Research Reports
Smart TV Market Forecast Based on Major Drivers & Trends Up to 2031
Published by mark itwired
Posted on September 8, 2021
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Published by mark itwired
Posted on September 8, 2021
With the surge in the demand for smart TVs, leading manufactures have now shifted their focus on technologies that cater to multi-functional consumer needs. Future Market Insights (FMI) in its latest study has forecast the smart TV market to rise at a CAGR of ~24.7% between 2021 and 2031.
Innovations are transforming the television industry by integrating advanced technologies like artificial intelligence (AI), Internet of Things (IoT), Google Assistance, and internet connected services in latest models of smart televisions, which were not available in traditional cathode-ray tube (CRT) televisions.
The smart TV industry consists of several big players like the Samsung Group, TLC Corporation, Panasonic Corporation, and Sony Corporation. The smart TV industry is being viewed as lucrative investment opportunity due to enormous customer interest.
Partnerships between big companies and small players are bolstering the scope for growth. Manufacturers are focusing on developing innovative product features, in addition to effectively developing sales and distribution channels. Most consumers focus on online product research before making a purchase.
As a result, manufacturers are increasing their product presence and online availability. In addition, the increasing popularity of smart homes among middle-class urban population is a major factor fuelling the demand for smart TVs in the market.
Get more Insights Analysis on this Smart TV Market @ https://www.futuremarketinsights.com/ask-question/rep-gb-3633
“Online steaming services and smart TVs have developed a symbiotic relationship, where the latter benefits from the use of the myriad options offered by steaming services- which in turn will complement the growth of the smart TV market through the end of 2031,” says an FMI analyst.
The COVID-19 pandemic has adversely impacted the smart TV market. Lockdown imposed by governments, suspended operations in manufacturing facilities. Restrictions were imposed on the movement of non-essential goods and services for months, which hampered the overall supply/distribution for smart TVs across the globe.
Samsung which has manufacturing facilities in Vietnam, the Czech Republic, and Hungary was relatively less affected in 2019. However, with the closing of Hungary’s boarders and the lock down in Czech Republic, Samsung faced difficulties in operating its European facilities.
The outbreak had a negative impact on businesses in 2020 and continued to affect operations in 2021. However, in the current scenario, the smart TV market is expected to recover steadily from the downfall in the forecast period.
Key players operating in the smart TV market include Samsung Electronics Co., Ltd, Panasonic Corporation, LG Electronics, Inc., Sony Corporation, Videocon Industries Limited, Haier Electronics Group Co, Ltd, TCL Corporation., Hisense Group, Sansui Electric Co., Ltd., Micromax Informatics, Sharp Corporation, VIZIO, Inc., Apple Inc, Toshiba Corporation, Hitachi Ltd and among others.
Players in the moderately consolidated smart TV market are largely involved in strategies for product development and launches in addition to investments for geographical and capacity expansion to sustain long term growth.
Future Market Insights, in its new offering, provides an unbiased analysis of the global smart TV market, presenting historical demand data (2016-2020) and forecast statistics for the period from (2021-2031). The study divulges compelling insights on the smart TV market based on the display technology type (LED, QLED, HDR, OLED, LCD, IPS LCD, and XLED), screen type (flat, curved and foldable), screen size (32 inches and under, 33 to 44 inches, 45 to 50 inches, 51 to 55 inches, 56 to 65 inches, 66 inches and above), application type (residential and commercial{ hotels, restaurants, corporate offices, cafeterias, and others}) price (under US$ 500, US$500 – US$ 1000, US$ 1000 – US$ 2000, US$ 2000 – US$ 3000 and US$ 3000 and above), sales channel (hypermarkets/supermarkets, speciality stores, multi-brand stores, online retailers, wholesalers & distributors, and other sales channel), across seven major regions.
The post Smart TV Market Forecast Based on Major Drivers & Trends Up to 2031 first appeared on Market Research Blog.
With the surge in the demand for smart TVs, leading manufactures have now shifted their focus on technologies that cater to multi-functional consumer needs. Future Market Insights (FMI) in its latest study has forecast the smart TV market to rise at a CAGR of ~24.7% between 2021 and 2031.
Innovations are transforming the television industry by integrating advanced technologies like artificial intelligence (AI), Internet of Things (IoT), Google Assistance, and internet connected services in latest models of smart televisions, which were not available in traditional cathode-ray tube (CRT) televisions.
The smart TV industry consists of several big players like the Samsung Group, TLC Corporation, Panasonic Corporation, and Sony Corporation. The smart TV industry is being viewed as lucrative investment opportunity due to enormous customer interest.
Partnerships between big companies and small players are bolstering the scope for growth. Manufacturers are focusing on developing innovative product features, in addition to effectively developing sales and distribution channels. Most consumers focus on online product research before making a purchase.
As a result, manufacturers are increasing their product presence and online availability. In addition, the increasing popularity of smart homes among middle-class urban population is a major factor fuelling the demand for smart TVs in the market.
Get more Insights Analysis on this Smart TV Market @ https://www.futuremarketinsights.com/ask-question/rep-gb-3633
“Online steaming services and smart TVs have developed a symbiotic relationship, where the latter benefits from the use of the myriad options offered by steaming services- which in turn will complement the growth of the smart TV market through the end of 2031,” says an FMI analyst.
The COVID-19 pandemic has adversely impacted the smart TV market. Lockdown imposed by governments, suspended operations in manufacturing facilities. Restrictions were imposed on the movement of non-essential goods and services for months, which hampered the overall supply/distribution for smart TVs across the globe.
Samsung which has manufacturing facilities in Vietnam, the Czech Republic, and Hungary was relatively less affected in 2019. However, with the closing of Hungary’s boarders and the lock down in Czech Republic, Samsung faced difficulties in operating its European facilities.
The outbreak had a negative impact on businesses in 2020 and continued to affect operations in 2021. However, in the current scenario, the smart TV market is expected to recover steadily from the downfall in the forecast period.
Key players operating in the smart TV market include Samsung Electronics Co., Ltd, Panasonic Corporation, LG Electronics, Inc., Sony Corporation, Videocon Industries Limited, Haier Electronics Group Co, Ltd, TCL Corporation., Hisense Group, Sansui Electric Co., Ltd., Micromax Informatics, Sharp Corporation, VIZIO, Inc., Apple Inc, Toshiba Corporation, Hitachi Ltd and among others.
Players in the moderately consolidated smart TV market are largely involved in strategies for product development and launches in addition to investments for geographical and capacity expansion to sustain long term growth.
Future Market Insights, in its new offering, provides an unbiased analysis of the global smart TV market, presenting historical demand data (2016-2020) and forecast statistics for the period from (2021-2031). The study divulges compelling insights on the smart TV market based on the display technology type (LED, QLED, HDR, OLED, LCD, IPS LCD, and XLED), screen type (flat, curved and foldable), screen size (32 inches and under, 33 to 44 inches, 45 to 50 inches, 51 to 55 inches, 56 to 65 inches, 66 inches and above), application type (residential and commercial{ hotels, restaurants, corporate offices, cafeterias, and others}) price (under US$ 500, US$500 – US$ 1000, US$ 1000 – US$ 2000, US$ 2000 – US$ 3000 and US$ 3000 and above), sales channel (hypermarkets/supermarkets, speciality stores, multi-brand stores, online retailers, wholesalers & distributors, and other sales channel), across seven major regions.
The post Smart TV Market Forecast Based on Major Drivers & Trends Up to 2031 first appeared on Market Research Blog.