Smartphone TV Market Size, Share, Growth Analysis, By Service Type, By Usage, By Application, By End user, By Region - Industry Forecast 2024-2031

Smartphone TV Market size was valued at USD 13.1 Billion in 2022 and is poised to grow from USD 13.5 Billion in 2023 to USD 24.2 Billion by 2031, at a CAGR of 7.6% during the forecast period (2024-2031).

The increasing demand for mobile TV is driven by the growing use of smart devices like mobile phones and tablets, along with a global rise in internet usage. The market growth is further propelled by the rising demand for premium sports, movies, and entertainment content through Video on Demand (VoD) platforms. Additionally, the production of TV-enabled smartphones has boosted the acquisition of free-to-air services in developing countries, enhancing smartphone TV sales. Users can now easily access the latest news, real-time traffic reports, and live broadcasts. The introduction of 5G broadcast services, offering high-speed data and improved media utilization, significantly enhances the smartphone viewing experience. As technology advances, the quality of streaming on smartphones improves, making it more enjoyable. Services like Netflix and Hulu are becoming more user-friendly on mobile devices, contributing to the growing popularity of smartphone TV. With larger screens, clearer pictures, and faster speeds, the future of smartphone TV looks promising. The smartphone TV market is set to grow in the coming years due to technological advancements, increased demand for mobile entertainment, and the ease of watching TV on smartphones.

Top-down and bottom-up approaches were used to estimate and validate the size of the Smartphone TV Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Smartphone TV Market Segmental Analysis

The smartphone TV market is segmented on the basis of service type, usage, application, end user, and region. Based on service type, the market is segmented into Free-to-air, and Pay-Tv Services. Based on usage, the market is segmented into Fixed, Portable, and Mobile. Based on application, the market is segmented into stream television content, on-demand videos, and others. Based on end user, the market is segmented into household, and commercial. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Drivers of the Smartphone TV Market

The growth of the smartphone TV market is driven by the rising global use of smartphones, enabling users to stream or watch live video content anywhere and anytime. This market has seen significant development in recent years and is expected to continue growing rapidly, fueled by the increasing prevalence of cell phones and tablets worldwide.

Restraints in the Smartphone TV Market

The competitive position of the Smartphone TV market in the coming years will be influenced by various external factors, such as competitive rivalry and the threat of new entrants. Established brands like Samsung and LG are competing with emerging players such as Xiaomi and OnePlus. Notably, in 2023, the iPhone overtook the Samsung Galaxy to become the best-selling smartphone series globally, capturing nearly 20% of the global smartphone market with around 235 million shipments, as reported by Techwire Asia and the International Data Corporation (IDC). Additionally, Realme, a Chinese startup, launched its Smart TV in India in early 2020 and rapidly ascended to become one of the top five manufacturers by doubling its sales revenue and selling one million Smart TVs by the end of 2020. This highlights the significant impact that new entrants can have on the market.

Market Trends of the Smartphone TV Market

The integration of foldable smartphones, which offer flexible screen sizes and shapes, is becoming increasingly popular as display technology advances. Alongside this trend, the adoption of advanced display technologies like OLED screens and high-speed 5G connectivity is enhancing the viewing experience and enabling faster streaming. As these technologies become more widespread, manufacturers are likely to collaborate with content providers and OTT device producers to integrate built-in features into television sets, leveraging the extensive availability of multiple streaming media devices.