Smart TV Market Trends, Growth , Key Companies, Regional Analysis And Forecast To 2031 | Sony Corporation, LG Electronics Inc, TCL Corporation, Koninklijke Philips N.V., Panasonic Corporation
The global smart tv market report by the business research company identifies he rising popularity of video-on-demand services is a key factor driving the growth of the smart TV market. Video on Demand (VoD) is one of the innovative features that Internet Protocol TV (IPTV) gives. to be a major growth driver for the smart tv market. VoD gives consumers a range of available videos to choose from. The video is transmitted via the Real-Time Streaming Protocol. In recent years VOD has gained tremendous popularity, and this has resulted in higher smart TV adoption rates. For instance, in 2019, US providers were the pioneer of VoD users. Amazon Prime Video came at first with 72%, and Netflix was second with 63%. In 2019, 53% of users spent more than $11 a month on streaming services. Therefore, the rising trend of video-on-demand services is expected to drive the growth of the smart TV market.
The global smart tv market grew from $174.5 billion in 2021 to $186.9 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The smart tv market is expected to grow to $244.41 billion in 2026 at a CAGR of 6.9%.
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Asia Pacific was the largest region in the smart TV market in 2021. North America was the second-largest region in the smart TV market. The regions covered in the smart TV market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major players in the smart TV market are Sony Corporation, LG Electronics Inc, TCL Corporation, Koninklijke Philips N.V., Haier Electronics Group Co. Ltd, Panasonic Corporation, Samsung Electronics, Apple Inc., Toshiba Corporation, and Hitachi Ltd.
The global smart TV market is segmented -
1) By Product Type: 4K UHD TV, Full HD TV, HDTV, 8K TV
2) By Panel Type: LCD, LED, OLED, QLED
3) By End User: Home, Offices, Education Institutions, Other
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The Smart TV Market Report Contents Include
1. Executive Summary
2. Smart TV Market Characteristics
3. Smart TV Market Trends And Strategies
4. Smart TV Market - Macro Economic Scenario
5. Smart TV Market Size And Growth
26. Africa Smart TV Market
27. Smart TV Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart TV Market
29. Smart TV Market Future Outlook and Potential Analysis
This report covers the trends and market dynamics of the smart tv market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that excels in company, market, and consumer research. It has published over 3000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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