PUBLISHER: The Business Research Company | PRODUCT CODE: 1712757
PUBLISHER: The Business Research Company | PRODUCT CODE: 1712757
Smart TVs are digital televisions linked to the internet, allowing streaming of diverse content from various applications and accessing multiple streaming services. They can also connect wirelessly to other devices and are utilized across households, offices, and educational settings.
These TVs come in various types such as 4K UHD, Full HD, HDTV, and 8K TV. 4K Ultra HD offers a resolution four times higher than Full HD (1080p) TVs. These TVs employ different panel technologies like LCD, LED, OLED, and QLED, serving the needs of households, offices, educational institutions, and other end-users.
The smart TV market research report is one of a series of new reports from The Business Research Company that provides smart TV market statistics, including smart TV industry global market size, regional shares, competitors with a smart TV market share, detailed smart TV market segments, market trends and opportunities, and any further data you may need to thrive in the smart TV industry. This smart TV market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The smart tv market size has grown strongly in recent years. It will grow from $214.4 billion in 2024 to $229.62 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to technological advancements, content streaming, user-friendly interfaces, high-quality displays, and internet accessibility.
The smart tv market size is expected to see strong growth in the next few years. It will grow to $299.83 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to 5g connectivity, content partnerships, smart home integration, gaming and cloud services. Major trends in the forecast period include HDR and Dolby Vision, OLED and Qled technology, AI and voice control, and smart home integration.
The surge in popularity of video-on-demand (VoD) services stands as a significant driver behind the expanding smart TV market. VoD, an innovative feature of Internet Protocol TV (IPTV), provides users with a vast array of available videos to stream via the Real-Time Streaming Protocol. Recent years have witnessed a tremendous upswing in VoD's popularity, directly influencing higher adoption rates of smart TVs. For instance, data from Netflix Inc. revealed a notable rise in paid memberships, soaring from 221,844,000 in 2021 to 230,747,000 in 2022, highlighting the escalating trend of video-on-demand services fueling the smart TV market.
Moreover, the escalation in internet penetration emerges as a driving force propelling the growth of the smart TV market. Smart TVs leverage the internet to stream content, access applications, and offer interactive features, augmenting the viewing experience with a diverse array of digital entertainment options. Reports from the International Telecommunication Union (ITU) highlighted a global surge in internet users, climbing from 4.9 billion in 2021 to 5.3 billion in 2022, reinforcing the significant impact of increased internet penetration on the smart TV market.
An emerging trend in the smart TV market is the advent of 8K TV technology. With 33 million pixels, 8K TV sets deliver clearer and more precise images compared to their 4K counterparts, offering resolution that is 16 times that of full HD. Notably, Samsung Electronics Co. Ltd. unveiled its 98-inch class Samsung Neo QLED 8K TV in September 2023, featuring stunning picture quality and advanced audio technologies like Dolby Atmos and Cinema Object Tracking Sound, marking a significant advancement in the realm of smart TVs.
Leading companies in the smart TV market are increasingly concentrating on developing advanced display technologies to improve viewer experiences and broaden entertainment options. Advanced display technology encompasses innovative systems that enhance visual performance through better color accuracy, brightness, and contrast, often employing techniques such as quantum dots, mini LEDs, and OLEDs to provide exceptional image quality and immersive viewing experiences. For example, in May 2024, TCL Technology, a consumer electronics company based in China, introduced QD-Mini LED TVs. These TVs represent a significant advancement in smart TV technology, combining Quantum Dot and Mini LED innovations to deliver outstanding picture quality with vibrant colors and remarkable brightness. They are designed with thousands of local dimming zones, allowing for precise contrast control and deeper blacks, thereby enhancing the overall viewing experience. Furthermore, these TVs are equipped with advanced processing capabilities, making them well-suited for gaming and cinematic experiences, while also supporting features like Dolby Atmos for an immersive audio experience.
In February 2024, Walmart, a US-based retail corporation, announced its agreement to acquire VIZIO Holding Corp. for an undisclosed sum. This acquisition is intended to bolster Walmart's position in the consumer electronics market by enhancing its product offerings and incorporating VIZIO's innovative technology into its retail operations. VIZIO Holding Corp. is recognized for its high-quality televisions and smart home products, aligning with Walmart's strategy to provide a broader range of entertainment options for its customers.
Major companies operating in the smart tv market include Sony Corporation, LG Corporation, TCL Corporation, Koninklijke Philips NV, Haier Electronics Group Co. Ltd., Panasonic Corporation, Samsung Electronics Co. Ltd., Apple Inc., Toshiba Corporation, Insignia Systems Inc., Intex Technologies Ltd., Vizio Inc., Intel Corporation, Sharp Corporation, Sichuan Changhong Electric Co. Ltd, Funai Electric Co. Ltd., JVC Kenwood Holdings Inc., Loewe Technology GmbH, Mitsubishi Electric Corporation, NEC Corporation, Onida Electronics, Sanyo Electric Co. Ltd., Seiki Digital, Skyworth Group Ltd., Vestel Elektronik Sanayi ve Ticaret AS, Xiaomi Inc., Grundig Intermedia GmbH, Hisense Kelon Electrical Holdings Co. Ltd.
Asia-Pacific was the largest region in the smart TV market in 2024. North America was the second-largest region in the smart TV market. The regions covered in the smart tv market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the smart tv market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The smart TV market consists of sales of 4K ultra-high-definition (UHD) TV, full high-definition (HD) TV, high-definition television (HDTV), and other smart TV. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart TV Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart tv market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart tv ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart tv market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.