iCrowdNewswire Mar 2, 2021 6:10 AM ET
Smart TV is defined as a digital television with integrated internet and interactive features. It is a mixture of computer & social TV which allows users to use all the features of computers or smartphones on TV. This is also called as connected TV. These are responsible for transforming the television industry by providing a broad spectrum of innovative features via internet-connected services that were not available with traditional CRT televisions. Smart TVs have Wi-Fi capability or an Ethernet port which allows users to stay connected to the internet.
The shifting consumer preferences towards online content as a result of increasing penetration of high speed internet across the globe are expected to propel the growth of global smart TV market throughout the forecast period. Various providers are teaming up with streaming device with streaming device manufacturers. For Example, Sharp Corporation had incorporated Roku in its smart TV sets so that customers can personalize the screens of their TV sets & access the Roku channel store.
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The smart TV manufacturers are competing for the latest innovations in the user interface; content aggregation & application development, such as smart TVs come with an operating system which can run apps and widgets that can stream videos & music. Various regional players are focusing on expanding their presence across the globe to gain market share. The Smart TV industry is witnessing intense rivalry among premium segment as players have exhibited keenness towards introducing & promoting Ultra High Definition (UHD) screens. This is expected to boost the target market growth over the forecast period.
Lack of high speed internet in merging economies is expected to hamper the global smart TV market growth during this forecast period.
The APAC dominated the smart TV market with a revenue share of over 35% in the year 2017. The increase in regional demand for 4K televisions as customers is choosing UHD TVs owing to their sleek design & better image quality. The growing demand for these sets has created opportunities for the content providers to deliver content in better resolution & recording facilities which can support Smart TV market.
China dominated the market, supported by the emergence of new entrants like Hisense Co., Ltd. & TCL Corporation, who made the competition fierce for the major key players. A few Chinese brands such as TCL Corporation have also entered in the North America region, thereby ensuring a global coverage for these brands.
Market Key Players
Several key operating players are listed in this report such as Sony Corporation, Samsung Electronics Co. Ltd, LG Electronics Inc., Panasonic Corporation, IZIO Inc, Apple Inc, Hisense Group Co. Ltd, Sharp Corporation, Koninklijke Philips NV, TCL Corporation, Insignia Systems Inc., etc.
- 4K UHD TV
- Full HD TV
- 8K TV
By Screen Size
- Below 32 inches
- 32 to 45 inches
- 46 to 55 inches
- 56 to 65 inches
- Above 65 inches
By Panel Type
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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