Smart TV Market to grow at a CAGR of 10.81% from 2022 to 2027|APAC is estimated to contribute 46% to the market growth - Technavio

NEW YORK, July 5, 2023 /PRNewswire/ -- The smart tv market is set to grow by USD 69.33 billion from 2022 to 2027, progressing at a CAGR of 10.81% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The growing prominence of online sales is a key factor driving market growth. The consumer shift toward online purchase platforms is increasing the sales of smart tv. Furthermore, many manufacturing vendors, such as LG, Apple, and Samsung are offering a wide range of smart TV models through their company websites. The price discounts offered by manufacturers and third-party retailers are encouraging customers to do online shopping. The advantages of online purchasing are quick shipping services, easy comparison of product features, and large online product diversity are also key factors for the growth of the smart tv market. Hence, these factors are expected to boost the development of the market during the forecast period. -Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

The smart tv market covers the following areas:

Smart TV Market Sizing
Smart TV Market Forecast
Smart TV Market Analysis

Smart TV Market 2023-2027 - Market Dynamics

Major Trends

Rising demand for smart TV in emerging countries is a major trend shaping the market. The rising popularity of smart tv in emerging countries in the APAC region, such as India and the Philippines, along with other Southeast APAC countries, such as Hong Kong and Thailand. The key factors driving the growth in these countries are High internet penetration and a steady rise in per capita income. For example, in December 2021, Xiaomi, under its brand Redmi, launched the smart TV model Redmi TV X 75-inch in China. Hence, these factors in emerging countries are expected to drive market growth during the forecast period.

Significant Challenges

The threat from substitute products is the major challenge restricting market growth. The key challenge for the market is alternate viewing devices, such as smartphones. Many OTT content providers and VOD services offer a range of streaming content compatible with mobile screens due to the high penetration of internet-enabled smartphones. Furthermore, applications that are designed for smart TV often lack the interface design and performance of their smartphone counterparts. The lower prices of set-top boxes and streaming media sticks are also a major challenge for smart tv vendors. Hence, the growing threat of substitute products is expected to restrict the growth of the market during the forecast period.

Smart TV Market 2023-2027: Market Segmentation

The smart tv market is segmented by distribution channel (offline and online), type (below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, and above 65 inches), and geography (APAC, Europe, North America, South America, and the Middle East and Africa).

• The market share growth of the offline segment will be significant during the forecast period. Consumer electronics stores, hypermarkets and supermarkets, and specialty retail stores that sell smart TV are included in the offline segment. Vendors in the market are also offering their products through various offline retail supermarkets, such as SPAR International, Walmart, Target Brands, Inc., and ALDI. Offline stores are attracting consumers due to experience-based purchase offerings. In addition, various international vendors have an extensive global presence through a wide distributor network. The customers rely on in-store performance and store expert demos before taking any purchase-related decisions. Hence, these factors are expected to drive the segment growth during the forecast period.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

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• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Companies Mentioned

• Apple Inc.
• BBK Electronics Corp Ltd
• Haier Smart Home Co. Ltd.
• Hisense International Co. Ltd. 
• Koninklijke Philips NV
• LG Electronics Inc.
• Logitech International SA
• MIRC Electronics Ltd.
• Panasonic Holdings Corp.
• Roku Inc.
• Samsung Electronics Co. Ltd.
• Sharp Corp.
• Skyworth Group Ltd
• Sony Group Corp.
• TCL Electronics Holdings Ltd
• TOSHIBA CORP
• Videocon Industries Ltd.
• VIZIO Holding Corp
• Westinghouse Electric Corp.
• Xiaomi Inc.

Vendor Offering

• Apple Inc. - The company offers smart TV called Apple TV 4K with Apple TV Plus, Apple Music, and Apple Arcade together with all streaming apps in HD picture and audio quality.
• LG Electronics Inc. - The company offers smart TV such as AI smart HD TV, smart HD TV, AI smart full HD TV, and smart FHD TV.
• Samsung Electronics Co. Ltd. - The company offers smart TV such as QLED 4K screen, Crystal 4K pro, Neo QLED screen 8K screen, and FDH smart TVs.

