Global Digital TV SoC Market Overview
Digital TV SoC Market Size was estimated at 10.87 (USD Billion) in 2023. The Digital TV SoC Market industry is expected to grow from 12.34 (USD Billion) in 2024 to 28.8 (USD Billion) by 2032. The Digital TV SoC Market CAGR (growth rate) is expected to be around 13.40% during the forecast period (2024-2032).
Key Digital TV SoC Market Trends Highlighted
The Digital TV SoC Market is characterized by the growing adoption of smart TVs, the expansion of OTT content, the increasing demand for immersive viewing experiences, and the advancements in streaming technologies. Key market drivers include the growing popularity of streaming services and online content, the proliferation of connected devices, and the increasing adoption of advanced technologies such as AI and machine learning.
Opportunities to be explored include the development of innovative features such as personalized content recommendations, enhanced connectivity, and integrated gaming capabilities. The advent of cloud gaming and the integration of social media platforms into smart TVs present further growth opportunities.
Recent trends in the market include the rise of voice-activated content, the integration of augmented reality and virtual reality experiences, and the emergence of cloud-based gaming services. These trends are expected to continue shaping the market landscape in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Digital TV SoC Market Driver
Rising Demand for Immersive Entertainment Experiences
The growing popularity of streaming services, smart TVs, and home theater systems is driving the demand for digital TV SOCs. These devices offer consumers a more immersive and personalized entertainment experience, with access to a wide range of content on demand. The increasing adoption of 4K and 8K TVs is also fueling the demand for digital TV SOCs, as these devices require more powerful processing capabilities to handle the higher resolutions. Additionally, the growing popularity of virtual reality (VR) and augmented reality (AR) is expected to further boost the demand for digital TV SOCs, as these technologies require powerful processing capabilities to create realistic and immersive experiences.
Advancements in Artificial Intelligence (AI) and Machine Learning (ML)
The integration of AI and ML technologies into digital TV SOCs is enabling new and innovative features and applications. AI-powered features such as facial recognition, voice control, and personalized recommendations are enhancing the user experience and making TVs more interactive and user-friendly. ML algorithms are also being used to improve image and sound quality, as well as to optimize power consumption. The integration of AI and ML into digital TV SOCs is expected to continue to drive innovation and create new opportunities for growth in the Digital TV SoC Market.
Growing Adoption of Smart TVs and Connected Devices
The increasing adoption of smart TVs and connected devices is creating a growing need for digital TV SOCs. Smart TVs offer consumers a wide range of features and functionality, including access to streaming services, apps, and games. Connected devices, such as set-top boxes and streaming sticks, are also becoming increasingly popular, as they allow consumers to access content from a variety of sources. The growing adoption of smart TVs and connected devices is expected to continue to drive the demand for digital TV SOCs in the Digital TV SoC Market.
Digital TV SoC Market Segment Insights
Digital TV SoC Market Type Insights
The Digital TV SoC Market is segmented by Type into Set-top Boxes, Smart TVs, and Streaming Sticks Dongles. Set-top Boxes Set-top boxes are external devices that connect to a television and allow users to receive and decode digital television signals. They are typically used with older televisions that do not have built-in digital tuners. The global market for set-top boxes is expected to reach $15.3 billion by 2024, growing at a CAGR of 4.5%. The growth of the market is attributed to the increasing adoption of digital television and the growing demand for over-the-top (OTT) content. Smart TVs Smart TVs are televisions that have built-in internet connectivity and allow users to access streaming services, web browsing, and other online content. The global market for smart TVs is expected to reach $202.6 billion by 2024, growing at a CAGR of 10.5%. The growth of the market is attributed to the increasing popularity of streaming services and the growing demand for larger screen sizes. Streaming Sticks Dongles Streaming sticks and dongles are small devices that connect to a television's HDMI port and allow users to stream content from the internet. They are typically used with newer televisions that have built-in digital tuners. The global market for streaming sticks and dongles is expected to reach $12.5 billion by 2024, growing at a CAGR of 15.2%. The growth of the market is attributed to the increasing popularity of streaming services and the growing demand for portable devices. The Digital TV SoC Market is expected to reach $230.4 billion by 2024, growing at a CAGR of 8.5%. The growth of the market is attributed to the increasing adoption of digital television, the growing popularity of streaming services, and the growing demand for larger screen sizes.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Digital TV SoC Market Resolution Insights
The Resolution segment of the Digital TV SoC Market is anticipated to witness significant growth in the coming years. HD resolution currently dominates the market, accounting for a major share of the revenue. However, 4K resolution is rapidly gaining popularity, driven by the increasing availability of 4K content and the adoption of 4K TVs. The market for 8K resolution is still in its early stages, but it is expected to grow rapidly in the future as 8K TVs become more affordable and 8K content becomes more widely available.
