Global Smart TV Market Overview:
A smart TV is a television that includes an internal processor, onboard storage, and internet connectivity. TV uses the Ethernet or wife connection, or some TVs have both. Smart TV is much like smartphones; they can stream entertainment straight to your TV via the internet. There are a wide variety of advantages, such as the fact that smart TVs have access to a wide range of streaming services, have their own app ecosystem, have multifunction devices, etc. Ongoing advancements in display technology, processing power, and connectivity contribute to the appeal of smart TVs.
As per latest study released by AMA Research, the Global Smart TV market is expected to see growth rate of 18.7% and may see market size of USD640.0 Billion by 2028.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increased shipments of smart TVs in the screen size range of 55” and above
Market Growth Drivers:
Increasing consumer demand, Increasing popularity of streaming services. and The ease of purchasing smart TVs online through E- commerce platform.
Challenges:
Network issue such as, slow speed or interruptions and Limitation in apps support can impact the users experience and satisfaction
Restraints:
Lack of standardization in remote control such as, design, functionality and High-cost price of smart TV
Opportunities:
Improving advancement in display technology such as OLED and MicroLED
Competitive Landscape:
Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisition and mergers along with collaboration with companies in other industries to help them in improving sustenance and maintaining their competitive advantages.
Some of the key players profiled in the report are Samsung (South Korea), Apple Inc (United States), LG electronics (South Korea), Sony corporation (Japan), Panasonic life solution India pvt Ltd (Japan), Vizio Inc (United States), Skyworth (China) and Toshiba India private Limited (Japan). Additionally, following companies can also be profiled that are part of our coverage like Haier Inc (China), Hisense (China), TCL (China), Roku Inc (United States), Xiaomi (China) and OnePlus (China). Considering Market by Resolution , the sub-segment i.e. 720 P will boost the Smart TV market. Considering Market by Screen Size, the sub-segment i.e. 19- 32 Inches will boost the Smart TV market. Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Smart TV market. Considering Market by Operating System , the sub-segment i.e. Tizen will boost the Smart TV market. Considering Market by Screen Type, the sub-segment i.e. LED will boost the Smart TV market.
Latest Market Insights:
In July 2022, comcast has acquire Vizio. This acquisition could be a major move for the cable giant, giving them control over a smart TV platform and potentially helping them compete with streaming services.
In March 2023, Xiaomi India has launched the latest addition to their TV portfolio with the Redmi smart fire TV. With the aim to reinvent the smart TV viewing experience of consumers. The newly launched smart TV features Amazon's Fire OS 7, which lets consumers enjoy a world of entertainment with over 12,000 apps from the Fire TV app store including Prime Video, Netflix, Disney+ Hotstar, Zee5, Sony Liv, YouTube and more., and In May 2023 - Ilya Pozin, co-founder of the free streaming service Pluto TV, has launched a new company called Telly. Telly is developing a new type of television that will be completely free to watch, thanks to advertising. Telly is transforming the biggest screen in the home into the world's first truly Smart TV,
What Can be Explored with the Smart TV Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Smart TV Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Smart TV
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Smart TV market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Smart TV market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Supplier, Manufacturer, Research organization, Venture Capitalists and End -user Industrie.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.