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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Smart TV Market Size
The global smart TV market size reached around USD 245.51 billion in 2023. The market is projected to grow at a CAGR of 9.6% in the forecast period of 2024-2032 to attain a value of USD 559.58 billion by 2032.
Key Takeaways
- Advancements in display technologies like LED, OLED, and QLED have significantly enhanced the picture quality of flat TVs.
- Android-based smart TVs are gaining prominence as many users are familiar with the Android interface as a result of increased penetration of Android smartphones.
- There is a noticeable shift in consumer preference towards larger screens and smart features that enhance the user experience.
A smart TV comes equipped with integrated internet, built-in operating system, and Web 2.0 to allow users to stream videos, access photos, and play music, among other functionalities. Unlike traditional television sets, smart TVs support a wider range of features as compared to standard TVs. In addition to being able to passively accept cable or satellite or air (OTA) transmission, smart televisions have various forms of hardware and interfaces, along with a GUI TV operating system.
The growing penetration of high-speed internet is one of the major factors driving the smart TV market growth, with online content consumption increasing significantly. Consumers are increasingly favouring on-demand content over traditional broadcast and cable TV, making smart TVs a preferred choice for accessing these services directly. The reduced prices of smart TVs have further made them accessible among the general population. The proliferation of streaming platforms like Netflix, Amazon Prime Video, Hulu, and Disney+ is driving up the demand for smart TVs.
Smart TV Market Report Snapshots
Smart TV Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global smart TV market attained a value of nearly USD 245.51 billion.
The market is projected to grow at a CAGR of 9.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 559.58 billion by 2032.
The major drivers expected to aid the market growth are rising disposable incomes, increasing population, growing penetration of the high-speed internet, reducing prices of smart TVs, and growing technological advancements.
The key market trend guiding the growth of the smart TV market include the increased acceptance of 4K resolution televisions.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
HD TV, Full HD TV, 4K UHD TV, and 8K TV, among others are the major resolution types of the product in the market.
The major screen sizes of the product in the market include below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, and above 65 inches, among others.
The significant screen types of the product in the market are flat and curved.
LCD (Liquid Crystal Display), LED (Light Emitting Diode), OLED (Organic Light Emitting Diode), and QLED (Quantum Dot Light Emitting Diode) are the significant screen technology segments of the product in the market.
Android, Roku, WebOS, Tizen OS, iOS, and MyHomeScreen, among others, are the significant platforms of the product in the market.
Offline and online are the major distribution channels of the product in the market.
Residential and commercial applications are the major application segments of the product in the market.
The major players in the 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.
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