Global Smart TV Market to expand with 7.4% CAGR between 2018-2023

November 14, 2019


According to research report titled ‘Global Smart TV Market: Analysis By Screen Type, Screen Resolution, Screen Size, By Region, By Country (2018 Edition): Opportunities and Forecast (2013- 2023)’ available with Market Study Report LLC, the global smart TV market is slated to grow substantially with a CAGR of 7.4% from 2018 to 2023.

 

Growing inclination for the use of Smart TV for viewing global sport events like PyeongChang Winter Olympics and FIFA world cup, coupled with rising per capita expense on smart home equipment are the key factors propelling the growth of smart TV market. Additionally, widespread adoption of bezel-less OLED smart TVs, in tandem with growing preferences towards online content, escalating replacement demand, and effective advertisements by major companies will further boost the smart TV market growth.
 

As per screen type, the market is segmented into flat TV and curved TV, whereas based on screen resolution, the smart TV market is categorized as HD/FHD, 4K and above. 4K and 8K resolution segment is expected to witness upsurge in demand over the forecast period due to rising awareness about advanced technologies, increasing trends of using ultra high definition TVs and decreasing prices.
 

In terms of screen size, the market is fragmented into 30-39 inches, 40-49 inches, 50-59 inches and above 60 inches. While on the basis of distribution channel, smart TV market is classified into online and offline.
 

Considering geographical locations, the global smart TV market is divided into regions including North America, APAC, Europe, and the rest of the world. As per the report, North America held the largest share in the global smart TV market in 2018. Surging demand for smart TVs with large screens, rising inclination of millennials towards online streaming, and technological advancements in electronics and IoT are responsible for the regional growth.
 

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The key contenders of smart TV market are LG Electronics, Panasonic Corp., Sony, Videocon, Xiaomi Corp., Hisense, Sharp Corp. and Samsung.
 

Notably, the research report discusses and examines the potential growth opportunities prevailing in smart TV market. It also provides crucial statistics on the current market size and segmental revenue shares. The study further aims to offer top-notch business information and help investors to evaluate their investments thoroughly.


Frequently Asked Questions (FAQ) :

Widespread adoption of bezel-less OLED smart TVs, in tandem with growing preferences towards online content, escalating replacement demand, and effective advertisements by major companies will further boost the smart TV market growth.
4K and 8K resolution-based smart TV segment is expected to witness upsurge in demand over the forecast period due to rising awareness about advanced technologies, increasing trends of using ultra high definition TVs and decreasing prices.
As of 2018, North America held the largest share in the global smart TV market. Surging demand for smart TVs with large screens, rising inclination of millennials towards online streaming, and technological advancements in electronics and IoT are responsible for regional growth.
The key companies operating in smart TV market are LG Electronics, Panasonic Corp., Hisense Sony, Videocon, Xiaomi Corp., Sharp Corp. and Samsung.