The Report Smart TV Market
Analysis By Resolution (4K UHD TV, HDTV, Full HD TV, 8K TV), By Screen Size
(Below 32 Inches, 32-45, 46-55, 56-65, Above 65 Inches), By Screen Type, By
Region, And Segment Forecasts, 2018 - 2025
The global smart TV market is expected to reach USD
292.55 billion by 2025, according to a new report by Grand View Research, Inc.
The introduction of 4K resolution-equipped televisions, coupled with the
shifting preference toward OLED and QLED displays, is expected to emerge as a
major trend in the smart TV industry.
Streaming devices such
as Apple TV, Amazon Fire TV, and Google Chromecast are changing the consumers’
viewing experience. Several manufacturers are teaming up with OTT content and
device providers to provide built-in features with no further requirement of a
set-top box. For instance, TCL Corporation has teamed up with Roku, Inc. and
introduced a 4K HDR Roku TV. The China-based vendor is using the Roku platform
for its television product line. Additionally, Hitachi, Ltd., Hisense Co. Ltd,
and Sharp Corporation have also teamed up with Roku, Inc. to provide such
features.
Key players have
developed their proprietary operating systems or have partnered with open
source providers in order to offer a plethora of apps to their customers. For
instance, Google Inc.’s Android OS is widely used in televisions manufactured
by Sony Corporation, LG Electronics, Inc., TCL Corporation, and Koninklijke
Philips N.V.
Several regional players
are focusing on expanding their presence globally to gain market share. The
industry is witnessing intense rivalry among premium segment as players have
exhibited keenness towards introducing and promoting Ultra High Definition
(UHD) screens.
The growing popularity
of smart homes has supplemented market growth as smart TVs help in enhancing
the content viewing experience. As the home entertainment sector is paving its
way in smart homes, the market is expected to witness increased demand over the
next nine years. Large screen televisions are expected to capture substantial
share fueled by rising consumer aspirations and affordable price points.
Moreover, people are replacing their existing traditional televisions in the
wake of availability of new high-tech and affordable solutions.
Further key findings from the report suggest:
· The 4K UHD segment is expected to witness
significant growth over the forecast period. The plummeting prices of these TVs
are attracting customers and triggering the demand.
· The 46- to 55-inch segment is expected to
dominate the market over the forecast period. The growth can be attributed to
features such as high resolution and high picture quality with Dolby Digital
sound, which can be better experienced on larger screen sizes.
· Flat-screen TVs dominated the market in
2016 and are expected to continue doing so due to their relatively lower prices
as compared to their curved-screen counterparts.
· The Asia Pacific region is expected to
dominate the overall smart TV market with an expected CAGR of over 10%
throughout the forecast period. The emergence of new players in China is
expected to contribute to the regional growth.
· The key players in the industry include
Samsung Electronics Co. Ltd., LG Electronics, Inc., Sony Corporation, Panasonic
Corporation, and Videocon Industries Limited.
Grand View Research has
segmented the market for smart TV by resolution, screen size, screen type, and
region.
Resolution Outlook (Revenue and Volume; 2014 - 2025)
·
4K UHD TV
·
HDTV
·
Full HD TV
·
8K TV
Screen Size Outlook (Revenue and Volume; 2014 - 2025)
·
Below 32 inches
·
32 to 45 inches
·
46 to 55 inches
·
56 to 65 inches
·
Above 65 inches
Screen Type Outlook (Revenue and Volume; 2014 - 2025)
·
Flat
·
Curved
Regional Outlook (Revenue, USD Billion; 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa (MEA)
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
