Smart TV Market Overviews
Smart TV Market was volume at 476.54 Million Units in 2023. Global Smart TV Market size is estimated to grow at a CAGR of 21 % over the forecast period.
A smart TV is a television that can be connected to the Internet and utilized as a stand-alone device. Although smart TVs are now sold as a separate product, any conventional TV with a set-top box can be transformed into a smart TV. By connecting to the internet, over-the-top video provided by online streaming services can be streamed easily on smart TVs. Customers prefer this service because it offers on-demand streaming material that can be seen on a widescreen instead of being limited to our computers or mobile phones. Smart TV market report's segment analysis is provided, based on the resolution, sceen size, sceen type and region.
Smart TV Market Scope and Methodology:
The use of Android as an operating system by various smart TV providers has made it easy for users to access major OTT platforms such as Netflix, Hulu, and YouTube. Additionally, the Google platform also provides access to major Android-based applications, such as Facebook, Twitter, and Google Play. Moreover, Android TVs support voice commands, which the user can access with the help of magic remotes. For instance, the Sony One-Flick remote has an inbuilt mic that allows the user to search for their favorite channels and shows via voice commands. Along with the applications, Android also offers in-built games, music, and movies.
Smart TV Market Regional Insights
In 2020, the Asia Pacific dominated the smart TV market with a 39 % share. Smart television use is increasing in fast emerging economies, such as India, which is helping to drive regional market growth. Moreover, rising demand for 4K display technology, driven by customer preferences for greater picture quality and elegant design, is expected to boost revenue creation in the region. China controls a large portion of the regional market, which is being bolstered by new entrants such as Hisense Co., Ltd., and TCL Corporation, who are expanding their footprint and increasing rivalry for established firms. These factors are driving the growth of the market in this region.
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Smart TV Market Segmentation
By Resolution, the 4K HDTV dominated the smart TV market with a 40% share in 2020. Because of their steadily decreasing pricing, 4K TVs have acquired a lot of traction. Sales of these televisions have exceeded those of HDTVs, according to the Consumer Technology Association. The adoption of quantum dot technology and nanotechnology by key manufacturers like Samsung Electronics Co., Ltd., Sony Corporation, etc. to improve the picture quality of their products in this category has resulted in increased demand.
Smart TV Market Key Players
LG Electronics Inc., Ltd.
Samsung Electronics Co. Ltd.
Sony Corporation
VIZIO Inc.
Videocon Industries Ltd
Xiaomi
Panasonic Corporation
Apple Inc.
Hisense Group Co. Ltd.
Koninklijke Philips NV
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Key questions answered in the Smart TV Market are:
- What is Smart TV ?
- What was the Smart TV market size in 2023?
- What is the growth rate of the Smart TV Market?
- Which are the factors expected to drive the Smart TV market growth?
- What are the different segments of the Smart TV Market?
- What growth strategies are the players considering to increase their presence in Smart TV ?
- What are the upcoming industry applications and trends for the Smart TV Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Smart TV Market?
- Who are the leading companies and what are their portfolios in Smart TV Market?
- What segments are covered in the Smart TV Market?
- Who are the key players in the Smart TV market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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