Global Smart TV Market Expected To Reach $ 612.1 Billion By 2021 With A CAGR Of 18.2%

Date: 2017-06-20

A smart TV, sometimes referred to as connected TV or hybrid TV, is a television set with integrated Internet and interactive “Web 2.0” features. Smart TV is a technological convergence between computers and flatscreen television sets and set-top boxes. Besides the traditional functions of television sets and set-top boxes provided through traditional broadcasting media, these devices can also provide Internet TV, online interactive media, over-the-top content (OTT), as well as on-demand streaming media, and home networking access.

The global Smart TV market was estimated at USD$ 265.3 Billion in 2016, and is anticipated to reach USD$ 612.1 Billion by 2021, expanding at a CAGR of 18.2% between 2017 and 2021. Smart TV has a vast value chain. There are lots of players or component which adding value to the smart TV industry. Each component has its own value and how it contributes towards the value addition to the value chain. Key components of value chain are content creators, aggregators, distributors, integrators, and end-users.

Asia Pacific contributed for the largest market share in the global smart TV market due to acceptance of the smart TVs in the large quantity. Japan and Korea are the major producers and consumer of the smart TVs. North America is following the same trend, whereas domestic manufacturers are significantly boosting the production capacity may enhance the global smart TV market. Moreover, the intense competition emerged among top players in this region to offer innovative features at an efficient cost further boost the global market growth. Furthermore, consumer inclination towards branded products is anticipated to propel the global market growth.

Asia pacific is a fastest growing market for smart TV and is estimated to witness a significant growth over the forecast period owing to the growing automobile industry, burgeoning population and high disposable income in the region. In addition, the entrance of major players, growing demand for online content media services among consumers and increasing investment to expand the vehicle market, especially in the China and India will further foster the market demand for smart TV among Asian populations. North America is a leading market for smart TV and is expected to witness a surging demand in the near future on account of rapid technological advancement and increasing adoption for techno-friendly features such as Netfix & other services in the region.

Global Smart TV Market by Competitive Players:  Major players operating in the global smart TV market are Logitech International, Samsung Electronics, LG Corporation, Onida Electronics, TechniSat Digital, Hong Kong Skyworth Digital Holdings, Toshiba Corporation, Haier Consumer Electronics Group, Videocon Industries, and Vizio, Inc. Others players include Koninklijke Philips N.V., Microsoft, Samsung Electronics, Sony Corporation, Apple, Yahoo, TCL Corporation, Panasonic Corporation, Intel, and Sharp Corporation.

 

Read Full Report: 
http://www.gosreports.com/global-smart-tv-market-research-report-2017/ 

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 1-510-400-8520
Web: www.gosreports.com
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