Press release
Smart TV Market : Structure and Overview of Key Market Forces Propelling Market
With the increasing advancement and evolution of technology, especially in the electronics and semiconductor industry, there is a continuous adoption of automation, mobility, networking and smart projects initiatives all over the world. This is proving to be a boom for the global smart TV market, and more advanced versions are hitting the market at a faster pace.The global smart TV market is estimated to be valued at nearly US$ 300 Bn in 2017 and is estimated to touch a value of US$ 1,500 Bn at the end of the opportunity assessment period in the year 2027. The global smart TV market will exhibit a CAGR of 17.5% during the opportunity assessment period of 2017-2027.
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With the overall increase in global GDP, the capacity of a country to develop or import consumer electronics such as smart TV also increases. The rise in the global GDP is largely contributed by developed countries such as United States, Japan and UK and emerging economies such as Brazil, China and India.
The disposable income all over the world is rising, giving rise to a middle class population that has the capacity to buy gadgets like smart TV. Specifically, with increase in disposable income in Western Europe and United States, the demand for devices that provide personalised entertainment and gaming is increasing, giving a boost to the global smart TV market.
For example, in Latin America, the smart TV market is estimated to be valued at US$ 12 Bn in the year 2017 and this is estimated to touch a value of nearly US$ 83 Bn by 2027 end, registering a CAGR of 21.2%.
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As there is a rapid trend of urbanisation in the Middle East and Africa region, the number of people seeking advanced technological products is bound to exhibit a steep growth. As people start adopting new technologies, awareness about such type of products will increase in the region, and more people will embrace smart TV technology, leading to a rapid growth of the smart TV market in the region.
The report profiles some of the leading players operating in the global smart TV market such as Samsung Electronics Co., Ltd., Panasonic Corporation, LG Electronics, Sharp Corporation, Sony Corporation, Koninklijke Philips N.V., Vizio Inc., Skyworth Digital Holdings Ltd., Tcl Corporation, Toshiba Corporation, Hisense Group, Haier Inc., Hitachi, Ltd And Videocon Industries Limited among others.
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Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.
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