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Smart TV Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

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.

 

 
 

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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. 

Key Market Segmentation:

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:

 

 
 

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  • 4K UHD TV
  • HD TV
  • Full HD TV
  • 8K TV

 

Breakup by Screen Size:

  • Below 32 Inches
  • 32 to 45 Inches
  • 46 to 55 Inches
  • 56 to 65 Inches
  • Above 65 Inches


The 46 to 55 inches segment exhibits a clear dominance in the market.

Breakup by Screen Type:

  • Flat
  • Curved


Flat-screen TVs currently hold the largest market share.

Breakup by Technology:

  • Liquid Crystal Display (LCD)
  • Light Emitting Diode (LED)
  • Organic Light Emitting Diode (OLED)
  • Quantum Dot Light Emitting Diode (QLED)


Amongst these, LED accounts for the majority of the total market share.

Breakup by Platform:

  • Android
  • Roku
  • WebOS
  • Tizen OS
  • iOS
  • MyHomeScreen
  • Others


At present, Android dominates the market, holding the largest market share.

Breakup by Distribution Channel:

  • Offline
  • Online


The offline segment represents the most popular distribution channel.

Breakup by Application:

  • Residential
  • Commercial


The residential sector accounts for the majority of the global market share.

Regional Insights:

 

 
 

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  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America


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:

  • 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.
  • Westinghouse Electric Corporation

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Smart TV Market
    5.1    Market Overview
    5.2    Market Performance
   5.3    Impact of COVID-19
    5.4    Market Breakup by Resolution Type
    5.5    Market Breakup by Screen Size 
    5.6    Market Breakup by Screen Type
    5.7    Market Breakup by Technology
    5.8    Market Breakup by Platform
    5.9    Market Breakup by Distribution Channel
    5.10    Market Breakup by Application
    5.11    Market Breakup by Region
    5.12    Market Forecast
    5.13    SWOT Analysis
        5.13.1    Overview
        5.13.2    Strengths
        5.13.3    Weaknesses
        5.13.4    Opportunities
        5.13.5    Threats
    5.14    Value Chain Analysis
        5.14.1    Overview
        5.14.2    Research and Development
        5.14.3    Raw Material Procurement
        5.14.4    Manufacturing
        5.14.5    Marketing
        5.14.6    Distribution
        5.14.7    Exports
        5.14.8    End-User
    5.15    Porters Five Forces Analysis
        5.15.1    Overview
        5.15.2    Bargaining Power of Buyers
        5.15.3    Bargaining Power of Suppliers
        5.15.4    Degree of Competition
        5.15.5    Threat of New Entrants
        5.15.6    Threat of Substitutes
    5.16    Price Analysis
6   Market Breakup by Resolution Type 
    6.1    4K UHD TV 
    6.2    HD TV 
    6.3    Full HD TV 
    6.4    8K TV 
7   Market Breakup by Screen Size
    7.1    Below 32 Inches
    7.2    32 to 45 Inches
    7.3    46 to 55 Inches
    7.4    56 to 65 Inches
    7.5    Above 65 Inches
8   Market Breakup by Screen Type
    8.1    Flat
    8.2    Curved 
9   Market Breakup by Technology
    9.1    LCD (Liquid Crystal Display)
    9.2    LED (Light Emitting Diode) 
    9.3    OLED (Organic Light Emitting Diode) 
    9.4    QLED (Quantum Dot Light Emitting Diode) 
10   Market Breakup by Platform
    10.1    Android 
    10.2    Roku 
    10.3    WebOS  
    10.4    Tizen OS 
    10.5    iOS 
    10.6    MyHomeScreen
    10.7    Others
11   Market Breakup by Distribution Channel 
    11.1    Offline
    11.2    Online
12   Market Breakup by Application
    12.1    Residential
    12.2    Commercial
13   Market Breakup by Region
    13.1    Asia Pacific
    13.2    Europe
    13.3    North America
    13.4    Middle East and Africa
    13.5    Latin America
14   Smart TV Manufacturing Process
    14.1    Product Overview
    14.2    Raw Material Requirements
    14.3    Manufacturing Process
    14.4    Key Success and Risk Factors
15   Competitive Landscape
    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1   Apple Inc. 
        15.3.2   Haier Group Corporation 
        15.3.3   Hisense Group Co. Ltd
        15.3.4   Hitachi Ltd 
        15.3.5   Insignia Systems Inc.  
        15.3.6   Koninklijke Philips NV
        15.3.7   LG Electronics Inc. 
        15.3.8   Panasonic Corporation
        15.3.9    Samsung Electronics Co. 
        15.3.10   Sony Corporation  
        15.3.11   TCL Corporation
        15.3.12   Vizio Inc.  
        15.3.13   Westinghouse Electric Corporation  

 

