Global smart TV industry to 2026
DUBLIN, June 4, 2021 / PRNewswire / – The “Global Smart TV Market 2020-2026” report was added to ResearchAndMarkets.com offer.
The global smart TV market is expected to grow at a significant CAGR of 17.8% during the forecast period (2021-2027). Smart TV is one of the commonly used household and commercial devices that offers internet connectivity capability and built-in applications to connect to different platforms to provide extraordinary experience to its viewers. The growing demand for superior picture quality, the desire of customers to have a cinema feel at home, the growing popularity of digital signage to display specific information to a wide range of viewers are some of the factors. keys to boosting TV market growth.
The increasing penetration of the Internet is acting as a key motivator for the adoption of smart TVs across the world. Indeed, the Internet connection is the basic condition and above all for the operation of the advanced functionalities of the smart television. According to the ITU (International Telecommunication Union), an estimated 4.1 billion people used the Internet in 2019. Almost 53% of the total population uses the Internet. Hence, the presence of internet connected viewers along with the growing demand for on-demand online streaming channels and programs through service providers such as Netflix and Amazon prime are further expected to foster the growth of the global television market. smart.
However, there are some factors hampering the market. The high cost is the main constraint in the market. Another factor hampering the market is the high internet bandwidth requirement for web enabled TVs. In addition to these limiting factors, technological advances such as the introduction of 8K and the introduction of higher internet bandwidth in developing economies in the future, such as 4G, 5G and LTE, are further expected to create opportunities for market players to increase their share of income.
The market is segmented on the basis of resolution, technology, and platform. By resolution, the market is segmented into HD Smart TV (1,280 x 720), Full HD Smart TV (1,920 x 1,800), 4K smart TV and 8K Smart TV. By technology, the market is segmented into LCD (Liquid Crystal Display), LED (Light Emitting Diode), OLED (Organic Light Emitting Diode), QLED (Quantum Dot Light Emitting Diode).
Global smart TV market share by technology, 2020 (%)
On the basis of technology, OLED is expected to show significant market growth during the forecast period. The increasing number of R&D projects in the development of this technology to completely transform the viewer experience is expected to drive the growth of this market segment. In july 2020, Samsung launched a new series of QLED smart TVs – the QT67 series – in South Korea. These are the first Samsung QLEDs to achieve the first class energy efficiency rating. The increasing launches of products based on this technology are also expected to stimulate the growth of this market segment.
The global smart TV market is analyzed on the basis of geographic regions which significantly contribute to the market growth. Asia Pacific is estimated to hold a considerable share in the global smart TV market. Growing internet penetration and presence of low cost manufacturers in the region are supporting the growth of the market. North America is estimated to be the fastest growing region during the forecast period for premium TV such as 4K & 8K televisions. It is further believed that the high purchasing power of individuals in the region will drive the adoption of these TVs in the region which in turn is expected to drive the growth of the regional market. In addition, the high regional market share is attributed to the rapid development of advanced technologies. Growing internet penetration and growing demand for online streaming in emerging countries in the region such as India, China, and South Korea.
Perspectives of market players
Apple Inc., Google Inc., Haier Group Corp., Koninklijke Philips NV, LG Electronics Inc., Samsung Electronics Co., Ltd. and Videocon Industries Ltd. are the major players in the smart TV market. To survive in the market, these players adopt different marketing strategies such as mergers, acquisitions, product launches, geographic expansion, etc. For example, in 2021, Philips launched 10 new smart TV models with up to 4K UHD panels in India with a variety of features such as HDR10 + support and Dolby audio experience. The new models have been launched in a variety of sizes and screens
The report covers
- Analysis of 2020 market value data and forecast to 2027.
- Annualized market revenues ($ millions) for each market segment.
- Country analysis of the main geographic regions.
- Key companies operating in the global smart TV market. Based on data availability, information related to new product launches and relevant news is also available in the report.
- Analysis of business strategies by identifying key market segments positioned for strong growth in the future.
- Analysis of market entry and expansion strategies.
- Competitive strategies by identifying “who is where in the market”.
Main topics covered:
1. Summary of the report
2. Market overview and information
2.1. Scope of the report
2.2. Analyst analysis and current market trends
2.2.1. Main conclusions
3. Competitive landscape
3.1. Key company analysis
3.1.2. Financial analysis
3.1.3. SWOT analysis
3.1.4. Recent developments
3.2. Key strategy analysis
4. Market determinants
5. Market segmentation
5.1. Global Smart TV Market By Resolution
5.1.1. HD Smart TV
5.1.2. FULL HD Smart TV
5.1.3. 4K Smart tv
5.1.4. 8K Smart tv
5.2. Global Smart TV Market by Technology
5.2.1. LCD (liquid crystal display)
5.2.2. LED (light emitting diode)
5.2.3. OLED (organic light emitting diode)
5.2.4. QLED (quantum dot light emitting diode)
6. Regional analysis
6.1. North America
6.1.1. United States
6.2.6. Rest of Europe
6.3. Asia Pacific
6.3.4. South Korea
6.3.5. Rest of Asia Pacific
6.4. Rest of the world
7. Company profiles
7.1. Advanced micro-systems
7.2. Apple Inc.
7.3. Cable TV Laboratories, Inc. Google Inc.
7.4. Haier Corp. Group
7.5. Hisense Co., Ltd
7.6. Hong Kong Skyworth Digital Holdings Co.,
7.7. Intel Corp.
7.8. Koninklijke Philips NV
7.9. LG Electronics Inc.
7.10. Microsoft Corp.
7.11. Mirc Electronics Ltée.
7.12. Nyxio Technologies Corp.
7.13. Panasonic Corp.
7.14. Samsung Electronics Co., Ltd.
7.15. Sharp Corp.
7.16. Sony Corp.
7.17. TCL Corp.
7.18. Toshiba Corp.
7.19. Videocon Industries Ltd.
For more information on this report, visit https://www.researchandmarkets.com/r/x1f3gc
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