Smart Television (TV) - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Smart Television (TV) Market is accounted for $147.80 billion in 2020 and is expected to reach $1,105.61 billion by 2028 growing at a CAGR of 28.6% during the forecast period. Some of the key factors propelling the market growth include increasing demand for smart TV’s, technological advancements in TV resolution from HD towards 4K and higher, demand for web-enabled TV’s, increasing usage of the internet, growing disposable income across emerging economies, and development of entertainment technologies. However, lack of high-speed internet penetration in emerging economies is likely to restraint the market.
Smart TV is basically a concurrence between computer and social TV which allows users to use all features presents in computers or smartphones. Smart TV offers various features such as internet accessibility, storage capacity, GPS system and other entertainment features such as games, music and other. Smart TV is integrated with internet connection which allows access to a number of popular websites including Netflix, YouTube, Amazon Prime and Hulu. In addition to this, smart TV is currently facing many technological transformations such as motion control. Adoption of smart TV by advertisement media is a key trend which is expected to lead smart TV generation to the next level.
By panel type, the quantum dot light emitting diode (QLED) segment is projected to be a significant-growing segment in the oil & gas pumps market, owing to increased adoption since it comprises of a variety of features which other panel types are unable to offer and the advent of QLED technology has led to a decline in LCD panel manufacturing. QLED panels work the same way as LED TVs. There is a backlight built from hundreds or thousands of LEDs that light the individual pixels. QLED improves on standard LED by employing nanoparticles (quantum dots) to supercharge the brightness and color of these individual pixels. The result is a more vibrant color. QLED Alliance has been developed, which consists of Samsung, Hisense, and TCL, devoted to furthering the Quantum Dot cause. This is aiding in the market growth and helping in new product development.
On the basis of geography, the Asia Pacific region is expected to have considerable market growth during the forecast period, due to rise in the regional demand for 4K televisions as customers is choosing UHD TVs due to their sleek design and better image quality, increasing demand for smart TVs by end-users, and the emerging economies of India, China, and Japan. The rising demand for these sets has created opportunities for the content providers to deliver content in better resolution and recording facilities that can support 4K technology. China dominated the market, supported by the emergence of new entrants such as Hisense Co., Ltd. and TCL Corporation, who made the competition fierce for the major players. A few Chinese brands such as TCL Corporation have also entered the North American region, thereby ensuring a global coverage for these brands.
Some of the key players in Smart Television (TV) Market include Panasonic Corporation, Vizio Inc., Koninklijke Philips NV, TCL Corporation, Haier Group Corporation, Hitachi Ltd., Samsung Electronics Co. Ltd., Sony Corporation, LG Electronics, Inc., Insignia Systems Inc., Sansui Electric Co. Ltd., Apple Inc., Videocon Industries Limited, Toshiba Corporation, Hisense Group Co. Ltd., Skyworth Digital Holdings Co., Ltd., and Intex Technologies.
Estimated Market Size in 2020:
USD 147.80 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 1,105.61 billion
Tables, Graphs & Figures
Screen Type, Refresh Rate, Resolution Type, Platform, Distribution Channel, Screen Size, Panel Type, Accessory, Technology, Application, and End User
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Screen Types Covered:
• Curved Screen
• Flat Screen
• Foldable Screen
Refresh Rates Covered:
Resolution Types Covered:
• 8K Television (TV)
• High Definition Televsion (HDTV)
• 4K Ultra-High-Definition Television (UHD TV)
• Full High Definition (HD) TV
• 4K Television (TV)
• Tizen Operating System (OS)
• Roku Television (TV)
• iPhone Operating System (OS)
• Android TV & Google TV
• Web Operating System (OS)
• Fire Television (TV) (AMAZON)
Distribution Models Covered:
• Online Stores
Screen Sizes Covered:
• Above 65 Inches
• 56 to 65 Inches
• 46 to 55 Inches
• 32 to 45 Inches
• Below 32 Inches
Panel Types Covered:
• Organic Light Emitting Diode (OLED)
• Liquid Crystal Display (LCD)
• Quantum Dot Light Emitting Diode (QLED)
• Light Emitting Diode (LED)
• Plasma Display Panel (PDP)
• Surface-Conduction Electron-Emitter Display (SED)
• Television (TV) Camera
• 3D Glasses
• wireless Local Area Network (LAN) Adaptor
• Gaming Devices/Play Stations
• Interface Design
• Operating System
End Users Covered:
• Office Purpose
• Educational Purpose
• Commercial (Advertising)
• News Reader
• Social Networking Services
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Smart Television (TV) Market is majorly driven by rising trend of video-on-demand service, increasing demand for personalized entertainment, increasing penetration of high-speed internet, and rising disposable income of the population.
The 4K ultra-high-definition television (UHD TV) segment is growing at a highest CAGR owing to the increase in the demand for such type of TVs as a result of decreasing costs, the mounting deployment of smart entertainment products with high resolution, and increasing advancement in technology.
Asia Pacific dominated with a significant market share due to rising adoption of smart TVs across various sectors as a result of increasing demand for TVs that offer enhanced image & sound quality and smooth design, enhancing living standards of people, and rising inclination towards OTT VOD platforms like Netflix.
Middle East and Africa market is growing at a highest CAGR owing to the advancements across the OTT space, a notable increase in the development of engaging content are leading to a rapid rise in the adoption of smart TVs in the region, and shifting consumer focus toward online content owing to the increasing availability of seamless.
Key players in Smart Television (TV) Market include Panasonic Corporation, Vizio Inc., Koninklijke Philips NV, TCL Corporation, Haier Group Corporation, Hitachi Ltd., Samsung Electronics Co. Ltd., Sony Corporation, LG Electronics, Inc., Insignia Systems Inc., Sansui Electric Co. Ltd., Apple Inc., Videocon Industries Limited, Toshiba Corporation, Hisense Group Co. Ltd., Skyworth Digital Holdings Co., Ltd., and Intex Technologies.
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