Smart TV Market Size and Growth Rate:
According to the latest reports published by Research Cosmos, Smart TV Market is expected to grow at a CAGR of 15.86% during the forecast period 2018 to 2023.
Smart TV Market – Growth Drivers and Restraints:
The increasing popularity of 4K resolution televisions and the increasing penetration of televisions in developing countries are driving market growth. The increasing consumption of online content coupled with the proliferation of high-speed Internet is encouraging consumers to choose smart TVs. The growing media and entertainment industry, especially in the Asia-Pacific region, is further strengthening market growth. Increasing disposable income and improving living standards also supports market growth. Another factor driving the market is the growing demand for IPTV and HD video. It is expected that technological progress and increasing purchasing power of consumers will increase the acceptance of smart TVs during the forecast period.
However, concerns about privacy and security are hampering market growth. Growing demand from emerging economies and increasing consumer awareness are factors that should provide many growth opportunities in the coming years.
Smart TV Market – Geographical Overview:
North America is even more strongly segmented in the US, Canada and Mexico. Europe is divided into Germany, Great Britain, Italy, France and Rest of Europe. Asia Pacific is forked in China, India, Japan and the rest of the Asia-Pacific region. The Asia-Pacific region was responsible for the largest market share of Smart TV Global in 2017. The advancement of new display technologies such as QLED and OLED throughout North America has led to a decline in the production of LCD panels. On the other hand, progress is driving the smart TV market with the updated QLED technology, which improves color accuracy and produces brighter, larger-volume colors.
Some of the promising companies leading the Smart TV Market are:
- LG Electronics Inc.
- Panasonic Corporation
- Hisense Group Co. Ltd
- Samsung Electronics Co. Ltd
- Sony Corporation
- Koninklijke Philips NV
This research report includes following segmentation for the Smart TV Market size and forecast until 2023:
Smart TV Market – By Resolution Type:
- 4K UHD TV
- Full HD TV
- 8K TV
Smart TV Market – By Screen Size:
- 28-40 inches
- 41-59 inches
- Over 60 inches
Smart TV Market – By Geographical Segmentation:
- North America
- United Kingdom
- South Korea
- Latin America
- Middle-East & Africa