The latest report by IMARC Group, titled “Smart TV Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global smart TV market reached a value of US$ 239 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 358.6 Billion by 2027, exhibiting at a CAGR of 6.2% during 2022-2027.
Smart TV Market Overview:
Smart televisions (TVs), also known as connected TVs, are next-generation devices incorporated with internet connectivity and web 2.0 features. They have various features, including a graphical user interface (GUI), the capability of connecting with other wireless devices, on-demand content, an operating system, built-in Wi-Fi that eliminates the need for a separate set-top box, access to streaming services, an ethernet connection, etc. Smart TVs are available in several types, such as organic light-emitting diode (OLED), liquid crystal display (LCD), light-emitting diode (LED), quantum dot light-emitting diode (QLED), etc. They offer the facilities of searching, browsing, sharing, chatting, and downloading content seamlessly.
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Global Smart TV Market Trends:
The escalating popularity of over-the-top (OTT) platforms that distribute original content via the internet is among the primary factors driving the smart TV market. In line with this, the elevating demand for online video streaming channels, including YouTube Premium, Netflix, Hulu, Amazon Prime Video, etc., is further augmenting the market growth. Apart from this, the rising integration of smart TVs with various input devices, including mouses, smartphones, keyboards, tablets, etc., for navigation, enhancing usability, enabling text entry, and internet browsing, is also catalyzing the global market.
Moreover, the increasing investments in R&D activities to launch product variants with pixel-less imagery, convenient access, artificial intelligence (AI) upscaling, low installation costs, etc., are positively influencing the product demand. Furthermore, the introduction of 4K resolution with the latest technologies is expected to bolster the smart TV market in the coming years.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- LG Electronics, Inc.
- Samsung Electronics Co. Ltd.
- Sony Corporation
- Panasonic Corporation
- Vizio Inc.
- Apple Inc.
- Hisense Group Co. Ltd.
- Koninklijke Philips N.V.
- TCL Corporation
- Insignia Systems, Inc.
- Haier Group Corporation
- Hitachi, Ltd.
- Westinghouse Electric Corporation
Key Market Segmentation Breakup by:
- 4K UHD TV
- HD TV
- Full HD TV
- 8K TV
- Below 32 Inches
- 32 to 45 Inches
- 46 to 55 Inches
- 56 to 65 Inches
- Above 65 Inches
- Liquid Crystal Display (LCD)
- Light Emitting Diode (LED)
- Organic Light Emitting Diode (OLED)
- Quantum Dot Light Emitting Diode (QLED)
- Tizen OS
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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