Smart TV is defined as a digital television with integrated internet and interactive features. It is a mixture of computer & social TV which allows users to use all the features of computers or smartphones on TV. This is also called as connected TV. These are responsible for transforming the television industry by providing a broad spectrum of innovative features via internet-connected services that were not available with traditional CRT televisions. Smart TVs have Wi-Fi capability or an Ethernet port which allows users to stay connected to the internet.
The shifting consumer preferences towards online content as a result of increasing penetration of high speed internet across the globe are expected to propel the growth of global smart TV market throughout the forecast period. Various providers are teaming up with streaming device with streaming device manufacturers. For Example, Sharp Corporation had incorporated Roku in its smart TV sets so that customers can personalize the screens of their TV sets & access the Roku channel store.
The smart TV manufacturers are competing for the latest innovations in the user interface; content aggregation & application development, such as smart TVs come with an operating system which can run apps and widgets that can stream videos & music. Various regional players are focusing on expanding their presence across the globe to gain market share. The Smart TV industry is witnessing intense rivalry among premium segment as players have exhibited keenness towards introducing & promoting Ultra High Definition (UHD) screens. This is expected to boost the target market growth over the forecast period.
Lack of high speed internet in merging economies is expected to hamper the global smart TV market growth during this forecast period.
The Global Smart TV Market is segmented into resolution such as 4K UHD TV, HDTV, Full HD TV, and 8K TV, by screen size such as Below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, Above 65 inches. Further, market is segmented into panel type such as LCD, LED, OLED, and QLED.
Also, the Global Smart TV Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The APAC dominated the smart TV market with a revenue share of over 35% in the year 2017. The increase in regional demand for 4K televisions as customers is choosing UHD TVs owing to their sleek design & better image quality. The growing demand for these sets has created opportunities for the content providers to deliver content in better resolution & recording facilities which can support Smart TV market.
China dominated the market, supported by the emergence of new entrants like Hisense Co., Ltd. & TCL Corporation, who made the competition fierce for the major key players. A few Chinese brands such as TCL Corporation have also entered in the North America region, thereby ensuring a global coverage for these brands.
Several key operating players are listed in this report such as Sony Corporation, Samsung Electronics Co. Ltd, LG Electronics Inc., Panasonic Corporation, IZIO Inc, Apple Inc, Hisense Group Co. Ltd, Sharp Corporation, Koninklijke Philips NV, TCL Corporation, Insignia Systems Inc., etc.
Market Drivers
The shifting consumer preferences towards online content as a result of increasing penetration of high speed internet across the globe are expected to propel the growth of global smart TV market throughout the forecast period. Various providers are teaming up with streaming device with streaming device manufacturers. For Example, Sharp Corporation had incorporated Roku in its smart TV sets so that customers can personalize the screens of their TV sets & access the Roku channel store.
The smart TV manufacturers are competing for the latest innovations in the user interface; content aggregation & application development, such as smart TVs come with an operating system which can run apps and widgets that can stream videos & music. Various regional players are focusing on expanding their presence across the globe to gain market share. The Smart TV industry is witnessing intense rivalry among premium segment as players have exhibited keenness towards introducing & promoting Ultra High Definition (UHD) screens. This is expected to boost the target market growth over the forecast period.
Market Restraints
Lack of high speed internet in merging economies is expected to hamper the global smart TV market growth during this forecast period.
Market Segmentation
The Global Smart TV Market is segmented into resolution such as 4K UHD TV, HDTV, Full HD TV, and 8K TV, by screen size such as Below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, Above 65 inches. Further, market is segmented into panel type such as LCD, LED, OLED, and QLED.
Also, the Global Smart TV Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Regional Analysis
The APAC dominated the smart TV market with a revenue share of over 35% in the year 2017. The increase in regional demand for 4K televisions as customers is choosing UHD TVs owing to their sleek design & better image quality. The growing demand for these sets has created opportunities for the content providers to deliver content in better resolution & recording facilities which can support Smart TV market.
China dominated the market, supported by the emergence of new entrants like Hisense Co., Ltd. & TCL Corporation, who made the competition fierce for the major key players. A few Chinese brands such as TCL Corporation have also entered in the North America region, thereby ensuring a global coverage for these brands.
Market Key Players
Several key operating players are listed in this report such as Sony Corporation, Samsung Electronics Co. Ltd, LG Electronics Inc., Panasonic Corporation, IZIO Inc, Apple Inc, Hisense Group Co. Ltd, Sharp Corporation, Koninklijke Philips NV, TCL Corporation, Insignia Systems Inc., etc.
Market Taxonomy
By Resolution
- 4K UHD TV
- HDTV
- Full HD TV
- 8K TV
By Screen Size
- Below 32 inches
- 32 to 45 inches
- 46 to 55 inches
- 56 to 65 inches
- Above 65 inches
By Panel Type
- LCD
- LED
- OLED
- QLED
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Smart TV Market?
- What will be the growth rate from 2019 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
- What are the strategies adopted by key players?
Frequently Asked Questions about the Global Smart TV Market
What is the estimated value of the Global Smart TV Market?
What is the growth rate of the Global Smart TV Market?
What is the forecasted size of the Global Smart TV Market?
Who are the key companies in the Global Smart TV Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 185 |
| Published | October 2021 |
| Forecast Period | 2017 - 2027 |
| Estimated Market Value ( USD | $ 99.59 billion |
| Forecasted Market Value ( USD | $ 204.56 billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
Table of Contents
1 Introduction
2 Research Methodology
4 Global Smart TV Market Outlook
5 Global Smart TV Market, By Resolution
6 Global Smart TV Market, By Screen Size
7 Global Smart TV Market, By Panel Type
8 Global Smart TV Market, By Region
9 North America Smart TV Market Analysis and Forecast (2020-2027)
10 Europe Smart TV Market Analysis and Forecast (2020-2027)
11 Asia Pacific Smart TV Market Analysis and Forecast (2020-2027)
12 Latin America Smart TV Market Analysis and Forecast (2020-2027)
13 Middle East Smart TV Market Analysis and Forecast (2020-2027)
14 Competitive Analysis
15 Company Profiles
Companies Mentioned
- Sony Corporation
- Samsung Electronics Co. Ltd
- LG Electronics Inc.
- Panasonic Corporation
- IZIO Inc
- Apple Inc
- Hisense Group Co. Ltd
- Sharp Corporation
- Koninklijke Philips NV
- TCL Corporation
- Insignia Systems Inc.
