Press release
Smart Television Market size is expected to grow at a 14.2% CAGR in 2021-2027
The smart television market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The study of the report will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the smart television industry.
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Smart Television Industry Outlook
The global smart television market size was valued at USD 190.2 billion in 2020 and is expected to grow at a 14.2% CAGR in 2021-2027. Television has been the main source of entertainment. There is a growing preference for smart offices and smart homes with the advancement of technology, where smart television is an important part of it. Smart television serves its original entertainment purpose and functions as a DVD player, music player, and internet-based applications, i.e., transforming it into a computer such as streaming videos from online streaming platforms such as Amazon TV, Netflix, Hulu, and Google Movies. The screen size, display type, and resolution also affect the demand and sales of smart televisions integrated with smart features.
Smart Television Market Dynamics:
The wide availability of diversified content for consumers to witness that smart television has been clinically driving the global smart television market growth. Furthermore, the smart television provides the consumer with complete home entertainment. It's got everything we imagine on television. This can be called an extended version of the smartphone or an upgraded version. These applications previously developed for smartphones are now seeking their market in the category of smart television. Android, a major player in the smartphone industry, is now gaining good exposure in the smart television market; the only difference is that a large audience on an individual uses smartphones compared to a smart television.
Impact of COVID-19 on Smart Television Market:
A comprehensive analysis is conducted on the presence of the smart television industry across different regions & countries, top market share of companies, growth rate & analysis of prices. The serious disruptions caused by COVID-19, recovery measures, innovations, new technologies, & emerging sectors are evaluated. The COVID-19 pandemic has drastically affected all consumers' lifestyles and routines. In-home video consumption has been driven to unprecedented levels by shelter-in-place orders and work-at-home mandates.
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However, in terms of supply, due to the closure of borders, the market is becoming negatively affected, thus affecting the entire global smart television supply chain. For instance, TCL's panel manufacturing subsidiary, CSOT, is the epicenter of the COVID-19 outbreak in Wuhan. TCL is struggling to run the panel manufacturing facility and its supply to the smart television manufacturing unit.
Scope of the Report
The report outlines the study of the smart television market based on screen type, display type, resolution type, screen size, and application.
Based on screen type, the smart television market is segmented into -
Flat
Curved
Based on display type, the smart television market is segmented into -
LCD (Liquid Crystal Display)
LED (Light Emitting Diodes)
Plasma
Organic Light Emitting Diode
QLED (Quantum DotLED)
Based on resolution type, the smart television market is segmented into -
UHD TV
HDTV
Full HD TV
TV 8 K
Based on screen size, the smart television market is segmented into -
32 inches and lower
32+ to 55 inches
55+ to 65 inches
Above 65 inches
Based on application, the smart television market is segmented into -
Residential
Commercial
Smart Television Market: Regional Outlook
From a geographical viewpoint, the smart television market is segmented into North America, Asia Pacific, Europe, South America, and Middle East & Africa (MEA). In 2019, Asia-Pacific was expected to dominate the smart television market. It was expected to continue to dominate over the forecast period, owing to growing demand from end-users and the emerging economies of India, China, and Japan for smart televisions. Consumer's growing net disposable income has been an important factor in the region's continued demand. The growth is also attributed to the increasing popularity of OTT VOD platforms across this region, such as Amazon Prime Video, Netflix, HOOQ, and others. The availability of supporting content for these devices, such as HD videos, HD set-top boxes, and games, has also acted as a demand-generating catalyst.
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Competitive Landscape -
The leading smart television manufacturers in the global market include Samsung, Sony Corporation, LG Electronics, Google, Panasonic, and Sharp Corporation.
Other smart TV manufacturers include XIAOMI, Kodak, TCL, and others.
April 2020 - Sony Electronics Inc. revealed the pricing and availability of the latest 2020 LED and OLED TV models announced at CES 2020 earlier. Sony's processors will power the TV lineup 2020 with the advanced TRILUMINOS Display color and gradation. The TVs are also equipped with Google Assistant to help you access entertainment quickly, control smart devices, get on-screen responses, and use your voice more.
March 2020 - LG Electronics announced the sale of its 2020 TV lineup, consisting of 14 OLED models, including the GX Gallery series, 8 K ZX models, and 4 K Ultra HD TVs.
The smart television market report provides a thorough analysis of macro-economic factors and every segment's market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players in the respective segment and region/country. The information concluded in the report includes the inputs from industry participants and industry experts across the value chain.
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Smart Television Market Report Covers Comprehensive Analysis On:
Market Segmentation & Regional Analysis
Market Size of 10 years
Pricing Analysis
Supply & Demand Analysis
Product Life Cycle Analysis
Porter's Five Forces & Value Chain Analysis
Developed & Emerging Economies Analysis
PEST Analysis
Market and Forecast Factor Analysis
Market Opportunities, Risks, & Trends
Conclusion & Recommendation
Regulatory Landscape
Patent Analysis
Competition Landscape
15+ Company Profiles
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