Smart TV Market Size, Share, Growth & Industry Trends [2031]

Segments - Smart TV Market by Resolutions (HDTV, Full HD TV, 4K UHD TV, and 8K TV), Sizes (Above 65 inches, 56-65, 46-55, 32-45, and Below 32 inches), Types (Curved and Flat), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

The Global Smart TV Market size was valued at USD 197.8 Billion in 2022 and is expected to surpass USD 522.63 Billion by 2031, expanding at a CAGR of 11.4% during the forecast period, 2023–2031. The growth of the market is attributed to technological advancements, rising disposal income, and shifting consumer preferences towards high speed internet.

Smart TV is a traditional television set with interactive web 2.0 and integrated internet features. Rising demand for online streaming has provided opportunities for service providers to distribute content through internet and take risks in the Over the Top (OTT) space. It offers complete home entertainment to the consumers.

Market Trends, Drivers, Restraints, and Opportunities

Increasing preference of consumers towards smart TV over convectional cable TV is anticipated to propel the market.
Rising demand for online streaming has provided opportunities for service providers to distribute content through internet and gamble in OTT space. This is expected to boost the smart TV market.
Increasing demand for personalized entertainment is anticipated to fuel the market growth.
A major challenge faced by the smart TV market is taxation. Smart TVs come under the highest tax slab in GST. This, in turn, hampers the market.

Scope of Smart TV Market Report

The report on the global smart TV market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Smart TV Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Resolutions (HDTV, Full HD TV, 4K UHD TV, and 8K TV), Sizes (Above 65 inches, 56-65, 46-55, 32-45, and Below 32 inches), Types (Curved and Flat),
Regional Scope	Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered	Samsung Electronics Co. Ltd, LG Electronics, Inc., Videocon Industries Limited, Sony Corporation, and Panasonic Corporation.

Smart TV Market Segment Insights

Based on screen size, the global smart TV market is segregated as above 65 inches, 56-65, 46-55, 32-45, and below 32 inches. The falling prices and installation of 4K technology have caused a shift in customers’ preferences in screen size. Tempted by striking prices and features, the consumer is automatically shifting to large display screens. The 46 to 55 inch display segment is estimated to hold a large share in the market. The 4K display is used in large TVs for enhanced picture quality. Small screen sizes are not able to display the improvements in picture quality given by 4K technology.

On the basis of resolution, the global smart TV market is fragmented as HDTV, Full HD TV, 4K UHD TV, and 8K TV. The 4K resolution segment is anticipated to expand at a rapid CAGR during the forecast period, 2021–2028. 4K smart TVs are rapidly gaining importance due to their decreasing prices.

The advanced QLED technology can display bright and accurate colors with large color volume. Presently, OLED screens are costlier than QLED screens, as they are difficult to produce.

Based on types, the global smart TV market is classified as curved and flat. The flat segment is anticipated to hold a large revenue share during the forecast period, 2021–2028. The flat display segment is dominating the market, due to high curved panels. Customers prefer flat screen over curved screen, as it is easier to mount on the wall.

The manufacturers are focusing on curved panels, as the curved screens offer enhanced viewing angles as compared to flat displays. The curved screens eliminate image degradation as the angle makes it easier to see more images from the side-view. However the manufacturers have introduced flexible TVs that offer curved as well as flat TVs.

In terms of regions, the global smart TV market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is projected to hold a large share of the total revenue during the forecast period, 2021–2028. Due to slim design and high image quality, there is rise in demand for 4K TVs in the region. Increasing demand has created opportunities for content providers to provide content in high resolution and recording, which supports 4K technology.

China is anticipated to dominate the market. Some brands such as TCL Corporation have arrived in North America, thus ensuring global coverage of their brand. TCL Corporation has aligned with Roku, Inc. to develop co-branded smart TVs called TCL Roku TV. It declared a partnership with UCLA Athletics and became the official sponsor of Bruins basketball and football teams. In 2020, Samsung incorporated Google Assistance in its smart TVs. The increasing adoption of smart TVs in different segments resulted in rising demand for TVs with enhanced sound, smooth design, and high image quality.

Segments

Resolutions

HDTV
Full HD TV
4K UHD TV
8K TV

Sizes

Above 65 inches
56-65
46-55
32-45
Below 32 inches

Types

Curved
Flat

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Competitive Landscape

Key players in the global smart TV market include Samsung Electronics Co. Ltd, LG Electronics, Inc., Videocon Industries Limited, Sony Corporation, and Panasonic Corporation.

China is entering into the market with hi-tech and advanced products in affordable prices. Haier Electronics Group Co, Ltd., TCL Corporation, and Hisense Group are the top manufacturers in the market.

Manufacturers are focusing on developing their own operating systems. In 2016, LG Electronics has launched a smart TV with WebOS 3.0, which includes advanced features like magic mobile connection, magic remote, and magic zoom.

Smart TV Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart TV Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Smart TV Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Smart TV Market - Supply Chain
  4.5. Global Smart TV Market Forecast
     4.5.1. Smart TV Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Smart TV Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Smart TV Market Absolute $ Opportunity
5. Global Smart TV Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Smart TV Market Size and Volume Forecast by Types
     5.3.1. Curved
     5.3.2. Flat
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Smart TV Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Smart TV Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Smart TV Demand Share Forecast, 2019-2026
7. North America Smart TV Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Smart TV Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Smart TV Market Size and Volume Forecast by Types
     7.4.1. Curved
     7.4.2. Flat
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Smart TV Demand Share Forecast, 2019-2026
8. Latin America Smart TV Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Smart TV Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Smart TV Market Size and Volume Forecast by Types
     8.4.1. Curved
     8.4.2. Flat
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Smart TV Demand Share Forecast, 2019-2026
9. Europe Smart TV Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Smart TV Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Smart TV Market Size and Volume Forecast by Types
     9.4.1. Curved
     9.4.2. Flat
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Smart TV Demand Share Forecast, 2019-2026
10. Asia Pacific Smart TV Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Smart TV Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Smart TV Market Size and Volume Forecast by Types
     10.4.1. Curved
     10.4.2. Flat
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Smart TV Demand Share Forecast, 2019-2026
11. Middle East & Africa Smart TV Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Smart TV Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Smart TV Market Size and Volume Forecast by Types
     11.4.1. Curved
     11.4.2. Flat
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Smart TV Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Smart TV Market: Market Share Analysis
  12.2. Smart TV Distributors and Customers
  12.3. Smart TV Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)