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Smart TV Market Share

ID: MRFR//6916-HCR | 100 Pages | Author: Aarti Dhapte| November 2024

Market share positioning strategies are very important in the very competitive Smart TV market, where companies use a wide range of strategies to get a strong grip and stand out. One common strategy is to focus on new ideas and technologies that are different from others. Big companies try to show off the newest and best features, like better visual quality, more advanced computing power, and new intelligence functions. The companies that make Smart TVs want to attract tech-savvy customers and become known as leaders in new technology by constantly expanding what devices can do.
A smart TV company's price strategy is very important for figuring out its market share. Some makers set their prices competitively to reach a wider range of customers and sell their goods to more people. With better features, style, and quality that come at a higher price, some brands try to look like they are premium. Companies carefully match their pricing plans with the people they want to buy from so they can get the biggest share of the market and meet the needs of all kinds of customers, from those on a tight budget to those looking for high-end, feature-packed choices.
Brand recognition and reputation are important factors that affect market share. Well-known names get a big share of the market thanks to their track record, strong image, and trustworthiness.
Smart TV makers also try to get a bigger part of the market by expanding into new areas. Because customer tastes and the economy are different in different areas, companies may change their goods to meet the specific needs of local markets. To successfully enter and grow market share in a number of different regions, this strategy requires knowing about local trends, rules and regulations, and cultural differences.
Market share standing is affected by tactics that focus on the customer, like providing excellent customer service, guarantee programs, and help after the sale. Smart TV makers know how important it is to keep users for a long time. When there is a lot of competition, businesses can change the minds of potential buyers by making their image better. They can also keep current customers by quickly fixing problems and making sure they are happy.
Smart TV manufacturers can achieve a better market position in the long run only if they focus on rapidly adopting new technologies and keep up with the latest trends. Businesses are now using novel technologies including voice recognition, the Internet of Things (IoT) and AI. In a market that is always changing, these tools show that companies are determined to stay current. Because makers are so flexible, they are at the top of their field, driving progress and drawing tech-savvy customers.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation 2021
Historical Data 2018 & 2020
Forecast Period 2022-2030
Growth Rate 16.30% (2022-2030)

Smart TV Market Highlights:

Smart TV Market Trends
Smart TV Market Analysis
Smart TV Market Share
Smart TV Companies

Global Smart TV Market Overview:


Smart TV Market Size was valued at USD 208813.4 Million in 2023. The Smart TV industry is projected to grow from USD 245210.2 Million in 2024 to USD 710811.3 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 14.3% during the forecast period (2024 - 2032). Smart TVs gained traction with the growing trend of content available on over-the-top platform are the key market drivers enhancing the market growth.


Global Smart TV Market Overview


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Smart TV Market Trends




  • Growing content creators to boost the market growth




The convenience of watching content anytime and anywhere brings more subscribers to OTT platforms. Several TV content creators are introducing new content with varied genres to cater to every type of viewer’s demands. This factor is anticipated to contribute to the growth of the industry. The content creators are partnering with different OTT platforms to form an exclusive partnership. Following this trend, leading streaming platforms such as Amazon Prime, Netflix, Disney Hotstar, and others have developed custom applications for smart TVs to offer their streaming services. The demand for smart TVs can be attributed to the advanced features it offers such as voice command, screen mirroring/sharing, and video calling among others which create a more enticing environment for the users. Smart TVs feature operating systems, is software that enables viewers to interact with features such as downloading applications, streaming video, and purchasing content among others on the TV. Manufacturers are introducing their own operating systems for the smart TVs they produce to counter the popular operating systems. For instance, the Tizen operating system is developed by Samsung Electronics Co. Ltd for their smart TV range, helping viewers access streaming applications to enjoy TV content. Additionally, LG offers its own operating systems which support exclusive features such as magic remote, voice command, and more.


The number of smart TV users is likely to increase as smart TVs offer ease of enjoying movies and shows on demand. Users can rent, stream, or buy content with the high-resolution quality offered by any OTT platform, directly from their smart TV. Moreover, customers can browse the internet and run supported applications including educational apps for children on smart TVs. The smart TV also supports music streaming via popular applications such as Spotify and Apple Music. Therefore, such condition has enhanced the Smart TV market CAGR across the globe in the recent years.


However, manufacturers attract customers by creating affordable products and pricing them competitively is another factor driving the growth of the Smart TV market revenue.


Smart TV Market Segment Insights:


Smart TV Resolution Insights


The Smart TV Market segmentation, based on Resolution, includes 4K UHD TV, HDTV, Full HD TV, and 8K TV. The Full HD TV segment held the majority share in 2021 contribution to around ~45% in respect to the Smart TV Market revenue. Full HD TV resolution provides a resolution of 1920 x 1080 pixels which has been the industry baseline for many years. This resolution is prevalent as large amounts of content support the resolution. Streaming of content and live sports on this resolution does not consume high internet bandwidth while still offering an immersive and good-quality viewing experience.


Smart TV Operating System Insights


The Smart TV Market segmentation, based on operating system, includes Android TV, Tizen, WebOS, Roku, and other. The android TV segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2024-2032. The segment’s stronghold is attributed to the Play Store access for application downloads. It also adds voice search and content aggregation from multiple media apps and services. The Android TV operating system also facilitates integration with recent Google technologies like Knowledge Graph, Cast, and Assistant. Hence, rising applications for Smart TV positively impact the market growth.


Smart TV Screen Size Insights


The Smart TV Market data has been bifurcated by screen size into light, below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, Above 65 inches. The 46 to 55 inches segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. owing to the rising trend of purchasing bigger TVs for a theater-like viewing experience. The segment demand is attributed to the screen size to price value for consumers.


