The old television sets are completely modified, and major leading companies like Google, Microsoft, Apple, LG, Samsung, and Sony have led a revolution in Global Smart TV Market. There is an intense growth opportunity in Global Smart TV Market as the market is expected to touch a level of USD 265 Billion with a CAGR of 17%.
Research and Development
There is a drastic change in the TV sets we use, way ahead from black & white to colored TV sets, from CRT to LED. The latest Smart TV offers a crisp picture quality (HD and UHD) and has inbuilt features of Wireless (Wi-Fi and Bluetooth) and USB Connectivity, Quad-Core processor, Dimming Technology, Eco sensors, and connect share and motion control technology.
There is a huge investment made by companies in R & D of smart TV’s, as a result, to which the recent technological development in Smart TV is of 4D and 5D technology that enhances the experience of its users by many folds.
Global Smart TV Market: Scope
Starting with the year 2010, the Global Smart TV Market valued at USD 86 Billion, and with its expanding scope/usage in various areas other than home entertainment like in Offices, Educational institution, etc. the Global Smart TV Market is forecasted to grow at a CAGR of 20.37% (Source: MnM Analysis report) in volume and the market is expected to expand at a CAGR of 8.10% (Source: TechNavio’s Analysis report).
Considering the total unit shipment, the value of Smart TV in 2010 was around 43.6 million, which grew at an annual rate of 47% to 64 million in the year 2011. This growth in Global Smart TV Market is expected to grow at Compounded Annual Growth rate (CAGR) of 19%, with a total Smart TV unit shipment of 153.2 Million by the year 2020