Standalone Products Face Biggest Threat In Consumer Electronics: Study

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A new study has found that as the global demand for consumer connected devices grows, products like cameras, portable game systems and camcorders are at most risk of being swallowed up by converged and connected devices.

Reportlinkers’ latest findings on the consumer connected device market says global shipments are set to rise from 262.1 million units in 2010 to 712.1 million units in 2015. This represents a compound annual growth rate of 22.1%, leading to the global installed base of consumer connected devices reaching 2.1 billion units by 2015.

It says the market for connected devices is enjoying huge growth as a result of strong demand from end-customers. Consumers seeking on-demand access to content and services are moving beyond traditional computing tools in order to reap the benefits of a “connected lifestyle.”

With the overall shift toward connected lifestyles becoming more pronounced, growth in the consumer connected device market will significantly outpace other, more traditional computing segments, the study finds.

The research firm has found that business models in the connected device space are evolving quickly with early movers creating new customer-oriented value-creating strategies to benefit from the boom.

It says stand-alone products with functions that can be easily incorporated into converged, multi-function devices, such as tablets and smartphones, face the most risk and uncertainty, with the most threatened products being cameras, portable game systems, and certain camcorders whose features are rapidly being matched by converged systems.

 

Power efficiency, functionality, ease-of-use, and many other factors have now emerged as key elements driving the adoption of connected devices, which has resulted in a new group of industry players in the market.

These include OEMs who bundle connected products with access to unique value-adding content, services, and ecosystems, and are thus able to enjoy the largest returns on investments.

Additionally, connected devices are now offering OEMs increased customer and product knowledge, which if used correctly, affords companies an opportunity to “lock” customers into their product and service ecosystems, says the company.

Reportlinker says these changes due to the popularity of internet connectivity, which has now evolved to be included in virtually all consumer electronics products.
 
Technology component suppliers (memory manufacturers, chip providers, etc) are also now forming relationships with device manufacturers and benefitting from the resulting industry growth while content/service/application providers are devising strategies and building ecosystems to spread their systems across multiple product categories.

New opportunities are also arising for telecommunications companies who are devising new business models as they seek to connect multiple device categories to mobile networks.

You can find out more information at : http://www.reportlinker.com/p0453848/Global-Consumer-Connected-Device-Market-Forecast-Report.html#ixzz1GcMDcRTE

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