Smart TV Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Smart TV Market Trends and Forecast

The future of the global smart TV market looks promising with opportunities in the online and offline distribution channels. The global smart TV market is expected to reach an estimated $369.7 billion by 2028 with a CAGR of 9.7% from 2023 to 2028. The major drivers for this market are increasing disposable income of consumers and easy availability of high-speed internet, coupled with growing consumer demand for web-enabled online platforms across the globe.

A more than 150-page report is developed to help in your business decisions. A sample figure with some insights is shown below.

Smart TV Market by Segment

The study includes trends and forecast for the global smart TV market by resolution, screen size, distribution channel, and region, as follows:

Smart TV Market by Resolution [Shipment Analysis by Value from 2017 to 2028]:

• 4K UHD TV
• HDTV
• Full HD TV
• 8K TV

Smart TV Market by Screen Size [Shipment Analysis by Value from 2017 to 2028]:

• Below 32 inches
• 32 to 45 inches
• 46 to 55 inches
• 56 to 65 inches
• Above 65 inches

Smart TV Market by Distribution Channel [Shipment Analysis by Value from 2017 to 2028]:

• Online
• Offline

Smart TV Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Smart TV Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, smart TV companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart TV companies profiled in this report include-

• Haier
• Intex Technologies
• Koninklijke Philips
• LG Electronics
• Panasonic Corporation
• Samsung Electronics
• Sansui Electric
• Sony Corporation
• TCL Electronics
• Toshiba Solutions
• Hisense International

Smart TV Market Insights

• Lucintel forecasts that full HD TV is expected to remain the segment with the highest growth over the forecast period because of its high-resolution picture quality. Also, full HD TV provides a resolution of 1920 x 1080 pixels, which is considered as the industry baseline.
• Within this market, offline will remain the largest distribution channel segment as consumers prefer to buy electronic products from brick-and-mortar stores so that they can immediately check the product quality and compare it with other similar products.
• APAC will remain the largest segment over the forecast period due to growing adoption of smart televisions along with increasing demand for 4K display technology owing to consumer inclination towards better quality and sleek design.

Features of the Smart TV Market

• Market Size Estimates: Smart TV market size estimation in terms of value.
• Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Smart TV market size by various segments, such as by resolution, screen size, distribution channel, and region
• Regional Analysis: Smart TV market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different resolutions, screen sizes, distribution channels, and regions for the smart TV market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the smart TV market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the smart TV market size?

Answer: The global smart TV market is expected to reach an estimated $369.7 billion by 2028.

Q2. What is the growth forecast for smart TV market?

Answer: The global smart TV market is expected to grow with a CAGR of 9.7% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the smart TV market?

Answer: The major drivers for this market are increasing disposable income of the consumers and easy availability of high-speed internet, coupled with growing consumer demand for web-enabled online platforms across the globe.

Q4. What are the major segments for smart TV market?

Answer: The future of the smart TV market looks promising with opportunities in the online and offline distribution channels.

Q5. Who are the key smart TV companies?

Answer: Some of the key smart TV companies are as follows:

• Haier
• Intex Technologies
• Koninklijke Philips
• LG Electronics
• Panasonic Corporation
• Samsung Electronics
• Sansui Electric
• Sony Corporation
• TCL Electronics
• Toshiba Solutions
• Hisense International

Q6. Which smart TV segment will be the largest in future?

Answer:Lucintel forecasts that full HD TV is expected to remain the segment with the highest growth over the forecast period because of its high-resolution picture quality. Also, full HD TV provides a resolution of 1920 x 1080 pixels, which is considered as the industry baseline.

Q7. In smart TV market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest segment over the forecast period due to growing adoption of smart televisions along with increasing demand for 4K display technology owing to consumer inclination towards better quality and sleek design.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1. What are some of the most promising, high-growth opportunities for the global smart TV market by resolution (4K UHD TV, HDTV, full HD TV, and 8K TV), screen size (below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, and above 65 inches), distribution channel (online and offline), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity did occur in the last five years and how did they impact the industry?

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