Global Smart TV Market to Grow at a CAGR of 9.6% in the Forecast Period of 2024-2032

The global smart TV market is being driven by the rising demand for televisions with advanced features like built-in Wi-Fi and an ethernet port, allowing consumers to browse, share, download, and stream videos, music, and games. The growing internet penetration and rapid advancement in technology are supporting the industry growth.

The Asia Pacific dominates the industry, accounting for a significant share in the global market. Due to rising disposable income and growing technological awareness among consumers, the region is expected to witness the fastest growth rate over the forecast period. In the past few years, the television segment has transformed significantly. In developing regions like India and China, the growing popularity of online shopping platforms is leading to the rise in sales of smart TVs, as such platforms make the latest models readily available to the buyers. According to Amazon India (subsidiary of Amazon, NASDAQ: AMZN), around 80% of televisions sold in the region via its platform in 2020 were smart TVs, indicating that both customers and television manufacturers see the future in online video streaming.

The growing consumer preference for smart TVs to access online video streaming services such as YouTube Premium, Netflix, and Amazon Prime Video, among others, and other advanced features is leading manufacturers to constantly innovate their products’ range, which is aiding the industry growth.

In June 2020, Samsung Electronics Co., Ltd. brought world’s first QLED 8K television to India, which features artificial intelligence (AI), delivering 16 times the resolution of full HD televisions and setting a new benchmark in TV technology.

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Market Breakup by Resolution Type, Screen Size, Screen Type, Technology, Platform, Distribution Channel, Application, and Region:

• By resolution type, the global smart TV industry can be divided into HD TV, Full HD TV, 4K UHD TV, and 8K TV.
• On the basis of screen size, the industry is categorised into below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, and above 65 inches. 
• Based on screen type, the industry can be segmented into flat and curved.
• The different types of technology available in the market include LCD (Liquid Crystal Display), LED (Light Emitting Diode), OLED (Organic Light Emitting Diode), and QLED (Quantum Dot Light Emitting Diode).
• On the basis of platform, the industry is divided into android, iOS, Roku, WebOS, and Tizen OS, among others. 
• The distribution channels are widely categorised as offline and online.
• It finds applications in residential and commercial sectors. 
• Region-wise, the global smart TV market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global smart TV market is being driven by the growing demand for advanced gadgets with increasing consumer awareness regarding technology. 
• Rising disposable incomes and rapid urbanisation, particularly in the emerging economies, is providing further impetus to the industry for its growth. 
• The growing focus of manufacturers to launch products with advanced features is aiding the industry further. 
• The change in consumer preferences, leading to increased expenditure on entertainment, is providing a further boost to the industry.

Key Offerings of the Report:

• The EMR report gives an overview of the global smart TV market for the periods (2018-2023) and (2024-2032). 
• The report offers historical (2018-2023) and forecast (2024-2032) market information for the resolution type, screen size, screen type, technology, platform, distribution channel, application, and regional markets for the global smart TV industry.
• The report also gives the regional historical (2018-2023) and forecast (2024-2032) price trends of smart TV. 
• The global trade data analysis has also been provided in the report by EMR, covering the value and volume of the leading importing and exporting countries.
• It also offers an assessment of the industry based on the Porter’s Five Forces model, along with providing a SWOT analysis.

The major players in the global smart TV market are Samsung Electronics Co., Ltd., LG Electronics, Apple Inc., Panasonic India, Koninklijke Philips N.V., Sony Corporation, TCL, Haier Group Corporation, and Vizio Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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