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Smart TV Market : Global Demand Analysis & Opportunity Outlook 2024

Published On : December, 2018 REP-ID-386 Category: ICT & Electronics

Smart TV Market Overview

Smart TV is basically a concurrence between computer and social TV which allows users to use all features presents in computers or smartphones. Smart TV offers various features such as internet accessibility, storage capacity, GPS system and other entertainment features such as games, music and other. Smart TV is integrated with internet connection which allows access to a number of popular websites including Netflix, YouTube, Amazon Prime and Hulu. In addition to this, smart TV is currently facing many technological transformations such as motion control. Adoption of smart TV by advertisement media is a key trend which is expected to lead smart TV generation to the next level.

Market Size & Forecast

In terms of revenue, global smart TV market is anticipated to flourish at a compound annual growth rate (CAGR) of 8.5% over the forecast period i.e. 2017-2024. Global smart TV market stood at revenue around USD 260.2 Billion in 2016. Rising disposable income of consumers, growing population and changing lifestyles of middle class population are some major factors which are expected to foster the growth of global smart TV market during the forecast period.

Geographically, global smart TV market is segmented into five major regions i.e. North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Asia Pacific region is the dominating market of smart TV and is expected to continue its dominance over the forecast period owing to the increasing demand for smart TV by end users and presence of fastest growing economies such as India and China.

smart TV Market

North America region is anticipated to witness a robust growth during the forecast period. This growth of North America region can be attributed to rising popularity of Netflix and other services in this region. Further, Europe region is projected to witness a small growth during the forecast period owing to factors such as low advertisements and promotion campaign by TV brands and shortage of better local content in this region. On the other hand, Latin America region expected to grow at a satisfactory pace over the forecast period due to digital switchover in this region.

Market Segmentation

Our-in depth analysis of the global smart TV market includes the following segments:

By Technology

  • Liquid Crystal Display
  • Plasma Display Panel
  • Light Emitting Diodes & Organic Light Emitting Diode

By Distribution Channel

  • Online Stores
  • Single Brand Stores
  • Multi Brand Stores

By Size

  • Up to 32 Inch
  • 39-50 Inch
  • 55-65 Inch
  • 70 Inch or Larger

By End User

  • Home
  • Offices
  • Education Industry
  • Other

By Region

Global smart TV is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis

Growth Drivers & Challenges

Joint venture of lading players in order to provide more features in smart TV and to maximize the selling numbers of products is one of the major factors driving the growth of global smart TV market. Additionally, industry leaders are making high investment in technology to improve the overall performance of smart TV. Such technological development is further attributed to drive the growth of global smart TV market.

Moreover, increasing number of internet users across the globe and rise in demand for internet connected multimedia devices is bolstering the growth of global smart TV market. Apart from this, global smart TV market is driven by rising disposable income of the consumers and their inclination towards high-tech devices. Such factors have led all major players to increase spending on innovation and development of consumer electronics which is further envisioned to propel the demand for smart TV.

However, high cost of smart TVs is hampering the growth of global smart TV market. Moreover, rising adoption of personal computers over television is also hindering the growth of global smart TV market.

Key Players

  • Apple Inc.
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Advanced Micro Devices Inc.
  • Google Haier Group
  • Intel Corp.
  • LG Electronics Inc.
  • Microsoft Corporation
  • Panasonic Corporation
  • Samsung
  • Sony Corporation
  • Boxee
  • Cable Labs
  • Logitech International S.A.
  • Nyxio Technologies Corp.
  • Toshiba
  • Yahoo Inc.

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