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Leading Companies Fueling Growth and Innovation in the Televisions Market
Televisions Market
Projected Growth and Market Size of the Televisions Market by 2030
The televisions market is expected to grow steadily, reaching a valuation of $195.75 billion by 2030. This expansion is forecasted at a compound annual growth rate (CAGR) of 3.7%. Several factors contribute to this upward trend, including progress in OLED and QLED technologies, the rising popularity of smart and connected TVs, expansion of streaming services, and increased adoption of home automation systems. Additionally, a growing emphasis on energy efficiency and sustainable product options is influencing market growth. Important trends during this period include smart TVs equipped with voice and gesture controls, widespread adoption of 8K and ultra-high-definition screens, integration with home automation ecosystems, and smart TVs preloaded with streaming platforms.
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Top Companies Leading the Televisions Market
The televisions market is dominated by several prominent companies, including Samsung Electronics Co. Ltd., LG Electronics Inc., Sony Corporation, Hisense Group Co. Ltd., TCL Corporation, Koninklijke Philips N.V., Vizio Inc., Toshiba Corporation, Skyworth Group, RCA Corporation, Magnavox, Sharp Corporation, JVC (Victor Company of Japan Limited), Polaroid/Sceptre, Sansui Electric Co. Ltd., Onida, Xiaomi Corporation, Micromax Informatics Limited, Haier Group Corporation, Hitachi Ltd., Lloyd Electric & Engineering Ltd., Panasonic Corporation, FunAI Electric Co. Ltd., Changhong Electric Co. Ltd., Konka Group Co. Ltd., Seiki Digital Inc., Element Electronics Corporation, Westinghouse Electric Corporation, Mitsubishi Electric Corporation, NEC Corporation, Videocon Industries Limited, Intex Technologies (India) Ltd., and AkAI Electric Co. Ltd.
Significant Industry Development: Walmart's Acquisition of Vizio
In February 2024, Walmart, a major US-based retail corporation, completed the acquisition of Vizio for $2.3 billion. This strategic move enables Walmart to integrate viewer data with purchasing insights, enhancing targeted advertising efforts through its stores and smart TV platforms. The acquisition bolsters Walmart's competitive edge against Amazon in both retail and digital advertising, offering advertisers a strong alternative channel. Vizio, a US-based smart television manufacturer, gains from Walmart's extensive retail network and data capabilities.
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Emerging Trends Enhancing Television Market Innovation
Leading television manufacturers increasingly focus on integrating artificial intelligence (AI) to improve picture quality and user experience. AI-powered picture processing applies deep learning algorithms to analyze content scene-by-scene, optimizing brightness, contrast, and color precision for a more immersive viewing experience. For example, in January 2023, Samsung Electronics introduced its 2023 lineup featuring Neo QLED, MICRO LED, and OLED televisions equipped with the Neural Quantum Processor and Quantum Mini LED technology. The Neo QLED series includes advanced features like Shape Adaptive Light Control, Real Depth Enhancer Pro, and Auto HDR Remastering, delivering realistic three-dimensional images. Meanwhile, the MICRO LED models offer modular, bezel-free displays ranging from 50 to 140 inches, allowing highly customizable configurations. Samsung's OLED lineup integrates Quantum Dot technology, a 144 Hz refresh rate, AMD FreeSync Premium Pro certification, and the Samsung Gaming Hub to elevate gaming experiences. Their product range also supports SmartThings for seamless multi-device connectivity, and Samsung TV Plus offers over 1,800 ad-supported channels worldwide.
Key Product and Customer Segments Defining the Televisions Market
This report divides the televisions market into several essential segments:
1) Product Type: Smart TVs and Traditional TVs
2) Technology: LCD, LED, OLED, QLED
3) Screen Size: Below 32 Inches, 32 to 45 Inches, 46 to 55 Inches, 56 to 65 Inches, Above 65 Inches
4) End-User: Residential, Commercial, and Other users
Further breakdown includes:
- Smart TVs by type: LED Smart TVs, OLED Smart TVs, QLED Smart TVs, 4K and 8K Smart TVs, and operating system categories such as Android TV, Roku TV, and others
- Traditional TVs including LED TVs (non-smart), LCD TVs, and Plasma TVs
These segments highlight the broad array of consumer preferences and technological options available in the television market today.
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