What is Global Smart Connected TV Market?
The Global Smart Connected TV Market is a dynamic and rapidly evolving sector that encompasses a wide range of smart televisions that are connected to the internet, allowing users to stream music and videos, browse the internet, and view photos. These TVs are equipped with an Ethernet port and/or built-in Wi-Fi that allows them to connect to the internet. They also come with a variety of apps pre-installed, similar to smartphones and tablets. The market is driven by the increasing adoption of online streaming services, advancements in technology, and the growing demand for high-quality picture and sound. However, the market also faces challenges such as high costs and the risk of cyber threats.
32 inch, 40 inch, 42 inch, 55 inch, ≥60 inch in the Global Smart Connected TV Market:
The Global Smart Connected TV Market is segmented based on the size of the TV, including 32 inch, 40 inch, 42 inch, 55 inch, and ≥60 inch. The 32 inch segment is popular among consumers due to its compact size and affordability, making it suitable for small rooms or apartments. The 40 inch and 42 inch segments offer a balance between size and price, making them a popular choice for medium-sized rooms. The 55 inch and ≥60 inch segments are preferred by consumers who want a cinematic experience at home, with these larger TVs often featuring advanced technologies such as 4K and HDR. However, they are also the most expensive. Each segment has its own unique set of challenges and opportunities, and manufacturers need to carefully consider these factors when developing their products.
Family, Public in the Global Smart Connected TV Market:
The Global Smart Connected TV Market finds its usage in various areas, notably in families and public spaces. In families, these TVs are used for entertainment purposes, such as watching movies, playing games, and streaming music. They also serve as a medium for family members to share photos and videos, and to connect with each other through social media apps. In public spaces, smart connected TVs are used in a variety of ways. For example, they are used in restaurants and cafes to display menus and promotional videos, in offices for presentations and video conferencing, and in retail stores to showcase product information and advertisements. The usage of smart connected TVs in these areas is expected to grow as more businesses recognize their potential to enhance customer experience and improve operational efficiency.
Global Smart Connected TV Market Outlook:
The global Smart Connected TV market has shown promising growth, with its value standing at US$ 106430 million in 2022. It is projected to reach US$ 115820 million by 2029, growing at a CAGR of 1.2% during the forecast period of 2023-2029. The major consumer markets for Smart Connected TVs are the Asia-Pacific region (especially China), North America, and Europe. In 2019, China alone accounted for 27.92 percent of the global total. The market is dominated by a few key players, with the top 5 manufacturers accounting for 71.46% of the global market revenue in 2019, and the top 10 accounting for 90.49%. This indicates a high level of market concentration, with these leading players having a significant influence on market trends and developments.
| Report Metric | Details |
| Report Name | Smart Connected TV Market |
| Accounted market size in 2022 | US$ 106430 in million |
| Forecasted market size in 2029 | US$ 115820 million |
| CAGR | 1.2% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Samsung Electronics, LG Electronics, TCL, Hisense, Sony, Skyworth, Foxconn (Sharp), Xiaomi, Vizio, Haier, Panasonic, Changhong, Konka |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
