Global Smart TV Market 2024-2030
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Global Smart TV Market 2024-2030

Last Updated:  Apr 25, 2025 | Study Period: 2024-2030

SMART TV MARKET

 

 INTRODUCTION

In 2008, Samsung launched the smart TV where television was transformed into a tool to interact globally.

 

It was a television set with integrated internet and storage capacity (without the need for a set-top box). It allowed users to browse/stream music & videos, OTT, internet, VOD (users have the ability to choose from available videos). and view photos.

 

Smart TV Market Size

The growing penetration of internet-enabled devices across the world has increased the consumer preference for smart home devices that includes smart TV. Smart TV now accounts for more than 70% TV shipments as compared to less than 30% in 2012-13

 

The reasons behind the growth in the market are declining prices, the rising popularity of OTT content in smart TV, and the growing prominence of online sales. To know more about Video on demand market, read our report

 

SMART TV MARKET DYNAMICS

SI NoTimelineCompanyDevelopments
1January 2021LG ElectronicsLG to Utilize Video AI-Powered Solutions to Grow Global Smart TV Software and Content Service Business.LG plans to utilize Alphonso software and services – including Alphonso's data analytics, media planning and activation, and Video AI capabilities – with its broad range of home entertainment products.
2September 2021Samsung Samsung will unveil the MICRO LED in three different sizes – 110”, 101” and 89”with Next-Generation Picture Quality and Range of Cutting-Edge Personalization Options

 

4January 2022SonySony has launched the world's first QD-OLED TV at the CES 2022.The QD-OLED is a new technology that brings better picture quality while using less energy.

 

 

SI NoTimelineCompanyDevelopments
1January 2022SamsungSamsung Electronics partnered with Home Connectivity Alliance in order to improve the future of Connected home experiences.
2December 2021SonySony Pictures and Zee Entertainment have signed an agreement to combine their linear networks, product operations and program libraries.
3January 2021TCLTCL is America's second largest TV brand and it has partnered with TiVO in order to explore the IP portfolio in the consumer electronic space.

 

Post COVID, the online education industry can also boost the smart TV demand as more kids are starting to adapt to online learning instead of the traditional classroom. A smart TV can give a superior learning experience. Easy finance/EMI options are further bringing down purchase barriers and various options on e-commerce like exchange offers etc also are improving smart TV penetration.

 

Smart TV is also impacting the space of advertising. This is done by making the advertisements micro-targeted and also with live profiling of customers, which will in-turn increase social resonance, involvement of brand, and buying act ratio.

 

In the smart TV industry, the user needs time to get comfortable with the new technology. Further, constant over the air update results in a bad experience, affordability of high-speed broadband internet in low income countries are the primary factors restraining the growth of global smart TV market.

 

COVID IMPACT ON SMART TV MARKET

Due to shelter at home guidelines issues in many states in US, buyers bought TVs at levels regularly observed during the holiday. Some buyers utilized the $1,200 government cheques.

 

US is a major market for consumer electronics and about 10% of US population buys/upgrade a TV every year. Now a sizeable portion of that volume is Smart TVs.As TVs are now being used for a variety of purposes, demand for 65 inch+ segment further expanded by 18% in 2020 in US. For Samsung North America, 75+ inch segment volumes have been fastest growing in 2020. LG , a strong rival to Samsung has also seen burgeoning demand for TVs with a tag fo $1,000 and above.

 

Streaming gadgets and set-top boxes like Roku, Apple TV etc are slowly declining in sales as smart TVs further gain ground. In Europe, it is expected that sales of TVs could decline by as much as 37% in 2020.

 

SMART TV MARKET SIZE

The unit shipments for the Smart TVs market is expected to increase from ~200 Million units in 2019 to ~265 Million units in 2025, growing at a CAGR of 4.8%.

 

The 46-55 inch segmented is expected to increase rapidly in terms of sales over the forecast period or even in the COVID-19 situation. The growth is stated because of various reasons including high resolution/high picture quality and better sound experience.

 

Smart TV Market Share

 

There has been a sharp drop in prices of 4K TV (a result of a huge increase in manufacturing capacity that led to oversupply which helps in price cutdown). Companies like Samsung and LG manufacture their own LCD that reduces market price compared to others.

 

In the recent past, Xiaomi impacted the smart TV industry in India because of its cost-effectiveness and the product sales are completely online. Among all the verticals, the residential vertical was the highest revenue contributor towards smart TV in India.

 

SMART TV MARKET RECENT DEVELOPMENTS

 

SI NoTimelineCompanyDevelopments
1November 2021OppoOppo decided to launch a new range of Smart TV in the Chinese market with the new Reno7 smartphone line-up. The Oppo’s premium S1 Smart TV is equipped with the same audio setup.
2October 2021iFFalconiFFalcon launched the new 43-inch smart Android TV, the iFFalcon U61 4K UHD TV in India. It has features like Dolby Audio and HDR 10 support and it also has a game mode.
3September 2021HyundaiHyundai Electronic released the new range of 4K Ultra HD Smart LED TVs. The Smart TV is powered by webOS TV and it has launched three variants with different sizes starting from Rs 34,490.
4September 2021VizioThe Vizio P-Series Quantum 75 inch 4K HDR Smart TV has been launched by Vizio.
5September 2021RedmiRedmi Smart TV 32 and Redmi Smart TV 43 was released by Redmi in India. They have a Dolby 5.1 surround sound system and have been launched with the aim of bringing an all round entertainment.
6September 2021CoocaaCoocaa has launched the new smart TV and smart TV OS. The coocaa S3U Pro is the first smart TV with Coolita OS 1.0.
7August 2021XiaomiXiaomi Mi LED TV 4C 32-inch smart TV was launched by Xiaomi.
8August 2021HuaweiHuawei revealed the Huawei Smart Screen V98 which is a massive 98-inch TV which is the largest smart screen from a Chinese manufacturer.
9May 2021RealmeRealme launched the new Smart TV 4K in two sizes of  43 and 50-inch.
10April 2021SonySony released the new Bravia X75 series Smart TV in India and it will be available in 43-inch for Rs 59,990 and 50-inch for Rs 72,990.

