USD 2.16 billion
Smart Remote Market Size, Share, Growth Analysis, By Type(Infrared (IR), Radio (RF)), By Distribution Channel(Online, Offline), By Application(Residential, Commercial) - Industry Forecast 2024-2031
Report ID:
SQSG25H2006 |
Region:
Global |
Published Date: April, 2024
Pages:
246
|
Tables:
89 |
Figures:
76
Smart Remote Market Insights
Global Smart Remote Market size was valued at USD 2.16 billion in 2019 and is poised to grow from USD 2.33 billion in 2023 to USD 4.58 billion by 2031, growing at a CAGR of 7.8% in the forecast period (2024-2031)
Smart remote is a type of remote control that have control over several gadgets. It can control the gadgets through Wi-Fi network. The smart remote market is being driven by the developing number of remote-controlled electronic gadgets and the simplicity of involving a single remote control for all devices.
This can be credited to the rising interest for smart remotes, utilized for home appliances in emerging regions such as Asia Pacific. The rising tendency of the customers towards comfort, in excess of cost, has prompted the developments and upgrades that enhance the client experience, combined with progressions in technologies such as graphical user interface (GUI). Therefore these aforementioned aspects have finally influenced the progressions in remote control innovation, similar to smart remotes.
US Smart Remote Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Infrared (IR)
Fastest Growth
Infrared (IR)
Growth Rate
7.8% CAGR
Global Smart Remote Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Smart Remote Market Size by Type, 2022-2028 ($ Bn)
Global Smart Remote Market Size by Type, 2022-2028 (%)
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Smart Remote Market Segmental Analysis
Smart Remote Market is segmented based on type, distribution channel, application and region. Based on type Smart Remote Market is segmented into IR, RF, Bluetooth and WiFi smart remotes. Based on distribution channel Smart Remote Market is bifurcated into online, offline. On the basis of Applications Smart Remote Market is classified into Residential and Commercial. Based on region Smart Remote Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Smart Remote Market Analysis by Type
The WiFi based smart remote control innovation keeps on witnessing significant demand, essentially determined by shifting buyer inclination for convenience in the utilization of residential and commercial industrial electronic devices. Nonetheless, with buyers inquisitive to leave old and experience new devices, acceptance of innovative items.
Radio smart remote based variations is possibly going to advance at a substantial pace by 2028. Since radio-frequency smart remote controls doesn't need internet, and can send signals through thick layers of blockades is projected to upsurge the consumption in the near future.
Smart Remote Market Analysis by Distribution Channel
Offline distribution channel fragment added the most noteworthy share in the worldwide smart remote market revenue in 2021. The segment involves supermarkets, hypermarkets, specialty stores, independent retail stores, etc. The arrangement of the coordinated retail area has ensured attractive visibility of shopper for the existing electronic items. Also, expanding coordinated retail area in emerging economies such as India, China and Japan are expected to increase demand for the smart remote control in the estimated timespan.
Online channels will enroll the most notable development rate from 2022 to 2028 due to its evolving utilization. Foremost smart home appliance producers are joining hands with online retailers to arrive at the new purchaser's base. Likewise, the flood in deals of smart home appliances primarily by means of organization's own websites and other e-commerce platforms are further expected to impel the development of online distribution channels, during the projected time frame.
Smart Remote Market Analysis by Application
Residential applications contributed a considerable revenue share in the global smart remote market during 2021. This is attributed to the rising interest for smart home appliances such as smart televisions, smart AC; smart thermostat etc. These are joined by a smart remote from its set itself which is outfitted with cutting edge properties. Smart remotes assume a fundamental part as they have voice-controlled features, along with numerous other vital features. Moreover, the developing interest for smart televisions from developing countries, owing to its better picture quality, is further projected to push the development of this smart televisions, directly augmenting the residential application section, during the projected time frame.
Commercial application segment is likewise liable to showcase pleasing development in the smart remote market. Here the devices controlled by smart remote requires to control much more appliances than in residential set-up. In addition, these smart remotes can be utilized for residential appllications as well. The consumption for smart remotes intended for appliances and devices in commercial set-up is mounting from economies such as China.
