Our comprehensive research on the Global Smart Television Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global smart television market size was US$ 217.1 billion in 2021. The global smart television market is forecast to reach US$ 771.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 15.2% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
The growing trend of smart offices and smart homes will offer ample growth opportunities for the smart television market growth. In addition, the increasing number of advancements in technology is forecast to fuel the growth of the smart television market. In July 2020, Samsung introduced its latest series of QLED Smart TVs. Furthermore, OnePlus unveiled its smart TV in September 2019. It is considered the first proper foray of the manufacturer into non-smartphone hardware. In addition, Samsung Electronics Co. Ltd unveiled its line of 2020 QLED 4K and 8K TVs in March 2020. Such advancements are likely to benefit the entire smart television market.
Smart televisions also include DVD players, music players, and internet-based applications. All of these features turn them into computers capable of streaming videos from online streaming platforms like Amazon TV, Netflix, Hulu, and Google Movies. Furthermore, the rising demand for smart televisions with smart features will surge the market growth during the forecast period.
The global smart television market is forecast to witness favorable opportunities, owing to the extensive availability of different content for consumers’ experience. In addition, the growing urban population and rising disposable income are likely to benefit the global smart television market.
Regional Analysis
Asia-Pacific is forecast to dominate the global smart television market in terms of revenue. The growth of the market is attributed to the presence of prominent industry players such as LG Electronics, Samsung, etc. In addition, OTT VOD platforms, such as Amazon Prime Video, HOOQ, and Netflix, are gaining rapid traction in the region. As a result, it will surge the growth of the Asia-Pacific smart television market.
The growing number of launches by the regional industry players is forecast to benefit the market. Shinco, an Indian television brand, unveiled its latest television, the S43UQLS 43- inch 4K HDR LED Smart TV, in July 2020.
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Competitors in the Market
- 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 Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Smart Television industry experienced notable growth in its workforce. Starting in January, employment within the Smart Television sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Smart Television output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Smart Television output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Smart Television market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Smart Television market.
Market Segmentation
The global smart television market segmentation focuses on Screen, Display, Resolution, Screen, Application, and Region.
Based on Screen Type
- Flat
- Curved
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Based on Display Type
- LCD (Liquid Crystal Display)
- LED (Light Emitting Diodes)
- Plasma
- Organic Light Emitting Diode
- QLED (Quantum DotLED)
Based on Resolution Type
- UHD TV
- HDTV
- Full HD TV
- TV 8 K
Based on Screen Size
- 32 inches and lower
- 32+ to 55 inches
- 55+ to 65 inches
- Above 65 inches
Based on Application
- Residential
- Commercial
Based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Smart Television Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Smart Television Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Smart Television Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Smart Television Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Smart Television market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Smart Television market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Smart Television business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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