Smart TV Market technology, application, Scope, Growth and Forecast 2027

[manisha kashid]

A smart TV is a television that can be connected to the Internet and used independently. Although smart TVs are now sold separately, any traditional TV with a set-top box can be converted into a smart TV. Over-the-top video from online streaming services can be easily streamed on smart TVs by connecting to the internet. Customers prefer this service because it provides on-demand streaming content that can be viewed on a large screen rather than being restricted to our computers or mobile phones. The segment analysis of the smart TV market report is provided based on resolution, screen size, screen type, and region.

Smart TV Market Report Scope and Research Methodology:

The report depicts a clear Smart TV Market structure, as well as current market trends and forecasts to identify potential investment areas. It includes historical data, recent technological advancements, the competitive landscape, and government policy, among other market-influencing factors. The Smart TV Market report provides clients with information on major drivers, restraints, challenges, and opportunities. To facilitate understanding, the market has been divided into three major segments, each of which has been further subdivided into various sub-segments. The report also includes a segment-by-segment analysis of market growth factors, as well as a competitive analysis of major market players based on their expansion plans, products, investments, pricing, and presence in the Smart TV industry.

The information gathered for the Smart TV Market report using these methods was combined to produce accurate and error-free conclusions. As part of the primary research, interviews were conducted with subject-matter experts, Smart TV industry participants, high-level executives of key market players, industry consultants, and other experts. The market report's PESTLE analysis aids in the development of company strategies. A SWOT analysis was used to determine the market's strengths and weaknesses.

Smart TV Market Overview:

The study examines market growth drivers and challenges, as well as company plans, procedures, and a comprehensive financial strategy. Customization and extensive information about Smart TV industry potential meet customer expectations. The Smart TV Market research investigates the competitive landscape and key players in the industry. This Smart TV market study aids in structure planning in light of current industrial conditions.

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 Dynamics:

Various smart TV providers' use of Android as an operating system has made it simple for users to access major OTT platforms such as Netflix, Hulu, and YouTube. Furthermore, the Google platform gives users access to popular Android-based applications such as Facebook, Twitter, and Google Play. Furthermore, Android TVs support voice commands, which can be accessed via magic remotes. For example, the Sony One-Flick remote includes a microphone that allows users to search for their favourite channels and shows using voice commands. Along with applications, Android includes games, music, and movies.

Smart TV Market Segmentation:

In terms of resolution, 4K HDTVs dominated the smart TV market in 2020, accounting for 40% of the market. 4K TVs have gained popularity due to their steadily decreasing prices. According to the Consumer Technology Association, sales of these televisions have surpassed those of HDTVs. The use of quantum dot and nanotechnology by key manufacturers such as Samsung Electronics Co., Ltd., Sony Corporation, and others to improve the image quality of their products in this category has resulted in increased demand.

In 2020, the 8K TV market is expected to grow at a CAGR of 20%. This is due to an increase in customer demand for high-resolution televisions. 8K TVs have approximately 33 million pixels, which is significantly more than the 8 million pixels of a 4K HDTV. Companies are expanding their 8K series portfolios by introducing equipment with enhanced AI capabilities that are designed to deliver dynamic sound and the highest picture quality. These factors are expected to drive the segment's growth over the forecast period.

In 2020, the flat screen type segment dominated the market with a 90% share. The significant income creation can be attributed to the lower cost of flat-panel TV sets when compared to their curved counterparts. The majority of consumers prefer flat screens because they are easier to mount on the wall. The mirror illusion provided by curvature, in which light streaming off the display conceals the image, can also contribute to the increased demand for flat panels. These factors are propelling the segment's growth in the smart TV market.

The curved screen market is expected to grow 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 vendors are also introducing flexible TV panels that can convert flat panels into curved ones. These factors are expected to drive the segment's growth over 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

Smart TV Market Regional Insights:

Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America comprise the Smart TV market. From 2021 to 2029, the report forecasts revenue growth in USD terms at the regional and country levels. The report includes a regional analysis with market size estimates for each region. The study's countries section examines a variety of market elements expected to influence current and future Smart TV market trends, as well as changes in market rules at the country level. Some of the primary components used to forecast each country's Smart TV market situation are consumption, production location and amount, import/export analysis, pricing analysis, raw material prices, and upstream and downstream value chain analysis.

Key Questions answered in the Smart TV Market Report are:

• What are the Smart TV market segments?
• Which segment in the Smart TV market is expected to grow rapidly during the forecast period?
• Which are the prominent players in the Smart TV market?
• What key trends are expected to emerge in the Smart TV market during the forecast period?
• What was the Smart TV market size in 2021?
• Which region dominated the Smart TV market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022−2027.
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by segments with their sub-segments and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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About Stellar Market Research

Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients 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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