Smart TV Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

Global Smart TV Market Outlook

Global Smart TV Market size is projected to reach US$ 495.87 Billion by 2030, according to Renub Research. The term "Smart TV" is often applied interchangeably with the terms "Connected TV" or "hybrid TV" and refers to a television set this is ready with Internet connectivity and Web 2.0 features. Smart TVs provide buyer more control over content, just like that experienced with smartphones. In comparison, conventional TV content has been likened to a "walled garden," in which network operators exercising control over the content provided.

By comparison, smart TVs enable customers to access a broader range of content and programs, based on their needs, via new distribution channels like software stores and the Internet. The shift to smart TVs has tested that they may be the advanced preference for customers. Smart TVs market growth are endowed with new features for each technology, hence expanding their capabilities. With smart integrations, streaming apps, and large internal hard drives, even budget friendly options can be vital for all entertainment needs.

Thanks to the fourth industrial revolution, producers of connected TVs are in a race to introduce the modern-day improvements in user interface, content aggregation, and application development. Smart TVs have operating stystems that run apps and widgets and permit streaming of movies and music. This gives consumers a variety of advanced computing capabilities and connectivity. The devices also have unified internet capabilities, which allow customers to search, chat, browse, share, replace, and download content. Over the next seven years, experience design is predicted to be a key differentiator for manufacturers of smart tv market share.

Global Smart TV Market Size, 2024-2030 (Billion US$)

Note: The chart above shows dummy data and is only for illustration purposes. Please get in touch with us for the actual market size and trends.

Global Smart TV market is poised to raise at a CAGR of 11.68% from 2024 to 2030

The Smart TV market's future holds wonderful potential as technological improvements reshape its landscape. With the arrival of 8K decision, OLED shows, and AI-driven features, Smart TVs are evolving to offer immersive and personalized viewing experiences. Integration with voice assistants, smart home devices, and seamless connectivity enhance user convenience. Smart tv market forecast is push toward content streaming services and interactive abilities similarly propels it ahead. As buyer needs for large monitors and enhanced functionalities grow, the global smart tv market share is placed for sustained boom, providing a glimpse into a future in which entertainment and technology converge seamlessly.

The availability of effortlessly consumable content has main inspired the demand for Smart TVs. Nations together with India and China boast many low and middle-class buyers. TV manufacturers in the small to mid-high price ranges had been given several possibilities by using adopting price optimization techniques. With the advent of streaming media like Apple TV, Amazon Fire TV, and Google Chromecast, consumers' common viewing experience has been absolutely transformed. Many manufacturers have collaborated with OTT (over-the-top) content and device service to provide various capabilities to consumers without requiring them to use a set-top box. For instance, TCL Corporation partnered with Roku Inc. to release a 4K HDR TV. The introduction of Smart TVs has enabled users to apply applications evolved in advance for smartphones, thereby improving their experience. The market size of Smart TVs worldwide reached USD 228.90 Billion in 2023.

Global Smart Tv Market

Panasonic Corporation

Panasonic India has released 23 new smart TV in May 2023, powered through the Google TV platform. The models include the MX850-MS550 series.

In January 2024, Panasonic Entertainment & Communication Co Ltd partnered with Amazon.Com Services LLC to increase a TV that offers a superb visual involvement. They aim to deliver super pictures and sound tailor-made to every family's viewing surroundings, makes experience in that aligns with various lifestyles and variety of content.

Sony Corporation

2023, Sony Electronics Inc. unveiled its BRAVIA XR TV Lineup featuring Cognitive Processor XR technology to provide an immersive home entertainment capability. The lineup consists of 5 new models such as X95L and X93L Mini LED, X90L Full Array LED, A95L QD-OLED, and A80L OLED. These models have advanced features for a tremendous viewing involvement in even as looking movies, streaming apps, and gaming.

Sony India launched the Bravia X80K TV with an X1 4K HDR Picture Processor in May 2022. It gives Google TV and superior image and sound generation for an immersive amusement experience.

Samsung

February 2024, Samsung Electronics commenced its annual tech seminars in Germany. The event, which was open to European specialists, showcased Samsung's most up-to-date display lineup for 2024, consisting of AI technology and shrewd functions on Neo QLED, OLED, and Lifestyle products.

Samsung Electronics introduced its July 2024 TV and audio lineup, together with Neo QLED 8K, Neo QLED 4K, OLED, Lifestyle, and Micro LED displays, beforehand of CES 2024.

In March of 2024, Samsung unveiled its modern day lineup of displays, ushering in a brand new technology of Samsung AI TVs.

Sharp corporation

May 2023, Sharp Corporation officially released its AQUOS XLED 4K TV in Middle East, Asian market, and Africa Region. 

Sharp Home Electronics Company released a brand-new lineup of Sharp Roku TV OLED 4K UHD with HDR10 and LCD 4K UHD TVs in November 2023 as part of their go back to American tv market. The OLED models characteristic the AQUOS™ TV sub-branding name.

