An Incisive, In-depth Analysis on the Smart Tv Market
This study offers a comprehensive, 360 degree analysis on the Smart Tv market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Smart Tv market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Smart TVs have emerged as an advancement that is transforming the entertainment industry throughout the globe. Internet penetration and digitalization has further enriched the experience that televisions offer to audiences in the entertainment industry, and the smart TV is a technical conjunction of our computers and flat screen televisions. Smart TVs, as considered under the scope of the report, are adopted across various end-use areas in order to provide an enhanced audio visual experience to the audience. As high speed Internet has become easily affordable, viewers/audiences that prefer good quality content are preferring smart TVs over other television systems. Also, the growing admiration for OTT streaming in audio visual content is impacting the overall smart TV market in a positive manner. Besides this, technological development and substantial availability and usage of Internet services are a few other factors impelling the growth of the global smart TV market in terms of value. The global smart TV market is valued at US$ 255 Bn by the end of 2016, and is expected to expand at a CAGR of 17.5% in terms of value over the forecast period. The global smart TV market is expected to represent a high incremental opportunity between 2017 and 2027.
Unlike a few years back when smart TVs were not very common, the Smart TVs in present times have not remained eluded from smart homes. With advancements in technology such as 4K UHD, OLEDs, and quantum dot technologies, people expect to enjoy a better viewing experience along with the ease of usability of household devices, which is provided by their smart homes. Hence, the increasing adoption of smart homes throughout the world is also pushing the market for smart TVs. Apart from smart homes, smart TVs are nowadays also being adopted in various educational institutes, healthcare institutes, and hotels, as well as in commercial shopping complexes. Such a high adoption rate of smart TVs in various application areas is expected to drive the smart TV market during the forecast period. Furthermore, the adoption of advanced technologies, transitioning consumer spending behaviour for enhanced customer experience, and increasing economic growth of the developing economies of South East Asia and Middle East & Africa are also pushing the overall smart TV market.
On the basis of screen type, the global smart TV market can be segmented into 28 to 40 inch, 41 to 59 inch, and 60 inch & above. The 28 to 40 inch segment is expected to account for a sizable share of the overall smart TV market in 2017, but is expected to foresee a decrease in the growth rate yearly, due to the embellishment of the 60 inch & above screen type segment by the end of the forecast period. One of the important factors for this drift in the smart TV market is the change in customer spending patterns for luxurious products. Nowadays, customers prefer going for smart TVs which have bigger screens and better visibility, for their luxurious living rooms. The 41 to 59 inch screen type sub-segment is also expected to foresee considerably high adoption, and is expected to follow the 60 inch & above sub-segment in the smart TV market. Such high growth rates in the smart TV market are primarily driven by transformation in customer shopping preferences and high the preference given to lavish entertainment devices.
On the basis of distribution channel, the global smart TV market can be segmented into direct and indirect distribution channels. The growth of the smart TV market is predominantly driven by the direct distribution channel. However, major revenues in the smart TV market are expected to be generated through the indirect distribution channel. Online channels are also impacting the growth of the overall smart TV market, especially in developed economies.
On the basis of geographical region, the smart TV market is segmented across North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA. The APEJ smart TV market holds a major value share in the global smart TV market, and is likely to maintain its dominance in the global smart TV market over the forecast period. The smart TV market in the region is projected to represent a significant incremental opportunity between 2017 and 2027. The smart TV market in APEJ is pre-dominantly organized, but various local players are also inclined towards providing smart TV solutions at reduced costs. With more than approximately half of the world’s Internet users, APEJ is a home to the fastest growing Internet penetration in the world. Technological advancements, adoption of services such as e-Commerce, cashless payments, and social media attract the young and tech savvy smart TV customers. These factors are driving the smart TV market in the APEJ region. Also, government initiatives such as digital India, which is an initiative by the Government of India, or smart city projects in various countries, are pushing the smart TV market in the region. Another reason for the high adoption of smart TVs in APEJ is the high volume of video content accessible through them, especially the substantial free content provided by OTT content providers such as Viu services provided by Pacific Century Cyber Works, and HOOQ services provided by Singapore Telecommunications Limited in APAC countries. Particularly in China, a large volume of free content is present, owing to which, China is one of the major revenue contributors in the APEJ smart TV market. APEJ is expected to be followed by North America and Western Europe in the smart TV market in terms of revenues generated. Entertainment is the major driver for the adoption of smart TVs in North America, along with high Internet penetration, and continuous technological advancements in the entertainment industry. Also, the ease of accessibility to good streaming content in the Western European region can be expected to drive the market growth. A large number of video streaming content providers are collaborating with smart TV manufacturers to provide a substantial amount of video content to customers, attracting more and more customers towards buying smart TVs. The sales of smart TVs in Western Europe are projected to represent a total incremental opportunity of US$ 211 Bn. during the study period.
Vendors in the smart TV market are now focusing on introducing advanced technologies to enhance the audio visual experience. Examples of some of the smart TV market vendors in this study of the global smart TV market include Samsung Electronics Co., Ltd., LG Electronics, Panasonic Corporation, Sony Corporation, Koninklijke Philips N.V., Vizio, Toshiba Corporation, Sharp Corporation, Hisense International, Hong Kong Skyworth Digital Holdings Co., Ltd., Haier Consumer Electronics Group, TCL, Hitachi, Ltd., and Videocon Industries Ltd.
