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Pune, India, 30 September 2019, MRFR Press Release/-Market Research Future published a half-cooked research report on the global smart TV market.
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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.
The global smart TV market is characterized by the presence of several players. On the basis of geography, the global smart TV market has been segmented into North America, Europe, Asia-Pacific, and rest of the world. The market is highly competitive with all the players competing to gain maximum market share. The major players across North America compete based on cost, product quality, and regional distribution. It becomes crucial for manufacturers to provide extensive product variations and high-quality smart TVs to compete in the global market. The growth of the North American market is dependent on market conditions, government support, and industry development. Thus, the major players particularly focus on acquisitions, expansions, new product launches, and collaborations. Most of the companies operating in the global market are expanding operations across different regions in the US, augmenting their capabilities, and building strong partner relations. Samsung Electronics Corporation Ltd, LG Electronics, Sony Corporation, and Vizio Inc. are the major companies operating in the global smart TV market.
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.
The rapid transformation in the modes of content delivery from the traditional platforms to subscription video-on-demand (SVOD) services has led to the popularity of media providers such as Netflix, HBO Go, Hulu, and Amazon Prime Video. The growing demand for media streaming applications among consumers to watch movies, series, and songs on a single platform is boosting the viewer count across the globe. Additionally, the compatibility of smart TVs with subscription-based media applications is a major reason driving the growth of the smart TV market.
According to Market Research Future, the global smart TV market has been segmented based on resolution, technology, platform, size, distribution channel, application, and region. By resolution, the smart TV market has been segmented into 720p, 1080p, 4K, 8K, and others. Among these, 4K dominated the smart TV market in 2018 due to vivid image quality and lower energy consumption. Although 8K resolution is still in the growth stage, 4K is expected to grow at the highest CAGR during the forecast period as it is compatible with the current media content resolution.
The key players in the smart TV market are identified across all the major regions based on their country of origin, presence, recent key developments, product diversification, and industry expertise. Some of them are LG Electronics Inc. (US), Samsung Electronics Co. Ltd (US), Sony Corporation (Netherlands), Panasonic Corporation (US), Vizio Inc. (US), Apple Inc. (Germany), Hisense Group Co. Ltd (Ireland), Koninklijke Philips NV (Sweden), TCL Corporation. (US), Insignia Systems Inc. (US), Haier Group Corporation. (US), Hitachi Ltd (US), Roku (US), Changhong (),and Konka (UK). These players contribute significantly to market growth. Apart from the top key players, the other players contribute nearly 35–40% in the smart TV market.
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