The global smart tv market is estimated to arrive at 1.18 billion units by 2028. It is projected to develop by 20.8% CAGR from 2021 to 2028.
The smart TVs are incorporated through internet connectivity features. It provides a variety of connectivity as well as computing opportunities, which facilitate users to search, share, browse and download online content. The companies are concentrating on additionally improving the screening experience. This is expected to assist the smart tv market to achieve huge grip, during the near future.
Rising consumer liking for OLED and QLED display in addition to the usual promotion of 8K and 4K resolution television sets by well-known as well as new companies are the reasons likely to support the universal demand for smart TVs during the forecast period.
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Further key findings from the report suggest:
• Asia Pacific is expected to demonstrate maximum, more than 13.0% CAGR, during the subsequently seven years. It is credited to growing acceptance of OTT VoD platforms, like Amazon Prime Video and Netflix along with the improved consumer’s capability for the expenditure. Besides, the accessibility for the huge quantity of supporting content, like HD games and videos, is more catalyzing the enlargement of the local market for smart TV
• In contrast to OLED screens, QLED TVs have achieved vast importance due to their benefits like better presentation angles, economical decline in power utilization by means of superior brightness, ease in selecting color filters, and affordability
• The 4K UHD TV section is estimated to lead the global smart tv market during the subsequently seven years, in terms of the technology. Mainly, this can be credited to the decreasing prices of smart TVs, which are catching the attention of the customers from rising markets
• The global pandemic of Covid-19 has significantly affected the habits as well as everyday life of the customers. The stay-at-home instructions and the Work from Home (WFH) permission have additionally initiated an unmatched escalation in the utilization of in-home online videos. These factors are projected to increase the market for smart TV
Million Insights segmented the global smart tv market based on Screen Size, Screen Type, Resolution, and Region.
Smart TV Resolution Outlook (Volume, Million Units; Revenue, USD Billion, 2016 - 2028)
• 4K UHD TV
• Full HD TV
• 8K TV
Smart TV Screen Size Outlook (Volume, Million Units; Revenue, USD Billion, 2016 - 2028)
• Below 32 Inches
• 32 to 45 Inches
• 46 to 55 Inches
• 56 to 65 Inches
• Above 65 Inches
Smart TV Screen Type Outlook (Volume, Million Units; Revenue, USD Billion, 2016 - 2028)
Smart TV Regional Outlook (Volume, Million Units; Revenue, USD Billion, 2016 - 2028)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Various companies for smart tv market are:
• Toshiba Corporation
• Videocon Industries Ltd.
• Sony Corporation
• LG Electronics Inc.
• Haier Electronics Group Co., Ltd.
• Sansui Electric Co. Ltd.
• VIZIO Inc.
• Samsung Electronics Co. Ltd