Analysis of Smart Remote Control market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
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The smart remote control market remains consolidated, with leading companies, such as Logitech International S.A., Koninklijke Philips N.V., and Universal Electronics, collectively holding nearly 40-50% market share.
Developed economies, such as North America, and Europe have witnessed a rapid surge in popularity of home automation technology in recent years, with the introduction of smart technologies that enable an interconnected environment.
New and innovative product launch has become the key growth determinant in the smart remote control market. Logitech International S.A, for instance, recently launched an all-new and easy to use universal voice remote - Harmony Express.
Smart remote control devices are also infiltrating the developing regions at a fast pace, with leading players eying East Asia and South Asia to expand their business by making ease accessible to untapped potential users.
Furthermore, as technology continues to advance exponentially, blockades to commercialization, entry, and learning are eroding, which is enabling new market entrants to try their luck in the proliferating and innovation-driven consumer appliance industry. Sevenhugs Inc., for instance, marked a strong presence in the smart remote control market recently with the launch of its Sevenhugs Smart Remote that unlike several variants, comes with motion-tracking and indoor position sensors.
End-Users Continue to Prefer Wi-Fi based Smart Remote Control
The WIFI based smart remote control technology continues to witness substantial demand, primarily driven by shifting consumer preference for convenience in the use of residential, commercial and industrial electronic devices. However, with consumers curious to leave old and try something new, adoption of more innovative products, such as radio smart-control based variants is likely to grow.
Since radio-frequency smart remote control variants don’t require internet, and can transmit signals through thick layers of obstructions from, their demand will continue to grow in the foreseeable future.
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Smart Remote Control Market - Research Methodology
A realistic methodology along with holistic approach makes the base of the incisive insights encompassed in the smart remote control market. The Fact.MR report offers comprehensive information on the growth prospects of smart remote control sector in tandem with enthralling insights into the forecast analysis of the market.
Substantial primary and secondary research has been carried out to accumulate valuable insights into the forecast analysis of smart remote control market. The report on smart remote control market has also endured cross-validation to ensure the delivery of accurate information to the market enthusiasts.
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The global market is poised to record a staggering CAGR of 18% by the end of forecast period.
The global market is segmented by technology type, by application and by regions.
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