Smart TVs Market is expected to increase ~265 Million Units in 2025 | Top Key Players – Samsung, LG, Sony, TCL, Huawei, Xiaomi, Philips, Toshiba, Hisense

The unit shipments for the Smart TVs market is expected to increase from ~200 Million units in 2019 to ~265 Million units in 2025, growing at a CAGR of 4.8%.The 46-55 inch segmented is expected to increase rapidly in terms of sales over the forecast period or even in the COVID-19 situation. The growth is stated because of various reasons including high resolution/high picture quality and better sound experience.

The growing penetration of internet-enabled devices across the world has increased the consumer preference for smart home devices that includes smart TV. Smart TV now accounts for more than 70% TV shipments as compared to less than 30% in 2012-13.

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SMART TV MARKET DYNAMICS

Post COVID, the online education industry can also boost the smart TV demand as more kids are starting to adapt to online learning instead of the traditional classroom. A smart TV can give a superior learning experience.

In the smart TV industry, the user needs time to get comfortable with the new technology. Further, constant over the air update results in a bad experience, affordability of high-speed broadband internet in low income countries are the primary factors restraining the growth of global smart TV market.

MARKET SEGMENTATION

The global smart TV market is segmented by

By Panel type
• LCD
• LED and OLED
• Plasma Display Panel

By Resolution type
• 4K UHD TV
• Full HDTV
• HDTV
• 8K TV

By distribution channel
• Online stores
• Single brand stores
• Multi-brand stores

By Screen size
• 28 to 40 inches
• 41 to 59 inches
• 60 inch & larger

By Screen type
• Flat
• Curved

By Region
• Asia-Pacific
• North America
• Latin America
• Middle-East & Africa
• Europe

By End-User
• Enterprises
• Consumers

COVID IMPACT ON SMART TV MARKET

US is a major market for consumer electronics and about 10% of US population buys/upgrade a TV every year. Now a sizeable portion of that volume is Smart TVs.As TVs are now being used for a variety of purposes, demand for 65 inch+ segment further expanded by 18% in 2020 in US. For Samsung North America, 75+ inch segment volumes have been fastest growing in 2020. LG , a strong rival to Samsung has also seen burgeoning demand for TVs with a tag fo $1,000 and above.

Streaming gadgets and set-top boxes like Roku, Apple TV etc are slowly declining in sales as smart TVs further gain ground. In Europe, it is expected that sales of TVs could decline by as much as 37% in 2020.

COMPETITOR ANALYSIS

Among several players in the smart TV market, Samsung and LG are major players in terms of market share/growth.Samsung had a share of ~20% in 2019 of the TV unit sales across the globe, followed by LG with ~12% market share.

LG’s WebOS is a better operating system with more features like Amazon Alexa/Google assistant compared to the Samsung Tizen platform. Samsung operating in 213 locations whereas LG operating in 130 locations globally.

In FY18, LG electronics reported $54.9 billion USD in revenue that has increased in FY19 when the company generated revenue of $55.76 billion USD.

Some of the Key Players:

Samsung
LG
Sony
TCL
Huawei
Xiaomi
Philips
Toshiba
Hisense
Panasonic
Vizio

Read More Information: https://mobilityforesights.com/product/smart-tv-market/

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