Global Smart Tv Market 2024 , Forecast To 2033
7 Mar, 2024
The smart TV market (2) has experienced strong growth, rising from $200.18 billion in 2023 to $214.4 billion in 2024 at a CAGR of 7.1%, driven by technological advancements and content streaming. Looking forward, the market is expected to continue its growth trajectory, reaching $279.59 billion in 2028 at a CAGR of 6.9%, fueled by 5G connectivity and smart home integration, with major trends including HDR and Dolby Vision integration and AI-powered voice control.
Global Smart TV Market Key Driver
The rising popularity of video-on-demand services is a key factor driving the growth of the smart TV market (6). Video on Demand (VoD) is one of the innovative features that Internet Protocol TV (IPTV) gives (7). VoD gives consumers a range of available videos to choose from, and the video is transmitted via the Real-Time Streaming Protocol (8). In recent years, VOD has gained tremendous popularity, and this has resulted in higher smart TV adoption rates (9). For instance, in January 2023, according to Netflix Inc., a US-based provider of subscription video-on-demand over-the-top streaming service, the total number of paid memberships in 2021 was 221,844,000, and in 2022, it climbed to 230,747,000 (10). Therefore, the rising trend of video-on-demand services is expected to drive the smart TV market growth (11).
Get A Free Sample Of The Global Smart TV Market ReportGlobal Smart TV Market Segments
The smart tv market covered in this report is segmented –
1) By Product Type: 4K UHD TV, Full HD TV, HDTV, 8K TV
2) By Panel Type: LCD, LED, OLED, QLED
3) By End User: Home, Offices, Education Institutions, Other End-Users
By Geography: The countries covered in the smart tv market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
Asia-Pacific was the largest region in the smart TV market in 2023. North America was the second-largest region in the smart TV market. The regions covered in the smart tv market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Smart TV Industry Players
Sony Corporation; LG Corporation; TCL Corporation; Koninklijke Philips NV; Haier Electronics Group Co. Ltd.; Panasonic Corporation; Samsung Electronics Co. Ltd.; Apple Inc.; Toshiba Corporation; Insignia Systems Inc.; Hisense Group Co. Ltd.; Intex Technologies Ltd.; Vizio Inc.; Haier Group Corporation; Intel Corporation; Microsoft Corporation; Boxee Inc.; Cable Television Laboratories Inc.; Logitech International SA; Nyxio Technologies Corp.; Sharp Corporation; Sichuan Changhong Electric Co. Ltd; Funai Electric Co. Ltd.; JVC Kenwood Holdings Inc.; Loewe Technology GmbH; Mitsubishi Electric Corporation; NEC Corporation; Onida Electronics; Sanyo Electric Co. Ltd.; Seiki Digital; Skyworth Group Ltd.; Vestel Elektronik Sanayi ve Ticaret AS; Xiaomi Inc.; Grundig Intermedia GmbH; Hisense Kelon Electrical Holdings Co. Ltd.
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Smart TV Market Overview
A smart TV is a digital TV that is connected to the internet and can stream various content from different applications, access streaming services, and can connect to other wireless devices. Smart TV is used in homes, offices, and education sectors.