The market for connected TVs is expected to reach a value of $12.6 billion in 2022 and $16.2 billion in 2032. It is anticipated to demonstrate growth at a CAGR of 13.7% from 2022 to 2032. The demand for connected TVs is expected to increase in the near future as more established and emerging companies release TV sets with 8K and 4K resolutions.
Connected TVs are regarded as unique varieties of contemporary TVs that let users watch videos thanks to high-speed internet connectivity. These assist in providing viewers with a more immersive experience by offering special features like video streaming, social networking, video on demand, and web browsing in addition to standard TV viewing.
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The connected TV market is a rapidly growing industry that involves the production and distribution of television sets and set-top boxes that are capable of connecting to the internet and accessing online content. Connected TVs offer users a range of features and benefits, such as access to streaming services, social media, and gaming, as well as the ability to control the TV using voice commands and mobile devices.
One of the key drivers of the connected TV market is the increasing demand for streaming services, such as Netflix, Amazon Prime Video, and Hulu. Connected TVs provide users with a convenient and seamless way to access these services, without the need for additional devices or cables.
The market for connected TVs is also being driven by advancements in technology, such as the integration of artificial intelligence and voice recognition. These features enable users to control their TVs using voice commands and interact with content in new and innovative ways.
Market Competition
Some of the prominent players operating in the global connected TVs market are
- Koninklijke Philips NV,
- Apple Inc.,
- Insignia Systems Inc.,
- Samsung Electronics Co. Ltd.,
- Haier Group Corporation,
- Panasonic Corporation,
- Hisense Group Co. Ltd.,
- Westinghouse Electric Corporation,
- VIZIO Inc.,
- TCL Corporation,
- Hitachi Ltd.,
- Sony Corporation, and
- LG Electronics Inc. among others.
Majority of the leading players are aiming to broaden their geographic presence and attract more customers across the globe. The market is set to create lucrative investment opportunities for key companies owing to the high consumer interest in connected TVs. Meanwhile, some of the other companies are striving to invest in advanced technologies to gain a sustainable competitive edge and substantial expertise.
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Key Segments Profiled in the Connected TVs Industry Survey
By Device:
- Smart TV
- Streaming Media Player
By Resolution Type:
- HDTV
- Full HD TV
- 4K UHD TV
By Inch:
- 40-50 Inch
- 30-40 Inch
- Below 30 Inch
- Above 50 Inch
By Panel Type:
- QLED
- OLED
- LED
- LCD
By Price Range:
- High
- Medium
- Low
By End Use:
- Residential
- Industrial
- Commercial
- Entertainment Services
- Retail
- Healthcare
- Corporates
- Institutes
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
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