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Smart TV Market

Published Date : Jun 2024 | Forecast Year : 2019

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Smart TV Market Size, By Resolution (4K UHD TV, HDTV, Full HD TV, and 8K TV), By Operating System (Android TV, Tizen, WebOS, Roku, and Other), By Screen Size (Light, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches), By Screen Size (Flat and Curved) Trends Regional Outlook, and Forecast 2024-2032

Report ID: AG863

Published : Jun 2024

Pages : 126

Category : Consumer Goods

Format : Smart TV Market

REPORT ATTRIBUTEDETAILS
MARKET SIZE (2032)USD 253.25 Billion
MARKET SIZE (2024)USD 180.5 Billion
CAGR (2023-2029)5.4%
HISTORIC YEAR2019
BASE YEAR2023
FORECAST YEAR2032
BY TYPE4K UHD TV
HDTV
Full HD TV
and 8K TV
BY APPLICATIONAndroid TV
Tizen
WebOS
Roku
and Other
GEOGRAPHIC ANALYSISNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
KEY PLAYERSLG Electronics Inc., Samsung Electronics Co. Ltd., Sony Corporation, VIZIO Inc., Videocon Industries Ltd., Sansui Electric Co. Ltd., Toshiba Corporation, Haier Electronics Group Co., Ltd..

The Global Smart TV Market size was estimated to be valued at USD 180.5 Billion in 2023 and is expected to reach at USD 253.25 Billion by 2032, exhibiting at a CAGR of 5.4 % during the forecast period. This report provides a deep insight into the Smart Tv Market covering all its essential aspects. This ranges from a macro-overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. 

Market Segmentation Analysis:

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Smart TV Market

Size, by Product, - (USD Billion)

4K UHD TV

HDTV

Full HD TV

8K TV

Other Products

18 16 14 12 10 8 6 4 2 0

The Market will Grow

At the CAGR of:

5.4%

The Forecast Market

Size for in USD:

$253.25 Billion B

b0d51e3055fd6f23ff6a384a6e091406.svg

Key Profiles:

LG Electronics Inc., Samsung Electronics Co. Ltd., Sony Corporation, VIZIO Inc., Videocon Industries Ltd., Sansui Electric Co. Ltd., Toshiba Corporation, Haier Electronics Group Co., Ltd., 

Smart TV Market Segments:

By Resolution: 4K UHD TV, HDTV, Full HD TV, and 8K TV 

By Operating System: Android TV, Tizen, WebOS, Roku, and Other 

By Screen Size: Light, below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, above 65 inches 

By Screen Size: Flat and Curved 

Regional Analysis

  • North America: Large economies like the United States and Canada are covered in this region.
  • Europe: The European market includes countries such as Germany, UK, France, Italy, Russia, and others.
  • Asia-Pacific: This region includes major economies like China, Japan, India, South Korea, Australia, and others.
  • Latin America: Countries like Brazil, Argentina, Mexico and others are part of this region.
  • Middle East and Africa: This region comprises economies from North Africa, GCC countries, South Africa and others.
  • Eastern Europe: This region includes countries such as Poland, Russia, Ukraine and others.

These geographic markets are analysed in terms of the current scenario, growth outlook, and potential opportunities. The research is conducted by considering various aspects such as economic conditions, government policies, industrial development, competitive landscape, and consumer behaviour in these regions.

Smart TV Market

Share, by end user, (USD Billion)

Analytica Global 180.5 Billion %

Android TV

Tizen

WebOS

Roku

Other End-Users

b0d51e3055fd6f23ff6a384a6e091406.svg

253.25 Billion

Total Market Size

USD (Billion),

5.4%

CAGR

-

Market Overview:

  • The smart TV market continues to grow rapidly due to technological advances and changing consumer preferences. These TVs have internet connectivity and interactive features that revolutionize home entertainment. Major players such as Samsung, LG, Sony, TCL and others compete fiercely, offering different models at different prices and with different functions.
  • Technological advances such as 4K resolution, HDR and OLED screens improve the viewing experience and appeal to consumers looking for premium picture quality. Smart TVs also have robust application ecosystems that allow access to streaming services such as Netflix, Disney+ and Amazon Prime Video directly through the TV's user interface. Voice control with integrated assistants such as Google Assistant or Amazon Alexa has become commonplace, which increases user comfort.
  • In addition, smart TVs are increasingly serving as hubs for smart home integration, allowing users to control compatible devices such as lights and thermostats. This convergence of entertainment and connectivity underscores the growing importance of smart TVs in today's homes. 

Key Development for Smart TV Market:

Samsung:

  • Development: Samsung has been a leader in the smart TV market, consistently innovating with new technologies and features.
  • Key Advances: They introduced QLED technology, enhancing picture quality, and integrated robust smart features like the Tizen operating system for seamless connectivity and app integration.

LG:

  • Development: LG has been known for its OLED technology, offering superior contrast and color reproduction in smart TVs.
  • Key Advances: They focused on webOS as their smart TV platform, improving user interface and app availability.

Sony:

  • Development: Sony has maintained a strong presence with high-end smart TVs known for their image processing technologies and premium build quality.
  • Key Advances: They integrated Android TV as their operating system, providing access to a wide range of apps and Google Assistant for voice control.

