Remote Control Holder Market Poised for Steady Growth in the Future 2018-2028
Fact.MR has announced the addition of the “Remote Control Holder Market”: Global Industry Analysis and Opportunity Assessment “2018 to 2028" report to their offering.
[UKPRwire, Thu Jan 03 2019] It was back in 1950 that the first ever remote for controlling a television was introduced. Technological advancements further led to the introduction of wireless remote controllers. With further technological progressions and introduction of various other consumer electronic devices, an increase in the adoption of multiple types of remote controllers was witnessed. Of late, a demand for holding these remotes and eliminating issues, such as misplacement of remotes, has been witnessed, which has led to the invention of remote control holders.
Basic electronic devices controlled using a wireless remote include televisions, DVD/CD players, air conditioners, stereo/audio players, etc. Hence, the increasing adoption of these devices is resulting in increasing demand for remote control holders.
The Remote Control Holder market has witnessed significant traction in the past four years and, is furthermore, expected to witness a considerable growth rate during the forecast period.
Remote Control Holder Market: Market Dynamics
The primary application of a remote control holder lies across the residential sector owing to the demand for storing/holding remotes to avoid issues, such as misplacement of various types of remotes, time delays in finding remotes, etc. This demand is being further complimented by increasing installation of consumer electronic devices, such as televisions, DVD players, stereo players, air conditioners etc. Thus, growing economies of developing countries in conjunction with the increasing adoption of consumer electronic devices controlled via a remote is contributing significantly to the growth of remote control holders market, especially in terms of revenue. In addition to this, increasing adoption of and demand for wireless technologies, especially in developing countries lacking in terms of penetration of advanced technologies, will act as a major driver for both remote controlled electronic devices market and remote control holders market.
Transition towards smart cities and increasing accessibility offered by smartphones (for controlling smart devices remotely) is the recent trend being witnessed in the market.
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However, introduction of smart devices has allowed users to access everything with a smartphone. Increasing adoption of smart devices and smart phones, thus, is posing a challenge to the adoption of remote controllers, which as a result, is restraining the global remote control holders market. In addition to this, introduction of remote controls that allow users to control multiple electronic devices has further reduced the need of for multiple remotes and thus, remote control holders. This factor is also expected to hamper the growth of the remote control holders market.
Remote Control Holder Market: Segmentation
The global remote control holder market can be segmented on the basis of material type, sales channel, end-user and region.
Segmentation for Remote Control Holder market by material type:
On the basis of material type, the remote control holder market can be segmented as:
Polymer (PU coated for instance)
Maximum adoption of plastic remote control holders was witnessed in 2017 owing to the economic cost associated with these remote control holders and high volume manufacturing of the same in the global remote control holder market.
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Segmentation for Remote Control Holder market by sales channel:
On the basis of sales channel, the remote control holder market can be segmented as:
The latter segment held a larger share in the market in 2017. However, owing to the increasing penetration of internet, the e-Commerce/online sales channel segment is expected to witness higher growth rate during the forecast period.
Segmentation for Remote Control Holder market by end-user:
On the basis of end-user, the remote control holder market can be segmented as:
In terms of value, in 2017, residential segment held the majority of remote control holder market share. The same segment is also expected to dominate the market throughout the forecast period.
Remote Control Holder Market: Key Players
Vendors offering remote control holders are basically regional players present in the unorganized market. Some of the vendors present in the remote control holder market are Vmore, Teniux, Meliconi Italia, Winomo and others.
Remote Control Holder Market: Regional Overview
By geography, the Remote Control Holder market can be segmented across North America, Latin America, Western Europe, Eastern Europe, China, Japan, SEA and others in Asia Pacific, and Middle East & Africa. Among these regions, Asia Pacific (including China and Japan) is expected to dominate the global remote control holder market during the forecast period owing to high adoption of remote controlled consumer electronic devices (due to high population density of the region) in the region.
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North America and Europe are expected to follow Asia Pacific (including China and Japan) in the global remote control holder market. China is, however, expected to exhibit highest growth rate during the forecast period owing to the presence of various remote control holder providers in the unorganized market. Latin America and MEA are also expected to witness significantly high growth rates during the forecast period.