Smart TV Market Detailed Analysis: Insights, Trends, Size, Share, and Industry Growth Forecast to 2031

Smart TV Market Size, Share & Trends Analysis Report Bt Resolution Type (4K UHD TV, HDTV, Full HD TV, 8K TV), By Screen Size Type (Below 32 Inches, 32 to 45 Inches, 46 to 55 inches, 56 to 65 Inches, above 65 Inches), By Screen Type (Flat, Curved), Global Economy Insights, Regional Outlook, Growth Potential, Price Trends, Competitive Market
Market Overview:
Global Smart TV Market size was valued at USD 198.21 billion in 2022 and is projected to reach USD 515.28 billion by 2031, growing at a CAGR of 11.2 % during the forecast period (2023-2031) according to a new report by IMIR Market Research.
A smart TV device is either a television set with built-in Internet access or a set-top box for television with more sophisticated connectivity and computational power than a modern basic television set. A Smart TV is an information appliance that can be compared to a mobile device’s computer system attached to a television set. A complete operating system or mobile operating system is operated by a smart tv, which might serve as a platform for app developers. As a result, a Smart TV frequently enables the user to install and use more sophisticated plugins or add-ons based on its unique platform.
Smart TVs cover a lot of ground. Smart TVs go beyond traditional television viewing with their comprehensive features and functionalities, giving customers access to a flexible and connected entertainment hub that is at the centre of their digital lives. The widespread adoption of digital television in the middle of the 2000s and the beginning of the 2010s considerably enhanced Smart TVs. The majority of TV makers have stated that they will only produce middle-range to high-end Smart TVs in 2015. Smart TVs rose to prominence in the late 2010s. Beginning in 2016, Nielsen found that 29% of those with yearly salaries over $75,000 owned a smart TV. According to a study by the research firm NPD According to In-Stat, only roughly 12 million American households have Internet-connected TVs in 2012, despite an estimated 25 million households owning sets with built-in network functionality. According to In-Stat, 100 million homes in Western Europe and North America will have televisions that mix traditional programming with online information by 2016. Around the world, there were 1.26 billion Connect TVs installed as of the end of 2019. Over the years, the number of households adopting over-the-top television services has grown significantly. In 2015, 43% of pay-TV subscribers also used Netflix, and 43% of individuals used a streaming video on demand service at least regularly. In addition, 52% of American households had a Netflix, Amazon Prime, or Hulu Plus subscription. Furthermore, 19% of Netflix users shared their membership with non-family members. At the time, 10% of adults expressed interest in HBO Now.
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The Smart TV market research report comprises a thorough examination of the current and future scenario of this industry vertical. The research highlights major trends and opportunities, as well as challenges, for various segments and sub-segments, while broadening the company horizon. The study report also includes extensive information based on past and present patterns across several industry verticals to help find various expansion prospects. Throughout the forecast period, several estimations regarding market share, market size, and industry growth rate are presented. The research includes information on competitive analysis as well as consumption habits and pricing strategies depending on the Smart TV market.
Scope of Smart TV Market Report:
A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Smart TV Market. On the basis of historic growth analysis and current scenario of Smart TV market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Smart TV market. This further helps users with their developmental strategy.
This report examines all the key factors influencing growth of global Smart TV market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of global Smart TV market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, pricing strategies, innovation possibilities and much more.
The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The Global Smart TV Market Industry Drivers:
Rise in streaming services and OTT content:
The proliferation of streaming platforms like Netflix, Amazon Prime Video, and Disney+ has created a demand for smart TVs that can directly access these services without the need for additional devices, making streaming content more accessible and convenient. The OTT (Over-the-top) industry in India has been growing at a rapid pace in recent years. With the increasing availability of affordable smartphones and high-speed internet, more and more people are turning to digital content for their entertainment needs.The OTT (or streaming) industry dominated news coverage in India throughout the two pandemic years (2020 and 2021). OTT emerged as the new and exciting destination for high-quality entertainment material when theatres were largely closed and television content remained static.
During this time, a number of movies were released straight online, and new platforms in various Indian languages were also introduced. New programs were released every week on well-known platforms including Disney+ Hotstar, Prime Video, Netflix, and others.As of October 1, 2022, Disney+Hotstar had approximately 61.3 million subscribers, which dropped to reach around 57.5 million as per current estimates. The end of the platform’s content partnership with HBO on March 31 this year and loss of IPL 2023 streaming rights to JioCinema may further the declining trend.Analysis from consultancy firm Arthur D Little shows that Netflix currently has 6.1 million subscribers in India while Amazon Prime Video has 22.3 million. The firm puts Disney+Hotstar’s subscriber base at 51 million.
The Global Smart TV Market Industry Restraint:
Privacy and security issues:
Smart TVs are connected to the internet almost all the time and are also connected to different smart devices in your home. This puts the TV at risk of hacking. Hackers can get access to the settings and applications of the TV and take control of it to compromise various online accounts. Hackers can get access to the built-in cameras and microphones of the TV and control them for malicious purposes. They can even control the programming of your TV and hack into your other smart devices like your phone, laptop, etc. and access your information. Also if you browse the internet or do online shopping through your smart TV, all the details that you put in there like passwords, bank card details, etc. can be hacked by a third party