Vendors are continuously innovating their smart TV solutions to penetrate the technology-influenced market. Samsung is focussing on launching innovative solutions in order to provide an improved user experience, and expand its customer base in its smart TV segment. In May 2017, Samsung launched the new SAMSUNG ARTIK 053 module, which is an affordable IoT solution with high-performance and hardened security for next-generation edge products. Also, the company partnered with you.i TV, which is a video app platform provider, to expand its product portfolio in reference to smart TVs. Panasonic is also focusing on launching innovative smart TV products in order to provide an improved user experience and sustain its position in the market. In April 2017, Panasonic launched its new 2017 Smart TV range with its 'Master' 4K Pro, Ultra HD, OLED as its flagship product. With reference to smart TVs, LG has upgraded its portfolio in order to expand its customer base and sustain its position in the overall smart TV market. In June 2017, the company launched a new range of OLED smart TVs in the market, consisting of five models with the latest WebOS 3.0 user-interface, which provides seamless, intuitive navigation.
Future Market Insights (FMI) offers a 10-year forecast for the global smart TV market between 2017 and 2027. In terms of value, the smart TV market is expected to register a high CAGR during the forecast period. This study demonstrates the smart TV market dynamics and trends, globally, across seven regions: North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA, which influence the current nature and future status of the smart TV market over the forecast period.
This research report provides a detailed analysis of the smart TV market, and offers insights about the various factors driving the popularity of smart TVs and their features. The report includes an extensive analysis of key industry smart TV market drivers, restraints, trends, and market structure. The smart TV market study provides a comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The report segregates the smart TV market based on screen type and distribution channel across different regions, globally.
The smart TV market is expected to witness substantial revenue growth during the forecast period, owing to the increasing penetration of the Internet and growing disposable incomes. Smart TVs have major application in the residential sector, but have also seen significant adoption in the commercial sector, offices, hospitals, and educational institutes, in recent years. Rapid urbanization and governments supporting investment opportunities with respect to smart TVs is also rising continuously, thus further pushing the revenue growth of the global smart TV market.
The global Smart TV market report starts with an overview of the smart TV market in terms of value. In addition, this section includes an analysis of key trends, drivers, and restraints from the supply, demand, and economy side, which are influencing the smart TV market.
On the basis of screen type, the smart TV market is segmented into 28 to 40 inch, 41 to 59 inch, and 60 inch & above.
On the basis of distribution channel, the smart TV market is segmented into direct and indirect channels.
A detailed analysis has been provided for every segment in terms of market size analysis for the smart TV market across different regions. This section provides a detailed analysis that covers the key trends.
The next section consists of a detailed analysis of the smart TV market across various countries in the region. It provides a market outlook for 2017–2027, and sets the forecast within the context of the smart TV market, to include the latest technological developments as well as offerings in the smart TV market. This study discusses the key trends within countries that contribute to the growth of the smart TV market, as well as analyses degrees at which the drivers are influencing the smart TV market in each region. Key regions and countries assessed in this report include North America (the U.S. and Canada), Latin America (Brazil, Mexico, and the Rest of Latin America), Western Europe (Germany, France, U.K., Italy, Spain, Benelux, Nordic, and the Rest of Western Europe), Eastern Europe (Russia, Poland, and Rest of Eastern Europe), APEJ (India, China, Australia & New Zealand, ASEAN, and the Rest of APAC), Japan, and MEA (GCC Countries, Turkey, South Africa, North Africa, and the Rest of MEA). This report evaluates the present scenario and the growth prospects of the smart TV market across various regions, globally, for the period 2017–2027. We have considered 2016 as the base year, and provided data for the remaining 12 months.
To offer an accurate forecast, we started by sizing the current market, which forms the basis of how the smart TV market will grow in the future. Given the characteristics of the smart TV market, we have triangulated the outcome of different types of analysis based on technology trends.
As previously highlighted, the global smart TV market is categorized into a number of segments. All segments in terms of screen type, distribution channel, and different regions are analysed in terms of basis points, to understand an individual segment’s relative contribution to the growth of the smart TV market. This detailed information is important for the identification of various key trends in the global smart TV market.
In addition, another key feature of this report on the smart TV market is the analysis of all key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global smart TV market.
In the final section of the report, we include a competitive landscape to provide clients a dashboard view based on the categories of providers in the value chain, their presence in the smart TV portfolio, and key differentiators. This section is primarily designed to provide clients an objective and detailed comparative assessment of key providers specific to a market segment in the smart TV supply chain, and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of capabilities and their success in the smart TV marketplace. Detailed profiles of providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings, and recent developments in the smart TV market. Key competitors covered in the global smart TV market report include Samsung Electronics Co., Ltd., LG Electronics, Panasonic Corporation, Sony Corporation, Koninklijke Philips N.V., Vizio, Toshiba Corporation, Sharp Corporation, Hisense International, Hong Kong Skyworth Digital Holdings Co., Ltd., Haier Consumer Electronics Group, TCL, Hitachi, Ltd., and Videocon Industries Ltd.
Key Segments Covered
- 28 to 40 Inch
- 41 to 59 Inch
- 60 Inch & Above
Key Regions Covered
- Rest of Latin America
- Rest of Western Europe
- Rest of Eastern Europe
- Australia & New Zealand
- Rest of APAC
- GCC Countries
- South Africa
- North Africa
- Rest of MEA
Key Players in the Smart TV Market
- Samsung Electronics Co., Ltd.
- LG Electronics
- Panasonic Corporation
- Sony Corporation
- Koninklijke Philips N.V.
- Toshiba Corporation
- Sharp Corporation
- Hisense International
- Hong Kong Skyworth Digital Holdings Co., Ltd.
- Haier Consumer Electronics Group
- Hitachi, Ltd.
- Videocon Industries Ltd.
Smart TV Market Reports - Table of Contents
12. Forecast Factors: Relevance and Impact
13. Forecast Assumptions
18. Assumptions & Acronyms Used
19. Research Methodology