The global smart TV market reached a value of US$ 202.1 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during the next five years. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Smart televisions (TVs), also known as connected TVs, are integrated with internet connectivity, which assists in providing a wide range of features, such as on-demand content from different applications, access to streaming services, and the capability of connecting with other wireless devices. They can also receive cable, satellite or over the air (OTA) transmission passively. Besides this, smart TVs have extra hardware and connections, along with a TV operating system and a graphical user interface (GUI). These adaptations help viewers in accessing and controlling features of the connected devices and streaming content from internet video services.
Owing to rapid urbanization, inflating income levels and the easy availability of high-speed internet, there is an increase in the consumers’ spending on online video streaming channels, such as YouTube Premium, Netflix, Hulu, Vimeo and Amazon Prime Video. In line with this, as smart TVs can wirelessly connect to input devices, such as keyboards, mouses, smartphones and tablets, for enhancing usability and enabling text entry, navigation and internet browsing, their demand is increasing across the globe. Furthermore, some of the leading smartphone manufacturers, such as Xiaomi, Micromax and OnePlus, are taking a notable interest in smart TVs. As a result, they are focusing on entering the smart TV market, which has been dominated by electronics giants like Sony and Samsung for several years. Apart from this, the adoption of 4K resolution TV sets, in confluence with technological advancements in the industry are also anticipated to bolster the market growth in the upcoming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart TV market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, resolution type, screen size, screen type, technology, platform, applicatiom and distribution channel.
Breakup by Resolution Type:
Breakup by Screen Size:
The 46 to 55 inches segment exhibits a clear dominance in the market.
Breakup by Screen Type:
Flat-screen TVs currently hold the largest market share.
Breakup by Technology:
Amongst these, LED accounts for the majority of the total market share.
Breakup by Platform:
At present, Android dominates the market, holding the largest market share.
Breakup by Distribution Channel:
The offline segment represents the most popular distribution channel.
Breakup by Application:
The residential sector accounts for the majority of the global market share.
On the geographical front, Asia Pacific enjoys the leading position in the market.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:
The global Smart TV market size was valued at US$ 202.1 Billion in 2020.
According to the estimates by IMARC Group, the global Smart TV market is expected to witness moderate growth during 2021-2026.
A significant increase in the adoption of online video streaming channels, such as YouTube Premium, Netflix, and Amazon Prime Video, represents one of the key drivers for the global Smart TV market.
The emergence of 4K resolution TV sets, coupled with the rising integration of numerous advanced technologies, such as IoT, AI, predictive analytics, etc., represent some of the key trends in the global Smart TV market.
Sudden outbreak of the COVID-19 pandemic had led to the increase in the demand of smart TV sets for indoor entertainment purposes due to the implementation of stringent lockdown regulations across several nations.
On the basis of the screen size, the market has been bifurcated into below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, and above 65 Inches. Currently, 46 to 55 inches sized screen accounts for the majority of the market share.
On the basis of the screen type, the market has been divided into flat and curved. Among these, flat screen TV represents the largest segment.
On the basis of the technology, the market has been segmented into liquid crystal display (LCD), light emitting diode (LED), organic light emitting diode (OLED), and quantum dot light emitting diode (QLED). At present, light emitting diode (LED) exhibits a clear dominance in the market.
On the basis of the distribution channel, the market has been segregated into offline and online. Currently, offline channel exhibits a clear dominance in the market.
On the basis of the platform, the market has been divided into Android, Roku, WebOS, Tizen OS, iOS, MyHomeScreen, and others. At present, Android holds the largest segment.
On the basis of the application, the market has been segmented into residential and commercial. At present, the residential sector represents the largest market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
The key companies in the global Smart TV market are LG Electronics, Inc., Samsung Electronics Co. Ltd., Sony Corporation, Panasonic Corporation, Vizio Inc., Apple Inc., Hisense Group Co. Ltd., Koninklijke Philips NV, TCL Corporation, Insignia Systems Inc., Haier Group Corporation, Hitachi Ltd., and Westinghouse Electric Corporation.
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