LONDON--(BUSINESS WIRE)--The global digital photo frame market is expected to post a CAGR of more than 1% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Improvements in living standards and rising disposable incomes have increased the adoption of high-end-smart connected devices across the world. Technologically advanced regions such as the US and Western Europe are observing a significant rise in the adoption of smart home technologies. According to estimates, more than 70 million homes in North America and Europe are expected to become smart by 2020. With the growing number of smart homes, the demand for smart décor products such as digital photo frames is bound to increase during the forecast period.
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As per Technavio, the introduction of smart digital photo frames will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Digital Photo Frame Market: Introduction of Smart Digital Photo Frames
Vendors in the market are incorporating technologies such as Wi-Fi, NFC, and IoT to enable users to connect and control digital photo frames through their smartphones. Some vendors are introducing smart digital photo frames that can be connected with Amazon Echo voice-controlled devices to operate through voice commands. The introduction of many such smart digital photo frames is expected to boost the growth of the market during the forecast period.
“Increased adoption of multi-functional and advanced products and the rising adoption of smart household appliances are other factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Digital Photo Frame Market: Segmentation Analysis
This market report segments the global digital photo frame market by distribution channel (offline and online), power source (electricity powered and battery-powered), and geography (APAC, Europe, MEA, North America, and South America)
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the market. This is due to the growing demand for aesthetically appealing, good-quality home décor products among consumers in the US. However, the APAC region is expected to witness the maximum incremental growth during the forecast period due to the rising disposable incomes of people in the region and the associated increase in their spending power.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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