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 "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.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “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 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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Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

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