LONDON--(BUSINESS WIRE)--The global digital photo frame market is expected to register a revenue of over USD 712 million by 2022, according to the latest market research report by Technavio. A key factor driving the growth of the market is innovation and portfolio extension leading to premiumization. Frames with innovative features and functionality are priced higher than regular photo frames. Besides, digital photo frames with integrated modern technologies are also in high demand. Thus, vendors strategize to differentiate themselves by manufacturing digital photo frames with add-on features and designs. This portfolio extension also gives rise to product premiumization.
This market research report on the global digital photo frame market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio predicts a trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increase in adoption of home automation and other smart devices as one of the key emerging trends driving the global digital photo frame market:
Global digital photo frame market: Adoption of home automation and other smart devices
Smart homes use many connected products and make life easier and comfortable. They utilize Internet and digitization in key categories such as energy management, home appliances, security and control systems, and other assisted-living appliances and equipment. Besides, over 15% homes in North America and Europe are estimated to be smart by 2020, with most household and security activities being controlled, monitored, and executed digitally with the use of the Internet.
“The demand for home automation and adoption of smart connected devices is increasing around the world. North America and Western Europe are known to be the most technologically-advanced regions in the world and early adopters of modern technologies across sectors. Smart home technology is expected to witness exponential growth and adoption during the forecast period,” says a senior analyst at Technavio for research on retail goods and services.
Global digital photo frame market: Americas leads the market
This market research report segments the global digital photo frame market by power source (electric-powered digital photo frame and battery-powered digital photo frame) and key regions (the Americas, APAC, and EMEA).
The Americas was the leading region for the global digital photo frame market in 2017, contributing to a market share of around 45%. It was followed by EMEA and APAC respectively, in terms of market share. The Americas will dominate the global market through 2022.
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