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
Bybit Defies Odds: How the Largest Crypto Hack in History Became a Test of Resilience and Transparency
DUBAI, UAE, Feb. 23, 2025 /PRNewswire/ — In a remarkable display of resilience and professionalism, Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has successfully navigated the largest hack in crypto history. On February 21, 2025, hackers stole approximately $1.5 billion in digital assets from Bybit’s Ethereum wallet, marking the biggest cryptocurrency heist ever recorded. Despite this unprecedented breach, Bybit’s swift and transparent crisis management ensured that the crypto market remained stable, with no significant price volatility.
Swift Crisis Management
Bybit’s response to the hack was marked by swift action, transparency, and professionalism. Ben took immediate ownership of the situation, addressing the community within 30 minutes via X and conducting a livestream session just one hour after the incident. This live session, which lasted over two hours, provided real-time updates and detailed explanations, ensuring that all stakeholders were informed and reassured. Bybit’s prompt and open communication effectively prevented panic and maintained trust in the exchange, setting a high standard for crisis management in the crypto industry
Throughout the crisis, Bybit’s withdrawal and product services remained uninterrupted, with clients able to access support and their respective relationship managers at all times. This seamless continuity was a testament to the team’s preparedness and efficiency, even under extreme pressure.
Industry Unity in Support of Bybit
The crypto industry rallied around Bybit, demonstrating a united front against security threats. Major exchanges blacklisted the hacker’s wallets, preventing further movement of stolen funds. This unprecedented show of unity underscores the growing maturity of the crypto sector, where competitors become allies in times of need.
Client Fund Protection
Despite the significant scale of the hack, Bybit’s 1:1 reserve guarantee ensured that client assets remained fully intact. Bybit CEO Ben Zhou reassured users that Bybit is solvent and can cover the loss, emphasizing that all client assets are backed on a one-to-one basis. This guarantee demonstrates Bybit’s financial stability and commitment to user security.
Regulatory and Law Enforcement Collaboration
Bybit worked closely with regulators and law enforcement agencies to address the hack. This collaboration not only facilitated a swift response but also set a precedent for future cooperation between the crypto industry and regulatory bodies. As the incident unfolds, further developments are expected from this front, potentially leading to enhanced security measures and regulatory frameworks.
Rapid Recovery
Bybit demonstrated remarkable resilience in the face of the crisis, processing over 350,000 withdrawal requests efficiently within 12 hours of the hack. Despite the surge in withdrawal requests, the exchange ensured that all transactions were completed without significant delays, showcasing the team’s professionalism and experience in managing critical incidents. Bybit’s operations quickly returned to normal, with client activity rebounding to pre-hack levels within 24 hours. This swift recovery underscores the trust that clients and investors have in Bybit’s crisis management capabilities, highlighting the exchange’s ability to maintain stability even in the most challenging circumstances
Bybit’s handling of the recent hack sets a new industry standard for crisis management. The exchange’s ability to turn a potentially disastrous event into a demonstration of resilience and transparency is a testament to its long-standing culture of responsibility and openness. This incident highlights not just Bybit’s operational excellence but also the growing maturity and unity of the crypto industry as a whole.
#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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SINGAPORE, Feb. 23, 2025 /PRNewswire/ — In the wake of the recent $1.5 billion hack affecting a major cryptocurrency exchange, HTX hosted a live discussion on X and its Global Advisor Justin Sun addressed the growing security concerns in the cryptocurrency industry. The discussion, titled “Together Against Industry Crisis, Is There a Best Solution for the Security of the Crypto Industry?” featured insights from leading security firms SlowMist and GoPlus Security, as well as prominent KOLs.
Security: A Top Priority for HTX
Sun stressed that security is a “top priority”, demanding constant vigilance and learning. He illustrated how hacker tactics have evolved, from early hot wallet attacks to more sophisticated multi-signature wallet breaches, and declared that exchanges must continuously enhance their security protocol.
Sun emphasized that security is like personal health management, requiring internal efforts and a proactive approach. HTX has implemented multi-device login, remote login alerts, abnormal transfer alerts, and other security features, and has publicly disclosed Merkle Tree Proof of Reserve (PoR) for 28 consecutive months, maintaining reserve ratios exceeding 100%.
Sun’s Influence on Security Practices Across the Crypto Landscape
Sun’s commitment to security extends to his vision for HTX and his influential role in shaping security practices across the broader crypto landscape. He believes that the principle of security is considered fundamental to every business and product. He cited the early implementation of native multi-signature functionality in TRON as a successful example of proactive security design, demonstrating his commitment to building security into the foundation of his projects. He also highlighted the recent launch of USDD 2.0, emphasizing the deep understanding of stablecoin security risks that informed its development. “Just as exchanges should strengthen security mechanisms from the source in system design and operation, to maximize the prevention of security incidents,” Sun stated.
