Increasing Use of Smartphones has Led to Growth of Smartphone TV Market in Future

Posted July 7, 2020 by Gauri04

The Global Smart TV Market was valued at USD 98.55 billion in 2018; it is expected to reach USD 195.47 Billion by the end of the forecast period at a CAGR of 10.9%

Industry Insight
As per the market research study by Market Research Future (MRFR), in the past years, the market for Smartphone TV was highly valued several years back. Now the market is predicted to achieve more valuation by the end of 2023, registering an exponential CAGR between the years 2019 and 2023.

Top Market Factors & Drivers
MRFR, in its study, reveals that Smartphone TV market growth is attributed to factors such as surging use of Smartphones among the people across the world. The Smartphone TV Market has encountered significant development over the recent years and is anticipated to grow tremendously over the assessment period. Smartphone TV offers live spilling of video content on the handheld cell phone anytime and anyplace. Some of the primary considerations driving the development of the Smartphone TV market are the expanding utilization of cell phones and tablets around the world.

The Smart TVs market has qualified a notable interest from the Smartphone manufacturers in recent times. The leading Smartphone brands such as Micromax, Xiaomi, and OnePlus are set to interrupt the smart television space, which has so far been led by electronics giants such as Sony and Samsung. This factor has been attributed to be the most influential one to motivate the market during the forecast period.

The study has also emphasized on the fact that in some of the developing countries, internet penetration rates have been short-term in comparison to the developed economies. This has adversely affected the adoption rates of Smart TVs in the developed nations, which is what the developed nations are creating high valuation in the market, and it is likely to continue over the assessment period, MRFR finds.

The approval of innovative technologies, such as Quantum dot LEDs (QLEDs), crossways the Ultra-high-definition (UHD) in 4K Smartphone TVs, is anticipated to fuel the demand over the assessment period. Televisions belonging to such a range have high penetration rates when compared to the others, which has made the market more and more valuable than before.

Segmentation of Market: Smartphone TV
The Smartphone TV market has been studied segmentation wise over various segments of usage and service.

The service segment of the market has included free-to-air and pay-TV services. Among these, pay-TV services lead the market and are anticipated to expand at the highest rate during the forecast period. On the other hand, the free-to-air service segment of the Smartphone TV market might witness a decline in market share owing to rising consumer preference for premium video content or TV channels.

Regional Outlook
Europe, Asia, North America, and the Rest of the World (ROW) are the regions studied for understanding the dynamics of the global smart TV market.

Asia-Pacific is the leading market for smart TVs, and it is anticipated to continue its lead over the assessment period, owing to rising demand for smart TVs by end-users, and the emerging economies of China, India, and South Korea. The surging net disposable income of consumers has been a significant factor for continued demand in the region. The incidence of the Chinese players has been prominent in the competitive pricing of products in markets, many of which have entered with partnerships with e-commerce platforms to provide several products. Third-party service providers have assisted in assuring that consumers opt for these products, thus helping the market indirectly to grow.

In fact, over 127% of the market’s growth will invent from APAC during the forecast period, as per the study conducted. Countries like China and India are the key markets for Smartphones in the APAC region. The market growth in this region will be faster than the growth of the market in other geographies.

Top Market Players
The well-known players in Smartphone TV market are included Comcast Corporation (U.S.), AT&T, Inc. (U.S.), Sky PLC (U.K.), MobiTV, Inc. (U.S.), Verizon Communications, Inc. (U.S.), Charter Communications (U.S.), Orange S.A. (France), Bell Canada (Canada), Consolidated Communications, Inc. (U.S.) and Bharti Airtel Limited (India).

More Information :
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Issued By MRFR
Country India
Categories Marketing
Tags Smartphone TV Market , Smartphone TV Market Report , Smartphone TV Market Research
Last Updated July 7, 2020