VIZIO Inc

VIZIO's 2024 Smart TV lineup has a new appearance with a refreshed emblem identity, home screen layout, and up to date coloration palette. The new 4K, Full HD, and HD TV fashions are available in countrywide shops now. The lineup gives awesome value, image quality, craftsmanship, and leisure.

Walmart and VIZIO announced in February 2024 that Walmart had agreed to acuire VIZIO for $11.50 in step with proportion in coins. This deal represents a fully diluted fairness price of about USD 2.3 billion.

Koninklijke Philips

TP Vision and Pluto TV partnership to launched Pluto TV's ad-supported streaming TV offerings on Philips Smart TV across Europe and Latin America in Sept 2023.

Philips Hospitality is launching a new line of TVs in February 2024, with Chromecast. The new Philips Hospitality TV 4500 Series comes in 6 sizes and is designed to deliver top rate features and functionality at a decrease charge tag, addressing the challenges faced by smaller and cost settings while upgrading their shows.

Hitachi Ltd

Hitachi has released its Q collection of huge-display screen Quantum Dot (QLED) Android TVs in Feb 2023. The frameless 4K HDR TVs come in 62"/55"/50"/43" sizes, with higher tiers of coloration accuracy and detail, way to their QLED technology. They provide an extra immersive home enjoyment revel in with functions together with Dolby Vision HDR and incorporated audio system.

Toshiba Visual Solutions

Toshiba launched its new TV, the M650 in July 2023. It capabilities Mini LED era, Quantum Dot Color, Full Array Local Dimming Pro, and REGZA Engine ZR for AI actual-time optimization.

Toshiba is released the 4K UHD Google TV series in India in July 2022. The flagship collection has top-notch functions like Google TV, Quantum Dot, Full Array Local Dimming, 2.1 Bazooka Woofer, Far Field Voice Control, Regza Engine 4K Pro AI Picture Optimizer, Dolby Vision HDR and Game Mode. It can be to be had in 55” and 65” sizes.

Apple Inc

In October 2022, Apple released a brand new and stepped forward version of Apple TV 4K, which gives faster overall performance, fluid gameplay, and cinematic first-rate. It is powered by an A15 Bionic chip and supports HDR10+ and Dolby Vision, presenting extraordinary enjoyment alternatives for all users.

Apple Inc. Is developing new smart home devices to compete with Amazon and Google, including shows and a faster TV set-pinnacle container, following the relaunch of its greater outstanding HomePod speaker in Jan 2023.

The HD TV sector is anticipated to showcase the maximum CAGR during upcoming period

The Smart TV Market is segmented into various Resolution Types: HD TV, FULL HD TV, 4K UHD TV, 8K TV, and Others. Among those, the HD TV will hold the biggest market share. This can be attributed to different factors, consisting of the high-definition image quality and a wide variety of content supporting it. HD TVs generally offer a 1920 x 1080 pixels resolution, which has been the industry baseline for decades. This resolution is extensively used and popular amongst consumer due to the availability of a large amount of present content that supports it.

Moreover, streaming content and live sports in this resolution do not consume high internet bandwidth whilst imparting an immersive and good quality viewing experience. Due to its affordability and reputation, the HD TV sector is anticipated to preserve its dominance in the market in the coming years. However, with the arrival of more recent and greater advanced technology like 4K and 8K decision, the market dynamics are anticipated to change gradually. Nonetheless, HD TVs are predicted to remain the favored choice for lots purchasers inside the upcoming years.

Screens between 32 to 45 inches are widely used in the worldwide smart TV market

The Smart TV Market gives numerous display screen sizes, starting from much less than 32 inches to over 65 inches. The to be had sizes are divided into 5 categories: under 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, and above 65 inches. In the smart TV market global, displays ranging from 32 to 45 inches in size are highly prevalent. These displays are wide used in households and industrial settings, balancing affordability and high display. They are ideal for small to medium-sized rooms, providing a clean and immersive viewing experience for streaming shows, films, and different content. With their recognition and versatility, 32 to 45-inch monitors are expected to remain a dominant force in the smart TV market for the forecast year.

The flat Smart TVs industry has experienced a large expansion in terms of accessibility and affordability, making it to be had to a broader range of consumers

The Smart TV Market can be divided into Flat and Curved. With the upward thrust in recognition of streaming services like Netflix and Amazon Prime Video, the demand for advanced Smart Flat Screen TVs is anticipated to develop. These TVs come prepared with Artificial Intelligence (AI) and voice manage technologies, which results in the better user experience. Users can access to personalized content recommendations and control their TV through voice commands, making streaming more uncomplicated. The current outlook for the Smart flat screen TV market is optimistic, driven by using an upswing in disposable income, technological developments, and the growing trends of home entertainment systems.

