Global Smart Connected TV Market Growth 2024-2030

According to our publisher’s latest study, the global Smart Connected TV market size was valued at US$ 104120 million in 2023. With growing demand in downstream market, the Smart Connected TV is forecast to a readjusted size of US$ 113530 million by 2030 with a CAGR of 1.2% during review period.
The research report highlights the growth potential of the global Smart Connected TV market. Smart Connected TV are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Smart Connected TV. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Smart Connected TV market.
Smart Connected TV is a natural development of the increasing convergence and expansion of multimedia delivery.
Among all Smart Connected TVs of all screen sizes, these with a screen size of 60 inches or more have the highest market share, accounting for 42.97 percent of global revenue in 2019, followed by 55-inch and 42-inch TVs with 26.94 percent and 18.32 percent respectively.
The Asia-Pacific region (especially China), North America and Europe are the main consumer markets for Smart Connected TVs, with China alone accounting for 27.92 percent of the global total in 2019.
The world's major manufacturers include Samsung Electronics, LG Electronics, TCL, SONY, Hisense, Sharp (Foxconn), Xiaomi, Vizio, Haier and Panasonic. In 2019, the total revenue of the Top 5 manufacturers accounted for 71.46% of the global market, while the Top 10 accounted for 90.49%.
Key Features:
The report on Smart Connected TV market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Smart Connected TV market. It may include historical data, market segmentation by Type (e.g., 32 inch, 40 inch), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Smart Connected TV market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Market Drivers:
Technological advancements in TV resolution: The increasing demand for high-definition (HD) and 4K resolution TVs is driving the growth of the market.
Growing popularity of OTT content on smart TVs: The rise of over-the-top (OTT) services such as Netflix, Amazon Prime, and Disney+ is increasing the demand for smart TVs that can support these services.
Increasing prominence of online sales: The ease of online shopping and the convenience of purchasing smart TVs online are driving the growth of the market.
Growing demand for connected and interactive entertainment experiences: The increasing demand for connected and interactive entertainment experiences is driving the growth of the market.
Market Challenges:
Security and privacy concerns: Security and privacy concerns associated with smart TVs are a major challenge for the market.
Competition from alternative products: The competition from alternative products such as gaming consoles and streaming devices is a challenge for the market.
Compliance costs: The compliance costs associated with the adoption of GDPR in Europe are a challenge for the market.
High cost of the latest smart technology: The high cost of the latest smart technology is a challenge for low-income category populations, limiting the demand for smart TVs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Smart Connected TV market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Smart Connected TV industry. This include advancements in Smart Connected TV technology, Smart Connected TV new entrants, Smart Connected TV new investment, and other innovations that are shaping the future of Smart Connected TV.
The global Smart Connected TV market is witnessing significant technological advancements, driven by the increasing demand for high-quality entertainment and the growing adoption of internet-connected devices. Some of the key technological developments in the Smart Connected TV market include:
1. 8K Resolution: The introduction of 8K resolution (7680 x 4320 pixels) is expected to revolutionize the Smart Connected TV market, offering an unparalleled viewing experience with enhanced picture quality and detail.
2. Artificial Intelligence (AI) Integration: AI-powered Smart TVs are becoming increasingly popular, enabling features such as personalized recommendations, voice control, and improved content discovery.
3. Quantum Dot Technology: Quantum Dot technology is being used to improve color accuracy, brightness, and contrast ratio in Smart TVs, providing a more immersive viewing experience.
4. OLED and QLED Displays: OLED (Organic Light-Emitting Diode) and QLED (Quantum Dot Light-Emitting Diode) displays are gaining popularity, offering better contrast ratios, deeper blacks, and wider viewing angles.
5. Voice Control and Smart Home Integration: Smart TVs are integrating voice assistants like Amazon Alexa, Google Assistant, and Apple Siri, enabling users to control their TVs with voice commands and integrate them with other smart devices in their homes.

6. 5G Connectivity: The introduction of 5G networks is expected to enable faster and more reliable connectivity for Smart TVs, enabling seamless streaming and online gaming.
7. HDR (High Dynamic Range): HDR technology is becoming increasingly popular, offering improved contrast ratios, color accuracy, and brightness, enhancing the overall viewing experience.
8. Wireless Connectivity: Wireless connectivity options like Wi-Fi, Bluetooth, and HDMI are becoming more prevalent, enabling users to connect their devices wirelessly to their Smart TVs.
9. Smart TV Operating Systems: New smart TV operating systems like Android TV, Tizen, and webOS are being developed, offering improved user interfaces, app support, and content discovery.
10. Content Aggregation and Streaming: The rise of streaming services like Netflix, Amazon Prime Video, and Disney+ is driving the demand for Smart TVs with built-in streaming capabilities, enabling users to access a wide range of content without the need for additional devices.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Smart Connected TV market. It includes factors influencing customer ' purchasing decisions, preferences for Smart Connected TV product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Smart Connected TV market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Smart Connected TV market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Smart Connected TV market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Smart Connected TV industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Smart Connected TV market.
Recommendations:
Invest in 4K and 8K Resolution Technology: As the demand for high-quality content continues to rise, investing in 4K and 8K resolution technology can help manufacturers stay ahead of the competition.
Focus on Content Partnerships and OTT Services: Partnering with popular OTT services like Netflix, Amazon Prime, and Disney+ can provide a unique selling proposition for Smart TVs and increase their appeal to consumers.
Enhance User Experience with AI-powered Features: Incorporating AI-powered features like voice control, personalized recommendations, and smart home integration can enhance the user experience and increase customer satisfaction.
Expand into Emerging Markets: Emerging markets like India, China, and Latin America offer significant growth opportunities for Smart TV manufacturers, driven by increasing disposable income and urbanization.
Develop Affordable Smart TVs for Emerging Markets: Offering affordable Smart TVs with basic features can help expand the market in emerging economies, where consumers are looking for affordable options.
Opportunities:
Growing Demand for Smart TVs in Emerging Markets: The demand for Smart TVs is expected to grow significantly in emerging markets, driven by increasing disposable income and urbanization.
Rise of OTT Services and Streaming: The rise of OTT services and streaming platforms is driving the demand for Smart TVs with built-in streaming capabilities.
Advancements in Display Technology: Advancements in display technology, such as OLED and QLED, are expected to drive demand for high-quality displays in Smart TVs.
Increased Focus on Sustainability: Consumers are becoming increasingly environmentally conscious, and manufacturers can capitalize on this trend by developing energy-efficient and eco-friendly Smart TVs.
Integration with Emerging Technologies: Smart TVs can be integrated with emerging technologies like voice assistants, artificial intelligence, and the Internet of Things (IoT) to enhance the user experience and create new revenue streams.
Market Segmentation:
Smart Connected TV market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Segmentation by type
32 inch
40 inch
42 inch
55 inch
?60 inch
Segmentation by application
Family
Public
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Samsung Electronics
LG Electronics
TCL
Hisense
Sony
Skyworth
Foxconn (Sharp)
Xiaomi
Vizio
Haier
Panasonic
Changhong
Konka
Key Questions Addressed in this Report
What is the 10-year outlook for the global Smart Connected TV market?
What factors are driving Smart Connected TV market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Smart Connected TV market opportunities vary by end market size?
How does Smart Connected TV break out type, application?

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Manmayi Raval

Research Consultant

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