The global smart television market size was US$ 217.1 billion in 2021. The global smart television market is forecast to reach US$ 771.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 15.2% during the forecast period from 2022 to 2030.
Factors Influencing the Market
The growing trend of smart offices and smart homes will offer ample growth opportunities for the smart television market growth. In addition, the increasing number of advancements in technology is forecast to fuel the growth of the smart television market. In July 2020, Samsung introduced its latest series of QLED Smart TVs. Furthermore, OnePlus unveiled its smart TV in September 2019. It is considered the first proper foray of the manufacturer into non-smartphone hardware. In addition, Samsung Electronics Co. Ltd unveiled its line of 2020 QLED 4K and 8K TVs in March 2020. Such advancements are likely to benefit the entire smart television market.
Smart televisions also include DVD players, music players, and internet-based applications. All of these features turn them into computers capable of streaming videos from online streaming platforms like Amazon TV, Netflix, Hulu, and Google Movies. Furthermore, the rising demand for smart televisions with smart features will surge the market growth during the forecast period.
The global smart television market is forecast to witness favorable opportunities, owing to the extensive availability of different content for consumers' experience. In addition, the growing urban population and rising disposable income are likely to benefit the global smart television market.
COVID-19 Impact Analysis
The COVID-19 epidemic has had a significant impact on all consumers' lifestyles and habits. In-home video consumption has reached new heights due to work-from-home mandates. However, the market is being badly impacted in terms of supply. Governments of various countries announced border closures, which is impacting the supply chain.
Regional Analysis
Asia-Pacific is forecast to dominate the global smart television market in terms of revenue. The growth of the market is attributed to the presence of prominent industry players such as LG Electronics, Samsung, etc. In addition, OTT VOD platforms, such as Amazon Prime Video, HOOQ, and Netflix, are gaining rapid traction in the region. As a result, it will surge the growth of the Asia-Pacific smart television market.
The growing number of launches by the regional industry players is forecast to benefit the market. Shinco, an Indian television brand, unveiled its latest television, the S43UQLS 43- inch 4K HDR LED Smart TV, in July 2020.
Competitors in the Market
Market Segmentation
The global smart television market segmentation focuses on Screen, Display, Resolution, Screen, Application, and Region.
Based on Screen Type
Based on Display Type
Based on Resolution Type
Based on Screen Size
Based on Application
Based on Region
