Smart TV Market Overview:
Smart TV Market was volume at 476.54 Million Units in 2023. Global Smart TV Market size is estimated to grow at a CAGR of 21 % over the forecast period.
A smart TV is a television that can be connected to the Internet and utilized as a stand-alone device. Although smart TVs are now sold as a separate product, any conventional TV with a set-top box can be transformed into a smart TV. By connecting to the internet, over-the-top video provided by online streaming services can be streamed easily on smart TVs. Customers prefer this service because it offers on-demand streaming material that can be seen on a widescreen instead of being limited to our computers or mobile phones. Smart TV market report's segment analysis is provided, based on the resolution, sceen size, sceen type and region.
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Market Scope:
Product prices have decreased, a growing number of buyers have chosen these technologically superior televisions. Manufacturers are also improving their offerings by adding new features to newer models for the convenience of customers, resulting in increasing demand. The 4K UHD TV sector, which has become a standard resolution for most manufacturers, has seen considerable penetration in the smart TV market.
Segmentation:
By Resolution
4K UHD TV
HDTV
Full HD TV
8K TV
By Screen Size
Below 32 Inches
32 to 45 Inches
46 to 55 inches
56 to 65 Inches
Above 65 Inches
By Screen Type
Flat
Curved
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Regional Analysis
In 2020, the Asia Pacific dominated the smart TV market with a 39 % share. Smart television use is increasing in fast emerging economies, such as India, which is helping to drive regional market growth. Moreover, rising demand for 4K display technology, driven by customer preferences for greater picture quality and elegant design, is expected to boost revenue creation in the region. China controls a large portion of the regional market, which is being bolstered by new entrants such as Hisense Co., Ltd., and TCL Corporation, who are expanding their footprint and increasing rivalry for established firms. These factors are driving the growth of the market in this region.
Smart TV 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
Key Questions answered in the Smart TV Market Report are:
- Which region held the largest market share in the Smart TV Market?
- What is the expected Smart TV market size by 2030?
- Which factors are the opportunities for the Smart TV market growth?
- What are investment opportunities for the Smart TV market?
- What are the recent industry trends that were implemented to generate additional revenue streams for the Smart TV Market?
- Which segment dominates the Smart TV Market?
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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