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Remote Control Market to Create Lucrative Opportunities for Emerging Players, Finds Fact.MR

August 26, 2019 by Steve Blade  

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.

In Brief:

  • Global remote control market registered a value CAGR of 1.3% for the period between 2014 and 2018. Robust development in entertainment industry along with increasing number of consumers watching television for different purposes has underpinned the growth of remote control market.
  • Worldwide sales of remote control closed in on revenues worth US$ 7 billion in 2018, and are projected to record a Y-o-Y growth of 1.3% in 2019.
  • North America will continue to remain the leading market for remote controls, with revenues estimated to be in an excess of US$ 1.8 billion in 2018. Remote control sales in the region are driven by growing popularity and adoption of wide-range of smart devices and home automation systems.
  • Latin America is likely to be a high-growth market for remote controls, which is envisaged to register a Y-o-Y of 2.5% in 2019 over 2018.

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Key Growth Drivers of Remote Control Market?

  • Remote control market has been primarily influenced by the significant growth in consumer electronics sector in line with a notable rise in the demand of smart devices.
  • Growing home automation, especially in developed markets such as North America and Europe, has led to surge in the demand for smart home appliances, which in turn drive the sales of remote controls for smart TVs, air conditioners, lights, kitchen appliances, bathroom equipment, blinds, and others. Prospects of remote control market will remain promising, as adoption of automated activities and control solutions has also increased in commercial sector including offices, restaurants, hospitality space.
  • Developing economies are witnessing a remarkable increase in the demand of remote controlled electronic devices to ease operations and enhance work efficiency, on the back of improving economy and high disposable income. This, coupled with increasing spending on advanced technology devices will augur well with the sales of remote controls.

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.

Suzhou SZX Technology Co., Ltd

Founded in 2003, Suzhou SZX Technology Co. Ltd. is headquartered in Jiangsu, China and has a strong portfolio of remote control with variety of products. The company offers ordinary remote control, universal remote control, learning remote control, PC remote control, ultra-thin remote control, set-top box remote control, multi-function remote control, touch-screen remote control, game remote control, and more.

Omni Remote

Founded by Philips in 1990, Omni Remote is based in Singapore and has its presence in various countries including the USA, China, Japan, India, Taiwan, and some part of Europe. The company offers a wide range of design and customization options for remote control to match ever customer’s need.

ZENITH ELECTRONICS, LLC

Established in 1918, Zenith Electronics, LLC is headquartered in Illinois, USA, and focuses on the development and supply of consumer electronics, hospitality products, and healthcare products. The company operates as a wholly owned subsidiary for LG Electronics Inc. since 1999.

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