SMART TV MARKETCOMPETITOR ANALYSIS

SI NoTimelineCompanyDevelopments
1January 2021TCLTCL revealed at CES in Las Vegas Tuesday that it's now selling 10 million smart TVs a year powered by either Google TV or Android TV
2January 2022SonySony Pictures Television has acquired Industrial Media in a $350 million deal.
4December 2021SamsungSamsung Electronics shipped 1 million Neo QLED TVs.the company expected the shipment to exceed the numbers from 2020, which stood at 2 million units.

 

 

Among several players in the smart TV market, Samsung and LG are major players in terms of market share/growth. Samsung had a share of ~20% in 2019 of the TV unit sales across the globe, followed by LG with ~12% market share. 

 

LG manufactures OLED displays, considered as best in terms of color and contrast. But Samsung still uses QLED technology which is less in picture quality compared to OLED. LG’s WebOS is a better operating system with more features like Amazon Alexa/Google assistant compared to the Samsung Tizen platform. Samsung operating in 213 locations whereas LG operating in 130 locations globally.

 

In FY18, LG electronics reported $54.9 billion USD in revenue that has increased in FY19 when the company generated revenue of $55.76 billion USD.

 

SMART TV MARKET COMPETITIVE LANDSCAPE

 

SI NoTimelineCompanySales
1Q3-2021SamsungThe sales of Samsung at the end of the third quarter was KRW 73.98 trillion and in the previous year the sales was KRW 66.96 trillion.
2Q3-2021RedmiAt the end of the third quarter the revenue of Redmi was RMB 78.1 billion and in 2020 the revenue was RMB 72.2 billion.
3Q3-2021VizioThe net revenue of Vizio at the end of the third quarter was $588.3 million and in 2020 the net revenue was $582.2 million.
4Q2 FY-2021SonyThe sales of Sony at the end of the second quarter in October was ¥2,369 billion and in 2020 the sales was ¥2,105 billion.
5August 2021SonySony Pictures Entertainment Inc completed the acquisition of AT&T  Crunchyroll’s anime business through Funimation Global Group.

 

SMART TVMARKET SEGMENTATION

 

The global smart TV market is segmented by

 

Smart TV Market By Panel Type

  • LCD
  • LED and OLED
  • Plasma Display Panel

 

Smart TV MarketBy Resolution Type

  • 4K UHD TV
  • Full HDTV
  • HDTV
  • 8K TV

 

Smart TV MarketBy Distribution Channel

  • Online stores
  • Single brand stores
  • Multi-brand stores

 

Smart TV MarketBy Screen Size

  • 28 to 40 inches
  • 41 to 59 inches
  • 60 inch & larger

 

Smart TV MarketBy Screen Type

  • Flat
  • Curved

 

Smart TV MarketBy Region

  • Asia-Pacific
  • North America
  • Latin America
  • Middle-East & Africa
  • Europe

 

Smart TV MarketBy End-User

  • Enterprises
  • Consumers

 

SMART TV MARKETCOMPANIES PROFILED

  1. Samsung
  2. LG
  3. Sony
  4. TCL
  5. Huawei
  6. Xiaomi
  7. Philips
  8. Toshiba
  9. Hisense
  10. Panasonic
  11. Vizio

 

SMART TV MARKET REPORT WILL ANSWER THE FOLLOWING QUESTIONS

  • Smart TV Market size and Forecast, by region, by application
  • Average B-2-B price for Smart TV Market, by region, per user
  • Technology trends and related opportunity for new Smart TV Market tech suppliers
  • Smart TV Market share of leading vendors, by region,
  •  Coronavirus impact on Smart TV Market earnings

 

Sl noTopic
1Market Segmentation
2Scope of the report
3Abbreviations
4Research Methodology
5Executive Summary
6Introduction
7Insights from Industry stakeholders
8Cost breakdown of Product by sub-components and average profit margin
9Disruptive innovation in the Industry
10Technology trends in the Industry
11Consumer trends in the industry
12Recent Production Milestones
13Component Manufacturing in US, EU and China
14COVID-19 impact on overall market
15COVID-19 impact on Production of components
16COVID-19 impact on Point of sale
17Market Segmentation, Dynamics and Forecast by Geography, 2022-2027
18Market Segmentation, Dynamics and Forecast by Product Type, 2022-2027
19Market Segmentation, Dynamics and Forecast by Application, 2022-2027
20Market Segmentation, Dynamics and Forecast by End use, 2022-2027
21Product installation rate by OEM, 2022
22Incline/Decline in Average B-2-B selling price in past 5 years
23Competition from substitute products
24Gross margin and average profitability of suppliers
25New product development in past 12 months
26M&A in past 12 months
27Growth strategy of leading players
28Market share of vendors, 2022
29Company Profiles
30Unmet needs and opportunity for new suppliers
31Conclusion
32Appendix