Smart TV Market to Reach US$ 278 Billion by 2024 - IMARC Group

Global Smart TV Market Research Report and Outlook By 2024

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Report Description and Highlights

Report Description

Smart TV Market Report By Resolution Type (4K UHD TV, HD TV, Full HD TV and 8K TV), Screen Size (Below 32 Inches, 32 to 45 Inches, 46 to 55 Inches, 56 to 65 Inches and Above 65 Inches), Screen Type, Technology, Platform, Distribution Channel, Application, Region The global smart TV market has witnessed strong growth in recent years on account of the increasing base of online content users, rising demand for consumer electronics and growing adoption of 4K resolution television sets.

Market Overview: According to the latest report by IMARC Group, titled “Smart TV Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global smart TV market reached a value of US$ 157 Billion in 2018. Smart televisions (TVs) refer to a new generation of TVs which are integrated with the internet and Web 2.0 feature and offer an interactive experience to users. They are equipped with an Ethernet port and built-in Wi-Fi to acquire home networking access and stream music, videos, games and 4K content from different online streaming applications and websites such as YouTube, Netflix and Amazon Prime. Most of the smart TV models available in the market also include voice recognition applications including Google Assistant and Amazon Alexa.

Report Description and Highlights

Report Description Market Trends:

Smart TVs not only receive over the air (OTA) transmissions but have inbuilt hardware for connecting to wireless devices including smartphones and tablets. The adoption of 4K resolution television sets and growing penetration of consumer electronics, especially in developing economies, is strengthening the growth of the market. Apart from this, increasing consumption of online content in confluence with the emerging demand for high-speed internet is encouraging consumers to adopt smart TVs. Further, technological advancements and inflating income levels of consumers are also anticipated to bolster the market growth in upcoming years. By 2024, the market is projected to reach a value of US$ 278 Billion, expanding at a CAGR of 10% during 2019-2024.

Smart TV Market Segmentation: Market Segmentation by Resolution Type o o o o

4K UHD TV HD TV Full HD TV 8K TV

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Market Forecast

Sample Figure: Global: Smart TV Market Forecast: Sales Value (in Billion US$), 2019-2024

184.3

191.7

199.3

207.3

2019

2020

2021

2022

215.6

224.2

2023

2024

Market Segmentation

Report Description

Based on the resolution, the market has been segmented into 4K UHD TV, HD TV, full HD TV and 8K TV. Market Segmentation by Screen Size • • • • •

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

On the basis of the screen size, the market has been divided into below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches and above 65 inches. Currently, the 46 to 55 inches segment accounts for the majority of the market share.

Market Segmentation by Screen Type • •

Flat Curved

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Market Segmentation

Report Description

Based on the screen type, the market has been bifurcated into flat and curved screen TVs. Presently, flat screen TVs represent the most popular type, holding the dominant segment Market Segmentation by Technology • • •

LCD (Liquid Crystal Display) LED (Light Emitting Diode) OLED (Organic Light Emitting Diode)

•

QLED (Quantum Dot Light Emitting Diode)

The market has been segmented on the basis of the technology which includes Liquid Crystal Display (LCD), Light Emitting Diode (LED), Organic Light Emitting Diode (OLED) and Quantum Dot Light Emitting Diode (QLED). Amongst these, LED exhibits dominance in the global market.

Market Segmentation by Region • •

North America Europe

Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

Report Description • • •

Asia Pacific Latin America Middle East and Africa

Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the leading region, accounting for the majority of the market share.

Market Segmentation by Platform • • • • • • •

Android Roku Web Os Tizen Os iOS MyHomeScreen Others

On the basis of the platform, Android represents the largest segment. Other major platforms include Roku, Web OS, Tizen OS, iOS and MyHomeScreen.

Market Segmentation

Report Description

Market Segmentation by Distribution Channel • •

Offline Online

Based on the distribution channel, the market has been classified into offline and online segments. At present, offline represents the most popular distribution channel around the world.

Market Segmentation by Application • •

Residential Commercial

On the basis of the application, the residential sector exhibits a clear dominance in the market, followed by the commercial sector.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

Market Segmentation

Report Description • • • • • • • • • • • • •

LG Electronics Inc. Samsung Electronics Co. Ltd Sony Corporation Panasonic Corporation Vizio Inc. Apple Inc. Hisense Group Co. Ltd Koninklijke Philips NV TCL Corporation Insignia Systems Inc. Haier Group Corporation Hitachi Ltd Westinghouse Electric Corporation

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institutions

Report Description and Highlights

Report Description

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