Smart TV Market is estimated to grow with a significant CAGR OF 19.80% during the forecast period
Smart TV Market size was valued at USD 254.9
Million in 2020 and expected to expand to USD 1528.55 Million at a compound
annual growth rate (CAGR) of 19.80%. In comparison to traditional
televisions, smart TVs come with more advanced functions and applications.
Leading players are working on establishing their own operating systems to deal
with the severe rivalry from various streaming device suppliers, such as Apple
and Roku. For example, Samsung Electronics Co. Ltd.'s Tizen and LG Electronics'
WebOS allow users to download apps from the store while also allowing them to
access online streaming apps. The latest TV models come with speech recognition
features that allow viewers to change channels without having to click any
buttons on the remote.
The report " Global Smart TV Market By
Resolution ( 4K UHD TV, HDTV, Full HD TV, and 8K TV), By Screen Size (Below 32
inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, and Above 65
inches), By Screen Type ( Flat and Curved), By Distribution Channel (Online
Stores, Single Brand Stores, and Multi Brand Stores), By End User (Home,
Offices, Education Industry, and Other), and By Region (North America, Europe,
Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and
Forecast till 2030’’
Key Highlights:
·
Sony
Electronics Inc. announced pricing and availability for its latest 2020 LED and
OLED television models in April 2020. Sony's CPUs will power the 2020 TV
lineup, which will include TRILUMINOS Display's improved colour and gradation.
The TVs also come with Google Assistant, which lets you use your voice to
access content, control smart devices, receive answers on the screen, and more.
·
LG Electronics
(LG) announced the sale of its 2020 TV range, which includes the GX Gallery
series, true 8K ZX models, and 4K Ultra HD TVs, highlighted by 14 OLED models.
LG is expanding the viewing and gaming experience into new markets, including
Europe and other parts of the world.
Analyst View:
The industry is growing due to a steady increase
in the use of streaming devices, as well as expanding internet penetration.
Furthermore, in recent years, a movement in customer preferences has had a
substantial impact on revenue generating. The increased demand for smart TVs
has paved the path for content producers to enter the lucrative Over the Top
(OTT) industry, which allows companies to deliver original content over the
internet. Moreover, a number of industry companies are partnering with
streaming media player manufacturers in order to broaden their portfolio and
raise their profile. In the near future, all of these factors are expected to
contribute to market expansion.
To know the upcoming trends and insights
prevalent in this market, click the link below:
https://www.prophecymarketinsights.com/market_insight/Global-Smart-TV-Market-By-361
Key Market Insights from the report:
Global Smart TV Market size was valued at USD
254.9 Million in 2020 and expected to expand to USD 1528.55 Million at a
compound annual growth rate (CAGR) of 19.80%. The global smart TV market has
been segmented on the basis of resolution, screen size, screen type,
distribution channel, end-user, and region.
·
Based on
Resolution, Global Smart TV Market is segmented into 4K UHD TV, HDTV, Full HD
TV, and 8K TV.
·
Based on
Screen Size, Global Smart TV Market is segmented into Below 32 inches, 32 to 45
inches, 46 to 55 inches, 56 to 65 inches, and Above 65 inches.
·
Based on
Screen Type, Global Smart TV Market is segmented into flat and curved.
·
Based on
Distribution Channel, Global Smart TV Market is segmented into Online Stores,
Single Brand Stores, and Multi Brand Stores.
·
Based on
End-User, Global Smart TV Market is segmented into Home, Offices, Education
Industry, and Other.
·
By Region, the
Global Smart TV Market is segmented into North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa
Competitive Landscape & their strategies of
Global Smart TV Market:
Key players operating in the global smart TV
market includes Apple Inc., Advanced Micro Devices Inc., Google Haier Group,
Intel Corp., LG Electronics Inc., Microsoft Corporation, Panasonic Corporation,
Samsung, Sony Corporation, and Boxee, Inc.
The market provides detailed information
regarding the industrial base, productivity, strengths, manufacturers, and
recent trends which will help companies enlarge the businesses and promote
financial growth. Furthermore, the report exhibits dynamic factors including
segments, sub-segments, regional marketplaces, competition, dominant key
players, and market forecasts. In addition, the market includes recent
collaborations, mergers, acquisitions, and partnerships along with regulatory
frameworks across different regions impacting the market trajectory. Recent
technological advances and innovations influencing the global market are
included in the report.
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