Global Smart TV Market To Witness Over 293 Million Units Growth During 2020-2024 | Technavio

Shape strategic responses through the phases of industry recovery
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NEW YORK, June 15, 2021 /PRNewswire/ --

The smart TV market is expected to grow by 293.32 million units during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the smart TV market in optimistic, probable, and pessimistic forecast scenarios.

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The smart TV market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth is likely to increase in 2020 as compared to 2019.

With the continuing spread of the coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.

Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
  • Pre- as well as post-COVID-19 market estimates
  • Quarterly impact analysis and updates on market estimates

The smart tv market is driven by technological advances in TV resolution. In addition, the growing influence of digital media on smart TV advertising is expected to trigger the smart TV market toward witnessing a CAGR of over 21% during the forecast period.

Discover all the statistics and insights on smart TV sales and related segmentation. Gain competitive intelligence and regional opportunities in store for vendors: www.technavio.com/statistics/size-of-smart-tv

Major Five Smart TV Market Participants:

Koninklijke Philips NV: The company offers a range of smart TVs with different screen sizes, such as the 7000 series LED TV and 8600 series Ultra Slim Smart 4K Ultra HD LED TV.

LG Electronics Inc.: The company offers a range of smart TVs that comprises features such as LG AI ThinQ and Active HDR. Popular models include LG 43LK5760PTA and LG 43LJ554T.

Panasonic Corp.: The company offers a range of smart TVs which includes the GS595 series, GS500 series, and GS490 series.

Qingdao Haier Co. Ltd.: The company offers a range of smart TVs, such as LE40K6500AG smart LED TV, LE55B9700UG 4K UHD LED TV, and LE39B9600 LED TV.

Samsung Electronics Co. Ltd.: The company offers a range of smart TVs, such as the Samsung N4300 and Samsung N5470.

Smart TV Market 2020-2024: Segmentation

Smart tv market is segmented as below:

  • Distribution Channel
    • Offline
    • Online
  • Geographic Landscape
    • APAC
    • Europe
    • MEA
    • North America
    • South America

Get more insights about the global trends impacting the future of the smart tv market, Request Free Sample @  https://www.technavio.com/talk-to-us?report=IRTNTR41015

Related Reports on Communication Services Include:

Global HDMI Cable Market - Global HDMI cable market is segmented by type (high-speed, standard, and ultra-high-speed) and geography (APAC, North America, Europe, South America, and MEA). Request a Free Sample Report

Global Gaming Console Market - Global gaming console market is segmented by type (TV consoles and handheld consoles), type of gamer (casual gamers and hardcore gamers), and geography (APAC, North America, Europe, MEA, and South America). Request a Free Sample Report

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

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

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses 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.

ContactTechnavio Research Jesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@technavio.com Website: www.technavio.com/ Report: www.technavio.com/report/smart-tv-market-industry-analysis

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SOURCE Technavio