Growth of Smart TV Market Propelled by Rising Disposable Incomes

  • The rising number of internet users around the world is anticipated to boost the growth of the market.
  • The preference to own products such as laptops and computers, as compared to smart TVs, are estimated to operate as major restraints to the growth of the market.
  • The Asia Pacific region is predicted to witness significant growth in its market share.

The global smart TV market is estimated to record a CAGR growth of 8.5% over the forecast period i.e. (2017-2024), owing to increasing disposable incomes of consumers, growth in global population and shift noticed in lifestyles of middle class individuals towards owning smart devices and products across the globe.

Moreover, the growth in the number of partnerships and joint ventures entered into by leading market players to include additional features to their products to attract consumers is anticipated to drive the demand for smart TV throughout the world.

A Smart TV, also known as a connected TV (CTV), is a traditional television set with integrated Internet and interactive “Web 2.0” features which allows users to stream music and videos, browse the internet, and view photos.

The global smart TVs market is predicted to witness noteworthy growth, on account of heavy investments made by leading market players in technology, in order to improve the overall performance of smart TV. Additionally, the growing demand for multimedia devices that are connected to the internet and rising number of internet users around the world is anticipated to boost the growth of the market. Additionally, with the global population seeing a rise in their disposable incomes and the preferences of the population to own high-tech devices is anticipated to drive the demand for these products globally

However, the global smart TV market is not free from disadvantages such as the smart TV being highly expensive and not affordable to a huge section of the global population. Furthermore, the preference to own other products such as laptops, computers in large numbers globally by consumers, as compared to smart TVs are estimated to operate as major restraints to the growth of the market over the forecast period.

The global smart TV market comprises of four segments which are segmented by technology, distribution channel, size and end user. The market in Asia Pacific region is predicted to witness significant growth in its market share, owing to high demand for smart TV among end users in the region.

Moreover, the presence of fast growing economies such as China and India with a significant high income population is anticipated to drive huge demand for smart TVs which is estimated to drive the growth of the market over the forecast period. Additionally, the market in North America region is estimated to observe noteworthy growth over the forecast period, owing to offering of various services including Netflix services that has grown immensely popular for the viewership of consumers in the region.

This report also provides the existing competitive scenario of some of the key players of the global smart TV market which includes company profiling of:

The presence of fast growing economies such as China and India with a significant high income population is anticipated to drive huge demand for smart TVs which is estimated to drive the growth of the market over the forecast period.
  • Apple, Inc. (NASDAQ: AAPL),
  • Advanced Micro Devices, Inc. (NASDAQ: AMD),
  • Google Haier Group (SHA: 600690),
  • Intel Corp. (NASDAQ: INTC),
  • LG Electronics, Inc. (KRX: 066570),
  • Microsoft Corporation (NASDAQ: MSFT),
  • Panasonic Corporation (TYO: 6752),
  • Samsung KRX: (005930),
  • Sony Corporation (TYO: 6758),
  • Cable Labs,
  • Logitech International S.A. (SWX: LOGN),
  • Nyxio Technologies Corp.,
  • Toshiba (TYO: 6502) and Yahoo, Inc.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart TV market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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Perter Taylor

Perter Taylor graduated from Columbia. He grew up in the UK but moved to US after school. Perter has been a tech-savvy person. He is always interested in knowing new arrivals in the world of Technology. Perter is a tech author. Along with a tech-savvy writer, He is a food lover and solo traveler.
https://researchnester.com

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