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Last Updated: Apr 25, 2025 | Study Period: 2024-2030
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.
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
SI No | Timeline | Company | Developments |
1 | January 2021 | LG Electronics | LG to Utilize Video AI-Powered Solutions to Grow Global Smart TV Software and Content Service Business.LG plans to utilize Alphonso software and services â including Alphonso's data analytics, media planning and activation, and Video AI capabilities â with its broad range of home entertainment products. |
2 | September 2021 | Samsung | Samsung will unveil the MICRO LED in three different sizes â 110â, 101â and 89âwith Next-Generation Picture Quality and Range of Cutting-Edge Personalization Options
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4 | January 2022 | Sony | Sony 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.
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SI No | Timeline | Company | Developments |
1 | January 2022 | Samsung | Samsung Electronics partnered with Home Connectivity Alliance in order to improve the future of Connected home experiences. |
2 | December 2021 | Sony | Sony Pictures and Zee Entertainment have signed an agreement to combine their linear networks, product operations and program libraries. |
3 | January 2021 | TCL | TCL 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.
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.
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.
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.
SI No | Timeline | Company | Developments |
1 | November 2021 | Oppo | Oppo decided to launch a new range of Smart TV in the Chinese market with the new Reno7 smartphone line-up. The Oppoâs premium S1 Smart TV is equipped with the same audio setup. |
2 | October 2021 | iFFalcon | iFFalcon 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. |
3 | September 2021 | Hyundai | Hyundai 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. |
4 | September 2021 | Vizio | The Vizio P-Series Quantum 75 inch 4K HDR Smart TV has been launched by Vizio. |
5 | September 2021 | Redmi | Redmi 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. |
6 | September 2021 | Coocaa | Coocaa has launched the new smart TV and smart TV OS. The coocaa S3U Pro is the first smart TV with Coolita OS 1.0. |
7 | August 2021 | Xiaomi | Xiaomi Mi LED TV 4C 32-inch smart TV was launched by Xiaomi. |
8 | August 2021 | Huawei | Huawei revealed the Huawei Smart Screen V98 which is a massive 98-inch TV which is the largest smart screen from a Chinese manufacturer. |
9 | May 2021 | Realme | Realme launched the new Smart TV 4K in two sizes of 43 and 50-inch. |
10 | April 2021 | Sony | Sony 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. |
SI No | Timeline | Company | Developments |
1 | January 2021 | TCL | TCL 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 |
2 | January 2022 | Sony | Sony Pictures Television has acquired Industrial Media in a $350 million deal. |
4 | December 2021 | Samsung | Samsung Electronics shipped 1 million Neo QLED TVs.the company expected the shipment to exceed the numbers from 2020, which stood at 2 million units.
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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. LGâs 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.
SI No | Timeline | Company | Sales |
1 | Q3-2021 | Samsung | The 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. |
2 | Q3-2021 | Redmi | At 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. |
3 | Q3-2021 | Vizio | The 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. |
4 | Q2 FY-2021 | Sony | The 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. |
5 | August 2021 | Sony | Sony Pictures Entertainment Inc completed the acquisition of AT&T Crunchyrollâs anime business through Funimation Global Group. |
The global smart TV market is segmented by
Sl no | Topic |
1 | Market Segmentation |
2 | Scope of the report |
3 | Abbreviations |
4 | Research Methodology |
5 | Executive Summary |
6 | Introduction |
7 | Insights from Industry stakeholders |
8 | Cost breakdown of Product by sub-components and average profit margin |
9 | Disruptive innovation in the Industry |
10 | Technology trends in the Industry |
11 | Consumer trends in the industry |
12 | Recent Production Milestones |
13 | Component Manufacturing in US, EU and China |
14 | COVID-19 impact on overall market |
15 | COVID-19 impact on Production of components |
16 | COVID-19 impact on Point of sale |
17 | Market Segmentation, Dynamics and Forecast by Geography, 2022-2027 |
18 | Market Segmentation, Dynamics and Forecast by Product Type, 2022-2027 |
19 | Market Segmentation, Dynamics and Forecast by Application, 2022-2027 |
20 | Market Segmentation, Dynamics and Forecast by End use, 2022-2027 |
21 | Product installation rate by OEM, 2022 |
22 | Incline/Decline in Average B-2-B selling price in past 5 years |
23 | Competition from substitute products |
24 | Gross margin and average profitability of suppliers |
25 | New product development in past 12 months |
26 | M&A in past 12 months |
27 | Growth strategy of leading players |
28 | Market share of vendors, 2022 |
29 | Company Profiles |
30 | Unmet needs and opportunity for new suppliers |
31 | Conclusion |
32 | Appendix |