LED TV is predicted to preserve the best market percentage due to improved adoption

Technology divides the Smart TV Market into OLED, QLED, LED, Plasma, and Others. LED TVs are a cutting-edge, portable, and energy efficient opportunity to their older counterparts. Featuring a graceful and slender layout, those televisions comlement the style of any room whilst additionally offering multiple connectivity options, including HDMI, USB, Wi-Fi, and Bluetooth. With a seamless and immersive viewing experience, LED TVs are ideal for streaming movies or playing video games. Additionally, they're more environmentally friendly than older models due to their reduced electricity consumption, substantially reaping rewards individuals and organizations.

The Android Smart TV market is poised to revolutionize home entertainment with personalized and content experiences

The Smart TV Market is sub-segmented by Operating System into Android, Tizen OS, WebOS, Roku, Firefox, CastOS, Fire TV, and Others. The Android Smart TV market is expected to grow significantly due to superior capabilities like AI, voice popularity, and IoT connectivity. Android Smart TVs provide an immersive viewing experience, act as a central hub for entertainment and home automation, and are well-positioned for sustained innovation inside the future.

In the smart TV market, residential segment keeps the biggest share

By Application, the Smart TV Market is broken up into Residential and Commercial. The residential area dominates the Smart TV market, capuring the majority proportion. Smart TVs have turn out to be essential in modern households as buyer preferences shift closer to advanced entertainment solutions. Features like streaming capabilities, interactive content, and smart home integration drive the residential sectors include of these TVs. The demand for large displays and highly definition presentations amplifies the recognition of Smart TVs in home entertainment systems. With persistent innovations, together with voice popularity and connectivity with other smart devices, the residential section is likely to keep its lead, reflecting the main role of Smart TVs in contemporary home lifestyles.

China Smart TVs is growing significant market

By Country, Smart TV Market is split into North America (United States, Canada), Latin America (Mexico, Brazil), Europe (United Kingdom, Germany, France, Italy, Spain, Netherlands), Asia Pacific (China, India, South Korea, Australia), Middle East and Africa (South Africa, United Arab Emirates) and Rest of the World. Smart TV adoption in China is drastically growing due to improved disposable income, technological improvements, and a growing appetite for interactive and connected entertainment. Smart TVs in China have diverse features along with streaming services, integrated apps, and connectivity with different smart devices. The increasing demand for Smart TVs displays a shift toward more sophisticated home entertainment solutions. As a result of continuous innovations and their sizeable integration into households, their incidence is set to increase in addition, solidifying their pivotal role within the evolving Chinese customer electronics landscape.

Key Player

Panasonic Corporation, Sony Corporation, Samsung, Sharp Corporation, VIZIO Inc, Koninklijke Philips, Hitachi Ltd, Toshiba Visual Solutions, and Apple Inc are the important competition within the Smart TV Market globally.

Global Smart TV Market Share, By Technology (Percentage)

Note: The chart above shows dummy data and is only for illustration purposes. Please get in touch with us for the actual market size and trends.

Resolution Type – Market breakup from 5 viewpoints:

1.    HD TV
2.    Full HD TV
3.    4K UHD TV
4.    8K TV
5.    Others

Screen Sizes – Market breakup from 5 viewpoints:

1.    Below 32 inches
2.    32 to 45 inches
3.    46 to 55 inches
4.    56 to 65 inches
5.    Above 65 inches

Type – Market breakup into 2 viewpoints:

1.    Flat
2.    Curve

Technology – Market breakup from 5 viewpoints

1.    OLED
2.    QLED
3.    LED
4.    Plasma
5.    Others

Operating System – Market breakup from 8 viewpoints

1.    Android
2.    Tizen O.S.
3.    WebOS
4.    Roku
5.    Firefox
6.    CastOS
7.    Fire TV
8.    Others

Application – Market breakup from 2 viewpoints

1.    Residential
2.    Commercial

Country – Market breakup from 18 Country Smart TV Industry viewpoints

1.    North America

1.1    United States
1.2    Canada

2.    Latin America

2.1    Mexico
2.2    Brazil

3.    Europe

3.1    United Kingdom
3.2    Germany
3.3    France
3.4    Italy
3.5    Spain
3.6    Netherlands

4.    Asia Pacific

4.1    China
4.2    Japan
4.3    India
4.4    South Korea
4.5    Australia

5.    Middle East & Africa

5.1    United Arab Emirates
5.2    South Africa

6.    Rest of the World

All companies have been covered from 3 viewpoints:

•    Overview
•    Recent Development
•    Revenue 

Prominent Players in the global Smart TV market include

1.    Panasonic Corporation
2.    Sony Corporation
3.    Samsung 
4.    Sharp corporation
5.    VIZIO Inc
6.    Koninklijke Philips
7.    Hitachi Ltd
8.    Toshiba Visual Solutions
9.    Apple Inc.

Report Details: