Global Smart TVs Industry to 2027 - Samsung’s Tizen OS Seeks to Proliferate Smart TV Domain - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 22, 2021--
The “Smart TVs - Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Amid the COVID-19 crisis, the global market for Smart TVs estimated at US$167.2 Billion in the year 2020, is projected to reach a revised size of US$300 Billion by 2027, growing at a CAGR of 8.7% over the analysis period 2020-2027.
Full HD TV, one of the segments analyzed in the report, is projected to record a 9.5% CAGR and reach US$112.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the HD TV segment is readjusted to a revised 7.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $45.1 Billion, While China is Forecast to Grow at 13.2% CAGR
The Smart TVs market in the U.S. is estimated at US$45.1 Billion in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$69.9 Billion by the year 2027 trailing a CAGR of 13.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.7% and 7.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR.
4K UHD TV Segment to Record 9.6% CAGR
In the global 4K UHD TV segment, USA, Canada, Japan, China and Europe will drive the 8.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$27.8 Billion in the year 2020 will reach a projected size of US$50.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$41.8 Billion by the year 2027, while Latin America will expand at a 11.2% CAGR through the analysis period.
Select Competitors (Total 23 Featured):
- Guangdong Changhong Electronics Co. Ltd.
- Haier Group
- Hitachi Ltd.
- Koninklijke Philips N.V.
- LG Electronics
- Panasonic Corp.
- Samsung Electronics Co., Ltd.
- Sharp Corporation
- Sony Corporation
- TCL Multimedia Technology Holdings Ltd.
- Toshiba Corporation
- Videocon Industries Ltd.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Smart TV: An Introductory Prelude
- Recent Market Activity
- Smart TV Gears Up for Rapid Expansion
- Upward Trajectory in CE Sector Keeps Market Sentiment High
- Growing Interest for Sophisticated Home Electronics Extends Opportunities
- China Emerges as the Most Important Market for Smart TV
- Developed Regions Remain Key Revenue Contributors
- Competitive Scenario
- Samsung Dominates the Smart TV Market
- Chinese Manufacturers Aim to Penetrate Global Market
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Uptrend in Internet Usage Patterns Drive Market Opportunities
- Wider Availability of Broadband Creates Fertile Environment
- Northbound Trajectory in Online Video Drives Market Momentum
- Falling Prices Set to Accelerate Volume Growth
- Shortening TV Upgrade Cycles Augment Smart TV Shipments
- Advanced Technological Features Enhance Appeal & Image of Smart TV
- HEVC/ H.265 Redefines Playback Functionality
- Quantum Dot for Unmatched Brightness & Color Signature
- HDMI 2.0 Enhances AV Connectivity
- Dolby Vision HDR for Premium Entertainment Experience
- Smart TV OS Platform Trends
- Android TV: The Prime OS Platform for Smart TV
- Samsung’s Tizen OS Seeks to Proliferate Smart TV Domain
- Roku Exhibits Faster Growth in Smart TV OS Market
- Firefox OS Enables Quicker Access to Favourite TV Channels
- LG’s webOS Aims to Make a Mark
- 4K UHD TV Drives Market Momentum
- Cloud Broadcast Augment Smart TV Prospects
- Favorable Demographic & Socio-Economic Trends Augur Well
- Rapid Growth in Urban Households
- Burgeoning Middle Class Population
- Rising Living Standards
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/5oh7ft
View source version on businesswire.com:https://www.businesswire.com/news/home/20211222005501/en/
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INDUSTRY KEYWORD: ENTERTAINMENT CONSUMER ELECTRONICS TECHNOLOGY TV AND RADIO AUDIO/VIDEO INTERNET HARDWARE
SOURCE: Research and Markets
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