Emerging Opportunities in Universal Remote Controls Market with Current Trends Analysis
Fact.MR has announced the addition of the “ Universal Remote Controls Market Forecast, Trend Analysis & Competition Tracking - Global Review 2018 to 2028"report to their offering.
[USPRwire, Thu Mar 14 2019] The growing adoption of smart devices is fuelling the global universal remote controls market. Universal remotes are designed to control multiple brands of one or more types of devices. Universal remote controls help operate consumer electronic devices, such as TVs, audio devices, lights, AC, gaming consoles and others. Generally, these devices are classified as low-end, mid-end and high-end universal remote controls. Low-end devices have the ability to control very few devices that are set by manufacturers. Mid-end and high-end devices allow users to program and set the number of devices to be controlled.
In May 1985, Phillips launched the first universal remote control device under the brand name Magnavox. In May 1987, the first programmable universal remote control was launched by CL 9, a start-up founded by Steve Wozniak. The market for has witnessed several developments in terms of technology. With continuous developments in technology, vendors are offering universal remote controls with Wi-Fi, LCD touchscreen and radio technology. Wi-Fi enabled universal remote controls are gaining momentum in the market. They enable users to bypass the cable provider to find what’s playing on TV through a Wi-Fi network. In addition, the updates of a TV program are displayed on the LCD screens of universal remote controls. LCD touchscreen devices have luminescent LCD screens that display “virtual buttons.” Radio frequency universal remote controls use radio frequency waves to control the electronic devices that are blocked by obstacles such as walls or cabinets. Universal remote controls are programmed with macros that enable the programming of several commands in one button. For instance, with the help of macro-programming, the TV as well as the satellite dish can be turned on with a single button.
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Universal Remote Controls Market: Drivers and challenges
The growing trend of Do It Yourself (DIY) is driving the global market as customers can download the codes and programs of universal remote controls by themselves. Programming and installation does not require any expert assistance. Moreover, factors such as increasing smart home devices and advancements in technology are propelling the global market. Increase in the adoption of smartphones is expected to contribute significantly to the growth of the global market during the forecast period. Increase in spending on advanced technology devices is expected to have a huge impact on the growth of the global market.
However, the high cost of universal remote controls as compared to device-specific remotes is expected to hinder the growth of the global market in the emerging countries of Asia Pacific and Africa. Moreover, the threat of network hacking is likely to be another restraint for the Wi-Fi enabled universal remote controls market.
Universal Remote Controls Market: Segmentation
Segmentation based on components:
The market is segmented based on the components, i.e. hardware and software. The hardware segment is expected to hold a major market share in the global universal remote controls market during the forecast period.
Segmentation based on the type of remote:
The universal remote controls market is segmented based on the type of remote, i.e. multiband remote and learning remote. Learning remotes are expected to hold a major share of the market during the forecast period due to the feature of “macro programming.”
Segmentation based on the function:
The universal remote controls market is segmented based on the function, i.e. audio devices, video devices, gaming devices, lighting, air-conditioners and others.
In June 2016, Logitech launched Harmony Pro, a new universal remote control for automated homes. Harmony Pro controls all A/V equipment along with ZigBee and Z-Wave devices via a mobile application.
In June 2018, Amazon launched Fire TV Cube by combining Echo speaker and Fire TV into a single device. The device enables communication with TV setups, cable boxes and sound bars.
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Some of the key players of the universal remote controls market are Advanced Media Technologies, Inc.; Universal Remote Control, Inc.; Logitech International S.A.; VOXX Accessories Corp.; GENERAL ELECTRIC; Savant Systems LLC; Amazon.com, Inc.; Cisco Systems, Inc. and Imagine Communications Corp.
The universal remote controls market is segmented into North America, Latin America, Western Europe, Eastern Europe, South East Asia (SEA), China, Japan and Middle East & Africa. At present, North America holds the largest share of the global market because of the high adoption of advanced technology by end consumers. Western Europe and SEA are also significantly adopting universal remote controls and are expected to have high potential during the forecast period.
The report covers exhaustive analysis on:
Universal Remote Controls Segments:
Historical Actual Market Size, 2013 - 2017
Market Size & Forecast 2018 to 2028
Market Current Trends/Issues/Challenges
Competition & Companies involved
Market Drivers and Restraints
Regional analysis for Universal Remote Controls Market includes development in the following regions:
North America Universal Remote Controls Market
Latin America Universal Remote Controls Market
Western Europe Universal Remote Controls Market
Rest of Western Europe
Eastern Europe Universal Remote Controls Market
Rest of Eastern Europe
SEA and Other APAC Universal Remote Controls Market
Australia and New Zealand (ANZ)
Rest of SEA
Japan Driver Universal Remote Controls Market
China Universal Remote Controls Market
Middle East and Africa Universal Remote Controls Market
Other Middle East
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Detailed overview of parent market
Changing market dynamics of the industry
In-depth market segmentation
Historical, current and projected market size in terms of value
Recent industry trends and developments
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
Must-have information for market players to sustain and enhance their market footprint
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