Households in the U.S. are increasingly looking to the remote control as their link to easing the complexity of control and search among the growing number of disparate consumer electronic systems in their homes, according to a new market study.
A new report from Parks Associates confirms and expands upon the trends identified in the 2006 first edition. These include the increasing desire and willingness of U.S. households to replace current remote controls with one that is more capable and can enhance their experiences with new entertainment systems.
"The market size in revenues for aftermarket remotes promises a CAGR (compound annual growth rate) of about 10 percent between now and 2013," said Tricia Parks, CEO, Parks Associates. "That rate increases to 14 percent for mid-level remotes, which cost between $30 and $250."
The report provides purchase process details for aftermarket remotes, brand shares among U.S. Internet households, unit numbers and revenues for high-end remotes sold by dealers installing entertainment systems, and forecasts by product segment from 2007-2012.
In addition, the report offers a segmentation of URC owners and recent buyers along with their ratings about key features important to their ultimate buying decisions.
"Increasing options for content, the heavy buying of expensive flat TVs, and rational prices for the mid-level remote have all played to increase consumer willingness to purchase and desire for the more capable control benefits," Parks said.
The report also details continuing inhibitors and explores a few key strategies to increase consumer awareness and the willingness of TV manufacturers to offer different levels of remotes at the point of purchase. Clearly, consumers still crave a truly usable remote control device.
