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Smart TV Market Is Expected to Grow Significantly During the Forecast Period 2019–2025.

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Market News-Flash
Smart TV Market Is Expected to Grow Significantly During the Forecast Period 2019–2025.

Smart TV Market

The rapid transformation in the modes of content delivery from the traditional platforms to subscription video-on-demand (SVOD) services has led to the popularity of media providers such as Netflix, HBO Go, Hulu, and Amazon Prime Video. The growing demand for media streaming applications among consumers to watch movies, series, and songs on a single platform is boosting the viewer count across the globe. Additionally, the compatibility of smart TVs with subscription-based media applications is a major reason driving the growth of the smart TV market.

According to Market Research Future, the global smart TV market has been segmented based on resolution, technology, platform, size, distribution channel, application, and region. By resolution, the smart TV market has been segmented into 720p, 1080p, 4K, 8K, and others. Among these, 4K dominated the smart TV market in 2018 due to vivid image quality and lower energy consumption. Although 8K resolution is still in the growth stage, 4K is expected to grow at the highest CAGR during the forecast period as it is compatible with the current media content resolution.

By technology, the smart TV market has been segmented into LCD, LED, Plasma, OLED, QLED. Among these, LED dominated the smart TV market in 2018 due to advantages such as affordability and low power consumption. However, the adoption of OLED-based smart TVs is expected to gain momentum at the highest CAGR during the forecast period. By platform, the smart TV market has been segmented into Android, WebOS, Roku, Tizen, Others. Android is one of the highly used platforms for smart TVs as it offers ease of use and compatibility with smartphones. The major factor for the growth of Android platform for smart TVs is that the features of a smartphone can also be used on a smart TV. On the other hand, Roku is one of the highest growing platform segments.

By distribution channel, the smart TV market has been segmented into online and offline. Among the distribution channel, the online distribution channel segment is expected to grow with the highest CAGR during the forecast period. By application, the smart TV market has been segmented into commercial and residential. Smart TVs are mostly used in residential applications while their usage has rapidly increased in commercial sector as well.

By region, the smart TV market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Regional Analysis

The global smart TV market is characterized by the presence of several players. On the basis of geography, the global smart TV market has been segmented into North America, Europe, Asia-Pacific, and rest of the world. The market is highly competitive with all the players competing to gain maximum market share. The major players across North America compete based on cost, product quality, and regional distribution. It becomes crucial for manufacturers to provide extensive product variations and high-quality smart TVs to compete in the global market. The growth of the North American market is dependent on market conditions, government support, and industry development. Thus, the major players particularly focus on acquisitions, expansions, new product launches, and collaborations. Most of the companies operating in the global market are expanding operations across different regions in the US, augmenting their capabilities, and building strong partner relations. Samsung Electronics Corporation Ltd, LG Electronics, Sony Corporation, and Vizio Inc. are the major companies operating in the global smart TV market.

A gradual change in consumer preference due to the advent of high-speed Internet, mirror imaging, and accessing content from multiple media providers has defined the dynamics of the global smart TV market. Consumers in the US with a high degree of product awareness, high buying capacity, and high standards of living are boosting the sales of smart TVs. Furthermore, next-generation technologies such as 3D glasses, 4K UHD, and 8K QLED launched in 2019 coupled with sharp refinements and expansions on existing display technologies are expected to fuel the global market growth during the forecast period

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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: [email protected]

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