Blockchain Press Releases
Connected Living Room Market Expected to Reach $98.4 Billion, Globally, By 2032 at 7.8% CAGR: Allied Market Research
The connected living room market is driven by factors such as the rise in popularity of online media streaming, and the rise of voice-controlled devices and virtual assistants.
PORTLAND, Ore., July 4, 2023 /PRNewswire/ — Allied Market Research published a report titled, “Connected Living Room Market By Product Type (Smart TVs, Gaming Consoles, Computer and Laptop, Smart Speakers, Smartphones and Tablets, Security System, and Lighting System), Application (Video Streaming, Audio Streaming, Gaming, and Security), Component (Sensors, Thermostats, Cameras, Communication Device, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global connected living room industry was valued at $47.3 billion in 2022 and is estimated to reach $98.4 billion by 2032, exhibiting a CAGR of 7.8% from 2023 to 2032.
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Prime Determinants of Growth:
The connected living room market is driven by factors such as the rise in popularity of online media streaming, and the rise of voice-controlled devices and virtual assistants. On the other hand, high deployment costs are anticipated to restrain market growth to some extent. However, the increasing adoption of smart TVs is creating a lucrative opportunity for the connected living room market’s growth.
Report Coverage and Details:
Report Coverage |
Details |
Forecast Period |
2023–2032 |
Base Year |
2022 |
Market Size in 2022 |
$47.3 billion |
Market Size in 2032 |
$98.4 billion |
CAGR |
7.8 % |
No. of Pages in Report |
303 |
Segments covered |
Product Type, Application, Component, and Region |
Drivers |
The rising popularity of online media streaming |
The rise of voice-controlled devices and virtual assistants |
|
Opportunities |
Increasing adoption of smart TVs |
Restraints |
High deployment costs |
COVID-19 Scenario:
- The COVID-19 pandemic had led to an increase in demand for connected living room products, such as smart TVs, streaming devices, and gaming consoles, due to lockdowns and social distancing measures that forced people to stay at home. Consumers sought entertainment options and ways to stay connected with friends and family remotely, leading to higher sales of smart TVs, streaming devices, gaming consoles, and other connected devices for the living room.
- Furthermore, with movie theatres closed and limited outdoor entertainment options, people turned to streaming services, resulting in a higher adoption of streaming devices such as media players and smart TVs with built-in streaming capabilities. The shift to remote work and online learning further fueled demand for products such as webcams, video conferencing tools, and large displays as individuals set up home offices and dedicated study spaces in their living rooms to stay connected and productive from home.
- Thus, the market has had a positive impact and is growing faster.
The smart TVs segment to maintain its leadership status throughout the forecast period
Based on product type, the smartphones and tablets segment held the highest market share in 2022, accounting for nearly one-third of the global connected living room market revenue, and is estimated to maintain its leadership status throughout the forecast period. Owing to their smooth multimedia casting and screen mirroring. However, the smart TVs segment is projected to manifest the highest CAGR of 9.98% from 2023 to 2032. This is due to the broad accessibility of high-speed internet connectivity. In addition, the introduction of 5G technology creates a big opportunity for smart TVs in the connected living room. This technology is anticipated to improve the overall performance and connectivity capabilities of smart TVs, resulting in a smoother and more immersive entertainment experience.
The video streaming segment to maintain its lead position throughout the forecast period-
Based on application, the video streaming segment held the major market share in 2022, accounting for more than one-third of the global connected living room market revenue, and is expected to maintain its lead position during the forecast period. The same segment is projected to manifest the highest CAGR of 9.26% from 2023 to 2032. The growth is attributed to the increase in adoption of Over-The-Top (OTT) services such as Netflix, Amazon Prime Video, Hulu, and Disney+ in residential and commercial spaces. These trends and growth factors present significant opportunities for connected living room providers in the video streaming segment.
The cameras segment to rule the roost by 2032
Based on component, the cameras segment held the highest market share in 2022, accounting for nearly one-third of the global connected living room market revenue, and is projected to rule the roost by 2032. Owing to the rise in demand for home security. The same segment would also display the fastest CAGR of 9.13% from 2023 to 2032. Due to greater emphasis on security. Moreover, there are future opportunities for connected living room manufacturers to develop improved computer vision and AI capabilities for cameras. These factors collectively create a strong demand for cameras in the connected living room market.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the global connected living room market revenue. The same region is expected to witness the fastest CAGR of 8.87% from 2023 to 2032. Owing to the rise in industrialization and the rising levels of disposable income that are fueling the growth of the market in this region.
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Leading Market Players:
- LG Electronics Inc.
- Roku Inc.
- Google Inc.
- Apple Inc.
- Amazon Inc
- Samsung corporation
- Honeywell
- Toshiba Corporation
- Panasonic Corporation
- Signify Holding
The report provides a detailed analysis of these key players in the global connected living room market. These players have adopted different strategies such as product launch, product development, partnership, investment, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the connected living room market analysis from 2022 to 2032 to identify the prevailing connected living room market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the connected living room market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global connected living room market trends, key players, market segments, application areas, and market growth strategies.
