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COVID-19
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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.
Regional Insights:
On the geographical front, Asia Pacific enjoys the leading position in the market.
Competitive Landscape:
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 was valued at US$ 202.1 Billion in 2020.
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 factors driving the global smart TV market.
Sudden outbreak of the COVID-19 pandemic has 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.
Based on the screen size, the global smart TV 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 total market share.
Based on the screen type, the global smart TV market can be divided into flat and curved. Among these, flat screen TV currently represents the largest segment.
Based on the technology, the global smart TV market has been categorized into liquid crystal display (LCD), light emitting diode (LED), organic light emitting diode (OLED), and quantum dot light emitting diode (QLED), where light emitting diode (LED) exhibits a clear dominance in the market.
Based on the distribution channel, the global smart TV market can be segregated into offline and online. Currently, offline channel accounts for the biggest market share.
Based on the platform, the global smart TV market has been segmented into Android, Roku, WebOS, Tizen OS, iOS, MyHomeScreen, and others, where Android currently holds the largest segment.
Based on the application, the global smart TV market can be divided segmented into residential and commercial. Among these, the residential sector represents the largest market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global smart TV market include 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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