Smart TV market share forecast to witness considerable growth from 2019-2025

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Smart TV market share research by applications
and regions for 2019-2025 Global Market
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Fuel Cell Market size worth 25.5bn by 2024
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Overview of smart TV market

• The North America smart TV market is expected to
  grow rapidly owing to the high adoption of
  technically advanced solutions and high spending
  capacity of consumers. The federal government is
  making investments in the development of IoT
  technology for the implementation of smart homes
  and cities. Countries in Asia Pacific including
  China, South Korea, and Japan are witnessing
  growth in television manufacturing activities due
  to the presence of several key players in this
  region. The increasing disposable income in this
  region is leading to the adoption of these
  devices. Moreover, the rise in the number of
  hotels and shopping malls in emerging Asian
  economies due to the developing retail sector is
  driving the market expansion.
• Smart TV Market size is predicted to rise at a
  lucrative CAGR to 2025 driven by increasing
  internet penetration and digitalization, which
  support various features such as video streaming,
  music streaming, universal search, games, etc.
  Smart TVs provide benefits such as high contrast,
  brightness, suitable screen sizes, simple setup,
  and availability in several sizes ranging from 32
  to 108 inches. High demand for these devices is
  attributed to the increased availability of
  several video streaming platforms such as
  Netflix, Amazon Prime, Hotstar, etc. Rapid
  development in the television sector and the
  increasing high-quality content are fueling smart
  TV market growth. These devices are capable of
  displaying HD content, increasing the usability
  in various application industries including the
  commercial hospitality sectors.

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• High costs and fragility factors associated with
  televisions are hindering the smart TV market
  growth. These devices include display panels,
  which are complex to manufacture and are fragile
  in nature. The display panel fabrication
  bonding process requires technically advanced
  machinery, which can be operated by skilled labor
  and consumes high power, further increasing the
  operational costs. The cost of servicing or
  maintenance is very high due to the utilization
  of complex technology. Another factor affecting
  the smart TV market is the requirement of
  high-speed internet connectivity. The remote
  areas in developing countries have a fluctuating
  internet connection, which is a hindrance to the
  proper functioning of such devices. Increasing
  technological developments, such as LED panels,
  quantum dot technology, and enhanced broadband
  internet infrastructure, will support in
  overcoming these challenges in the market.
• A prominent feature in smart TVs, which is
  creating a high demand is the ability to connect
  with other devices such as smartphones, tablets,
  etc. The connectivity with smart devices provides
  ease of content sharing across different
  platforms. An upcoming trend in the smart TV
  market is OLED and 4K technology, which is
  designed to deliver high-quality visual content.
  OLED panels have low power consumption and better
  durability as compared to LCD panels. OLED
  displays are energy efficient and provide a high
  quality of visual experience. The
  energy-efficiency feature promotes its demand in
  the commercial sector. The increasing norms
  regulations regarding energy consumption by
  several governments have led to the higher
  adoption of these devices by the commercial sector

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• In the smart TV market, residential application
  is creating a high demand due to the availability
  of high-speed internet and smart home
  developments across the globe. These devices
  offer a variety of features such as gaming,
  smartphone connectivity, voice command support,
  etc., further creating consumer interest. The
  increasing number of smart homes across the globe
  followed by the rising demand for smart devices
  is promoting smart TV market growth. The
  connected devices are gaining high popularity
  owing to easy accessibility and hassle-free
  sharing of content between devices. The
  availability of IoT technology and connected
  devices provide interoperability of devices,
  fueling the market growth.
• Prominent players operating in the smart TV
  market include LG Electronics Inc., Sony
  Corporation, Koninklijke Philips N.V., Samsung
  Electronics Co., Ltd., Apple Inc., Panasonic
  Corporation, Vizio Inc., Insignia Systems Inc.,
  Haier Group Corporation, Westinghouse Electric
  Corporation, Hitachi Ltd., and TCL Corporation.
  These players are implementing strategies such as
  merger acquisition activities, collaborations
  partnerships, and high investments in RD to
  develop innovative products and broaden the
  product portfolio to gain a competitive edge. For
  instance, in April 2019, Samsung Electronics Co.
  Ltd., announced a new range of smart TVs in India
  at affordable prices and advanced technology.
  Such innovations and advancements at affordable
  prices by key players are supporting them to
  enter untapped regions in the market.

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Methodology

• Market
  research reports Key analytical components

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