8 | BusinessWorld |
June-July 2014
EXECUTIVE
SUMMARY
Connected Living RoomMarket to
Approach $1 Trillion
The connected living room market is
expected to cross $957.65 billion by 2020 at a
compound annual growth rate of 6.8 percent
from 2014, according to a report released by
Markets and Markets, a Texas-based market
research company and consulting firm.
The connected living room has a very broad
market classification. The living room
devices in the early 1980s were typically
televisions. With the emergence and
evolution of the consumer electronics
industry, products such as the digital set-top
box, digital video recorder and home theater
system, digital media items like Blu-ray
players, and gaming consoles made their
entry.
The transformation of the living room into a
dig ital entertainment hub has been
influenced by a variety of factors, including a
shift towards digitization – making the use
and storage of media content ver y
convenient andhighly user friendly.
Major living room devices covered in the
study were smartphones, tablets, laptops,
TVs, set-top boxes, DVRs, home theater
systems, gaming consoles andBlu-ray players.
These devices have evolved to become an
integ ra l par t of a t ypi ca l in-room
