Smart TV is basically a concurrence between computer and
social TV which allows users to use all features presents in computers or
smartphones. Smart TV offers various features such as internet accessibility,
storage capacity, GPS system and other entertainment features such as games,
music and other. Smart TV is integrated with internet connection which allows
access to a number of popular websites including Netflix, YouTube, Amazon Prime
and Hulu. In addition to this, smart TV is currently facing many technological
transformations such as motion control. Adoption of smart TV by advertisement
media is a key trend which is expected to lead smart TV generation to the next
level.
Market
Size & Forecast
In terms of revenue, global
smart
TV market is
anticipated to flourish at a compound annual growth rate (CAGR) of 8.5% over
the forecast period i.e. 2017-2024. Global smart TV market stood at
revenue around USD 260.2 Billion in 2016. Rising disposable income of
consumers, growing population and changing lifestyles of middle class
population are some major factors which are expected to foster the growth of
global smart TV market during the forecast period.
Geographically, global smart TV market is segmented into
five major regions i.e. North America, Europe, Asia Pacific, Latin America and
Middle East & Africa region. Among these regions, Asia Pacific region is
the dominating market of smart TV and is expected to continue its dominance
over the forecast period owing to the increasing demand
for smart TV by end users and presence of fastest growing
economies such as India and China.
North America region is anticipated to witness a robust
growth during the forecast period. This growth of North America region can be
attributed to rising popularity of Netflix and other services in this region.
Further, Europe region is projected to witness a small growth during the
forecast period owing to factors such as low advertisements and promotion
campaign by TV brands and shortage of better local content in this region.
On the other hand, Latin America region expected to grow at
a satisfactory pace over the forecast period due to digital switchover in this
region.
Market
Segmentation
Our-in depth analysis of the global smart TV market includes
the following segments:
By
Technology
·
Liquid Crystal Display
·
Plasma Display Panel
·
Light Emitting Diodes & Organic Light
Emitting Diode
By
Distribution Channel
·
Online Stores
·
Single Brand Stores
·
Multi Brand Stores
By Size
·
Up to 32 Inch
·
39-50 Inch
·
55-65 Inch
·
70 Inch or Larger
By End
User
·
Home
·
Offices
·
Education Industry
·
Other
Growth
Drivers & Challenges
Joint venture of lading players in order to provide more
features in smart TV and to maximize the selling numbers of products is one of
the major factors driving the growth of global smart TV market. Additionally,
industry leaders are making high investment in technology to improve the
overall performance of smart TV. Such technological development is further
attributed to drive the growth of global smart TV market.
Moreover, increasing number of internet users across the
globe and rise in demand for internet connected multimedia devices is
bolstering the growth of global smart TV market. Apart from this, global smart
TV market is driven by rising disposable income of the consumers and their
inclination towards high-tech devices. Such factors have led all major players
to increase spending on innovation and development of consumer electronics
which is further envisioned to propel the demand for smart TV.
However, high cost of smart TVs is hampering the growth of
global smart TV market. Moreover, rising adoption of personal computers over
television is also hindering the growth of global smart TV market.
Key
Players
Apple Inc., Advanced Micro Devices Inc., Google
Haier Group, Intel Corp., LG Electronics Inc., Microsoft Corporation, Panasonic
Corporation, Samsung, Sony Corporation, Boxee, Cable Labs, Logitech
International S.A., Nyxio Technologies Corp., Toshiba, Yahoo Inc.
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more information: https://www.researchnester.com/reports/smart-tv-market-global-demand-analysis-opportunity-outlook-2024/386
Contact for more Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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