Smart TV Market

: Global Demand Analysis & Opportunity Outlook 2024

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Report ID: 386 | Published On: Feb 13, 2023
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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

smart TV Market
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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

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.

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Top Featured Companies Dominating the Market

    • 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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Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

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