The global smart TV market is projected to touch a valuation of USD 292.55 billion by 2025, according to a report by Grand View Research, Inc. Smart TVs are next-generation television sets characterized by their high-quality resolution of pictures and low mass. Technological developments in television sets and premium content offerings by Over-The-Top (OTT) providers have garnered a significant interest among consumers. The advent of smart homes, Internet-of-Things (IoT), and craving for high-quality content are pushing the need for better entertainment units.
Types of smart TVs include 4K UHD TV, HDTV, full HDTV, and 8K TV. Xiaomi, one of the emerging manufacturers of consumer electronics, had launched the first smart TV called Mi TV 4 in India in February 2018. The presence of flagship stores and partnerships with online retailers has resulted in easy availability of these TVs. The focus on high-resolution imagery has led to the launch of High Dynamic Range (HDR) TVs by major enterprises such as LG and Sharp Corporation. This can be attributed to rising demand for 3D entertainment and rapid switch to the latest technologies by major entertainment and gaming platforms. In January 2018, Sony and Panasonic Corporation collaborated with Japan Broadcasting Corporation (NHK) to develop 8K TVs.
Click Here For More Insight : https://www.grandviewresearch.com/industry-analysis/smart-tv-industry
Manufacturers have embedded gesture recognition features in their TV units to entice consumers. In addition, they are creating their own operating systems to provide an enjoyable experience to users. However, majority of smart TVs are Android-based and compatible with external streaming devices such as Amazon Firestick. The use of intelligent voice assistants to remotely control the TV and other compatible devices will be a boon for technology enthusiasts.
Recognizing the rising popularity of internet-based or online content, especially among younger generation, manufacturers have included compatibility to install OTT applications such as Netflix and HBO Go. Manufacturers are testing waters to launch personalized advertisements for its users based on their viewing habits. In June 2016, Samsung launched its own content channel in Thailand and Vietnam with the addition of extra on-demand services in a TV guide format. The trend of cord cutting is expected to continue with users transitioning to these platforms due to better content and image quality.
The smart TV market is anticipated to expand at a 9.5% CAGR over the forecast period (from 2018 to 2025) due to transition towards online content consumption. High-speed Internet connections and growing number of OTT providers are expected to spur market development. Demand for high-end TV units with larger displays is likely to open new growth prospects. Key market players include Panasonic Corporation; Samsung Electronics Co. Ltd.; LG Electronics, Inc.; and Sony Corporation.
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Types of smart TVs include 4K UHD TV, HDTV, full HDTV, and 8K TV. Xiaomi, one of the emerging manufacturers of consumer electronics, had launched the first smart TV called Mi TV 4 in India in February 2018. The presence of flagship stores and partnerships with online retailers has resulted in easy availability of these TVs. The focus on high-resolution imagery has led to the launch of High Dynamic Range (HDR) TVs by major enterprises such as LG and Sharp Corporation. This can be attributed to rising demand for 3D entertainment and rapid switch to the latest technologies by major entertainment and gaming platforms. In January 2018, Sony and Panasonic Corporation collaborated with Japan Broadcasting Corporation (NHK) to develop 8K TVs.
Click Here For More Insight : https://www.grandviewresearch.com/industry-analysis/smart-tv-industry
Manufacturers have embedded gesture recognition features in their TV units to entice consumers. In addition, they are creating their own operating systems to provide an enjoyable experience to users. However, majority of smart TVs are Android-based and compatible with external streaming devices such as Amazon Firestick. The use of intelligent voice assistants to remotely control the TV and other compatible devices will be a boon for technology enthusiasts.
Recognizing the rising popularity of internet-based or online content, especially among younger generation, manufacturers have included compatibility to install OTT applications such as Netflix and HBO Go. Manufacturers are testing waters to launch personalized advertisements for its users based on their viewing habits. In June 2016, Samsung launched its own content channel in Thailand and Vietnam with the addition of extra on-demand services in a TV guide format. The trend of cord cutting is expected to continue with users transitioning to these platforms due to better content and image quality.
The smart TV market is anticipated to expand at a 9.5% CAGR over the forecast period (from 2018 to 2025) due to transition towards online content consumption. High-speed Internet connections and growing number of OTT providers are expected to spur market development. Demand for high-end TV units with larger displays is likely to open new growth prospects. Key market players include Panasonic Corporation; Samsung Electronics Co. Ltd.; LG Electronics, Inc.; and Sony Corporation.
Get Free Sample Report : https://www.grandviewresearch.com/industry-analysis/smart-tv-industry/request
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