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Global Smart TV Market 2020-2024 | 21% CAGR Projection Through 2024 | Technavio

LONDON--(BUSINESS WIRE)--Feb 19, 2020--

The global smart TV market is expected to post a CAGR of more than 21% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled Global Smart TV Market 2020-2024 (Graphic: Business Wire)

The growing popularity of 4K video and video streaming services has encouraged market vendors to introduce smart TVs that emphasize visual perfection. This has led to the increased penetration of advanced display technologies such as OLED and QLED displays. These technologies improve the color, lighting, sharpness, and contrast and significantly reduce the thickness and overall weight of the TV. In 2019, Samsung launched its QLED 8K TV with Bixby voice assistance. Similarly, LG has announced its plans to launch a series of high-end OLEDs in 2020 with AI and deep learning algorithms. The introduction of such smart TVs will drive the growth of the market during the forecast period.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41015

As per Technavio, the growing prominence of online sales will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Global Smart TV Market: Growing Prominence of Online Sales

The growing penetration of internet-enabled mobile devices across the world has increased the consumer preference for online shopping. This has encouraged TV manufacturers to offer their products through their own websites and other e-commerce websites. For instance, Xiaomi sells premium TV models to its customers through online retail channels in emerging economies, such as India. During the period April 2018 and October 2018, the company sold more than 500,000 Mi smart TVs in India. Therefore, the increase in online sale of smart TVs is expected to boost the growth of the global smart TV market during the forecast period.

“Influence of digital media on smart TV advertising and marketing and the rising popularity of OTT content in smart TVs will further boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Smart TV Market: Segmentation Analysis

This market research report segments the global smart TV market by distribution channel (offline and online) and geography (APAC, Europe, MEA, North America, and South America).

The APAC region led the smart TV market in 2019, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth. This is due to the increase in the number of OTT service providers and the availability of a diverse range of technologically advanced smart TVs in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200219005547/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:[email protected]

Website:https://www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 02/19/2020 12:00 PM/DISC: 02/19/2020 12:01 PM

http://www.businesswire.com/news/home/20200219005547/en

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