Smart televisions enable users to access a variety of content through streaming services, video-on-demand platforms, and internet browsing. Smart TVs feature built-in apps, voice controls, and screen mirroring options. Users can watch their favorite shows, movies, and videos, play games, and connect with social media platforms directly on their TV screens. Additionally, smart TVs offer connectivity with other smart devices, enhancing the overall home entertainment experience and making them a central hub for multimedia content and smart home integration.
According to Data Bridge Market Research, the Global Smart Television (T.V.) Market is at USD 239 billion in 2021 and is expected to reach USD 1,081. 60 billion by 2029. The market is expected to grow with a CAGR of 20.77% in the forecast period of 2022 to 2029.
“Increasing demand for personalized entertainment boosts the market’s growth”
The smart television (TV) market is experiencing growth due to the increasing demand for personalized entertainment. Smart TVs offer a wide range of content streaming options, on-demand services, and interactive features that cater to individual preferences. With the rise of streaming platforms, viewers seek seamless access to personalized content and a more immersive entertainment experience. Smart TVs provide the convenience of accessing a vast array of content from various sources, leading to higher consumer adoption and driving the growth of the market.
What restraints the growth of the global smart television (T.V.) market?
“Taxation of smart TVs restraints the market’s growth”
The taxation of smart TVs acts as a restraint on the market's growth. In some regions, smart TVs may be subject to higher taxes or import duties, increasing their retail price. This can make smart TVs less affordable for price-sensitive consumers, leading to decreased demand and slower market growth. Additionally, taxation policies can affect manufacturers' profit margins, potentially discouraging investment and innovation in the smart TV industry, further impacting market expansion.
Segmentation: Global Smart Television (T.V.) Market
The global smart television (T.V.) market is segmented on the basis of resolution, screen size, type, technology, platform, and distribution channel.
- On the basis of resolution, the smart television (T.V.) market is segmented into 4K UHD TV, HDTV, Full HD T.V., and 8K T.V.
- On the basis of screen size, the smart television (T.V.) market is segmented into below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, and above 65 inches.
- On the basis of type, the smart television (T.V.) market is segmented into flat and curved.
- On the basis of technology, the smart television (T.V.) market is segmented into OLED, QLED, LED, plasma, and others.
- On the basis of platform, the smart television (T.V.) market is segmented into android, roku, WebOS, Tizen O.S., iOS, MyHomeScreen, and others.
- On the basis of distribution channel, the smart television (T.V.) market is segmented into direct and indirect.
Regional Insights: Asia-Pacific dominates the Global Smart Television (T.V.) Market
Asia-Pacific dominates the smart television (T.V.) market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period as the smart television market is witnessing rapid growth in developing economies such as India, driven by the increasing adoption of smart TVs. Furthermore, the market is benefiting from the rising demand for 4K display technology, fueled by consumers' preference for superior quality and sleek design. These factors are expected to propel the market's growth rate in the region even further.
Middle East and Africa are expected to witness significant growth during the forecast period of 2022 to 2029 due to advancements in the OTT (Over-the-Top) space and the availability of engaging content. Additionally, consumers are increasingly shifting their focus towards online content, driven by the widespread availability of high-speed internet connections. These factors are expected to further boost the market's growth rate in the region.
To know more about the study visit, https://www.databridgemarketresearch.com/ar/reports/global-smart-tv-market
Recent Development
- In April 2021, Samsung introduced its premium Neo QLED TV line, aiming to provide viewers with a cinematic experience. The new range features an almost bezel-less Infinity One Design and delivers true-to-life picture quality. Customers can choose from five sizes: 85-inch, 75-inch, 65-inch, 55-inch, and 50-inch. These Neo QLED TVs come equipped with Samsung's innovative Neo Quantum Processor, which employs advanced upscaling capabilities to optimize picture quality, producing 4K and 8K outputs irrespective of the input quality, thanks to 16 distinct neural network models trained in A.I. upscaling and deep learning technologies.
The Prominent Key Players Operating in the Global Smart Television (T.V.) Market Include:
- SAMSUNG (South Korea)
- SONY INDIA (Japan)
- L.G. Electronics (South Korea)
- Google LLC (U.S.)
- Panasonic Corporation (Japan)
- SHARP CORPORATION (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Hitachi Ltd. (Japan)
- TCL (China)
- Skyworth Group Limited (China)
- Haier Group (Hong Kong)
- TOSHIBA CORPORATION (Japan)
- Videocon Industries Limited (Mumbai)
- Grande Holdings Company Limited (Hong Kong)
- Xiaomi (China)
- Hisense International (China)
- VIZIO, Inc. (U.S.)
- INSIGNIA SYSTEMS (U.S.)
- Apple Inc (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global smart television (T.V.) market companies contact, https://www.databridgemarketresearch.com/ar/contact
Research Methodology: Global Smart Television (T.V.) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
