The North America smart TV market reached a value of US$ 33.2 Billion in 2018. A smart TV is a type of television that offers numerous features when connected to the internet. These include on-demand content from various apps, access to streaming services like Netflix, and the capability to communicate with other wireless devices, such as smartphones and tablets. Besides having the ability to passively receive cable and satellite or over-the-air (OTA) transmission, smart TVs have extra hardware and connection types, along with a TV operating system with a GUI. These adaptations enable viewers to access and control features of connected devices and stream content from internet video platforms. Smart TVs can wirelessly connect to various input devices to enhance usability and control. For instance, smartphones, tablets, and wireless keyboards and mouse can be connected to these TVs for enabling text entry, navigation and internet browsing.
The North America smart TV market is currently being driven by several factors. With the rising penetration of high-speed internet, the viewership of online content has increased significantly over the last few years. Moreover, growing electronics industry has been incorporating various technological innovations, such as voice control and artificial intelligence, with smart devices like smart TVs, thus inducing the demand. Apart from this, rapid digitalization across the region has resulted in the replacement of traditional TV sets with digital and smart alternatives, thereby driving the market growth. Additionally, rising per capita incomes of consumers coupled with the easy availability of products in the region has fueled the demand for smart TVs. Looking forward, IMARC Group expects the market to reach a value of US$ 63.0 Billion by 2024, registering a CAGR of 10.2% during 2019-2024.
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