Global smart TV market to hit sales of 223 million units by 2018
The global market for Smart TVs is projected to reach 223 million units by 2018, driven by increasing penetration of broadband services across the world. The days of referring to television as an 'idiot box' are passé. TV has always been a one way entertainment medium. However, TVs are evolving into incredibly smart and interactive devices, capable of serving more than one purpose to the viewer. Innovations such as LCDs, LEDs, HD, and 3D have triggered a new wave of digital television over the last decade. With the new era of convergence setting in wherein broadband and broadcasting services are merged, traditional TVs are undergoing yet another round of makeover, this time churning out what can be referred to as a new range of Internet capable 'Smart TV' sets.
Growing broadband penetration and subsequent rise in Internet subscriptions world over have and will continue to drive market prospects for smart TV market, as net savvy consumers are most likely to prefer accessing television media and Internet from a single platform rather than using multiple devices. Households with broadband connectivity therefore are most prospective consumer cluster for Smart TVs. In the US, the percentage of broadband households with an inclination towards smart TV adoption increased by about 4 percentage points between 2010 and 2011. Thus, efforts are being put to connect all the devices and create connected TV ecosystem where web content can be synchronized from laptops, smartphones and tablets and be accessed simultaneously over TVs.
Developed markets such as Western Europe and the US have been the traditional revenue contributors to the Smart TV market, given the strong broadband penetration in these regions. However, growth in the market over the next few years will be primarily driven by developing markets, given the fast improving broadband connectivity, growing consumer affluence especially in emerging markets such as India and China, and subsequent rise in demand for quality content over best TV sets available in the market.
North America, Japan, and Europe account for a lion's share of the global market for Smart TVs. However, with these markets nearing saturation, emerging markets such as China, India, Russia, and Brazil are expected to drive the market for Smart TVs in future.
This report analyzes the worldwide markets for Smart TVs in US$ Million. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, and Rest of the World. Annual estimates and forecasts are provided for the period 2011 through 2018.
The report profiles 24 companies including many key and niche players such as Haier Group, Hisense Group, Hitachi, Ltd., Lenovo Group Limited, LG Electronics, Mitsubishi Electric Corp., Panasonic Corporation, Royal Philips Electronics N.V., Samsung Electronics Co. Ltd., Sharp Corporation, Sony Corporation, TCL Corporation, Toshiba Corporation, and VIZIO, Inc. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based upon search engine sources in the public domain. Global Industry Analysts ©