see robust growth from its current size. The idea of streaming music, photos and more on TV, home theater, music entertainment devices using smartphone is triggering the growth in the connected living room market. The figure below gives the connected living room market forecast and the market share of different products.
The battle to control the living room features, an impressive list of major technology players Microsoft, Sony, Apple, Amazon, Samsung, Bose, LG, and Philips are all making a bid to control your living room. With that control come the ability to sell apps, movies, TV content, games, and more. The transformation of the living room into a digital entertainment hub of a home has been influenced by a variety of factors. One of these major factors has been the beginning of the shift towards digitization, making the use and storage of media content very convenient and highly user friendly.
Connected living room market has yielded positive results. The benefits over the traditional home entertainment products are increased sales, additional generation of revenue stream, broad enhancement and cost saving.
The ones that are being benefited with the growth in connected living room market are raw material & manufacturing equipment suppliers, semiconductor component vendors, content developers, mobile apps developers, advertising agencies, Pay TV/broadband and cable operators, original device manufacturers (ODMs), original equipment manufacturers (OEMs) (end-user application or electronic product manufacturers), ODM and OEM technology solution providers, distributors and retailers, research organizations, and technology standards organizations.
Although the precise benefits may presently be difficult to quantify as there are numerous devices that can be considered in connected living room concept, but it is clear that the benefits and its adopters will vary accordingly to their specific objective. Connected living room presents new opportunities to change the nature and dynamic of customer interaction. As such, a connected living room solution provider with both the business and technological expertise would be the ideal partner for any business. With the right strategy and right solution provider, business could see great benefits from connected living room market.