Connected Living Room Market Key Segments:
By Product Type:
- Smart TVs
- Gaming Consoles
- Computer and Laptop
- Smart Speakers
- Smartphones and Tablets
- Security system
- Lighting system
By Application:
- Video Streaming
- Audio Streaming
- Gaming
- Security
By Component:
- Sensors
- Thermostats
- Cameras
- Communication Device
- Others
By Region:
- North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East and Africa)
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Blockchain Press Releases
Compass Mining Scales Texas Operations with 25 MW Bitcoin Mining Facility, Plans Further Expansion
Energizes Over 50 MW in 2024 Across Six States, with 35 MW Coming Online by January 2025
WILMINGTON, Del., Dec. 20, 2024 /PRNewswire/ — Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, proudly announces the addition of a new 25 megawatts (MW) Bitcoin mining facility in Texas to its growing network of North American operations. The facility is already fully built out and will be operational with an initial 5 MW of capacity by year’s end, scaling to 25 MW in early January 2025. Compass also plans to expand the facility’s capacity to 60 MW by Q3 2025.
The new Texas facility will house a mix of relocated machines from Compass’s existing sites, as well as newly deployed units, ensuring continuity for current customers while offering new clients a seamless and turnkey Bitcoin mining experience. By January 2025, new customers purchasing machines through Compass’s platform will have the option to deploy them at the “Texas 6″ site.
“Our new Texas facility represents another milestone in our mission to make bitcoin mining more accessible for everyone,” said Paul Gosker, CEO of Compass Mining. “We bring a wealth of experience from successfully operating at multiple locations across Texas, navigating the unique grid dynamics and leveraging local resources. For this site, we will provide our support and expertise, including assisting our site partner in hiring expert technicians who meet Compass’s high standards. This ensures high uptime and reliability, delivering the quality our customers expect.”
Compass’s strategy combines vertical integration through proprietary facilities, such as the new Iowa 4 site, with partnerships at third-party facilities renowned for high uptime and reliability. This dual approach allows the company to maintain operational flexibility while delivering reliable hosting solutions. The company has energized a total of approximately 50 MW of power capacity across mining facilities in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas in 2024, with plans to add another 35 MW by January 2025.
About Compass Mining
Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.
Media Contact
BlocksBridge Consulting
[email protected]
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Blockchain Press Releases
Surprises Guaranteed: Bybit Card Dishes Out Rewards in Holiday Giveaway
DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be extending the festive fun with lavish virtual gifts for Bybit Card holders. From Dec. 20, 2024 to Jan. 31, 2025, with every swipe of their Bybit Card, users may get a chance to unwrap mystery gift boxes, including 1,000 in USDT and other exciting airdrops from DOGE to BTC—all rewards, no catches.
For each 100 USDT spent in eligible purchases with the Bybit Card, users will receive a lucky draw ticket to redeem a gift box on Bybit. Each gift box promises a crypto reward—from Christmas baubles in DOGE, SOL, ETH, XRP and BTC airdrops, all the way up to the grand prize of 1,000 in USDT. Registration is required and the special Holiday Giveaway ends at the end of Jan. 2025.
For users looking for a convenient way to utilize their crypto assets for daily spendings and debit payments, it is not too late to apply for the Bybit Card. The application and verification process takes minutes, and a virtual card will be issued as soon as the card is approved, enabling seamless digital payment on Apple and Android devices in applicable regions.
“The Bybit Card takes the hassle out of crypto off-ramp for regular users and weaves rewards and benefits into daily spendings. On top of regular cashbacks, we are introducing extra perks as our token of thanks to wrap up an eventful year in crypto,” said Joan Han, Sales and Marketing Director at Bybit.
The Bybit Card made expansive global footprints 2024 as crypto adoption continues to rise in the past year. Trusted and frictionless crypto payment solutions are in demand in various parts of the world, and Bybit is one of the natural habitats of crypto native consumers. Spanning from Buenos Aires to Amsterdam, the Bybit Card community is growing and so are the perks:
- Up to 10% cashback in USDT, BTC and ETH on eligible purchases
- Zero fees for instant virtual card issuance
- Zero annual or hidden fees
- Up to 8% APY
Enjoy this festive season in all its splendor. Eligible Bybit Card holders from all regions are welcome; terms and conditions apply: Bybit Card Holiday Giveaway: Swipe, Spend & Sparkle!
#Bybit / #TheCryptoArk #theBybitCard
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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Blockchain Press Releases
Bybit P2P Unlocks 20,000 USDT Prize Pools for Select Users in South Asia and Africa
DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be concluding 2024 with lucky spins all around for eligible users on Bybit P2P. With a chance at two grand bonus pools of 10,000 USDT each, select users in parts of South Asia and Africa stand to make the most of their P2P trades at Bybit.
From now to Dec. 31, 2024, eligible users may create their own P2P trading bonus at Bybit and unlock 100% chance of winning:
- South Asia: Eligible users in South Asia may sign up for the Grand Spin Extravaganza
- Africa: Eligible users may register to enter the P2P Prize Spinner
Successful participants may complete one or more referral, deposit, or trading tasks to earn up to 10 Lucky Draw Tickets. Tasks start at beginner level including a first-time deposit of 10 USDT. With a Ticket, users get to spin the wheel of fortune for a guaranteed airdrop from the 10,000 USDT Prize Pool.
As communities in the Global South start to build and diversify their wealth, millions are in dire need of modernized and inclusive financial infrastructures. The digital asset class offers an alternative for grassroot investors in emerging markets, demonstrating transformative power to shape the future of growth.
Bybit’s peer-to-peer trading platform provides user-friendly and trusted tools for P2P merchants and buyers. Users can compare and execute trades at an optimal price agreed upon by both parties, carried out on Bybit’s ultra smooth trading platform at zero fees. Supporting over 60 fiat currencies and over 300 payment methods, Bybit P2P contributes to democratizing access to the digital economy.
Users who have completed Bybit Identity Verification Level 1 may log in to confirm their eligibility. Terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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