Smart TV Market Size Worth $ 495.06 Billion By 2032 | CAGR: 10.2%

The global smart TV market size is expected to reach USD 495.06 billion by 2032, according to a new study by Polaris Market Research. The report “Global Smart TV Market Size, Share, Trends, Industry Analysis Report: By Operating System, By Technology, By Resolution, By Screen Shape, By Screen Size, By Distribution Channel, and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) – Market Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The smart TV market is witnessing rapid growth owing to the rising demand from consumers as they are increasingly seeking more integrated entertainment experiences, including access to streaming services and internet browsing directly from the smart TVs. Additionally, the growing availability of high-speed internet and cost-efficient smart TVs are making smart TVs more accessible to a broader consumer worldwide.

Collaborations also facilitate the development of exclusive content and features tailored for smart TV platforms, attracting more consumers seeking unique entertainment options. The collaborations expand technological functionalities and also strengthen brand positioning and competitive advantage in the smart TV market.

For instance, in October 2022, Samsung Electronics collaborated with international Original Development Manufacturing (ODM) companies such as HKC, Atmaca, and Tempo. This collaboration aims to integrate Tizen OS into smart TV models, offering consumers a premium smart TV experience supported by Tizen, an open-source OS designed for Samsung smart TVs.

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In recent years, the Multi-Sensory Communication Platform (MCP) has significantly enhanced the smart TV market by transforming user engagement and interaction. By integrating advanced technologies such as voice recognition, gesture control, and augmented reality (AR), MCP enables a seamless and intuitive user experience.

MCP fosters interconnectivity with other smart devices within the smart home environment. This enhanced functionality and connectivity are driving consumer demand for smart TVs, thus propelling the market expansion. For instance, in October 2023, Emerge established a partnership with Sony Electronics Inc. to incorporate emotional connectivity through VR and AR into Sony’s smart TV product ranges.

Smart TV Market Report Highlights

• The roku segment is expected to grow with the highest CAGR in the market owing to its compatibility with Apple AirPlay allowing users to easily stream movies and other content.
• The QLED category dominated the market due to the quantum dots technology, which is characterized by its durability, stability, and ability to enhance color and brightness.
• Europe’s smart TV market is expected to register a lucrative CAGR, mainly attributed to the infrastructure developments in broadband internet and telecommunications.
• The Asia Pacific smart TV market dominated the market due to a significant portion of the global population, providing a large consumer base.
• The global key market players include Haier Inc., Hisense International, Intex Technologies, Koninklijke Philips N.V., LG Electronics Inc., Panasonic Corporation, Samsung Electronics Co. Ltd, Sansui Electric Co. Ltd, Sony Corporation, and TCL Electronics Holdings Limited.

Polaris Market Research has segmented the smart TV market report based on the operating system, technology, resolution, screen shape, screen size, distribution channel, and region:

Smart TV, Operating System Outlook (Revenue - USD billion, 2019 - 2032)

• Android TV
• WebOS
• Roku
• Tizen
• Others

Smart TV, Technology Outlook (Revenue - USD billion, 2019 - 2032)

• QLED
• LED
• OLED
• Others

Smart TV, Resolution Outlook (Revenue - USD billion, 2019 - 2032)

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

Smart TV, Screen Shape Outlook (Revenue - USD billion, 2019 - 2032)

• Curved
• Flat

Smart TV, Screen Size Outlook (Revenue - USD billion, 2019 - 2032)

• Above 65 inches
• 56 to 65 inches
• 46 to 55 inches
• 32 to 45 inches
• Below 32 inches

Smart TV, Distribution Channel Outlook (Revenue - USD billion, 2019 - 2032)

• Online
• Offline

Smart TV, Regional Outlook (Revenue - USD billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Australia
• Vietnam
• Malaysia
• Rest of Asia Pacific

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of Middle East & Africa

Smart TV Report Scope: