The global Smart TVs market is projected to witness a steady growth during the forthcoming years. It is used to connect different wireless devices along with enables connection to Youtube, Hulu, Netflix, and Vimeo, and social media sites like Facebook, Instagram, and Twitter. The advent of 4k resolution is surging adoption of smart TV's.
Rise in disposable income and growing internet penetration is driving the market for smart TVs. Amazon Fire TV, Apple TV, and Google Chromecast are a few examples of smart streaming devices. Smart TVs are equipped with technology to support Wifi, Ethernet, USB, Bluetooth, HDMI, flash memory cards coaxial cable, and other audio-video connections. Smart TVs also permits access to on-demand video services, music, access to pictures, and video on connected storage devices. However, the enormous cost of a smart TV and high acceptance rate of smartphones and computers over smart TVs are some of the major factors that are likely to hamper the progression of the smart TV market in upcoming years.
The Asia Pacific region is estimated to be the fastest growing attributed to the altering lifestyle of the middle-income group of population. The shift is being driven by the availability of cheaper broadband, the popularity of streaming services and the price gap between smart and conventional sets.
International Data Corporation (IDC) says that 2018 recorded shipment of Xiaomi smart television 1.4 million units in India. They introduced their first Mi TV in February. An advance in OTT-content players like Netflix, Sony Liv Amazon, Hotstar, and a host of other streaming solutions is further aiding to propel the growth of the global smart TV market.
The market is still in its nascent stage and the industry players exhibit an eagerness to initiate a widespread adoption of UHD screens. Some of the key players operating in the smart TV market consist of LG Electronics Inc., Westinghouse Electric Corporation, Samsung Electronics Co. Ltd, Panasonic Corporation, Sony Corporation, Apple Inc., Vizio Inc., Hisense Group Co. Ltd, TCL Corporation, Koninklijke Philips NV, Insignia Systems Inc., Hitachi Ltd, and Haier Group Corporation among others. North America accounts for the largest market share owing to the growing demand for smart TVs among the millennial population and advancement in information technology. rising popularity for smart home appliances is burgeoning adoption of smart TVs.
Leading players of Smart TVs including:
• Guangdong Changhong Electronics Co., Ltd. (China)
• Haier Group (China)
• Hisense International (China)
• Hitachi, Ltd. (Japan)
• Hong Kong Skyworth Digital Holdings Co., Ltd. (China)
• Koninklijke Philips N.V. (The Netherlands)
• Konka (China)
• LeEco (China)
• LG Electronics (South Korea)
• Panasonic Corporation (Japan)
• Samsung Electronics Co., Ltd. (South Korea)
• Sharp Corporation (Japan)
• Sony Corporation (Japan)
• TCL Multimedia Technology Holdings Ltd. (China)
• Toshiba Corporation (Japan)
• Videocon Industries Ltd. (India)
• VIZIO (USA)
• Xiaomi, Inc. (China)
Market split by Type, can be divided into:
• Android System
• IOS System
Market split by Application, can be divided into:
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Research Support Specialist, USA