What is Global Smart Connected TV Market?
The Global Smart Connected TV Market is an expansive and dynamic sector that has seen significant growth in recent years. These smart TVs, which are essentially television sets with integrated internet capabilities, allow users to stream music and videos, browse the web, and view photos. They also offer a range of other services such as gaming, using built-in apps, and even controlling a whole host of smart home devices. The market's value stood at a whopping US$ 106430 million in 2023 and is projected to reach US$ 115820 million by 2030. This growth is driven by the increasing demand for advanced consumer electronics, the proliferation of high-speed internet, and the growing adoption of smart homes.
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 screen sizes such as 32 inch, 40 inch, 42 inch, 55 inch, and ≥60 inch. Each segment has its unique market dynamics and consumer preferences. For instance, the 32-inch segment is popular among consumers looking for compact and affordable smart TVs for smaller rooms or apartments. On the other hand, the 55-inch and ≥60 inch segments are favored by consumers seeking a cinematic experience in their living rooms. These larger TVs are often equipped with advanced features like 4K resolution, HDR, and smart home integration, making them a preferred choice for high-end consumers.
Family, Public in the Global Smart Connected TV Market:
Smart Connected TVs are not just limited to personal use; they have found their way into public spaces as well. In families, these TVs serve as a hub for entertainment, education, and even work. They allow family members to stream their favorite shows, play games, browse the internet, and even attend virtual classes or meetings. In public spaces like hotels, restaurants, and airports, smart TVs provide patrons with entertainment options and real-time information. They can also be used for advertising and promotional purposes, making them a valuable tool for businesses.
Global Smart Connected TV Market Outlook:
The future of the Global Smart Connected TV Market looks promising, with a steady growth rate of 1.2% expected from 2024 to 2030. The market is primarily dominated by the Asia-Pacific region, particularly China, North America, and Europe. In 2019, China alone accounted for 27.92% of the global market. The market is also highly concentrated, with the top 5 manufacturers accounting for 71.46% of the global market revenue, and the top 10 manufacturers accounting for 90.49%. This concentration indicates a high level of competition among the leading players, who are constantly innovating to offer consumers advanced features and better user experiences.
| Report Metric | Details |
| Report Name | Smart Connected TV Market |
| Accounted market size in 2023 | US$ 106430 million |
| Forecasted market size in 2030 | US$ 115820 million |
| CAGR | 1.2% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| 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 |