Global Smart Remote Market By Type, 2021 (%), 2023 (%)
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Smart Remote Market Regional Insights
Asia Pacific added to the most elevated portion in the overall industry revenue in 2021 and is estimated to proceed with a sturdy growth rate, attributable to rising interest for smart home devices from the countries such as Japan, China, and India. Additionally, rising middle-class population and growing disposable income within the region is on of the primary factor for the continued demand for smart home appliances, which will significantly expand the interest for smart remote in the coming years.
Middle East and Africa is anticipated to develop essentially from 2022 to 2028. This can be credited to the quick acceptance of smart home apparatuses inside this region. Developing interest for smart devices, due to the rising purchaser tendency towards Internet of Things (IoT) advancements, alongside development in use on smart home apparatuses are the factors moving the expansion of the smart remote market.
Global Smart Remote Market By Geography, 2022 - 2028, 2024-2031
- Largest
- Fastest
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Smart Remote Market Dynamics
Smart Remote Market Driver
- Shifting buyer inclination for comfort over cost has prompted progressions in improving client experience, utilizing the communication technologies such as graphical user interface (GUI). These factors have indirectly influenced the improvements in remote control innovation.
- Progresses in smart remote control have likewise been affected by endeavors of leading customer appliance organizations on utilizing the context awareness and multi-modular output abilities.
- Expansion of IoT-associated gadgets is a key empowering influencer of smarter living, alongside quick penetration of smaller sensors into existing home structures, has implied that smart home hardware and gadget producers are ceaselessly competing to stay at the front. This will essentially provide an exponential push to smart remote control improvements within a forecast time-frame.
- Developing acknowledgment of consumer appliances manufacturers has prompted a change in their concentration towards improvement and interest in advancement driven arrangements. Such progressions in functionalities and attractive designs of home equipments will keep on leaning toward smart remote market growth.
Smart Remote Market Restraint
- Design and improvement related difficulties have brought about critical passage boundaries to new market participants. Moreover, as leading brands stand firm in the market positioning, resulting in higher cost of the items. This results in a vital hindrance to the adoption of smart remote control.
- Developing accessibility of low cost remotes compared to costly smart remote controls, such as, android and iOS enabled remotes that can limit the growth of smart remote control market.
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Smart Remote Market Competitive Landscape
The existence of several international players defines the global smart remote market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our Smart Remote market reports, some of the leading Smart Remote manufacturers are as follows: Sony Corporation, Samsung Electronics Co. Ltd., LG Electronics Inc., Haier Electronics Group Co., Ltd., Toshiba Corporation, Philips, Bose Corporation, Logitech International S.A., Universal Electronics, HBC-radiomatic GmbH, Crestron Electronics, Inc., Ruwido, Infrared Remote Solutions, SMK-Link Electronics among several others.
Smart Remote Market Top Player’s Company Profiles
- Sony Corporation
- Bose Corporation
- Logitech International S.A.
- Universal Electronics Inc.
- Peel Technologies Inc.
- Savant Systems LLC
- Control4 Corporation
- Ruwido Austria GmbH
- SMK Corporation
- Crestron Electronics Inc.
- Amulet Hotkey Ltd.
- ADT Inc.
- ABB Ltd.
- Leviton Manufacturing Co., Inc.
- BroadLink
- LG Electronics Inc.
- Samsung Electronics Co., Ltd.
- TCL Corporation
- Xfinity
- Amazon.com, Inc.
Smart Remote Market Recent Developments
- In January 2022, SMK Electronics Corporation, announced to unveil its new Android TV OEM Remote Control (SAT RC) at CES 2022. This smart remort control will include Universal IR and Voice Input control oparating to Bluetooth Low Energy remote control platforms.
Smart Remote Key Market Trends
- The rising tendency of the customers towards comfort, in excess of cost, has prompted the developments and upgrades that enhance the client experience, combined with progressions in technologies such as graphical user interface (GUI).
- The developing interest for smart televisions from developing countries, owing to its better picture quality, is further projected to push the development of this smart remotes.
Smart Remote Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, expansion of IoT-associated devices is a key factor for smarter living, besides quick penetration of smaller sensors into existing home structures, driving the smart remote demand. However, low cost remotes compared to costly smart remote controls, such as, android and iOS enabled remotes can limit the growth for smart remotes.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.16 billion |
| Market size value in 2031 | USD 4.58 billion |
| Growth Rate | 7.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Smart Remote Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Smart Remote Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Smart Remote Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smart Remote Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smart Remote Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Smart Remote Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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