Global Smart TV Market Insights Forecasts to 2030

• The Smart TV Market Size was valued at USD 190 billion in 2021.
• The Worldwide Market Share is growing at a CAGR of 11% from 2022 to 2030
• The Global Smart TV Market Size is expected to reach USD 450 billion by 2030
• Asia Pacific is expected to grow the fastest during the forecast period

Get more details on this report -

Request Free Sample PDF

The Global Smart TV Market Size is expected to reach USD 450 billion by 2030, at a CAGR of 11% during the forecast period 2022 to 2030. With the increased popularity of material available on over-the-top platforms, smart TVs have become more popular. More users subscribe to OTT platforms since it's convenient to consume content whenever and wherever.

 

Market Overview

Smart TVs have operating systems, which are pieces of software that let users engage with services like downloading apps, streaming videos, and buying content on the TV, among others. To compete with the widely used operating systems, manufacturers are releasing their own operating systems for the smart TVs they produce. As the fourth industry generation gets underway, connected TV manufacturers are vying for the newest advancements in user interface, content aggregation, and application development. One example is the development of smart TVs, which have an operating system that can stream videos and music, run apps and widgets, and run apps. Smart TVs provide a wide range of sophisticated computing capabilities and connection, all set with unified internet capabilities. Consumers may currently search, talk, explore, share, update, and download material on smart TVs. Over the next five years, experience design is anticipated to receive more attention from smart TV manufacturers.

 

Report Coverage

This research report categorizes the market for Smart TV market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Smart TV market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Smart TV market.

 

Driving Factors

To meet the needs of every sort of viewer, a number of TV content producers are constantly releasing new material in a variety of genres. This element is projected to aid in the industry's expansion. To establish an exclusive partnership, the content producers are collaborating with several OTT platforms. Leading streaming services like Netflix, Disney Hotstar, Amazon Prime, and others have created tailored applications for smart TVs to offer their streaming services, continuing this trend. The demand for smart TVs can be ascribed to the sophisticated capabilities they provide, such screen mirroring/sharing, voice control, and video calling among others that make the user experience more alluring. Additionally, businesses draw clients by making reasonably priced goods and setting competitive prices for them. Based on features and quality, top manufacturers make smart TVs from the basic level to the high end. High-end smart TVs are made with premium display panels and components, which dramatically raises the cost of the final product. On the other side, inexpensive smart TVs encourage market expansion by making the product available to a larger consumer base.

 

COVID 19 Impact

All consumers now lead significantly altered lives due to the COVID-19 epidemic. Orders to stay put and laws requiring work from home have increased in-home television consumption to previously unheard-of heights, with video streaming services like Netflix and Amazon Prime Video reporting a worldwide increase in watchers. The market is expected to expand as a result of the significant emphasis on online content delivery and the progressive relaxation of COVID restrictions.

 

Market Segmentation

• In 2021, the full HD TV segment is dominating the market with the largest market share.

On the basis of resolution, the global Smart TV market is segmented into 4K UHD TV, HDTV, Full HD TV. Among these, the full HD TV segment is dominating the market with the largest market share. The 1920 x 1080 pixel resolution offered by full HD TVs has long been considered the industry standard. This resolution is widely used because it is supported by a lot of content. This resolution allows for immersive and high-quality streaming of information and live sporting events without using a lot of internet data.

 

• In 2021, 46 to 55 inches segment holds the highest market share over the forecast period.

Based on the screen size, the global Smart TV market is segmented into Light, Below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, Above 65 inches. Among these, 46 to 55 inches segment holds the highest market share over the forecast period because more people are buying larger TVs to enjoy movies in a theater-like setting. The segment demand is related to screen size and customer value in terms of price. Because full HD and 4K smart TV prices are falling and demand is rising, the 46 to 55 inches segment is appealing to viewers. Customers can buy larger TVs thanks to convenient financial payment options like EMIs.

 

• In 2021, the Flat segment is witnessing the significant market growth over the forecast period.

On the basis of screen shape, the global Smart TV market is segmented into Flat, Curved. Among these, the flat segment is witnessing the significant market growth over the forecast period because it is more readily produced and the industry standard. Since flat-screen smart TVs are simpler to instal and put on walls, consumers prefer them. Because flat-screen smart TVs are significantly less expensive than curved ones, there is a high demand for them. Compared to curved screen forms, flat-panel TVs are simpler to instal or replace as needed.

 

• In 2021, the Android TV segment is dominating the market over the forecast period.

Based on the Operating System, the global Smart TV market is segmented into Android TV, Tizen, WebOS, Roku, Other. Among these, the Android TV segment is dominating the market over the forecast period. The Play Store's availability for application downloads is responsible for the segment's dominance. Voice search and information aggregation from various media apps and services are additional features. Additionally, the Android TV operating system makes it simple to integrate new Google services like Knowledge Graph, Cast, and Assistant.

 

 

Regional Segment Analysis of the Smart TV Market

 

Get more details on this report -

Request Free Sample PDF

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia Pacific is witnessing the fastest market growth over the forecast period.

Asia Pacific is witnessing the sudden surge in past few years. Due to the increasing demand for smart TVs from consumers and the developing economies of India, China, and Japan, it is anticipated that this market would maintain its dominance during the projection period. The region's sustained demand has been significantly influenced by consumers' rising net disposable income. The expansion is partly due to the region's increasing ubiquity of OTT VOD services like Amazon Prime Video, Netflix, and HOOQ. Additional catalysts for demand growth include HD films, HD set-top boxes, and games that are readily available for these devices.

 

Recent Developments

• In April 2022, The Neo QLED 8K smart TV line was introduced by Samsung Electronics Co. Televisions with 65-inch and 85-inch screens were introduced around this time. Additionally, Samsung Electronics Co. Ltd. undertakes marketing campaigns that let customers buy TVs for less money, which boosts demand for the company's goods.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global Smart TV market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• LG Electronics Inc.
• Samsung Electronics Co. Ltd.
• Sony Corporation
• VIZIO Inc.
• Videocon Industries Ltd.
• Sansui Electric Co. Ltd.
• Toshiba Corporation
• Haier Electronics Group Co., Ltd.
• Hisense International
• Intex Technologies
• Koninklijke Philips N.V
• Panasonic Corporation
• TCL Electronics Holdings Limited

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Smart TV market based on the below-mentioned segments:

 

Smart TV Market, By Resolution

• 4K UHD TV
• HDTV
• Full HD TV

 

Smart TV Market, By Screen Size

• Light
• Below 32 inches
• 32 to 45 inches
• 46 to 55 inches
• 56 to 65 inches
• Above 65 inches

 

Smart TV Market, By Screen Shape

• Flat
• Curved

 

Smart TV Market, By Operating System

• Android TV
• Tizen
• WebOS
• Roku
• Other

 

Smart TV Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa