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Smart TV Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

January 2023 | 115 pages | ID: S5813ED5CA3EN
IMARC Group

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The global smart TV market size reached US$ 256.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 379.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

Smart televisions (TVs), also known as connected TVs, are next-generation electrical devices integrated with internet connectivity. They consist of built-in Wi-Fi that eliminates the need for a separate set-top box. They receive cable, satellite, and over-the-air (OTA) transmission and offer a wide range of features, including Web 2.0, connection with wireless devices, and on-demand content from different applications. Besides this, they are equipped with extra hardware and connections, a TV operating system, and a graphical user interface (GUI) that aid in streaming content from internet video services. As a result, the demand for smart TVs is significantly increasing across the globe.

Smart TV Market Trends:
Rapid urbanization, improving standards of living, and the rising penetration of high-speed internet connectivity have resulted in a growing number of individuals spending on online video streaming platforms like Hulu, Netflix, Amazon Prime, and YouTube Premium. This represents one of the key factors positively influencing the market. In addition, a significant rise in the sales of streaming devices and opportunities in the over-the-top (OTT) platforms are also bolstering market growth. Apart from this, smart TVs are loaded up with numerous advanced features and applications, such as screen sharing, mirror casting, web browsing, improved viewing experience, and enhanced color accuracy, which is catalyzing their demand across the globe. Additionally, smart TVs can be wirelessly connected to various input devices, including mice, keyboards, smartphones, and tablets. This assists in improving usability and enabling navigation, text entry, and internet browsing. As a result, their demand is increasing around the world. Furthermore, the increasing investments by the leading market players in marketing strategies, such as social media promotions and celebrity endorsement, are propelling the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart TV market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on resolution type, screen size, screen type, technology, platform, application and distribution channel.

Breakup by Resolution Type:

4K UHD TV
HD TV
Full HD TV
8K TV

4K UHD smart TVs dominate the market as they offer higher pixel density and produce clearer and better-defined pictures than regular TVs.

Breakup by Screen Size:

Below 32 Inches
32 to 45 Inches
46 to 55 Inches
56 to 65 Inches
Above 65 Inches

32 to 45-inch TVs account for the majority of the market share as they are budget-friendly and give superior picture quality.

Breakup by Screen Type:

Flat
Curved

Smart TVs with flat screens represent dominate the market as they are easy to install on the wall.

Breakup by Technology:

Liquid Crystal Display (LCD)
Light Emitting Diode (LED)
Organic Light Emitting Diode (OLED)
Quantum Dot Light Emitting Diode (QLED)

Light-emitting diode (LED) smart TVs hold the majority of the market share as they consume less power and consequently aid in reducing electricity bills.

Breakup by Platform:

Android
Roku
WebOS
Tizen OS
iOS
MyHomeScreen
Others

Android TV currently dominates the market as it offers numerous features, such as voice search and content aggregation from multiple media apps and services. In addition, it provides play store access for application downloads.

Breakup by Distribution Channel:

Offline
Online

Offline distribution channel represents the largest market segment as it offers personalized recommendations from sales staff and there is no need to wait for product delivery.

Breakup by Application:

Residential
Commercial

The residential sector accounts for the majority of the market share due to inflating disposable incomes of individuals and improving standards of living.

Regional Insights:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

The Asia Pacific exhibits a clear dominance in the market due to the growing population and increasing expenditure capacity of individuals in the region.

Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:

LG Electronics, Inc.
Samsung Electronics Co. Ltd.
Sony Corporation
Panasonic Corporation
Vizio Inc.
Apple Inc.
Hisense Group Co. Ltd.
Koninklijke Philips NV
TCL Corporation
Insignia Systems Inc.
Haier Group Corporation
Hitachi Ltd.
Westinghouse Electric Corporation

This report provides a deep insight into the smart tv industry covering all its essential aspects. This ranges from a macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a smart tv processing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the smart tv industry in any manner.