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The smart TV sticks market size is estimated to grow by USD 612.44 million between 2022 and 2027 accelerating at a CAGR of 7.78%. Furthermore, this report extensively covers market segmentation by Type (non-4k and 4k and above), Distribution Channel (hypermarket and supermarket, online, convenience stores, and specialty store), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). The increased demand for 4G and 5G connections is a key factor driving the growth of the smart TV sticks market.

The 4K TV market size is estimated to grow at a CAGR of 19.19% between 2022 and 2027. The market size is forecast to increase by USD 183.45 billion. Furthermore, this report extensively covers market segmentation by type (52-65 inches type, below 52 inches type, and above 65 inches type), application (residential, commercial, and industrial), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The rising popularity of large-display televisions is a key factor driving the growth of the market during the forecast period.

Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global smart tv market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global smart tv market 2017 - 2021 ($ billion)

• 4.2 Distribution channel Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ billion)

• 4.3 Application Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel 
• Exhibit 42: Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 43: Chart on Type - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 45: Chart on Comparison by Type
• Exhibit 46: Data Table on Comparison by Type

• 7.3 Below 32 Inches - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Below 32 Inches - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Below 32 Inches - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Below 32 Inches - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Below 32 Inches - Year-over-year growth 2022-2027 (%)

• 7.4 32 to 45 Inches - Market size and forecast 2022-2027 
• Exhibit 51: Chart on 32 to 45 Inches - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on 32 to 45 Inches - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on 32 to 45 Inches - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on 32 to 45 Inches - Year-over-year growth 2022-2027 (%)

• 7.5 46 to 55 Inches - Market size and forecast 2022-2027 
• Exhibit 55: Chart on 46 to 55 Inches - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on 46 to 55 Inches - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on 46 to 55 Inches - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on 46 to 55 Inches - Year-over-year growth 2022-2027 (%)

• 7.6 56 to 65 Inches - Market size and forecast 2022-2027 
• Exhibit 59: Chart on 56 to 65 Inches - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on 56 to 65 Inches - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on 56 to 65 Inches - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on 56 to 65 Inches - Year-over-year growth 2022-2027 (%)

• 7.7 Above 65 Inches - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Above 65 Inches - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on Above 65 Inches - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on Above 65 Inches - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Above 65 Inches - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Type 
• Exhibit 67: Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 81: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 97: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 India - Market size and forecast 2022-2027 
• Exhibit 105: Chart on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027 
• Exhibit 109: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 110: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 111: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 Apple Inc.
• Exhibit 120: Apple Inc. - Overview
• Exhibit 121: Apple Inc. - Business segments
• Exhibit 122: Apple Inc. - Key news
• Exhibit 123: Apple Inc. - Key offerings
• Exhibit 124: Apple Inc. - Segment focus

• 12.4 Haier Smart Home Co. Ltd. 
• Exhibit 125: Haier Smart Home Co. Ltd. - Overview
• Exhibit 126: Haier Smart Home Co. Ltd. - Business segments
• Exhibit 127: Haier Smart Home Co. Ltd. - Key offerings
• Exhibit 128: Haier Smart Home Co. Ltd. - Segment focus

• 12.5 Hisense International Co. Ltd. 
• Exhibit 129: Hisense International Co. Ltd.  - Overview
• Exhibit 130: Hisense International Co. Ltd.  - Product / Service
• Exhibit 131: Hisense International Co. Ltd.  - Key offerings

• 12.6 Koninklijke Philips NV 
• Exhibit 132: Koninklijke Philips NV - Overview
• Exhibit 133: Koninklijke Philips NV - Business segments
• Exhibit 134: Koninklijke Philips NV - Key news
• Exhibit 135: Koninklijke Philips NV - Key offerings
• Exhibit 136: Koninklijke Philips NV - Segment focus

