Smart TV Market Size to Grow by USD 163.21 Bn, Sony Corporation and LG Electronics Inc. Among Key Vendors: Market.us

The global smart TV market had value was USD 163.21 billion in 2021. Looking forward, Market.us expects the market to exhibiting at a compound annual growth rate of 6.9% between 2023-2032.

If you’re thinking about what Smart televisions (TVs), also known as connected TVs. They are equipped with internet connectivity which allows them to provide a wide variety of features such as access to streaming services and on-demand content from various applications. It is an internet-connected TV with a wide variety of online capabilities, including on-demand content and access to streaming service such as Amazon Prime or Netflix. You can also connect with other wireless devices like smartphones, tablets, and other mobile devices.

In the period 2022-2032, the market for global smart televisions will see a growing demand for high-definition (HD), channels and video on Demand (VOD). The growth of smart TV markets is driven by increasing internet penetration and technological advancements. Product prices are falling, as well as digital transformations in the broadcasting sector. This, combined with growing customer demand, will see the smart television market boom in the future. Smart TVs can be loaded with many advanced applications and features that aren’t available in conventional televisions.

Get PDF Sample for Technological Breakthroughs: https://market.us/report/smart-tv-market/request-sample/

Smart TV faces many challenges, including the need for high-speed internet access to their services and applications. This is a high-cost option that can be costly but also acts as a barrier to low internet bandwidth across different regions which ultimately hinders demand.

Smart TV Market Drivers:

The key factors contributing to India’s smart television market growth include the continued use of streaming devices, increased internet penetration, shift in consumer preference, high revenue generation, an increase in disposable income and modernization of our world.

Key Market Restraints

The main factors limiting the growth of the smart TV market are the availability Android mobiles that have an operating system that makes it easy for users and make it possible to access major OTT platform. In addition, the strict lockdowns enforced by the government since the Covid-19 epidemic have reduced the number consumers visiting the electronics sector. But electronic products are something that people prefer to buy from a physical showroom. This has negatively affected electronics industry.

For low-income households, the high cost of the most recent smart technology television presents a challenge. It lowers the market demand and hinders growth.

Key Market Trends

QLED is expected to experience significant growth over the forecast period. QLED stands to represent quantum light-emitting device. QLED panels are expected to continue to hold the largest market share because they offer many features that other types of panels cannot.

OLED and QLED panels are both expensive. Some OLEDs start at USD 1,800 while some QLEDs start at USD 1,000. QLED’s innovations, deeper blacks and better colors and wider viewing angles address three of the most common problems in LCD and LED technology, driving further market demand.

Table: Scope of the Report

AttributeDetails
Market Size in 2021USD 163.21 Bn
Growth Rate6.9%
Historical Years2016-2020
Base Year2021
Quantitative UnitsUSD In Bn
No. of Tables & Figures150+
FormatPDF/Excel
Sample ReportAvailable – Click here to Get a Sample Report

Recent Developments

Samsung Electronics shared its vision for the future in January at the 2021 Consumer Electronics Show. At its virtual interview, the organization showcased new products and showed how it is developing by adapting, cleverly associating, and using AI to understand settings to make everyday life consistent.

Lifestyle TV: Samsung’s new TV line includes The Serif and The Frame, The Sero, The Sero, The Sero, and The Terrace. This 4K QLED outdoor TV was just launched by Samsung. Also, Samsung The Premiere is a 4K laser projector that has a cinema-like quality.

Sony Corporation announced in April 2020 the pricing and availability of its OLED and LED models with Google Assistant for quick access to entertainment and device control.

10-inch MICROLED: This screen has a self-lit, inorganic LED and a thin Infinity Screen design. It seamlessly blends into your living space.

Competitive Landscape:

  • LG Electronics Inc.
  • Samsung Electronics Co. Ltd.
  • Sony Corporation
  • VIZIO Inc.
  • Videocon Industries Ltd.
  • Sansui Electric Co. Ltd.
  • Toshiba Corporation
  • Haier Electronics Group Co., Ltd.
  • Other Key Players
  •  

Key Market Segments

By Resolution

  • 8K TV
  • HDTV
  • Full HD TV
  • 4K UHD TV

By Screen Type

  • Curved
  • Flat

By Screen Size

  • Below 32 Inches
  • 32 to 45 Inches
  • 46 to 55 inches
  • 56 to 65 Inches
  • Above 65 Inches

Frequently Asked Questions (FAQ)

  • What is the growth rate of the market?
  • What is the forecast outlook of the market for 2022-2032?
  • What are the major industry drivers?
  • What are the top industry trends in the global smart TV market?
  • What are the major regions of smart TV according to the market report?
  • What are the major resolution types of the product in the industry?
  • What are the most popular screen sizes for smart TVs in the industry?
  • What are the key screen technology components of the product?
  • What are the key platforms in the industry for your product?
  • What are the major distribution channels of the product in the industry?
  • What are the most important application segments for the product in this industry?
  • According to the report, who are the top industry players?

About Market.us

Market.US (Powered by Prudour Private Limited) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report providing firm.

Contact Details:

Global Business Development Team – Market.us

Address: 420 Lexington Avenue, Suite 300 New York City, NY 10170, United States

Phone: +1 718 618 4351 (International), Phone: +91 78878 22626 (Asia)

Email: [email protected]

About the author

Avatar of Linda Hohnholz

Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x
Share to...