Global Smart TV Market Size Analysis, 2018-2028

REPORT ID: BKR751 Domain: ICT Published Date: June 2018



Smart TV Market Size is estimated to be valued at USD 198 billion in 2018 and will create high incremental opportunity for industry players. Total unit shipment will reach 291 million units by 2025, registering 4.9%. Smart TV market share accounted for 77% of total TV shipment in 2017. As such, major companies are focusing on enhancing their production facilities to meet the global demand.

Increasing demand of internet connected devices featuring online streaming along with declining product prices is expected to boost overall sales during the forecast period. Cost reduction will continue to drive the sector with Asia Pacific benefitting the most. Technological advancement in flexible display devices market will further add to smart TV market growth. Growing popularity of smart homes is another key factor driving the sales.

The industry is getting hypercompetitive with wide increasing popularity of smart homes market. Not only the traditional players but also other vendors are flocking in the market to capitalize the industry.

Global Smart TV Market Share Analysis, By Resolution:

In 2017, full HD smart TV accounted for 36% of total shipments. However, the segment I expected to lose considerable share to 4K UHD TV owing to large scale demand from consumers. China accounted for highest sales of 4K TV in 2017, accounting for over 30 million unit sales. Most of the Chinese manufacturers are focusing on 4K TV sets. As such, competition has heightened in the segment. Japan based players are actively prioritizing their strategies towards 4K TV sets.

Europe is another major region for industry players. The region accounted for 16.1 million 4K unit sales in 2017 and is expected to further increase to 19.8 million units by end of 2018. Europe is dominated by UK (27%), France (23%), Italy, Germany, and Russia.

Higher TV replacement rate is creating favorable environment for 4K TV sets to flourish. 8K TV sets are largely seen as future platform and will gain double digit growth post 2020. Nearly 25 million 8K units will be shipped in 2026.

Global Smart TV Market Analysis, By Screen Size

Globally, Smart TV with 46-60 inch are highly popular. Popularity of these TV can be gauged from the fact that over 59% of global 4K TV is shipped with 45+ inch screen.

Global Smart TV Market Share and Forecast, Regional Analysis:

Asia Pacific accounted for 49% of global share with shipment unit surpassing 111 million units in 2017. The region crossed North America sales 2016 owing to high end sales of these TV in China.

In North America, smart TV is gaining high popularity owing to rise in trend for streaming media content including Amazon Prime, Neflix and Hulu. Samsung, LG and Vizio accounted for majority of the regional share in 2017.

Global Smart TV Market Size and Forecast: Competition Landscape

Some key Smart TV market players are Samsung, LG Electronics, Panasonic Corporation, Vizio, Hisense and TCL. According to estimates, Samsung is the global leader with 33.9% market share in 2017, followed by LG, Sony (9.3%) and Vizio.




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