Digital TV SoC Market Operating System Insights
The Operating System segment of the Digital TV SoC Market is expected to grow significantly in the coming years. The market is expected to be worth USD 10.23 billion in 2023 and is projected to reach USD 15.34 billion by 2027, exhibiting a CAGR of 8.2% during the forecast period. The growth of the segment can be attributed to the increasing adoption of smart TVs and the growing popularity of streaming services. Among the key players in the Operating System segment are Android TV, Roku OS, Amazon Fire TV OS, LG WebOS, and Samsung Tizen. Android TV is the most popular operating system for smart TVs, with a market share of over 50%.Roku OS is another popular operating system, with a market share of around 20%. Amazon Fire TV OS and LG WebOS are also popular operating systems, with market shares of around 10% and 5%, respectively. Samsung Tizen is a newer operating system, but it has quickly gained market share and is now the fifth most popular operating system for smart TVs. The growth of the Operating System segment is being driven by the increasing adoption of smart TVs. Smart TVs are becoming increasingly popular as they offer a number of advantages over traditional TVs, such as the ability to access streaming services, play games, and browse the internet.The growing popularity of streaming services is also contributing to the growth of the segment, as streaming services require a smart TV or a streaming device in order to be accessed.
Digital TV SoC Market Application Support Insights
The Application Support segment plays a crucial role in the Digital TV SoC Market, encompassing various sub-segments that contribute to the overall market growth. Key sub-segments within Application Support include Streaming Services (Netflix, Amazon Prime Video, Disney+), Social Media Apps (Facebook, Twitter), and Games (Apple Arcade, Google Stadia). In 2023, the Application Support segment held a significant market share and is projected to maintain its dominance throughout the forecast period. The increasing popularity of streaming services, Social media platforms, and gaming applications is driving the growth of this segment.Market data indicates that the revenue generated from Streaming Services is expected to reach $250 billion by 2024, while Social Media Apps and Games are estimated to contribute $120 billion and $100 billion, respectively, to the Digital TV SoC Market revenue by the end of the forecast period. These sub-segments are expected to continue witnessing substantial growth in the coming years, driven by factors such as rising internet penetration, increasing adoption of smart devices, and advancements in technology.
Digital TV SoC Market Connectivity Insights
The Connectivity segment of the Digital TV SoC Market is dominated by Wi-Fi, Ethernet, and Bluetooth technologies. Wi-Fi held the largest market share in 2023, accounting for over 55% of the global revenue. The market for Ethernet is expected to grow at a significant CAGR during the forecast period, driven by the increasing adoption of high-speed internet connectivity. Bluetooth technology is also expected to witness steady growth, owing to its wide range of applications in wireless connectivity. By 2024, the Digital TV SoC Market for Connectivity is estimated to reach a value of USD 189.2 billion, expanding at a CAGR of 4.9% from 2023 to 2032.
Digital TV SoC Market Regional Insights
The Digital TV SoC Market is segmented into North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023, and is expected to maintain its dominance throughout the forecast period. The growth of the Digital TV SoC Market in this region can be attributed to the strong presence of major players such as Roku, Amazon, and Google. Europe is the second-largest market for Digital TV SoC, and is expected to grow at a steady pace in the coming years. The growth of the market in this region can be attributed to the increasing adoption of streaming services such as Netflix and Amazon Prime Video.The APAC region is expected to witness the highest growth rate in the Digital TV SoC Market during the forecast period. The growth of the market in this region can be attributed to the increasing disposable income and the growing popularity of online entertainment. South America and MEA are expected to grow at a moderate pace in the coming years. The growth of the market in these regions can be attributed to the increasing penetration of smartphones and the growing popularity of online entertainment.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Digital TV SoC Market Key Players And Competitive Insights:
Major players in Digital TV SoC Market are focusing on developing new products and technologies to meet the growing demand for digital TV services. Leading Digital TV SoC Market players are also investing heavily in marketing and advertising campaigns to promote their products and services. The Digital TV SoC Market is expected to witness significant growth in the coming years, driven by the increasing popularity of streaming media services and the growing adoption of smart TVs.One of the leading players in the Digital TV SoC Market is Roku. Roku is a streaming media player that allows users to access a wide variety of streaming content from a variety of providers, including Netflix, Hulu, Amazon Prime Video, and Disney+. Roku has a strong market share in the United States and is also gaining popularity in other regions.Another major player in the Digital TV SoC Market is Amazon. Amazon offers a variety of streaming media devices, including the Fire TV Stick and the Fire TV Cube. Amazon also offers a wide variety of streaming content through its Prime Video service. Amazon has a strong market share in both the United States and Europe.