• 12.7 LG Electronics Inc.
• Exhibit 137: LG Electronics Inc. - Overview
• Exhibit 138: LG Electronics Inc. - Business segments
• Exhibit 139: LG Electronics Inc. - Key news
• Exhibit 140: LG Electronics Inc. - Key offerings
• Exhibit 141: LG Electronics Inc. - Segment focus

• 12.8 Logitech International SA 
• Exhibit 142: Logitech International SA - Overview
• Exhibit 143: Logitech International SA - Business segments
• Exhibit 144: Logitech International SA - Key news
• Exhibit 145: Logitech International SA - Key offerings
• Exhibit 146: Logitech International SA - Segment focus

• 12.9 Panasonic Holdings Corp. 
• Exhibit 147: Panasonic Holdings Corp. - Overview
• Exhibit 148: Panasonic Holdings Corp. - Business segments
• Exhibit 149: Panasonic Holdings Corp. - Key news
• Exhibit 150: Panasonic Holdings Corp. - Key offerings
• Exhibit 151: Panasonic Holdings Corp. - Segment focus

• 12.10 Samsung Electronics Co. Ltd. 
• Exhibit 152: Samsung Electronics Co. Ltd. - Overview
• Exhibit 153: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 154: Samsung Electronics Co. Ltd. - Key news
• Exhibit 155: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 156: Samsung Electronics Co. Ltd. - Segment focus

• 12.11 Sharp Corp.
• Exhibit 157: Sharp Corp. - Overview
• Exhibit 158: Sharp Corp. - Business segments
• Exhibit 159: Sharp Corp. - Key news
• Exhibit 160: Sharp Corp. - Key offerings
• Exhibit 161: Sharp Corp. - Segment focus

• 12.12 Skyworth Group Ltd
• Exhibit 162: Skyworth Group Ltd - Overview
• Exhibit 163: Skyworth Group Ltd - Product / Service
• Exhibit 164: Skyworth Group Ltd - Key offerings

• 12.13 Sony Group Corp.
• Exhibit 165: Sony Group Corp. - Overview
• Exhibit 166: Sony Group Corp. - Business segments
• Exhibit 167: Sony Group Corp. - Key news
• Exhibit 168: Sony Group Corp. - Key offerings
• Exhibit 169: Sony Group Corp. - Segment focus

• 12.14 TCL Electronics Holdings Ltd 
• Exhibit 170: TCL Electronics Holdings Ltd - Overview
• Exhibit 171: TCL Electronics Holdings Ltd - Business segments
• Exhibit 172: TCL Electronics Holdings Ltd - Key news
• Exhibit 173: TCL Electronics Holdings Ltd - Key offerings
• Exhibit 174: TCL Electronics Holdings Ltd - Segment focus

• 12.15 Videocon Industries Ltd. 
• Exhibit 175: Videocon Industries Ltd. - Overview
• Exhibit 176: Videocon Industries Ltd. - Product / Service
• Exhibit 177: Videocon Industries Ltd. - Key offerings

• 12.16 VIZIO Holding Corp
• Exhibit 178: VIZIO Holding Corp - Overview
• Exhibit 179: VIZIO Holding Corp - Product / Service
• Exhibit 180: VIZIO Holding Corp - Key offerings

• 12.17 Xiaomi Inc.
• Exhibit 181: Xiaomi Inc. - Overview
• Exhibit 182: Xiaomi Inc. - Business segments
• Exhibit 183: Xiaomi Inc. - Key news
• Exhibit 184: Xiaomi Inc. - Key offerings
• Exhibit 185: Xiaomi Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 186: Inclusions checklist
• Exhibit 187: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 188: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 189: Research methodology
• Exhibit 190: Validation techniques employed for market sizing
• Exhibit 191: Information sources

• 13.5 List of abbreviations
• Exhibit 192: List of abbreviations

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