The global smart TV market size is expected to be worth around 2.18 billion units by 2030, according to a new report by Vision Research Reports.
The global smart TV market size was valued at 288.9 million units in 2020 and is anticipated to grow at a CAGR of 21.8% during forecast period 2021 to 2030.
|Market Size||2.18 billion units by 2030|
|Growth Rate||CAGR of 21.8% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Resolution, screen size, screen shape|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||LG Electronics Inc., Ltd.; Samsung Electronics Co. Ltd.; Sony Corporation; VIZIO Inc.; Videocon Industries Ltd.|
Growing consumer inclination toward QLED and OLED displays and the regular launch of 4K and 8K resolution television sets by new and established vendors are the factors expected to favor the global demand for smart TVs over the forecast timeframe. Smart TVs are integrated with internet connectivity features and offer a range of advanced computing and connectivity options that enable users to search, browse, download, and share content online. Industry players are focusing on further enhancing the viewing experience, which is poised to help the market gain immense traction in the near future.
Based on the resolution, the smart TV market is segmented into 4K UHD TV, HDTV, Full HD TV, and 8K TV. The 4K HDTV segment registered the highest volume share of around 40% in 2020 and is expected to retain its dominance over the forecast period.
The 8K TV segment is expected to register the fastest growth, exhibiting a CAGR of approximately 19.0% from 2021 to 2028. This can be attributed to the rising customer demand for TVs offering high-resolution picture quality.
By Screen Type Analysis
The flat screen type segment dominated the industry in 2020 and accounted for the lion’s share of more than 95% both in terms of volume and revenue.
The segment is poised to retain its dominance over the forecast period as well. The high revenue generation can be attributed to the lesser cost of flat-panel TV sets compared to their curved counterparts.
By Screen Size Analysis
The 46 to 55 inches category dominated the market in 2020, capturing more than 38.05% of the revenue share. The declining product prices and the rapid integration of 4K technology with attractive features are encouraging consumers to purchase TVs with larger screen sizes.
The above 65 inches segment is expected to register the fastest CAGR of over 14.05% from 2021 to 2030. A considerable number of customers planning to purchase 55-inch TV sets do not hesitate to invest a bit more and opt for TV sets with over 65-inch displays due to relatively insignificant variation in prices between the two categories.
By Regional Analysis
The Asia Pacific region accounted for the largest market share of more than 38.05% in 2020 and is expected to continue to dominate over the forecast period as well. The region is also poised to exhibit the fastest growth from 2021 to 2030.
The Middle East and Africa region is anticipated to grow significantly, exhibiting a CAGR of over 12.05% from 2021 to 2030. Advancements across the OTT space and a notable increase in the development of engaging content are leading to a rapid rise in the adoption of smart TVs in the region.
LG Electronics Inc.
Samsung Electronics Co. Ltd.
Videocon Industries Ltd.
Sansui Electric Co. Ltd.
Haier Electronics Group Co., Ltd.
4K UHD TV
Full HD TV
By Screen Size
Below 32 Inches
32 to 45 Inches
46 to 55 inches
56 to 65 Inches
Above 65 Inches
By Screen Type
Middle East & Africa (MEA)
The Smart TV market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Smart TV market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Smart TV market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Smart TV market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Smart TV market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Smart TV capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Smart TV by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Smart TV market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Smart TV market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Smart TV market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Smart TV industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Smart TV market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Smart TV market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Smart TV market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Smart TV market. These factors have benefited the growth of the global market for Smart TV. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Smart TV. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Smart TV are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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