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Smart TV Market : Global Demand Analysis & Opportunity Outlook 2024

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Extensive insights into the Growth of Smart TV Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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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.CLICK TO DOWNLOAD FREE SAMPLE REPORT

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 (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & 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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