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A smart TV is a television that can be connected to the Internet and used independently. Although smart TVs are now offered separately, any traditional TV with a set-top box can be converted into a smart TV. Over-the-top video from online streaming providers can be effortlessly watched on smart TVs simply connecting to the internet. Customers enjoy this service because it provides on-demand streaming content that can be seen on a large screen rather than being restricted to our computers or mobile phones. The section analysis of the smart TV market report is offered based on resolution, screen size, screen type, and region.
Smart TV Market Scope and Research Methodology:
The report's goal is to analyse and forecast the Smart TV market size. In order to correctly depict the competition scenario for the worldwide Smart TV industry, the market research provides strategic profiling of important market participants. It contains a thorough examination of new product launches, acquisitions, mergers and acquisitions, joint ventures, brands, and important players in the Smart TV business. The research contains information on industry trends and developments, market dynamics and their potential, assisting specialists in staying current on the most recent trends and sector performance, estimating growth and fall in Smart TV market share during the forecast period. Primary and secondary research approaches were used to have a thorough understanding of the Smart TV industry. The report's goal is to analyse and forecast the Smart TV market size. In order to correctly depict the competition scenario for the worldwide Smart TV industry, the market research provides strategic profiling of important market participants. It contains a thorough examination of new product launches, acquisitions, mergers and acquisitions, joint ventures, brands, and important players in the Smart TV business. The research contains information on industry trends and developments, market dynamics and their potential, assisting specialists in staying current on the most recent trends and sector performance, estimating growth and fall in Smart TV market share during the forecast period. Primary and secondary research approaches were used to have a thorough understanding of the Smart TV industry.
Smart TV Market Report Overview:
The research comprehensively covers insight analysis in light of the Smart TV Market, as well as its ever-changing patterns, industry environment, and all leading market elements. The Smart TV Market study also includes a complete analysis of leading players.
Smart TV Market Size was volume at 393.84 Million Units in 2022. Global Smart TV Market size is estimated to grow at a CAGR of 21 % over the forecast period.
Smart TV Market Dynamics:
Various smart TV companies' adoption of Android as an operating system has made it simple for customers to access major OTT sites such as Netflix, Hulu, and YouTube. Furthermore, the Google platform gives users access to popular Android-based applications such as Facebook, Twitter, and Google Play. Furthermore, Android TVs feature voice commands, which may be accessed using magic remotes. For example, the Sony One-Flick remote includes a microphone that allows users to search for their favourite channels and shows using voice commands. Along with applications, Android has games, music, and movies.
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Smart TV Market Segmentation:
In terms of resolution, 4K HDTVs dominated the smart TV industry in 2020, accounting for 40% of the market. 4K TVs have gained popularity due to their continually lowering prices. According to the Consumer Technology Association, sales of these televisions have surpassed those of HDTVs. The use of quantum dot and nanotechnology by prominent manufacturers like as Samsung Electronics Co., Ltd., Sony Corporation, and others to improve the image quality of their goods in this area has resulted in increased demand.
In 2020, the 8K TV market is estimated to increase at a CAGR of 20%. This is due to a rise in client demand for high-resolution televisions. 8K TVs have approximately 33 million pixels, which is much greater than the 8 million pixels of a 4K HDTV. Companies are increasing their 8K series portfolios by releasing equipment with enhanced AI capabilities that are aimed to deliver dynamic sound and the greatest picture quality. These factors are projected to boost the segment's growth during the forecast period.
In 2020, the flat screen type category dominated the market with a 90% share. The huge income creation can be attributed to the cheaper cost of flat-panel TV sets as compared to their curved counterparts. The majority of users prefer flat screens since they are easier to mount on the wall. The mirror effect given by curvature, in which light pouring off the display covers the image, can also contribute to the increased demand for flat screens. These factors are propelling the segment's expansion in the smart TV market.
The curved screen market is estimated to increase at an 8% CAGR over the forecast period. Curved panels offer a more immersive experience as well as better viewing angles. Curved screens also help to reduce video degradation caused by viewing off-center. Market sellers are also introducing flexible TV panels that can convert flat screens into curved ones. These factors are projected to boost the segment's growth during the forecast period.
Smart TV Market Key Players:
LG Electronics Inc., Ltd.
Samsung Electronics Co. Ltd.
Sony Corporation
VIZIO Inc.
Videocon Industries Ltd
Xiaomi
Panasonic Corporation
Apple Inc.
Hisense Group Co. Ltd.
Koninklijke Philips NV
TCL Corporation
Insignia Systems Inc.
Haier Group Corporation
Hitachi Ltd.
Westinghouse Electric Corporation
Smart TV Market Regional Analysis:
The report is divided into several key countries, with market size, growth rate, import and export of Smart TV market in these countries, which cover North America, the United States, Canada, Mexico, Europe, the United Kingdom, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and the Middle East and Africa.
Key Questions answered in the Smart TV Market Report are:
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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