A new market study, titled “Discover Global Smart TV Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Smart TVs are digital TVs with advanced features such as internet connectivity and storage capacity.
This report analyses the current status of the global Smart TV market, outlines the key market drivers and the bases for market segmentation, and studies the trends of this market till 2024.
The increase in cable services and broadcasting of high-resolution content by live streaming platforms has led to growth in the manufacturing of application loaded and high-resolution smart TVs. It is also expected that the rise in technology innovations in smart TV software and better display resolutions will witness a rapid growth in the global smart TV market. Another growth contributor to this market is the rising influence of digital media for marketing and advertising of smart TVs.
Industry experts predict that the value of the Smart TV market will reach USD 278 billion by 2024, at a CAGR of around 10% during 2019-2024.
The Smart TV market is segmented on the basis of resolution type, screen type, screen size, technology, platform, distribution channel, and geographical region.
According to resolution type, this market can be split into:
4K UHD TV
Full HD TV
According to screen size, this market is split into:
Below 32 Inches
32 to 45 Inches
46 to 55 Inches
56 to 65 Inches
Above 65 Inches
The Below 32 and 32-45 inches segments occupied a substantial share of the overall smart TV market in 2017, but are expected to see a decrease in the annual growth rate due to the growth of the 60 inch and above screen size segments by the end of the forecast period.
According to screen type, the Smart TV market can be divided into:
Depending on technology, this market is split into:
LCD (Liquid Crystal Display)
LED (Light Emitting Diode)
OLED (Organic Light Emitting Diode)
QLED (Quantum Dot Light Emitting Diode)
Depending on platform, this market is split into:
According to distribution channel, the smart TV market is divided into:
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa are the major regions for the Smart TV market across the world.
It is expected that the Asia Pacific region, except Japan, will hold the majority of the market share in terms of revenue, during the forecast period. This is because this region witnesses the highest internet penetration in the world. Other factors such as technological advancements, growth of e-commerce and social media, as well as initiatives by the Government of India such as Digital India or Smart City projects are further fueling the growth of the smart TV market in the APEJ region. Besides, the availability of a large volume of free content in China and the rest of the Asia Pacific region is also contributing to the growth in this market.
In the latest industry news as of August 2019, OnePlus, a premium smartphone manufacturer, will enter the smart TV market in September by launching its product first in India before its home market in China.
Name: Norah Trent
Email: Send Email
Address: Office No. 528/524, Amanora Chambers, Magarpatta Road, Hadapsar Pune, Maharashtra 411028
Release ID: 88930693