Smart TV Market Size, Share & Trends Report

Smart TV Market Size, Share & Trends Analysis Report By Resolution, By Screen Size, By Screen Shape, By Operating System, By Distribution Channel, By Technology, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-2-68038-209-9
  • Number of Report Pages: 163
  • Format: PDF, Horizon Databook

Research Methodology

A three-pronged approach was followed for deducing the smart tv market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for smart tv market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of smart tv market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Smart TV Market Categorization:

The smart tv market was categorized into seven segments, namely resolution (4K UHD TV, HDTV, Full HD TV, 8K TV), screen size (Below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, Above 65 inches), screen shape (Flat, Curved), operating system (Android TV, Tizen, WebOS, Roku), distribution channel (Online, Offline), technology (OLED, QLED, LED), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The smart tv market was segmented into resolution, screen size, screen shape, operating system, distribution channel, technology, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The smart tv market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-five countries, namely, the U.S.; Canada; the UK.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Smart tv market companies & financials:

The smart tv market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Haier Inc., Haier Inc., a wholly-owned subsidiary of Haier Group, is a manufacturer of household appliances, such as air conditioners, microwave ovens, washing machines, refrigerators, and televisions. The company initially worked on a traditional platform and has now transformed into an open entrepreneurship platform. The brands that operate under the group are Haier, Casarte, Leader, GE Appliances, AQUA, Fisher & Paykel, and Candy. The company offers its product portfolio and value-added services in approximately 160 countries and regions, including North America, Asia Pacific, the Middle East, and Africa.

  • Intex Technologies, Intex Technologies is a manufacturer of consumer durables and IT accessories. The company has collaborated with SAP to provide effective business solutions to its customers. Additionally, the company manufactures products, including LED TVs, speakers, mobile phones, mobile accessories, home appliances, IT accessories, and personal care appliances. The company procures its design and development facilities from India and China. The company continuously focuses on bringing innovation in its technology and products and has adopted key advancements, including IDMOS operating system, saltwater technology, UV vertical alignment technology, smartwatch, cloud swift, eye-safe T-matrix, firefox OS phone, and OGS curve display.

  • Koninklijke Philips N.V., Koninklijke Philips N.V. is a technology company focusing on electronics, healthcare, and lighting. The company serves both the consumer and the professional markets. The products offered for customers are sound and vision, personal care, mother and child care, household products, lightning, automotive, PC products, and phones and accessories. The company also provides diagnostic imaging, image-guided therapy, patient monitoring, health informatics, consumer health, and home care. The company has significantly innovated LED products commercially to strive for continued innovation. The company has provided its products and services to households, government, cities, offices, industry, stadiums, and retail. The company has helped transform Jakarta city as a smart city by providing lighting infrastructure and remotely managed light levels to match the different needs of the city.

  • LG Electronics, LG Electronics is a multinational electronics company that operates in four business segments: business solutions, home entertainment, home appliances, air solutions, and vehicle component solutions. The company manufactures mobile devices, flat TV panels, air conditioners, washing machines, and refrigerators. The company provides solutions for both consumer and industrial applications. The company operates 119 subsidiaries worldwide. The company has launched superior TV viewing technology by launching super HD TVs, LEDs and OLEDs, 4K resolution, and smart TVs. The company has launched a series of QLED TVs such as G7, E7, W7, C7, and B7 with features such as multi HDR with Dolby Vision that mainly provide enhanced HDR 4K pictures and Dolby atoms for providing cinematic sound to the room.

  • Panasonic Corporation, Panasonic Corporation is a consumer electronics manufacturer, including digital cameras, digital video cameras, home network systems, SD cards, faxes (drivers/software), network cameras, mobile phones (software), batteries, air conditioning, and video intercom. Along with the consumer segment, the company also provides solutions in the business segment, which includes home and living, automotive, B2B solutions and devices, such as wiring devices, housing equipment devices, industrial devices and solutions, and factory flexible wiring systems. The company operates in five business segments, including appliances company, life solutions company, connected solutions company, automotive company, and industrial solutions company. The appliances company segment engages in developing, manufacturing, and selling a broad range of products, from TVs to refrigerators.

  • Sansui Electric Co., Ltd., Sansui Electric Co., Ltd manufactures audio and video entertainment equipment. The company has a presence in over 100 countries. The company provides audio-visual devices, communication equipment, home appliances, and information equipment. The objective of the company is to provide innovative products such as QLED TVs, and Smart TVs to the customers. The company has innovated by introducing the STRATA smart TV with 14 BIT video processors, 4000 billion color dual-core processors, and FARODUJA audio and video optimized for its LCD/LED range.

  • Sony Corporation, Sony Corporation is a parent company of Sony Group that deals in the manufacturing of consumer electronics for both the consumer and professional markets. The company’s principal business segments include game & network services, music, pictures, electronics products & solutions (mobile communications/imaging products & solutions/home entertainment & sound), imaging & sensing solutions, financial services, and all other businesses. The company develops its in-house standards for video recording and storage technologies

  • Toshiba Visual Solutions (TVS Regza Corporation), Toshiba Visual Solutions (TVS), also known as TVS REGZA Corporation, is primarily involved in the development, design, manufacture, and sale of TVs and their peripherals, as well as commercial displays. The group operates various production and sales offices in Japan. TVS’s new range of TVs includes various features, such as Dolby Vision, Dolby Atmos, and Full Array Local dimming. In November 2017, Hisense acquired 95% stakes in Toshiba Visual Solutions.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Smart TV Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Smart TV Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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