It’s Only Common Sense: Why Building a Strong Personal Brand Is Critical
Dan’s Biz Bookshelf: The Ten Faces of Innovation
American Made Advocacy: Long-time Challenges Confront a New Administration
Smart TV Market Size to Reach $292.55 Billion by 2025
October 30, 2017 | PRNewswireEstimated reading time: 2 minutes
The global smart TV market is expected to reach USD 292.55 billion by 2025, according to a new report by Grand View Research, Inc. The introduction of 4K resolution-equipped televisions, coupled with the shifting preference toward OLED and QLED displays, is expected to emerge as a major trend in the smart TV industry.
Streaming devices such as Apple TV, Amazon Fire TV, and Google Chromecast are changing the consumers' viewing experience. Several manufacturers are teaming up with OTT content and device providers to provide built-in features with no further requirement of a set-top box. For instance, TCL Corporation has teamed up with Roku, Inc. and introduced a 4K HDR Roku TV. The China-based vendor is using the Roku platform for its television product line. Additionally, Hitachi, Ltd., Hisense Co. Ltd, and Sharp Corporation have also teamed up with Roku, Inc. to provide such features.
Key players have developed their proprietary operating systems or have partnered with open source providers in order to offer a plethora of apps to their customers. For instance, Google Inc.'s Android OS is widely used in televisions manufactured by Sony Corporation, LG Electronics, Inc., TCL Corporation, and Koninklijke Philips N.V.
Several regional players are focusing on expanding their presence globally to gain market share. The industry is witnessing intense rivalry among premium segment as players have exhibited keenness towards introducing and promoting Ultra High Definition (UHD) screens.
The growing popularity of smart homes has supplemented market growth as smart TVs help in enhancing the content viewing experience. As the home entertainment sector is paving its way in smart homes, the market is expected to witness increased demand over the next nine years. Large screen televisions are expected to capture substantial share fueled by rising consumer aspirations and affordable price points. Moreover, people are replacing their existing traditional televisions in the wake of availability of new high-tech and affordable solutions.
Further Key Findings From the Report Suggest:
- The 4K UHD segment is expected to witness significant growth over the forecast period. The plummeting prices of these TVs are attracting customers and triggering the demand.
- The 46- to 55-inch segment is expected to dominate the market over the forecast period. The growth can be attributed to features such as high resolution and high picture quality with Dolby Digital sound, which can be better experienced on larger screen sizes.
- Flat-screen TVs dominated the market in 2016 and are expected to continue doing so due to their relatively lower prices as compared to their curved-screen counterparts.
- The Asia Pacific region is expected to dominate the overall smart TV market with an expected CAGR of over 10% throughout the forecast period. The emergence of new players in China is expected to contribute to the regional growth.
- The key players in the industry include Samsung Electronics Co. Ltd., LG Electronics, Inc., Sony Corporation, Panasonic Corporation, and Videocon Industries Limited.
Share on:
Suggested Items
DuPont Announces CEO and Non-Executive Chair for the Planned Independent Electronics Company
03/17/2025 | DuPontDuPont announced Jon Kemp, President, DuPont Electronics & Industrial will be the Chief Executive Officer and a member of the board of directors for the future independent Electronics public company that will be created following its intended spin-off from DuPont.
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
03/14/2025 | Nolan Johnson, I-Connect007Inside the industry, it feels like we’re getting ready for a big party holiday, and I’m feeling the whole Mardi Gras vibe. This weekend, IPC APEX EXPO kicks off with standards development committees and the Technical Conference before the Expo starts on March 18. We’ll be sneaking out of our network of evil lairs scattered around North America and convening at the I-Connect007 booth in the middle of the Anaheim Convention Center. Be sure to stop by and say hello.
Vexos Enhances Global Manufacturing Footprint with New Electronics Manufacturing Facility in China
03/13/2025 | EINPresswire.comVexos, a leading global provider of Electronic Manufacturing Services (EMS) and Custom Material Solutions (CMS), is pleased to announce the successful relocation of its China operations to a newly opened, state-of-the-art manufacturing facility in Dongguan, China.
Aismalibar to Showcase Advanced Thermal Management Solutions at APEC 2025
03/13/2025 | AismalibarAismalibar, a global leader in high-performance thermal management materials, is set to exhibit at APEC 2025 (Applied Power Electronics Conference) in Atlanta, Georgia, from March 16–20, 2025. As the premier event for power electronics professionals, APEC provides a crucial platform for industry leaders to explore the latest advancements in thermal interface materials (TIMs), high-performance PCB laminates, and insulated metal substrates (IMS).
IPC Asia’s Talent Development Program Opens Pathways to a More Qualified Workforce
03/14/2025 | Evelyn Cui, IPC AsiaIn Asia, the contradiction between the rapid development of the electronics manufacturing industry and the shortage of talent is particularly evident. The existing talent pool cannot fully meet the market's demand for highly skilled professionals. According to feedback from industry companies, there is an urgent need for professionals with knowledge of IPC standards and practical skills in electronics. However, the reality is that most academic courses are disconnected from the actual needs of the industry, leading to disappointing results when companies recruit from universities and schools.