Smart TV also known as connected TV, provides interactive features similar to those involved in web services and internet. Smart TV can be connected to many potential input devices which augment the usability and control. Cell phones, tablets, keyboards, and PCs are connected to Smart TV to facilitate navigation, text entry and web browsing from the couch. A smart TV supports Wi-Fi, Ethernet, Bluetooth, USB & flash memory cards, HDMI, and other audio-video connections. Besides Operating system and apps, the connectors enable on demand video service and access to music, pictures, and videos. Smart TV allows to access, manage, and view websites like youtube, Netflix, Hulu, Vimeo and social media such as facebook, twitter without connecting additional box such as setup box and roku or fire stick. Smart TV comes in different screen size, picture quality, connectivity and sound quality. The emergence of Smart TV has brought another dimension of potentiality to the video experience.

Market scope and structure analysis:

COVID-19 Scenario Analysis: 

The world wide pandemic occurrence has significantly reduced the frequency of purchase of electrical and electronics products and the lead time delivery of goods. COVID-19 outbreak has created scarcity of labor supply, raw materials, and availability of other components due to which production of smart TV has been hampered. The impaired supply chain and distribution network are some of the challenges that the industry is focusing on. The end of the lockdown in the countries bring smart TV market substantial higher consumer traffic. In post COVID-19 scenarios the sale of smart TV may be increased from e-commerce platform. The companies get to develop such strategies to change the design of their supply chain and production policies or plans in tandem with the changing business environment.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers And Impact Analysis

The rapid urbanization and easy availability of high speed internet raised number of consumers using online video streaming channels such as Netflix, YouTube premium, Amazon Prime Video, and Hulu, which results in increase in the demand for Smart TV products.

The rise in disposable income in the developing economies is one of the major growth drivers of the smart TV market. The changing life style and increasing standard of living also influence people to opt for better and enhanced technology products. Therefore, it also supports the growth of this market. The usage of smart TV in hospitality industry, offices, and malls increases the demand for the product.

The global smart TV market trends are as follows:

New entrance of market players in the industry

As the demand for smart TV is increasing due to various growth factors some leading companies are entering into the market. This market was dominated by electronics giants like Sony and Samsung for several years but now new players such as Xioami, Micromax and Oneplus have entered into this industry recently to penetrate their brand of smart TV in the market. In addition, the small players are coming up with more affordable and value for money smart TVs. The market players are also creating relationships with online sales channels and platforms such as Flipkart, Amazon, and Snapdeal to increase the distribution of their brands which is also enhancing TVs affordability with “direct–to-consumer model” supply chain.

Privacy issues associated with Smart TVs- a potential challenge for this industry

There is certain privacy issue associated with smart TV, which may create challenges/problems for the market. Smart TV and the content app providers commonly track the viewing habits of users for providing viewing suggestions. For instance, every time a user log into any online channel like Netflix, the menu shows the history of whatever the user have watched recently and update the suggestions for related programs and videos on the basis of “watched recently” list. This feature is quite good from entertainment point of view as it reduce the search time of the user for programs and videos. However, smart TV does something more than just tracking viewing habits. Hacking is the major threat that a consumer can face while using smart TVs. Smart TV with webcam and voice control have higher possibility of hacking that someone can watch and hear the user. Moreover, any credit or debit card purchases made using the smart TV for shopping or fee payment purposes can be tracked by any third parties. However, little cautious with the usage of webcam, voice control and web browsing may prevent the users from frauds and hacking.

Key Segments Covered:

Key Benefits of the Report:

• This study presents the analytical depiction of the global smart TV industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global smart TV market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global smart TV market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global smart TV market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions Answered in the Smart TV Market Research Report:

• What are the leading market players active in the smart TV market?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?