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Smart Television Market Size, Current Insights, and Development Trends 2022-2030 [CAGR of 15.2%]
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Factors Influencing the Market
The growing trend of smart offices and smart homes will offer ample growth opportunities for the smart television market growth. In addition, the increasing number of advancements in technology is forecast to fuel the growth of the smart television market. In July 2020, Samsung introduced its latest series of QLED Smart TVs. Furthermore, OnePlus unveiled its smart TV in September 2019. It is considered the first proper foray of the manufacturer into non-smartphone hardware. In addition, Samsung Electronics Co. Ltd unveiled its line of 2020 QLED 4K and 8K TVs in March 2020. Such advancements are likely to benefit the entire smart television market.
Smart televisions also include DVD players, music players, and internet-based applications. All of these features turn them into computers capable of streaming videos from online streaming platforms like Amazon TV, Netflix, Hulu, and Google Movies. Furthermore, the rising demand for smart televisions with smart features will surge the market growth during the forecast period.
The global smart television market is forecast to witness favorable opportunities, owing to the extensive availability of different content for consumers' experience. In addition, the growing urban population and rising disposable income are likely to benefit the global smart television market.
COVID-19 Impact Analysis
The COVID-19 epidemic has had a significant impact on all consumers' lifestyles and habits. In-home video consumption has reached new heights due to work-from-home mandates. However, the market is being badly impacted in terms of supply. Governments of various countries announced border closures, which is impacting the supply chain.
Regional Analysis
Asia-Pacific is forecast to dominate the global smart television market in terms of revenue. The growth of the market is attributed to the presence of prominent industry players such as LG Electronics, Samsung, etc. In addition, OTT VOD platforms, such as Amazon Prime Video, HOOQ, and Netflix, are gaining rapid traction in the region. As a result, it will surge the growth of the Asia-Pacific smart television market.
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The growing number of launches by the regional industry players is forecast to benefit the market. Shinco, an Indian television brand, unveiled its latest television, the S43UQLS 43- inch 4K HDR LED Smart TV, in July 2020.
Competitors in the Market
LG Electronics Inc.
Samsung Electronics Co. Ltd.
Sony Corporation
VIZIO Inc.
Videocon Industries Ltd.
Sansui Electric Co. Ltd.
Toshiba Corporation
Haier Electronics Group Co., Ltd.
Other Prominent Players
Market Segmentation
The global smart television market segmentation focuses on Screen, Display, Resolution, Screen, Application, and Region.
Based on Screen Type
Flat
Curved
Based on Display Type
LCD (Liquid Crystal Display)
LED (Light Emitting Diodes)
Plasma
Organic Light Emitting Diode
QLED (Quantum DotLED)
Based on Resolution Type
UHD TV
HDTV
Full HD TV
TV 8 K
Based on Screen Size
32 inches and lower
32+ to 55 inches
55+ to 65 inches
Above 65 inches
Based on Application
Residential
Commercial
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Based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What is the goal of the report?
-The market report presents the estimated size of the ICT market at the end of the forecast -period.
-The report also examines historical and current market sizes.
-During the forecast period, the report analyzes the growth rate, market size, and market valuation.
-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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