Remote Control Market Size, Share, Trends Analysis & Competition through 2018-2029
• 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.
[ClickPress, Mon Aug 12 2019] In order to dissert the market scenario prevailing across the remote control market sector, FactMR has evenly presented a comprehensive analysis report on remote control market to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the remote control market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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- 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.
What are the Key Challenges Faced by Remote Control Market Players?
- Although advanced remote controls such as universal remotes have gained increasing popularity for their multi-functional nature, high cost associated with these remotes may abate their adoption, especially in low-income countries.
- Complexity of the functions of technologically advanced remotes that require a lot of programming to use it up to its full potential along with risks of network hacking in Wi-Fi or Bluetooth-enabled remote controls may pose as a potential threat to the market growth.
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.
- In September 2018, Ruwido’s remote control was selected by Andorra Telecom to enhance user experience. The remote control was specifically tailored to the needs of Andorra Telecom’s user interface in terms of key mapping, printing, and enabling seamless interaction.
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.
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.
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