Figure 2: Smart TV Market, by Screen Size, 2021 & 2030 (USD Million) 

Smart TV Market, by Screen Size, 2021 & 2030

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Smart TV Screen Shape Insights


Based on Screen Type, the global Smart TV industry has been segmented into flat and curved. Flat smart TVs held the largest segment share in 2021owing to it being the industry standard and easier to manufacture. Consumers prefer flat-screen smart TVs are easier to fix and mount on walls.


The fastest growing segment in the Smart TV industry is Curved Smart. Curved smart TVs are seen in the top-end range with big screen sizes to offer an added depth experience to the viewer. Curved screens also help remove picture deprivation that occurs when watching from the off-center axis.


Smart TV Regional Insights


By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific Smart TV market accounted for USD 67.21 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. The growing popularity of smart TV in rapidly developing countries like India is significantly driving regional market expansion. China holds a significant share in the Asia Pacific Smart TV market, aided by the emergence of new players, such as Hisense Co., Ltd., and TCL Corporation, expanding their footprint and increasing rivalry among major players. Moreover, China Smart TV market held the largest market share, and the India Smart TV market was the fastest growing market in the Asia-Pacific region


Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 3: Smart TV Market SHARE BY REGION 2021 (%)


Smart TV Market SHARE BY REGION 2021


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe Smart TV market accounts for the second-largest market share. Increasing internet penetration and the presence of low-cost manufacturers are expected to innovate smart TVs based on the latest features at competitive price offerings to meet the diverse needs of customers. Further, the Germany Smart TV market held the largest market share, and the UK Smart TV market was the fastest growing market in the European region


The North America, Smart TV Market is expected to grow at the fastest CAGR from 2024 to 2032. Developments across the OTT segment in the development of engaging content are leading to a rapid rise in the adoption of smart TVs in the region. Ever-changing consumer focus toward streaming online content, owing to the increasing availability of high-speed internet broadband connections, is further favoring product demand. Moreover, US Smart TV market held the largest market share, and the Canada Smart TV market was the fastest growing market in the Asia-Pacific region


Smart TV Key Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help the Smart TV market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Smart TV industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.


One of the primary business strategies adopted by manufacturers in the global Smart TV industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Smart TV industry has provided with some of the most significant benefits. The Smart TV market major player such as Samsung Electronics Co, and others are working to expand the market demand by investing in research and development activities.


Samsung Electronics Co., Ltd (Samsung Electronics) is one of the leading companies engaged in manufacturing and designing various products such as digital TVs, monitors, printers, smartphones, tablets, and other wearables globally. The company operates through three segments: IT & mobile communications, consumer electronics, and device solutions. It provides heating and cooling products, connected car systems, medical equipment, general logistics agency, financing, AI technology research, marketing, consulting, cloud services, enterprise automation solutions and connected services, and digital advertising platforms. In December 2021, Samsung Electronics Co. Ltd announced that select 2022 4K and 8K TVs and gaming monitors would support the new HDR10+ GAMING standard, delivering an immersive, ultra-responsive HDR gaming experience to gamers.


OnePlus Technology Co., Ltd., doing business as OnePlus, is a Chinese consumer electronics manufacturer headquartered in Shenzhen, Guangdong. It is a subsidiary of Oppo. May 2021,OnePlus launched a 40-inch (100 cm) smart television under its Y-series on Flipkart. The new OnePlus Y Series 100 cm (40 inches) Full HD LED Smart Android TV (40FA1A00) has similar specifications as the 43-inch variant. The OnePlus TV 40Y1 will be equipped with 20 W stereo speakers with Dolby Audio, a 64-bit processor paired with 1GB RAM, and 8 GB internal storage. The device runs Android TV 9.0 with Oxygen Play support and features Gamma Engine, which adds dynamic contrast and improves picture quality


Key Companies in the Smart TV market includes




  • LG Electronics Inc.




  • Samsung Electronics Co. Ltd.




  • Sony Corporation




  • VIZIO Inc.




  • Videocon Industries Ltd.




  • Sansui Electric Co. Ltd.




  • Toshiba Corporation




  • Haier Electronics Group Co., Ltd., among others




Smart TV Industry Developments


The world's top TV manufacturer, Samsung Electronics, kicked off its annual Tech Seminar series in Frankfurt, Germany, in 2024. Samsung has been ruling the TV industry for 18 years running. Professionals in Europe will get the opportunity to see Samsung's newest display lineup for 2024, which includes cutting-edge AI technology and smart features on the Neo QLED, OLED, and Lifestyle devices, from February 20 to 22. For the past 13 years, Tech Seminar sessions have been a well-established program that offers comprehensive knowledge and special hands-on encounters with new products.


The 43-inch QLED and 55-inch 4K Google TV is Blaupunkt's newest offering in the television industry, which it unveiled in 2023 in collaboration with online retailer Flipkart. The sale of Blaupunkt's 55 and 65-inch TVs has seen an astounding 300% jump in sales over the last year.


Smart TV Market Segmentation:


Smart TV Operating System Outlook




  • Android TV




  • Tizen




  • WebOS




  • Roku




  • Other




Smart TV Resolution Outlook




  • 4K UHD TV




  • HDTV




  • Full HD TV




  • 8K TV




Smart TV Screen Size Outlook




  • Light




  • Below 32 inches




  • 32 to 45 inches




  • 46 to 55 inches




  • 56 to 65 inches




  • Above 65 inches




Smart TV Screen Shape Outlook




  • Flat




  • Curved




Smart TV Regional Outlook




  • North America



    • US

    • Canada






  • Europe



    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America





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