Key Companies in the Digital TV SoC Market Include:
- Changhong Group
- TCL Technology
- Konka
- Haier Group
- Westinghouse Digital
- LG Electronics
- Seiki Digital
- Hisense Group
- Panasonic Corporation
- Sharp Corporation
- Sony Corporation
- Toshiba Corporation
- Vizio
- Skyworth Group
- Samsung Electronics
Digital TV SoC Industry Developments
The Digital TV SoC Market is projected to reach USD 273.4 billion by 2032, exhibiting a CAGR of 4.88% during the forecast period. Increasing demand for advanced and immersive viewing experiences, coupled with the growing popularity of streaming services, is driving market growth.Recent news developments include the launch of new products and services by key players. For instance, in 2023, Samsung introduced its latest range of Neo QLED TVs featuring improved picture quality and AI-powered sound. Additionally, the adoption of advanced technologies such as 8K resolution and High Dynamic Range (HDR) is creating new growth opportunities.Government initiatives to promote digital infrastructure and the expansion of broadband connectivity in emerging markets are further contributing to market expansion. The increasing penetration of smart TVs and the growing adoption of over-the-top (OTT) platforms are also key growth drivers.
Digital TV SoC Market Segmentation Insights
Digital TV SoC Market Type Outlook
- Set-top Boxes
- Smart TVs
- Streaming Sticks Dongles
Digital TV SoC Market Resolution Outlook
Digital TV SoC Market Operating System Outlook
- Android TV
- Roku OS
- Amazon Fire TV OS
- LG WebOS
- Samsung Tizen
Digital TV SoC Market Application Support Outlook
- Streaming Services (Netflix, Amazon Prime Video, Disney+)
- Social Media Apps (Facebook, Twitter)
- Games (Apple Arcade, Google Stadia)
Digital TV SoC Market Connectivity Outlook
Digital TV SoC Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2023 |
10.87 (USD Billion) |
| Market Size 2024 |
12.34 (USD Billion) |
| Market Size 2032 |
28.8 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
13.40% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Changhong Group, TCL Technology, Konka, Haier Group, Westinghouse Digital, LG Electronics, Seiki Digital, Hisense Group, Panasonic Corporation, Sharp Corporation, Sony Corporation, Toshiba Corporation, Vizio, Skyworth Group, Samsung Electronics |
| Segments Covered |
Type, Resolution, Operating System, Application Support, Connectivity, Regional |
| Key Market Opportunities |
Rising demand for streaming services growing adoption of 4K and 8K TVs increasing popularity of OTT platforms expanding penetration of smart homes and government initiatives to promote digital TV adoption |
| Key Market Dynamics |
Rising demand for immersive entertainment Technological advancements in display technologies Expansion of streaming services Growing adoption of connected devices Integration with smart home ecosystems |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Digital TV SoC Market is estimated to be worth 10.87 Billion USD in 2023.
The Digital TV SoC Market is projected to reach 28.8 Billion USD by 2032, exhibiting a CAGR of 13.40% from 2023 to 2032.
The Asia Pacific region is anticipated to hold the largest market share throughout the forecast period due to the increasing adoption of digital TV services and the growing disposable income of consumers.
Digital TV SoC finds applications in various sectors, including entertainment, education, healthcare, and advertising.
Some of the prominent players in the Digital TV SoC Market include Samsung, LG, Sony, Panasonic, and Philips.
The growth of the Digital TV SoC Market is primarily attributed to the increasing demand for high-quality video content, the rising popularity of streaming services, and the advancements in display technologies.
The Digital TV SoC Market faces challenges such as content piracy, regulatory issues, and competition from traditional TV broadcasting.
Key trends shaping the Digital TV SoC Market include the integration of artificial intelligence, the rise of personalized content, and the adoption of cloud-based services.
5G technology is expected to revolutionize the Digital TV SoC Market by enabling faster streaming speeds, higher video quality, and immersive viewing experiences.
Emerging opportunities in the Digital TV SoC Market include the development of interactive TV platforms, the proliferation of smart TVs, and the rise of virtual reality and augmented reality applications.
