May 24, 2019 by Steve Blade
Ranging from smart lights to intelligent kitchen appliances, the consumer electronics market has been flooded with an assortment of smart products that are easily penetrating the market. Smart TVs, kitchen appliances, bathroom equipment, lights, and blinds are some of the innovative products launched in recent times. The substantial growth in the smart devices market is opening up new avenues for smart remote control manufacturers to venture in. Further, healthy expansion in internet services is likely to provide the platform required for Smart Remote Control Market to build on.
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Ongoing advancements in technology are helping enterprises approach different applications with a new perspective. With the Internet of Things (IoT) witnessing growing penetration, enterprises are finding it easy to market and sell their products to a newfound consumer base. Banking on the trend, enterprises are launching new and innovative smart devices that can be centrally controlled with a single device.
Increasing fascination with modern technology and growing demand for new and cutting-edge products has given rise to the pervasive trend of incorporating nascent and upcoming technologies with smart remote controls. Introduction of voice control, automatic detection of devices, and touchscreen remotes are some of the remarkable developments in the smart remote control market that have garnered popularity amongst masses. Further, ongoing researches to enhance performance and increase user-friendliness is another key factor driving the growth of the smart remote control market. For instance, ongoing research aims to enhance the user experience by making smart remote control more content-aware.
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Smart remote controls offer a simple alternative to replace multiple remotes that are required to operate different entertainment units. In addition to this, the devices aid in controlling lighting, blinds, windows, temperature, and other household devices at the touch of a single button from anywhere inside the house. The utility offered by the device coupled with its simplicity of operation is a pivotal reason for smart remote control market gaining widespread global traction. . Moreover, the continuous monitoring services offered by smart devices enable consumers to save resources and eventually cut down on costs by reducing wastage. The benefit of cost-effectiveness provided by smart devices has further fuelled the demand for products in the segment.
Irrespective of their size and extent, companies are investing largely in smart technologies to bank on the rise in sales and adoption of such technologies. The increase in investments has allowed companies to market smart devices at competitive rates to capitalize on the penetration that the technology has achieved. While large companies provide consumers with exclusive and most cutting-edge technology, mid-sized and startups bank on providing cost-effective alternatives to comparatively old devices and automation equipment. End-users of smart technology are likely to benefit from the increasing level of competitiveness which, in turn, is expected to boost the smart remote control market penetration.
Keeping up with the changing digital landscape, Samsung launched its new smart remote control, the One Remote for operating smart TVs and other entertainment devices. With features like voice control, automatic detection of devices, automatic suggestions, and a user-friendly interface Samsung plans to tap into extensive consumer base that is fascinated with technology.
To capitalize on the growing Smart TV and devices market, Logitech launched Harmony Companion in 2018. The smart remote control can control TVs, set-top boxes, Amazon’s Fire Stick, Roku, and Philips Smart lights.
Sevenhugs released the first of its kind smart remote that could control everything from lighting to air conditioning. The remote is equipped with intuitive technology that can automatically detect the device being pointed at and then offers multiple options to control it.
With smart devices demands steadily increasing, Indiegogo launched its Beak, a smart remote control that supports an array of wireless protocols and can control multiple smart appliances and devices.
A strong economy coupled with a high disposable income of the regional population is estimated to aid North America in the holding the largest share of the smart remote control market in the foreseeable future. Rising popularity and widespread adoption of smart devices in North America will further contribute to the cause. China, SEA, and other countries in APAC are anticipated to emerge as the fastest growing market on account of lax regulations and the availability of cheap labor in the region. Developing economies in the Latin American region is expected to drive the growth of the smart remote control market in the region.
This analytical research study imparts an all-inclusive assessment on the smart remote control market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this detailed study. Information and analysis on key smart remote control market segments incorporated in the report has been delivered in weighted chapters.
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
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