TCL:

  • Development: TCL has gained market share with competitive pricing and a range of smart TV models across various price points.
  • Key Advances: They've focused on affordability without compromising on features, leveraging Roku TV as their smart platform in many markets.

Hisense:

  • Development: Hisense has expanded its presence globally with smart TVs that emphasize value for money and innovative features.
  • Key Advances: They've introduced ULED technology and have been enhancing their proprietary VIDAA operating system for smart functionalities. 

    Smart TV Market

    Size, by Product, - (USD Billion)

    APAC $ 24

    The Market will Grow

    At the CAGR of:

    5.4%

    The Forecast Market

    Size for in USD:

    $253.25 Billion B

    b0d51e3055fd6f23ff6a384a6e091406.svg

Market Drivers:

  • Integrating internet connectivity directly into televisions enables seamless access to a wide range of streaming services such as Netflix, Hulu, Disney+ and YouTube. Consumers increasingly prefer on-demand content to traditional broadcast.
  • Advances in display technology, including 4K and 8K resolution, high dynamic range (HDR) and OLED/QLED panels, improve image quality and viewing. These technologies will appeal to consumers looking for superior visual performance.
  • Smart TVs offer intuitive user interfaces, application ecosystems and voice control capabilities (via assistants like Google Assistant and Amazon Alexa). This makes navigation easier and increases user comfort.
  • Many smart TVs act as hubs for smart home devices, allowing users to control lighting, thermostats, security cameras and other IoT devices from the TV screen. This combination of entertainment and home automation brings added value and convenience.
  • Smart TVs offer personalized content recommendations based on viewing habits and preferences. This customization increases user satisfaction and promotes long-term interaction with the device.
  • As consumers increasingly opt for digital streaming and on-demand content, traditional TV viewing has declined. Smart TVs are responding to this change by offering flexible viewing options and a wider range of content choices. 

Restraints Factors:

  • Smart TVs with advanced features like OLED/QLED display, 4K/8K resolution and HDR can be expensive. This price barrier limits adoption among budget-conscious consumers.
  • Some smart TVs have complex user interfaces or unintuitive navigation that can frustrate users. A poor user experience can deter potential buyers from investing in smart TV technology.
  • Smart TVs connected to the Internet raise privacy and data security concerns. Vulnerabilities in smart TV software can expose users to hacking or unauthorized data collection, causing reluctance among privacy-conscious consumers.
  • Smart TVs are highly dependent on a stable Internet connection to stream content and access online services. Poor internet infrastructure or interruptions in service can degrade user experience and limit functionality.
  • The speed of technological development of smart TVs can cause rapid obsolescence. Consumers may be hesitant to invest in expensive smart TVs when newer models with advanced features are expected soon after. 

Continued Growth in Usage of Broadcasting Devices:

  • Continued growth will increase the number of people using streaming devices in the industry, as well as the percentage of people connected to the Internet. 
  • In addition, the change in customer preferences that has occurred over the last few years has drastically affected the development of turnover. 
  • The increased demand for smart TVs has created lucrative opportunities for content producers to enter the Over the Top (OTT) arena, which allows original content to be distributed over the Internet. 
  • These capabilities have made it possible to increase the demand for smart TVs. In addition, several industry players are collaborating with streaming media producers to expand their product offerings and increase their visibility. All these factors will soon contribute to the expansion of the market. 

    Smart TV Market TO (USD BN)

    Smart TV Market

    CAGR OF

    5.4%

    Smart TV Market

    b0d51e3055fd6f23ff6a384a6e091406.svg
    Analytica Global 253.25 Billion %

Growing desire for personalized entertainment:

  • Growing desire for personalized entertainment is accelerating the growth of the smart TV (TV) market. People no longer flock to movie theaters or change channels on satellite TV. 
  • Smart TVs allow customers to subscribe to streaming services of their choice, such as Netflix and Amazon Prime, through an Internet connection. 
  • Additionally, critical factors such as increasing disposable income and urbanization are driving the Smart TV (TV) market. The Smart Television (TV) market is expected to grow significantly during the forecast period due to the increasing use of advanced technology. 
  • Other key factors such as the entry of mobile phone manufacturers such as Xiaomi, OnePlus and Micromax and the introduction of 4K resolution televisions are slowing down the growth rate of the Smart TV (television) industry.

Frequently Asked Questions (FAQs)

How big is the Smart TV Market?

Ans: The Smart Tv Market size valued at USD 25.25 billion in and grow at a CAGR of 5.4 % 

What is the current Smart Tv Market size?

ANS: The Smart Tv Market size is expected to be USD 180.5 Billion.

Who are the key players in Smart TV Market

Ans: LG Electronics Inc., Samsung Electronics Co. Ltd., Sony Corporation, VIZIO Inc., Videocon Industries Ltd., Sansui Electric Co. Ltd., Toshiba Corporation, Haier Electronics Group Co., Ltd., 

Which is the fastest growing region in Smart TV Market?

Ans: Asia pacific is estimated to grow at the highest CAGR over the forecast.

Smart TV Market - Global Outlook & Forecast 2024-2029

Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global

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