Key Questions Answered in This Report
1. What is the size of the global smart TV market in 2022?
2. What is the expected growth rate of the global smart TV market during 2023-2028?
3. What are the key factors driving the global smart TV market?
4. What has been the impact of COVID-19 on the global smart TV market?
5. What is the breakup of the global smart TV market based on the resolution type?
6. What is the breakup of the global smart TV market based on the screen size?
7. What is the breakup of the global smart TV market based on the screen type?
8. What is the breakup of the global smart TV market based on the technology?
9. What is the breakup of the global smart TV market based on the platform?
10. What is the breakup of the global smart TV market based on the distribution channel?
11. What is the breakup of the global smart TV market based on the application?
12. What are the key regions in the global Smart TV market?
13. Who are the key companies/players in the global Smart TV market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL SMART TV MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Resolution Type
5.5 Market Breakup by Screen Size
5.6 Market Breakup by Screen Type
5.7 Market Breakup by Technology
5.8 Market Breakup by Platform
5.9 Market Breakup by Distribution Channel
5.10 Market Breakup by Application
5.11 Market Breakup by Region
5.12 Market Forecast
5.13 SWOT Analysis
  5.13.1 Overview
  5.13.2 Strengths
  5.13.3 Weaknesses
  5.13.4 Opportunities
  5.13.5 Threats
5.14 Value Chain Analysis
  5.14.1 Overview
  5.14.2 Research and Development
  5.14.3 Raw Material Procurement
  5.14.4 Manufacturing
  5.14.5 Marketing
  5.14.6 Distribution
  5.14.7 Exports
  5.14.8 End-User
5.15 Porters Five Forces Analysis
  5.15.1 Overview
  5.15.2 Bargaining Power of Buyers
  5.15.3 Bargaining Power of Suppliers
  5.15.4 Degree of Competition
  5.15.5 Threat of New Entrants
  5.15.6 Threat of Substitutes
5.16 Price Analysis

6 MARKET BREAKUP BY RESOLUTION TYPE

6.1 4K UHD TV
6.2 HD TV
6.3 Full HD TV
6.4 8K TV

7 MARKET BREAKUP BY SCREEN SIZE

7.1 Below 32 Inches
7.2 32 to 45 Inches
7.3 46 to 55 Inches
7.4 56 to 65 Inches
7.5 Above 65 Inches

8 MARKET BREAKUP BY SCREEN TYPE

8.1 Flat
8.2 Curved

9 MARKET BREAKUP BY TECHNOLOGY

9.1 LCD (Liquid Crystal Display)
9.2 LED (Light Emitting Diode)
9.3 OLED (Organic Light Emitting Diode)
9.4 QLED (Quantum Dot Light Emitting Diode)

10 MARKET BREAKUP BY PLATFORM

10.1 Android
10.2 Roku
10.3 WebOS
10.4 Tizen OS
10.5 iOS
10.6 MyHomeScreen
10.7 Others

11 MARKET BREAKUP BY DISTRIBUTION CHANNEL

11.1 Offline
11.2 Online

12 MARKET BREAKUP BY APPLICATION

12.1 Residential
12.2 Commercial

13 MARKET BREAKUP BY REGION

13.1 Asia Pacific
13.2 Europe
13.3 North America
13.4 Middle East and Africa
13.5 Latin America

14 SMART TV MANUFACTURING PROCESS

14.1 Product Overview
14.2 Raw Material Requirements
14.3 Manufacturing Process
14.4 Key Success and Risk Factors

15 COMPETITIVE LANDSCAPE

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
  15.3.1 Apple Inc.
  15.3.2 Haier Group Corporation
  15.3.3 Hisense Group Co. Ltd
  15.3.4 Hitachi Ltd
  15.3.5 Insignia Systems Inc.
  15.3.6 Koninklijke Philips NV
  15.3.7 LG Electronics Inc.
  15.3.8 Panasonic Corporation
  15.3.9 Samsung Electronics Co.
  15.3.10 Sony Corporation
  15.3.11 TCL Corporation
  15.3.12 Vizio Inc.
  15.3.13 Westinghouse Electric Corporation

LIST OF TABLES

Table 1: Global: Smart TV Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Smart TV Market: Breakup by Resolution Type (in Million US$), 2017-2022
Table 3: Global: Smart TV Market: Breakup by Screen Size (in Million US$), 2017-2022
Table 4: Global: Smart TV Market: Breakup by Screen Type (in Million US$), 2017-2022
Table 5: Global: Smart TV Market: Breakup by Technology (in Million US$), 2017-2022
Table 6: Global: Smart TV Market: Breakup by Platform (in Million US$), 2017-2022
Table 7: Global: Smart TV Market: Breakup by Distribution Channel (in Million US$), 2017-2022
Table 8: Global: Smart TV Market: Breakup by Application (in Million US$), 2017-2022
Table 9: Global: Smart TV Market: Breakup by Region (in Million US$), 2017-2022
Table 10: Global: Smart TV Market: Competitive Structure
Table 11: Global: Smart TV Market: Key Players