List of Figures

Figure 1: Global: Smart TV Market: Major Drivers and Challenges
Figure 2: Global: Smart TV Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Smart TV Market: Breakup by Resolution Type (in %), 2020
Figure 4: Global: Smart TV Market: Breakup by Screen Size (in %), 2020
Figure 5: Global: Smart TV Market: Breakup by Screen Type (in %), 2020
Figure 6: Global: Smart TV Market: Breakup by Technology (in %), 2020
Figure 7: Global: Smart TV Market: Breakup by Platform (in %), 2020
Figure 8: Global: Smart TV Market: Breakup by Distribution Channel (in %), 2020
Figure 9: Global: Smart TV Market: Breakup by Application (in %), 2020
Figure 10: Global: Smart TV Market: Breakup by Region (in %), 2020
Figure 11: Global: Smart TV Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 12: Global: Smart TV Industry: SWOT Analysis
Figure 13: Global: Smart TV Industry: Value Chain Analysis
Figure 14: Global: Smart TV Industry: Porter’s Five Forces Analysis
Figure 15: Global: Smart TV (4K UHD TV) Market: Sales Value (in Million US$), 2015-2020
Figure 16: Global: Smart TV (HD TV) Market: Sales Value (in Million US$), 2015-2020
Figure 17: Global: Smart TV (Full HD TV) Market: Sales Value (in Million US$), 2015-2020
Figure 18: Global: Smart TV (8K TV) Market: Sales Value (in Million US$), 2015-2020
Figure 19: Global: Smart TV (Below 32 Inches) Market: Sales Value (in Million US$), 2015-2020
Figure 20: Global: Smart TV (32 to 45 Inches) Market: Sales Value (in Million US$), 2015-2020
Figure 21: Global: Smart TV (46 to 55 Inches) Market: Sales Value (in Million US$), 2015-2020
Figure 22: Global: Smart TV (56 to 65 Inches) Market: Sales Value (in Million US$), 2015-2020
Figure 23: Global: Smart TV (Above 65 Inches) Market: Sales Value (in Million US$), 2015-2020
Figure 24: Global: Smart TV (Flat) Market: Sales Value (in Million US$), 2015-2020
Figure 25: Global: Smart TV (Curved) Market: Sales Value (in Million US$), 2015-2020
Figure 26: Global: Smart TV (LCD) Market: Sales Value (in Million US$), 2015-2020
Figure 27: Global: Smart TV (LED) Market: Sales Value (in Million US$), 2015-2020
Figure 28: Global: Smart TV (OLED) Market: Sales Value (in Million US$), 2015-2020
Figure 29: Global: Smart TV (QLED) Market: Sales Value (in Million US$), 2015-2020
Figure 30: Global: Smart TV (Android) Market: Sales Value (in Million US$), 2015-2020
Figure 31: Global: Smart TV (Roku) Market: Sales Value (in Million US$), 2015-2020
Figure 32: Global: Smart TV (WebOS) Market: Sales Value (in Million US$), 2015-2020
Figure 33: Global: Smart TV (Tizen OS) Market: Sales Value (in Million US$), 2015-2020
Figure 34: Global: Smart TV (iOS) Market: Sales Value (in Million US$), 2015-2020
Figure 35: Global: Smart TV (MyHomeScreen) Market: Sales Value (in Million US$), 2015-2020
Figure 36: Global: Smart TV (Other Platforms) Market: Sales Value (in Million US$), 2015-2020
Figure 37: Global: Smart TV Market: Offline Sales (in Million US$), 2015-2020
Figure 38: Global: Smart TV Market: Online Sales (in Million US$), 2015-2020
Figure 39: Global: Smart TV (Residential) Market: Sales Value (in Million US$), 2015-2020
Figure 40: Global: Smart TV (Commercial) Market: Sales Value (in Million US$), 2015-2020
Figure 41: Asia Pacific: Smart TV Market: Sales Value (in Million US$), 2015-2020
Figure 42: Europe: Smart TV Market: Sales Value (in Million US$), 2015-2020
Figure 43: North America: Smart TV Market: Sales Value (in Million US$), 2015-2020
Figure 44: Middle East and Africa: Smart TV Market: Sales Value (in Million US$), 2015-2020
Figure 45: Latin America: Smart TV Market: Sales Value (in Million US$), 2015-2020
Figure 46: Smart TV Manufacturing: Detailed Process Flow

 

List of Tables

Table 1: Global: Smart TV Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Smart TV Market: Breakup by Resolution Type (in Million US$), 2015-2020
Table 3: Global: Smart TV Market: Breakup by Screen Size (in Million US$), 2015-2020
Table 4: Global: Smart TV Market: Breakup by Screen Type (in Million US$), 2015-2020
Table 5: Global: Smart TV Market: Breakup by Technology (in Million US$), 2015-2020
Table 6: Global: Smart TV Market: Breakup by Platform (in Million US$), 2015-2020
Table 7: Global: Smart TV Market: Breakup by Distribution Channel (in Million US$), 2015-2020
Table 8: Global: Smart TV Market: Breakup by Application (in Million US$), 2015-2020
Table 9: Global: Smart TV Market: Breakup by Region (in Million US$), 2015-2020
Table 10: Global: Smart TV Market: Competitive Structure
Table 11: Global: Smart TV Market: Key Players

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Key Question Answered in this Report

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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