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

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

The North America smart TV market size reached US$ 58.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 133.4 Billion by 2028, exhibiting a growth rate (CAGR) of 14.4% during 2023-2028. The rising penetration of high-speed internet, rapid digitization, and increasing viewership of online content represent some of the key factors driving the market.

Smart television (TV), or connected TV, is a next-generation electrical device with internet connectivity. It is installed with a TV operating system, extra hardware and connections, and a graphical user interface (GUI) that aids in streaming content from internet video services. It also comprises built-in Wi-Fi that eliminates the need for a set-top box. It offers multiple exciting features, such as web 2.0, access to streaming services, and on-demand online and offline content from different applications. It also provides advanced features, such as voice command, screen sharing, and video calling, which create a more enticing environment for the users. Besides this, a smart TV can wirelessly connect to smartphones, tablets, keyboards, mouse, and various other input devices that enable text entry, navigation, and enhanced usability and control. At present, smart TV is being increasingly used in homes, schools, hospitals, and public and private organizations across the North American region.

North America Smart TV Market Trends:
Presently, the rising reliance on high-speed internet connectivity, along with the increasing viewership of online content, represents one of the key factors positively influencing the market in the North American region. Additionally, the growing sales of streaming devices and the easy availability of content on over-the-top (OTT) platforms are currently creating a positive outlook for the market. Apart from this, smart TVs are loaded with numerous advanced features and applications, such as improved viewing experience and color accuracy, which is catalyzing their demand in the region. Furthermore, the thriving electronics industry and the incorporation of technological innovations, such as voice control and artificial intelligence (AI), with smart TVs are increasing product sales in the region. In addition, considerable usage of digital and smart alternatives is driving the market. Moreover, there is an increase in the demand for premium and luxurious consumer products. In addition, the easy availability of products across offline and online distribution channels are offering a favorable market outlook in the region. Besides this, the rising focus and increasing investments by leading market players in marketing strategies, such as social media promotions and celebrity endorsement, are expected to propel the market growth in the North American region.

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

Resolution Type Insights:

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

The report has provided a detailed breakup and analysis of the North America smart TV market based on the resolution type. This includes 4K UHD TV, HD TV, Full HD TV, and 8K TV. According to the report, 4K UHD TV represented the largest segment as they offer higher pixel density, enhanced color accuracy, and produce clearer and better-defined pictures than regular TVs.

Screen Size Insights:

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

The report has also provided a detailed breakup and analysis of the North America smart TV market based on the screen size. This includes below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, and above 65 inches. According to the report, smart TVs of 32 to 45 inches screen size accounted for the largest market share as they are budget-friendly and give superior picture quality at affordable rates.

Screen Type Insights:

Flat
Curved

A detailed breakup and analysis of the North America smart TV market based on the screen type has also been provided in the report. This includes flat and curved screens. According to the report, flat-screen smart TVs accounted for the largest market share as they are easy to install on the wall.

Technology Insights:

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

A detailed breakup and analysis of the North America smart TV market based on the technology has also been provided in the report. This includes LCD (Liquid Crystal Display), LED (Light Emitting Diode), OLED (Organic Light Emitting Diode), and QLED (Quantum Dot Light Emitting Diode). According to the report, LED smart TVs represented the largest segment as they consume less power and help consumers save on electricity bills.

Platform Insights:

Android
Roku
WebOS
Tizen OS
iOS
MyHomeScreen
Others

A detailed breakup and analysis of the North America Smart TV market based on the platform has also been provided in the report. This includes Android, Roku, WebOS, Tizen OS, IoS, MyHomeScreen, and others. According to the report, Android accounted for the largest market share as it provides play store access for application downloads and numerous other features, such as voice search and content aggregation from multiple media apps.

Distribution Channel Insights:

Offline
Online

The report has also provided a detailed breakup and analysis of the North America smart TV market based on the distribution channel. This includes offline and online. According to the report, the offline distribution channel accounted for the largest market share as it provides instant product delivery and assists consumers in getting personalized recommendations from sales staff.

Application Insights:

Residential
Commercial

The report has also provided a detailed breakup and analysis of the North America smart TV market based on the application. This includes residential and commercial. According to the report, residential spaces represented the largest market segment.

Country Insights:

United States
Canada
Mexico

The report has also provided a comprehensive analysis of all the major regional markets that include the United States, Canada, and Mexico. According to the report, the United States was the largest market for smart TV. Some of the factors driving the US smart TV market included the high expenditure capacity of individuals, rising usage of high-speed network connectivity, and the expansion of schools and hospitals in the country.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the North America smart TV market. Detailed profiles of all major companies have also been provided.

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