Global sales of smart remote control were upward of 10,500 thousand units in 2018 and are estimated to record a Y-o-Y growth at over 18% in 2019. The smart remote control industry continues to remain influenced by a slew of factors that range from focus of players to offer enhanced user experience by leveraging modern interaction technologies, to proliferation of IoT devices and home automation systems.
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Remote Control Market in Numbers:
- The smart remote control market registered a CAGR of nearly 17% during the period, 2013 to 2017. The smart remote control industry has been influenced by the transformations in application paradigms, from human to machine communications, leading to services such as smart control systems.
- The smart remote control market has been estimated to exceed revenues worth US$ 500 Mn in 2019, and record a Y-o-Y growth at nearly 18% in 2020.
- North America will remain the leading as well as high-growth market for smart remote control, upheld the consolidation of leading players in the region.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Opportunity Assessment
1.3. Mega Trends
1.4. Fact.MR Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Introduction
3. Smart Remote Control Market Background
3.1. State of the Smart Home Market – Overview
3.1.1. Top Countries Share in Smart Home Market
3.1.2. Top Segments Share in Smart Home Market
3.2. Market Penetration of Smart Remotes
3.3. Improving Living Standards & Technological Advancement
3.4. Smart TV Market Outlook – By region
3.5. E-Commerce Industry Outlook – By Region
3.6. Key Electronic Manufacturing Clusters
4. Market Dynamics & Associated Industry Assessment
4.1. Market Dynamics
4.1.1. Market Driving Factors and Impact Assessment
4.1.2. Prominent Market Challenges and Impact Assessment
4.1.3. Smart Remote Control Market Opportunities
4.1.4. Prominent Trends in the global market & their impact assessment
4.2. Supply Chain Analysis
4.3. Global Smart Remote Control Market Scenario Forecast
4.4. Global Smart Remote Control Market – Forecast Factors
to be Continue
Residential Use Cases Account for 8 in 10 Smart Remote Control Sales
According to the study, adoption of smart remote control remains high among residential consumers, accounting for over 80% sales. Fast permeation of home automation systems in developed markets such as North America and Europe have been of the leading aspects driving demand for smart remote control in the residential sector. Smart remote control manufacturers are continuous focusing on offering advanced solutions by leveraging interaction technologies, along with multi-modal output capability and context awareness of modern computing devices.
Leading players in smart remote control market are making significant investments in their marketing campaigns, while focusing on product offerings at competitive prices to capitalize on growing penetration of smart home devices. While these players are providing consumers with cutting-edge solutions, emerging players are focusing on offering cost-effective alternatives to cash in on opportunities in developing markets.
The Fact.MR study opines that North America will continue to lead the smart remote control market, with sales of over 4,700 thousand units in 2019. Growing adoption of home automation systems in the region, coupled with rising demand for smart electronic products and home appliances. Occupancy of smart remote control manufacturing giants, coupled with the technological and economic vigor, will continue to favor growth of the market in the region in the foreseeable future.
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