The global smart TV market is segmented into technology type which includes Liquid Crystal Display (LCD), Plasma Display Panel (PDP), Light Emitting Diodes & Organic Light Emitting Diode (LED & OLED). Among these segments, Light Emitting Diodes & Organic Light Emitting Diode (LED & OLED) segment is expected to occupy the top position in the market during the forecast period. However, LED televisions and LCD televisions both offer best picture quality and entertainment experience.
Global smart TV market is expected to register a CAGR of 8.5% over the forecast period. Moreover, the global smart TV market was valued at USD 260.2 Billion in 2016. The market is expected to expand on the back of growing adoption of internet connected devices.
The home segment by end user is likely to grow at a remarkable pace during the forecast period. This growth of home segment can be attributed to rising demand for personalized entertainment and video gaming devices at homes. A number of advantages offered by smart TVs are access to broadcast TV channels, internet-based services and video on demand are also driving the growth of this segment.
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Increasing technological advancements
Continuous technological advancements with consumer electronics are major factors which are bolstering the growth of global smart TV market. Further, features offered by smart TVs such as internet accessibility, gaming, camera and more are attracting consumers globally. Moreover, growing adoption of advanced and smart technologies all over the world is believed to fuel the growth of global smart TV market.
Rising disposable income of the consumers
Increasing disposable income of the consumers and increasing expenditure on consumer electronics are some of the major factors which are impelling the demand for smart TVs. Further, growing middle class and consumer’s inclination towards luxurious lifestyle are also boosting the demand for smart TVs across the globe.
Although, high cost of smart TV, and high adoption rate of computers over smart TVs are some of the factors that are likely to hinder the growth of the smart TV market in the near future.
The report titled “Smart TV Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global smart TV market in terms of market segmentation by technology, by distribution channel, by size, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global smart TV market which includes company profiling of Apple Inc., Advanced Micro Devices Inc., Koninklijke Philips N.V., Intel Corp., LG Electronics Inc., Microsoft Corporation, Panasonic Corporation, Samsung, Sony Corporation and Toshiba Corp. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart TV market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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