Smart TV Market: By Screen Type (Flat & Curved), By Display Type (LCD, LED, Plasma, Organic Light Emitting Diode & QLED), By Resolution Type (UHD TV, HDTV, Full HD & TV 8K), by screen size (32-inch and below, 32+ to 55-inch, 55+ to 65-inch, and above 65-inch), by application (residential and commercial), and by region – device size Global Industry, Growth, Trend, Opportunity, and Forecast (2021-2027)
The Smart TV Market report covers an in-depth analysis of market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by major market players operating in the global market . It involves an in-depth analysis of factors influencing the global market and market statistics indicating market share/growth analysis by region and segment. The report study will offer one of the most comprehensive analyzes of the market, capturing all aspects of the Smart TV industry.
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Smart TV Industry Outlook
The global smart TV market size was valued at USD 190.2 billion in 2020 and is projected to grow at a CAGR of 14.2% during 2021-2027. Television has been the main source of entertainment. There is a growing preference for smart offices and smart homes with the advancement of technology, where smart TV is an important part of it. The smart TV serves its original entertainment purpose and functions as a DVD player, music player and internet-based applications, i.e. it transforms into a computer such as streaming videos from online streaming platforms such as Amazon TV, Netflix, Hulu and Google Movies. . Screen size, display type and resolution also affect the demand and sales of smart TVs integrated with smart features.
The wide availability of diverse content for consumers to see smart TV has been the clinical driver behind the growth of the global smart TV market. In addition, smart TV provides the consumer with complete home entertainment. It has everything we imagine on TV. It can be called an extended version of the smartphone or an improved version. These applications previously developed for smartphones are now seeking their market in the category of smart televisions. Android, a major player in the smartphone industry, is now gaining good visibility in the smart TV market; the only difference is that a large audience on an individual uses smartphones compared to smart TV.
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Impact of COVID-19 on Smart TV Market:
A comprehensive analysis is conducted on the Smart TV industry presence in different regions and countries, major companies market share, growth rate, and price analysis. Severe disruptions caused by COVID-19, stimulus measures, innovations, new technologies and emerging sectors are assessed. The COVID-19 pandemic has dramatically affected the lifestyles and routines of all consumers. Home video consumption has been driven to unprecedented levels by shelter-in-place orders and work-from-home mandates.
However, in terms of supply, due to the border closure, the market is increasingly affected, thus affecting the entire global smart TV supply chain. For example, TCL’s panel manufacturing subsidiary CSOT is the epicenter of the COVID-19 outbreak in Wuhan. TCL is struggling to operate the panel manufacturing plant and its supply to the smart TV manufacturing unit.
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The report describes the Smart TV market study based on Screen Type, Display Type, Resolution Type, Screen Size and Application.
On the basis of screen type, the smart TV market is segmented into –
On the basis of display type, the smart TV market is segmented into –
- LCD (Liquid Crystal Display)
- LEDs (light emitting diodes)
- Organic Light Emitting Diode
- QLED (Quantum DotLED)
On the basis of Resolution Type, the Smart TV Market is segmented into –
- UHD TV
- Full-HD TV
- 8K TV
On the basis of screen size, the smart TV market is segmented into –
- 32 inches and under
- 32+ to 55 inches
- 55+ to 65 inches
- Above 65 inches
Based on Application, the smart TV market is segmented into –
Smart TV Market: Regional Outlook
Geographically, the smart TV market is segmented into North America, Asia-Pacific, Europe, South America, and Middle East and Africa (MEA). In 2019, Asia-Pacific was expected to dominate the smart TV market. It is expected to continue to dominate over the forecast period, driven by growing demand from end users and emerging economies of India, China, and Japan for smart TVs. Growth in consumer net disposable income has been a significant factor in the region’s continued demand. The growth is also attributed to the rising popularity of OTT VOD platforms in this region, such as Amazon Prime Video, Netflix, HOOQ and others. The availability of supporting content for these devices, such as HD videos, HD set-top boxes and games, has also acted as a demand-generating catalyst.
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Competitive landscape –
The major smart TV manufacturers in the global market are Samsung, Sony Corporation, LG Electronics, Google, Panasonic, and Sharp Corporation.
Other smart TV manufacturers include XIAOMI, Kodak, TCL and others.
- April 2020 – Sony Electronics Inc. has revealed the price and availability of the latest 2020 LED and OLED TV models announced at CES 2020 earlier. Sony’s processors will power the 2020 TV lineup with the advanced color and dimming of the TRILUMINOS display. The TVs also come with Google Assistant to help you quickly access entertainment, control smart devices, get on-screen responses and use your voice more.
- March 2020 – LG Electronics has announced the sale of its 2020 TV lineup, consisting of 14 OLED models, including the GX Gallery series, 8K ZX models and 4K Ultra HD TVs.
The Smart TV market report provides an in-depth analysis of macroeconomic factors and market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of industry/regional outlook with market players in the respective segment and region/country. The information concluded in the report includes contributions from industry participants and industry experts across the value chain.