The global smart TV market reached a value of US$ 183.6 Billion in 2019. 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. Owing to these factors, IMARC Group expects the market value to reach US$ 321.6 Billion by 2025, at a CAGR of 8.8% during the forecast period (2020-2025).
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:
Key Questions Answered in This Report:
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