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

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

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 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.

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.

Renub Research report titled “Smart TV Market Global Forecast by Resolution Type (HD TV, FULL HD TV, 4K UHD TV, 8K TV, and Others), Screen sizes (Below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, and above 65 inches), Type (Flat and Curve), Technology (OLED, QLED, LED, Plasma and Others), Operating System (Android, Tizen O.S., WebOS, Roku, Firefox, CastOS, Fire TV and Others), Application (Residential and Commercial), Country (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 & Africa (South Africa, United Arab Emirates) and Rest of the World), Companies (Panasonic Corporation, Sony Corporation, Samsung, Sharp corporation, VIZIO Inc, Koninklijke Philips, Hitachi Ltd, Toshiba Visual Solutions and Apple Inc)” provides a detailed and comprehensive insight of the Smart TV Industry.

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.