Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Smart TV Market size is set to rise from USD 225.91 billion in 2024 to USD 919.27 billion by 2037, witnessing a CAGR of more than 11.4% throughout the forecast period, between 2025 and 2037. Currently in 2025, the industry revenue of smart TV is estimated at USD 243.94 billion.
The primary driver for the market is the increase in affordable over-the-top (OTT) content. According to the Ministry of Information and Broadcasting, there are 57 OTT platforms in India.
Smart TV Sector: Growth Drivers and Challenges
Growth Driver
- Rapidly flourishing customized applications for smart TVs - Every viewer has a different taste and content creators are exploring each genre to stay ahead in this competitive field and provide the best to the consumers. However, the surge in viewer’s demand for exclusive top-quality content has led to the development of specially customized applications that can run on smart TVs and meet the consumer's requirements. Disney+Hotstar is one of the leading online video streaming apps that breaks the language barrier with top content for different genres.
- Innovations in operating systems - Smart TVs have more facilities than traditional ones. These can seamlessly run on wi-fi and offer an enhanced user experience. With the help of vice control, the need to type is gradually vanishing. Manufacturers worldwide understand the strategy that offering modern-day technologies will be highly accepted and frequently demanded by consumers. According to a recent analysis, in 2020, Tizen held a share of 12% in the widely used category of smart TV.
- Rising disposable income - One of the most prominent factors driving growth in the market is the rising disposable income. As per the Press Information Bureau (PIB), the Gross National Disposable Income for the year 2022-23 in India was Rs 273.99 lakh crore at current prices.
Challenges
- Technological advances - Day-by-day emerging new models of Smart TV in the market impact consumer’s decision to purchase a particular model as consumers may alter their decision and seek better models and prices.
- Numerous OTT Platforms – Diversification of OTT platforms has confused consumers in terms of purchasing a subscription.
Smart TV Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
11.4% |
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Base Year Market Size (2024) |
USD 225.91 billion |
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Forecast Year Market Size (2037) |
USD 919.27 billion |
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Regional Scope |
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Smart TV Segmentation
Resolution (4K UHD TV, HDTV, Full HD TV, 8K TV)
Full HD TV segment is poised to capture around 50% smart TV market share by the end of 2037. The segment is growing as it offers enhanced user experience with high resolution and seamless streaming of diverse groups of content. LG Electronics provides Full HD Smart LED TV with (1920 x 1080) resolution providing a premium video streaming experience.
Screen Size (Below 32 inches, 32 to 45 inches,46 to 55 inches,56 to 65 inches, Above 65 inches)
46 to 55-inch segment in the smart TV market is anticipated to dominate majority share by 2037. The segment growth is attributed to the rising trend of Smart TVs that offer big screens and consumer affordability due to reduced prices. Under this category, the Samsung S90C is one of the top-rated finely designed 4K resolution organic LED smart TVs.
Our in-depth analysis of the market includes the following segments:
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Resolution |
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Screen Size |
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Screen Shape |
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Operating System |
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Distribution |
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Technology |
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Customize this ReportSmart TV Industry - Regional Synopsis
APAC Market Statistics
Asia Pacific industry is expected to dominate majority revenue share of 40% by 2037. The growing trend of TV, increasing affordability by the middle class, and the desire to watch exclusive content are the growth driving factors for the Asia Pacific region. In India, a huge number of audiences present on OTT platforms significantly boosts the demand for the market. As per a report, in 2023, the average minute audience was over 1 Trillion in India. The market in China is growing due to rapid technological innovations in the consumer electronics industry, increased use of TV, and expansion in the disposal income. According to a recent study, the smart TVs were valued at around USD 620 Billion Yuan in 2020. The market in Korea is flourishing due to the demand for larger screen, cheap prices, and the availability of advanced features. In 2022, nearly 60% of households were found using smart TVs in South Korea.
North American Market Analysis
North American region in smart TV market is set to exhibit around 2% CAGR till 2037, owing to the growing population of video streaming applications in this region. The U.S. is technologically an advanced country and television is the primary source of entertainment but with the incorporation of avant-garde features, now the smart TV have taken over the traditional entertainment systems as these have diverse sources of entertainment. As per a report, nearly 68% of U.S. residents who are under the age group of 18 to 29 claim to own smart TVs. The market is thriving in Canada due to the rise in disposable income and enthusiasm among youth for smart TVs. As per Statistics Canada, the disposable income of Canada was over 1.5 million in 2023.
Companies Dominating the Smart TV Landscape
- Koninklijke Philips N.V.,
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Haier Group
- Intex Technologies
- SAMSUNG
- Hisense International
- TCL
- VIZIO, Inc.
- LG Electronics
- ShenzhenSkyworth DigitalTechnology Co., Ltd
- Xiaomi
The market is dominated by key market players who are gaining traction in the market by rising disposable income.
In the News
- Samsung has recently launched a new TV and audio series for 2024 and as per review professionals, the products are hands-down masterpieces and will enhance the viewer’s experience.
- LG Electronic showcased its cutting-edge display solutions designed to suit corporate, hospitality, and other sectors at Integrated System Europe 2024 held from January 30 – Feb 2.
Author Credits: Abhishek Verma
- Report ID: 6183
- Published Date: Mar 19, 2025
- Report Format: PDF, PPT
