The Smart TV Market is being driven by Technological advancements in TV resolution
The Smart TV Market is expected to grow at a CAGR of 16.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 149.5 billion. In the dynamic smart TV market, digital media has emerged as a pivotal communication and marketing platform for businesses. Notably, leading smart TV manufacturers are intensifying their investment in social media campaigns in developed markets, including the US and the UK, to boost product promotion and expand marketing reach. Digital media channels offer valuable data insights and precise attribution to a broader customer base, enabling companies to optimize their marketing strategies. For instance, LG Smart TV Advertising, a unique service confined to the MENA region, leverages device-level data and consent-based user information to enhance the overall consumer viewing experience.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
246 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 16.8% |
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Market growth 2025-2029 |
USD 149.5 billion |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
12.7 |
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Key countries |
US, China, Japan, UK, Canada, India, Germany, South Korea, France, and Australia |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Smart TVs offer consumers a theater-like experience with high-definition picture quality and Dolby Atmos sound. Movie producers and TV content creators now partner with OTT platforms and streaming services to deliver content directly to viewers. Features like voice command, screen mirroring/sharing, and video calling enhance the user experience. HDR technology and large-screen sizes provide value for the price, while high-dynamic range and full HD offer improved content dynamics. Home theaters and movie theaters converge with the price difference and discount offers making large-screen television sets an affordable luxury for buyers with varying spending capacities.
The Smart TV market is a significant segment of the global household durables market, encompassing OTT services, TV content creators, OTT platforms, and streaming services. Key players in this sector are continually launching innovative products, integrating voice command technology, and expanding their content offerings to capture a larger market share. These strategic initiatives are expected to fuel growth in the Smart TV market, contributing to the expansion of the broader consumer electronics industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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