Global Television Market Report and Forecast 2024-2032

Global Television Market Size

The global television market value reached approximately USD 94.8 billion in 2023. The market is projected to grow at a CAGR of 3.10% between 2024 and 2032, reaching a value of around USD 125.19 billion by 2032.

Global Television Market Outlook

• The Australian Bureau of Statistics reported film and video production businesses had the highest total income of $4,575.3 million in Australia.

• India's Production-Linked Incentive scheme aims to boost domestic production, attracting USD 830 million by June 2023, benefiting TV production.

• A Samsung survey in Southeast Asia and Oceania found that around 30% of consumers prefer TVs larger than 53 inches.

Global Television Market Growth

The burgeoning popularity of streaming platforms, increased consumer purchasing power, and high demand for home entertainment are some crucial market drivers. Further, the demand for high- and is also expected to boost their sales worldwide, boosting the television market revenue.

Moreover, several smart TV manufacturers are harnessing the power of AI to provide personalised advertisements to users as well as voice recognition features. For instance, LG launched a new lineup of smart TVs powered by AI technology, consisting of 55 innovative models offered in a wide range of sizes, starting from 43 inches, and going up to an impressive 97 inches.

The television demand for higher resolution TVs is also growing, as 4K technology becomes more popular and 8K starts to gain traction, due to the increasing availability of 4K content through streaming services.

Global Television Industry Outlook

Despite the increasing popularity of smartphones and tablets, television remains a dominant medium for entertainment and information in households worldwide, enhancing the growth of the television market.

According to the U.S. Census Bureau's American Community Survey, in 2022, approximately 121 million households in the United States had at least one television, representing about 97% of all households. In India, the Broadcast Audience Research Council (BARC) data showed that TV households grew from 197 million in 2021 to 202 million in 2022, accounting for about 90% of all households.

In Germany, data from the Federal Statistical Office of Germany (Destatis) revealed that around 92% of households have flat-screen television sets in 2022, representing about 96% of all households thus increasing the growth of the television industry.

Similarly, The Australian Bureau of Statistics (ABS) reported that in 2022, on average, the households have 2.0 TVs, 1.3 TVs have an external antenna, and 1.4 are connected to the internet.

Moreover, the television demand in countries such as the United States and India is witnessing a significant surge.

The television market dynamics and trends are influenced by the growing viewership. According to Broadcast Audience Research Council (BARC) India, television viewership has experienced a surge year-to-date in FY24, with an increase of 53 minutes per week compared to the previous year.

Similarly, as per the American Time Use Survey (2022), With nearly 80 per cent of the population watching TV on a given day and accounting for more than half of all the time Americans spend on leisure and sports, watching TV is the choice leisure activity for many Americans.

The BARC data reveals that TV consumption has grown by 5.1% (YTD) in FY24, highlighting a notable rise in engagement across various age groups, including a 7.1% increase among viewers aged 15-21 and a 7.2% growth in the 22-30 age demographic. Currently, TV penetration stands at an impressive 70%, solidifying its position as the largest reach medium.

Simultaneously in the USA, the U.S. civilian noninstitutional population ages 15 and older spent an average of 2 hours 79 minutes per day watching TV. This amounted to more than half (53.65 per cent) of the total time per day they spent in leisure and sports activities.

Innovations in TV technology, such as 4K, OLED, and smart features are driving the television market growth.

• A wide variety of high-quality content, including streaming services and original programming, attracts viewers and boosts TV sales. 

• Increasing disposable incomes enable consumers to invest in premium television sets, enhancing the overall market growth.

Streaming services are rapidly gaining market share, challenging traditional television networks to retain viewership.

• High production costs for original content strain budgets, making it difficult for networks to maintain profitability and attract audiences. 

• Shifting viewer habits towards on-demand and mobile content requires television networks to adapt their programming and delivery strategies.

Television market opportunities are driven by the smart-tv’s.

• The rollout of 5G networks enhances streaming quality and supports higher-resolution formats, fostering mobile viewing and new interactive TV experiences. 

• Artificial intelligence recommends content based on viewer preferences, improving user experience and content discovery across platforms.

Economic downturns and fluctuations in disposable incomes in key markets affect consumer spending on discretionary items like televisions.

• Rapid changes in display technology (e.g., OLED, QLED) require continuous investment, posing cost challenges for manufacturers and hindering market expansion.

• Declining replacement cycles and market saturation in developed regions like North America and Europe limit new sales growth.

Price Competition in the Industry

• Intense price competition results from oversupply and stagnant demand. 

• Prices reflect unique value propositions that distinguish brands effectively. 

• Competitors adjust prices based on varying cost efficiencies and structures, impacting the television industry revenue. 

• Price wars can alter brand perception, affecting long-term loyalty.

Market Competition in the Global Television Market

The global television market is fiercely competitive, with key players like Samsung Electronics, LG Corp., and Sony Group leading the charge with innovations in display technology and smart TV functionalities. Companies such as Panasonic, Toshiba, and Hisense focus on enhancing user experiences through intuitive interfaces and AI integration. Emerging players like Vizio and KONKA are disrupting the market with affordable yet technologically advanced TV solutions. Haier and Sharp prioritise sustainability and eco-friendly practices in their manufacturing processes.

Key Players in the Global Television Market and Their Initiatives

Samsung Electronics Co., Ltd.:

• Innovates with cutting-edge display technology such as QLED and MicroLED. 

• Focuses on smart TV capabilities, integrating AI and IoT for enhanced user experience boosting the growth of the television market. 

• Expand global market presence through extensive marketing and distribution networks.

LG Corp.:

• Leads in OLED technology, offering superior picture quality and energy efficiency. 

• Emphasizes AI-powered features like voice control and smart home integration. 

• Expand into premium markets with luxury OLED and NanoCell TV series.

Panasonic Holdings Corp.:

• Innovates with HDR technology and high-quality image processing engines. 

• Focuses on enhancing user experience with intuitive interface and voice command features. 

• Expand market reach through strategic partnerships and alliances.

Sony Group Corp.:

• Pioneers in 4K and 8K HDR TVs, emphasizing cinematic experience at home. 

• The television demand growth is further driven by the Integration of smart TV functionalities with Android TV platform and PlayStation integration. 

• Commits to reducing environmental impact with energy-efficient designs and recycling programs.

Toshiba Corporation:

• Revitalises brand with advanced Quantum Dot and OLED display technologies. 

• Focuses on affordability and value with competitive pricing strategies. 

• Invests in product innovation and quality assurance to enhance customer satisfaction.

Global Television Industry Segmentation

“Global Television Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Smart TV 

• LCD, Plasma, and LED TVs 

• Cathode-Ray Tube (CRT) and Rear-Projection TVs 

Market Breakup by Distribution Channel

• Offline

• Online

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Television Market Share

Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The APAC region accounts for a substantial market share owing to the prominent presence of several HD and UHD providers in the market, the rise of the middle-class population, and the increased adoption of smart TVs boosting the television market growth.

Competitive Landscape

The market players are introducing TV products with diverse size ranges to stay ahead of the competition.

• Samsung Electronics Co., Ltd.

• LG Corp.

• Panasonic Holdings Corp.

• Sony Group Corp.

• Toshiba Corporation

• Hisense International Co., Ltd.

• Haier Smart Home Co. Ltd.

• KONKA Group Co. Ltd.

• Sansui Electric Co., Ltd.

• Vizio Holding Corp.

• Hon. Hai Precision Industry Co., Ltd. (Sharp Corp.)

Key Highlights of the Report

Television Market Report Snapshots

Television Market Size

Television Market Growth

Television Market Share

Television Companies