Sun also revealed that HTX collaborates with numerous white hat teams to conduct continuous penetration testing, security drills, and vulnerability mining. The platform actively monitors global cryptocurrency security incidents and studies hacker attack principles and methods for effective prevention.
Addressing the Situation and Industry Cooperation
Regarding the controversy surrounding CZ’s suggestion for the affected exchange to suspend withdrawals, Sun acknowledged the validity of the advice from an exchange perspective. He explained that the initial hours after a security breach are crucial for investigating the issue and ensuring safety. While suspending withdrawals is necessary to eliminate risks, the suspension period should be minimized to reduce user impact.
Sun called for closer cooperation between exchanges, security agencies, and the community to jointly address hacker threats, promote technological sharing, security innovation, and information exchange, and promote the healthy and sustainable development of the industry.
HTX’s Commitment to User Safety
HTX demonstrates its commitment to security through a proactive and continuously improving approach. The platform’s multi-faceted security strategy encompasses collaboration with leading security experts, rigorous ongoing monitoring, robust internal protocols, and a focus on enhancing multi-signature support, security alerts, and mitigating emerging threats such as hashtag scams. This comprehensive strategy reflects HTX’s dedication to safeguarding user assets and fostering a secure and reliable trading environment. This commitment was further emphasized by the specific security protocol requirements shared by Justin Sun at the February 21st Meetup in Hong Kong.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, we harbor global capabilities that enable us to provide users with safe and reliable services. Our growth strategy – “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, underpins our commitment to providing quality services and values to virtual asset enthusiasts worldwide.
For more information on HTX, please visit the HTX Square, or https://www.htx.com/, and follow X, Telegram, Discord. For further press enquiries, please contact [email protected].
Contact Details
Ruder Finn Asia
[email protected]
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Blockchain Press Releases
Bybit Expresses Deep Gratitude as Crypto Industry Unites Against Security Threats
DUBAI, UAE, Feb. 22, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, extends its heartfelt thanks to the global crypto community for the overwhelming support received in the wake of a recent security incident. This unprecedented show of solidarity has not only reinforced Bybit’s resilience but has also laid the foundation for stronger industry-wide measures to counter and prevent future hacking incidents. From institutional liquidity providers to leading blockchain security firms, the swift and coordinated response has exemplified the strength of the Web3 community.
A United Front Against Threats
As soon as the incident was detected, Bybit’s security team took immediate action—locking down systems, securing funds, and collaborating with top cybersecurity experts. The exchange received overwhelming support from key players across the industry, all working together to track, contain, and mitigate the impact of the exploit.
Ben Zhou, Co-Founder and CEO of Bybit, expressed his gratitude:
“It’s been a challenging period for Bybit, but one thing is clear—our partners have our backs. The support from Antalpha Global, Bitget, Pionex, MEXC, SoSoValue, Galaxy Digital, FalconX, Lido Finance, Solana Foundation, Ton Foundation, Ghaf Capital, Fenbushi, Bitvavocom, Tether and many others has been nothing short of incredible. Your trust, quick action, and solidarity mean everything. We’re moving forward, stronger and more determined than ever. Thank you for standing with us.”
Industry Leaders Take Immediate Action
Several major players in both DeFi and CeFi swiftly mobilized to prevent further movement of stolen funds and uphold market stability:
- Orbiter, deBridge, SynFutures, MYX, Thruster and Owlto blacklisted exploit-related addresses, preventing unauthorized transfers.
- Chainalysis rapidly tracked and published the exploiter’s wallet addresses, enabling a coordinated industry-wide response.
- SIS cross-chain bridge stepped up to block associated addresses, restricting the attacker’s ability to launder assets.
- Zero Shadows activated its 24/7/365 Global Response team, collaborating closely on Bad Actor Tracing and Identification, Funds Tracing, and Law Enforcement Communications to support the investigation and recovery efforts.
- Institutional clients, including TMSI, Bayside trading, Mathrix, Wintermute, Cumberland, GSR Markets, maintained their trading positions, reinforcing stability amid uncertainty.
“Their trust in us, despite the circumstances, speaks volumes about the maturity and resilience of this industry,” Ben added. “It shows a defining moment that proves crypto’s strongest players stand together when it matters most.”
A Community That Stands Together
Bybit also acknowledged the unwavering support from its VIP clients, traders, and broader user base. Messages of encouragement and patience from the community have been instrumental as the exchange works around the clock to enhance security measures and safeguard funds.
“While this has been a difficult moment, it is also a powerful reminder of why we are here—to build an open, resilient, and decentralized financial future,” Ben said. “The real work has just started, and with this level of unity in this space, we know we’ll come back even stronger.”
Bybit remains committed to transparency and will continue to provide updates as it implements additional security enhancements. The exchange is working closely with industry leaders to set new standards for crisis management, ensuring the safety and trust of its users while strengthening the broader industry’s defenses against future threats.
#Bybit / #TheCryptoArk
//ENDS
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 updates, please follow: Bybit’s Communities and Social Media
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