Improving living standards, easy availability of high-speed internet, especially in developed countries, and the rising disposable income of the consumers is the major growth driver for the Smart TV Market.
JERSEY CITY, N.J., Nov. 30, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Smart TV Market" By Screen Size (Below 32 inches, 32 to 40 inches, 40 to 47 inches, 48 to 55 inches), By Technology (OLED, QLED, LED, Plasma), By Application (Residential and Commercial), and By Geography. According to Verified Market Research, the Global Smart TV Market size was valued at valued at USD 323.31 Billion in 2020 and is projected to reach USD 970.22 Billion by 2028, growing at a CAGR of 17.01% from 2021 to 2028.
Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=39774
Browse in-depth TOC on "Smart TV Market"
202 - Pages
126 – Tables
37 – Figures
Global Smart TV Market Overview
Improving living standards, easy availability of high-speed internet, especially in developed countries, and the rising disposable income of the consumers is the major growth driver for the Smart TV Market. In addition to this, the high investment of key players for the development of advanced smart TV's and a substantial drop in the price of smart TV have triggered the demand for smart TV's. For instance, in July 2020, LG has introduced a pair of new 4 K LED smart TVs in India with support for 4K active HDR and X sound technology. Furthermore, smartphone compatibility, screen sharing, web browsing & convenience, better viewing experience, enhanced color accuracy, and bright colors are the features that are expected to support the growth of the market. However, high-cost associate with the smart TV's and risk of data privacy & security are the elements which might hamper the market growth. Smart TV, one of the newest innovations in television and smart home appliance industry, has exhibited a strong growth across the globe. Most television manufacturers have been inclined towards expanding their product portfolios with smart TVs, resulting in considerable price reduction of entry level smart TVs. Easy availability of internet worldwide along with continuous development of the internet of things technology is fueling the market demand over the period.
The COVID-19 pandemic outbreak has resulted into strict lockdowns imposed by various government authorities. This has restricted the movement of vehicle as well as people, which in turn has augmented the demand for online video streaming and use of OTT platforms ultimately leading to increased demand for smart TVs. Stringent lockdowns and suspension of manufacturing processes by companies and trade suspensions by various countries has severely impacted the consumer electronics industry resulting in a substantial production slowdown. This is anticipated to temporarily affect the Smart TVs market growth.
In January, Samsung Electronics shared its vision for the future at the 2021 Consumer Electronics Show (CES). The company introduced new products at its virtual press conference, showing how it's continuing to innovate by creating solutions that are flexible, intelligently connected, and use AI to understand context to make daily life seamless.
Key innovations unveiled include: 10-inch MICRO LED: This new screen features self-lit inorganic LED with a slim and nearly bezel-less Infinity Screen design that seamlessly blends into the living space. The result is a spectacularly immersive viewing experience with astounding picture quality and delivering a new, innovative, and collaborative business model fostering industrial transformation. Lifestyle TV: Samsung's cutting-edge lifestyle TV lineup includes The Serif, The Frame, The Sero and The Terrace—a recently launched 4K QLED outdoor TV—as well as Samsung The Premiere, a cinema-like quality 4K laser projector
The major players in the market are Samsung, Haier Electronics Group Co., Ltd., LG Electronics, Inc. Panasonic Corporation, Koninklijke Philips N.V., Sony Corporation and Toshiba Corporation among others.
Verified Market Research has segmented the Global Smart TV Market On the basis of Screen Size, Technology, Application, and Geography.
Smart TV Market, By Screen Size
Smart TV Market, By Technology
Smart TV Market, By Application
Smart TV Market by Geography
Browse Related Reports:
Smart Lighting Market By Installing Type (New Installation, Retrofit Installation), By Communication Technology (Wired Technology, Wireless Technology), By Application (Indoor Applications, Outdoor Applications), By Offering (Hardware, Software, Services, Post-Installation), By Geography, Forecast, 2021-2028
Smart Glass Market By Technology (Suspended Particle Display, Electrochromic, Photochromic), By Application (Architecture, Power Generation Plants (Solar), Transportation), By Geography, Forecast, 2021-2028
Narrowband IoT Market By Component (Software, Services, Hardware), By Application (Smart Agriculture, Pollution Monitoring, Predictive Maintenance), By End User (Residential, Commercial, Industrial), By Geography, Forecast, 2021-2028
Internet of Things Sensors Market By Product (Pressure Sensor, Environmental Sensor, Optical Sensor), By Application (Smart Home & Wearable's, Smart Energy, Smart Security), By Geography, Forecast, 2021-2028
Top Smart Glass Manufacturers working synergistically towards a sustainable future
Visualize Smart TV Market using Verified Market Intelligence:-:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.
We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.
Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll Free: +1 (800)-782-1768
Follow Us: LinkedIn | Twitter
SOURCE Verified Market Research