New York, According to a new market research report published by Global Insight Services “Smart TV Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A Smart TV refers to a television set that is not only able to receive and display traditional broadcast TV signals, but also has the ability to connect to and display content from the Internet. A Smart TV typically has built-in Wi-Fi and comes with a suite of pre-loaded apps, allowing users to do things like stream Netflix, browse the web, check social media, and so on. Some models also come with a camera and microphone, which can be used for things like video chatting and voice control.
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Key Trends
There are four key trends in Smart TV technology:
1. Increased connectivity: Smart TVs are becoming more and more connected, with built-in WiFi and support for a variety of streaming services. This trend is only going to continue, as manufacturers add more and more features to their TVs.
2. Improved picture quality: 4K and HDR are becoming more and more common, and as a result, the picture quality of Smart TVs is improving. This trend is also likely to continue, as manufacturers continue to push the boundaries of what is possible.
3. More powerful processors: Smart TVs are becoming more powerful, with faster processors and more RAM. This trend is necessary to support the increased connectivity and improved picture quality.
4. Increased app support: Smart TVs are starting to support a wider range of apps, including streaming services, games, and even productivity apps. This trend is likely to continue, as manufacturers look to make their TVs more versatile.
Key Drivers
Some of the key drivers of Smart TV market are as follows:
– Increasing trend of online content consumption: There is a growing trend of online content consumption, especially among millennials. This is one of the key drivers for the growth of Smart TV market.
– Growing popularity of streaming services: Another key driver for the growth of Smart TV market is the growing popularity of streaming services such as Netflix, Amazon Prime, and Hulu.
– Increasing adoption of smart devices: With the increasing adoption of smart devices such as smartphones and tablets, there is a growing demand for Smart TVs.
– Advancements in technology: The advancement in technology has led to the development of new features in Smart TVs such as 4K resolution, HDR, and voice control.
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Market Segments
By Screen Size
- Below 32 Inches
- 32 to 45 Inches
- 46 to 55 Inches
- 56 to 65 Inches
- Above 65 Inches
By Technology
- OLED
- QLED
- LED
- Others
Key Players
The smart TV market report includes players such as LG Electronics Inc., Samsung Electronics Co. Ltd., Sony Corp, VIZIO Inc., Videocon Industries Ltd., Sansui Electric Co. Ltd., Toshiba Corp, Haier Electronics Group Co., Ltd., Xiaomi Corp., Hisense Group.
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Reasons to buy Smart TV Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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