A smart TV is a television that can be connected to the Internet and used independently. Although smart TVs are now offered separately, any traditional TV with a set-top box can be converted into a smart TV. Over-the-top video from online streaming providers can be effortlessly watched on smart TVs simply connecting to the internet. Customers enjoy this service because it provides on-demand streaming content that can be seen on a large screen rather than being restricted to our computers or mobile phones. The section analysis of the smart TV market report is offered based on resolution, screen size, screen type, and region.
Smart TV Market Scope and Research Methodology
The report comprehensively analyses the Smart TV market’s trends, forecasts, and monetary values. The report provides an in-depth analysis of the segments and sub-segments in and regional Smart TV markets.The report contains a bottom-up approach to understanding estimations of the market size. Key market participants and new entrants’ services, revenue, financial status, portfolio, growth strategies, and regional presence are all included in the Smart TV Market report. The report forecasts the market size and growth rate along with existing and future trends in the Smart TV market.
The Smart TV market report provides demand projections, market trends, and micro and macro factors in depth. It also identifies the factors that are driving and restricting the Smart TV market’s growth. The qualitative and quantitative methods are included in the report. Research using SWOT, PESTLE, and Porter’s Five Force tools are used for the analysis of the Smart TV market. The analysis identified key upcoming developments that are expected to influence Smart TV market demand over the forecast period.
Smart TV Market Report Overview:
The main objective of the SMR’s Smart TV Market report is to help clients make business decisions, which help them decide which areas they need to improve, which are already performing well and help the new entrant in their landing and penetrating the competition. The report also enlightens about the challenges prevailing in the Smart TV Market.
Smart TV Market Size was volume at 269 Million Units in 2020. Global Smart TV Market size is estimated to grow at a CAGR of 21 % over the forecast period.
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Smart TV Market Regional Analysis:
Geographically, Smart TV market report is segmented into several key regions are as follows,
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (the United States, Mexico, and Canada.)
- South America (Brazil etc.)
- The Middle East and Africa (GCC Countries and Egypt.)
Smart TV Market Segmentation:
In terms of resolution, 4K HDTVs dominated the smart TV industry in 2020, accounting for 40% of the market. 4K TVs have gained popularity due to their continually lowering prices. According to the Consumer Technology Association, sales of these televisions have surpassed those of HDTVs. The use of quantum dot and nanotechnology by prominent manufacturers like as Samsung Electronics Co., Ltd., Sony Corporation, and others to improve the image quality of their goods in this area has resulted in increased demand.
In 2020, the 8K TV market is estimated to increase at a CAGR of 20%. This is due to a rise in client demand for high-resolution televisions. 8K TVs have approximately 33 million pixels, which is much greater than the 8 million pixels of a 4K HDTV. Companies are increasing their 8K series portfolios by releasing equipment with enhanced AI capabilities that are aimed to deliver dynamic sound and the greatest picture quality. These factors are projected to boost the segment’s growth during the forecast period.
In 2020, the flat screen type category dominated the market with a 90% share. The huge income creation can be attributed to the cheaper cost of flat-panel TV sets as compared to their curved counterparts. The majority of users prefer flat screens since they are easier to mount on the wall. The mirror effect given by curvature, in which light pouring off the display covers the image, can also contribute to the increased demand for flat screens. These factors are propelling the segment’s expansion in the smart TV market.
The curved screen market is estimated to increase at an 8% CAGR over the forecast period. Curved panels offer a more immersive experience as well as better viewing angles. Curved screens also help to reduce video degradation caused by viewing off-center. Market sellers are also introducing flexible TV panels that can convert flat screens into curved ones. These factors are projected to boost the segment’s growth during the forecast period.
Smart TV Market Key Players:
LG Electronics Inc., Ltd.
Samsung Electronics Co. Ltd.
Sony Corporation
VIZIO Inc.
Videocon Industries Ltd
Xiaomi
Panasonic Corporation
Apple Inc.
Hisense Group Co. Ltd.
Koninklijke Philips NV
TCL Corporation
Insignia Systems Inc.
Haier Group Corporation
Hitachi Ltd.
Westinghouse Electric Corporation
Key questions answered in the Smart TV Market are:
- What was the Smart TV market size in 2021?
- What is the growth rate of the Smart TV Market?
- Which are the factors expected to drive the Smart TV market growth?
- What are the different segments of the Smart TV Market?
- What are the factors restraining the growth of the Smart TV Market?
- What segments are covered in the Smart TV Market?
- Who are the key players in the Smart TV market?
- What are the upcoming industry applications and trends for the Smart TV Market?
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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