(EMAILWIRE.COM, November 20, 2018 ) Smart TV market is anticipated to reach USD 341.6 billion by 2026. In 2017, the Full HD Smart TV segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period. – According to a new study published by Polaris Market Research
Asia-Pacific generated the highest revenue in the market in 2017 and is expected to lead the global market throughout the forecast period. The increasing disposable incomes in developing countries of this region, and growing media and entertainment industry drive the market growth in the region. There has been a significant increase in the shipment of smart TVs in the region. The growing demand for high quality audio and video services, along with the need to connect to the internet has encouraged consumers to invest in smart TVs. Local players are introducing low cost Smart TVs with advanced technologies to cater to the growing demand of consumers. Numerous key players have adopted partnership and expansion strategies to increase their market share in Smart TV markets of the Asia-Pacific region.
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Top Companies Profiles :
LG Electronics, Inc., Koninklijke Philips N.V., Sony Corporation, Samsung Electronics Co. Ltd., Sharp Corporation, Hitachi Ltd., Toshiba Corporation, Haier Electronics Group Co., Ltd., Panasonic Corporation, Videocon Industries Limited, and Skyworth Digital Holdings Ltd. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers
The increasing adoption of 4K televisions, and growing penetration of high speed internet have boosted the adoption of smart TVs. Increasing disposable incomes, and growth in media & entertainment industry further support the growth of this market. Increasing penetration of televisions, growing demand for superior video and audio television content, and rising consumption of online content boost the adoption of smart TVs. Increasing investments by vendors in technological advancements coupled with increasing demand from emerging economies further boost the market growth.
The growing disposable income has encouraged consumers to buy technologically advanced television sets that are in perfect amalgamation with their increasing living standards. Moreover, consumers are opting for high quality video and audio services along with the ability to connect to the internet. Thus, lofty living standards and increasing consumption of online content, would contribute to the growth of the smart TV market, thereby positively affecting the market growth.
The different ranges of screen sizes covered in the report include 28 to 40 Inches, 41 to 59 Inches, and above 60 Inches. In 2017, the 41 to 59 inches segment accounted for the highest market share. Smart TVs with screen sizes in the range of 41 to 59 inches are gaining traction worldwide owing to improved capability to offer superior video and audio quality along with additional features. Introduction of low cost smart TVs by the market players have boosted the growth of this market segment.
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.
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