Global Connected Living Room Market to Reach US$107.0 Billion by 2030

The global market for Connected Living Room estimated at US$808.6 Billion in the year 2023, is expected to reach US$107.0 Billion by 2030, growing at a CAGR of -25.1% over the analysis period 2023-2030. Sensors, one of the segments analyzed in the report, is expected to record a -20.1% CAGR and reach US$45.1 Billion by the end of the analysis period. Growth in the Thermostats segment is estimated at -10.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$228.8 Billion While China is Forecast to Grow at -20.7% CAGR

The Connected Living Room market in the U.S. is estimated at US$228.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$25.9 Billion by the year 2030 trailing a CAGR of -20.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of -28.9% and -24.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately -26.8% CAGR.

Global Connected Living Room Market - Key Trends and Drivers Summarized

The concept of the connected living room, integrated with the broader Internet of Things (IoT), is transforming households worldwide, enhancing comfort, efficiency, and security. Advanced Wi-Fi technology and IoT devices have significantly evolved the home environment, driven by consumer demand and technological advancements. The connected living room includes various digital devices such as smartphones, tablets, laptops, and traditional home entertainment systems like televisions and gaming consoles. These devices, when connected, provide an unprecedented level of control and accessibility, integrating entertainment, convenience, and security into one cohesive network. This ecosystem now extends to home security systems, lighting, thermostats, and appliances, marking a shift towards a fully interconnected home environment. High-speed Wi-Fi technologies, including ultra high-efficiency power amplifiers and front-end modules, support multi-user configurations and high-quality streaming, enhancing the performance of Wi-Fi networks even in densely populated environments.

Consumer expectations and behaviors are pivotal in the shift towards connected living. Modern consumers demand high data throughput from their home networks to support various connected applications, from streaming high-definition media to immersive gaming experiences. Companies like Legrand have made the connected home a reality with products ranging from automated window blinds to master switches for entire lighting systems. Users can control their home environment with simple smartphone commands, adjusting room temperature, brewing coffee, or setting lighting to match their mood, epitomizing the modern digital lifestyle. The adoption of connected living room setups enhances home management aspects such as energy consumption, security, and overall convenience. In senior living facilities, this connectivity improves the dissemination of information and resident interactions, enhancing the quality of life. The integration of online media streaming and interconnected devices creates a cohesive and interactive home environment, driving the adoption of connected living room configurations.

Several key factors drive the growth of the connected living room market. The shift from traditional television viewing to online media streaming platforms like Netflix and Disney+ has increased the demand for smart TVs, media streaming devices, and comprehensive home theater systems, transforming living rooms into multimedia hubs. The ability to integrate home security features, such as smart locks controlled via smartphones and extensive home automation systems, enhances the functionality and appeal of connected living rooms. The expansion of smart TV adoption, with built-in internet capabilities and app functionality, serves as a cornerstone for further adoption of connected devices. Regionally, the Asia-Pacific market is projected to exhibit the highest growth due to rapid technological adoption and increasing consumer demand for connected technology. Major players like LG Electronics, Roku, and Google are enhancing their market positions through strategic innovations and partnerships. The market is segmented by product type, application, and components, with smartphones and tablets currently leading in revenue generation, while smart TVs are anticipated to grow at the highest rate. The demand for multi-device connectivity and advanced display technologies such as 4K and HDR content drives the market forward, reflecting both technological advancements and evolving consumer lifestyles.