Global Remotes Market 2017-2021
Remotes or remote controls are devices that are used to wirelessly operate electronic gadgets such as TVs (including smart TVs), STBs, and gaming consoles from a short line-of-sight distance. Remote controls are small wireless handheld devices that enable users to adjust different settings such as tracking number and volume. The two popular types of remote controls that are mostly used by customers are IR and RF remotes.
Technavio’s analysts forecast the global remotes market to grow at a CAGR of 1.08% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global remotes market for 2017-2021. To calculate the market size, the report considers the sales (OEM and aftermarket) of remotes (standard and motion-controlled) worldwide for TVs, set-top boxes (STBs), and gaming consoles.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Remotes Market 2017-2021
Technavio recognizes the following companies as the key players in the global remotes market: Logitech, Philips, Remote Solutions, and Universal Electronics.
Other Prominent Vendors in the market are: BesCon Electronics, Crestron Electronics, Ruwido, SMK Electronics, and Universal Remote Control.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is introduction of next-generation motion-sensing remotes. IR remotes dominated the market for most consumer electronic devices such as gaming consoles, smart TVs, and STBs. Market vendors are adopting different technologies in their remote controls to enable users to access a wide variety of digital content in a simpler and efficient way. Some of the major technologies that have emerged for remote controls include RF, ZigBee RF4CE, Bluetooth, and Wi-Fi.”
According to the report, one of the major drivers for this market is increase in the sales of smart TVs. Smart TVs are becoming very popular among consumers because of their enhanced functionality. Since the introduction of the first smart TV by Sony jointly with Google in 2010, Internet TVs have gained a sizable market.
Further, the report states that one of the major factors hindering the growth of this market is availability of counterfeit remotes. Counterfeit remotes are one of the potential threats to the aftermarket remote sales since they are cheaper than the branded remotes and have similar functionality as the original remotes. Counterfeit remotes also have a strong sales and distribution network, which greatly affects the aftermarket sales of branded remotes. This, in turn, increases the risk of the vendors who are highly dependent on the aftermarket sales. In addition, it becomes difficult for vendors to compete with counterfeit brands in the market because of the vast difference in the product pricing.
Logitech, Philips, Remote Solutions, Universal Electronics, BesCon Electronics, Crestron Electronics, Ruwido, SMK Electronics, and Universal Remote Control.