LIST OF FIGURES

Figure 1: Global: Smart TV Market: Major Drivers and Challenges
Figure 2: Global: Smart TV Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Smart TV Market: Breakup by Resolution Type (in %), 2022
Figure 4: Global: Smart TV Market: Breakup by Screen Size (in %), 2022
Figure 5: Global: Smart TV Market: Breakup by Screen Type (in %), 2022
Figure 6: Global: Smart TV Market: Breakup by Technology (in %), 2022
Figure 7: Global: Smart TV Market: Breakup by Platform (in %), 2022
Figure 8: Global: Smart TV Market: Breakup by Distribution Channel (in %), 2022
Figure 9: Global: Smart TV Market: Breakup by Application (in %), 2022
Figure 10: Global: Smart TV Market: Breakup by Region (in %), 2022
Figure 11: Global: Smart TV Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 12: Global: Smart TV Industry: SWOT Analysis
Figure 13: Global: Smart TV Industry: Value Chain Analysis
Figure 14: Global: Smart TV Industry: Porter’s Five Forces Analysis
Figure 15: Global: Smart TV (4K UHD TV) Market: Sales Value (in Million US$), 2017-2022
Figure 16: Global: Smart TV (HD TV) Market: Sales Value (in Million US$), 2017-2022
Figure 17: Global: Smart TV (Full HD TV) Market: Sales Value (in Million US$), 2017-2022
Figure 18: Global: Smart TV (8K TV) Market: Sales Value (in Million US$), 2017-2022
Figure 19: Global: Smart TV (Below 32 Inches) Market: Sales Value (in Million US$), 2017-2022
Figure 20: Global: Smart TV (32 to 45 Inches) Market: Sales Value (in Million US$), 2017-2022
Figure 21: Global: Smart TV (46 to 55 Inches) Market: Sales Value (in Million US$), 2017-2022
Figure 22: Global: Smart TV (56 to 65 Inches) Market: Sales Value (in Million US$), 2017-2022
Figure 23: Global: Smart TV (Above 65 Inches) Market: Sales Value (in Million US$), 2017-2022
Figure 24: Global: Smart TV (Flat) Market: Sales Value (in Million US$), 2017-2022
Figure 25: Global: Smart TV (Curved) Market: Sales Value (in Million US$), 2017-2022
Figure 26: Global: Smart TV (LCD) Market: Sales Value (in Million US$), 2017-2022
Figure 27: Global: Smart TV (LED) Market: Sales Value (in Million US$), 2017-2022
Figure 28: Global: Smart TV (OLED) Market: Sales Value (in Million US$), 2017-2022
Figure 29: Global: Smart TV (QLED) Market: Sales Value (in Million US$), 2017-2022
Figure 30: Global: Smart TV (Android) Market: Sales Value (in Million US$), 2017-2022
Figure 31: Global: Smart TV (Roku) Market: Sales Value (in Million US$), 2017-2022
Figure 32: Global: Smart TV (WebOS) Market: Sales Value (in Million US$), 2017-2022
Figure 33: Global: Smart TV (Tizen OS) Market: Sales Value (in Million US$), 2017-2022
Figure 34: Global: Smart TV (iOS) Market: Sales Value (in Million US$), 2017-2022
Figure 35: Global: Smart TV (MyHomeScreen) Market: Sales Value (in Million US$), 2017-2022
Figure 36: Global: Smart TV (Other Platforms) Market: Sales Value (in Million US$), 2017-2022
Figure 37: Global: Smart TV Market: Offline Sales (in Million US$), 2017-2022
Figure 38: Global: Smart TV Market: Online Sales (in Million US$), 2017-2022
Figure 39: Global: Smart TV (Residential) Market: Sales Value (in Million US$), 2017-2022
Figure 40: Global: Smart TV (Commercial) Market: Sales Value (in Million US$), 2017-2022
Figure 41: Asia Pacific: Smart TV Market: Sales Value (in Million US$), 2017-2022
Figure 42: Europe: Smart TV Market: Sales Value (in Million US$), 2017-2022
Figure 43: North America: Smart TV Market: Sales Value (in Million US$), 2017-2022
Figure 44: Middle East and Africa: Smart TV Market: Sales Value (in Million US$), 2017-2022
Figure 45: Latin America: Smart TV Market: Sales Value (in Million US$), 2017-2022
Figure 46: Smart TV Manufacturing: Detailed Process Flow


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