Smart TV market, growth, trends, and forecast

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television, remote, live @ Pixabay

The cable TV providers are adapting to the new challenges posed by the streaming and the TV industry. The TVs are getting better with time and now support a new range of resolutions and programming. Therefore, the cable TV providers must now be able to give the service in 4K and higher resolution,resolution must have an extensive channel lineup, and good customer service. Luckily, Mediacom is one of those providers to boast extensive channel lineups. Mediacom customer service has a 24/7 support for all the queries making it a great provider overall. 

A smart TV has several features. It is a TV that is connected to the internet and has a large number of built-in applications. You can access many streaming services like Netflix, YouTube Prime, Hulu, amazon prime video, and YouTube. Smart TVs also allow you to connect with other wireless devices, such as tablets and mobile phones. The smart TV market can be categorized by its technology, screen size, resolution type, distribution channels, region, and platform.

Resolution Type:

The resolution type for the TV in the market can be categorized into the following:

  • HD TV
  • 4K ultra HD TV
  • 8K TV
  • Full HD TV

Screen Size:

There are several choices when it comes to choosing a TV of your desired screen size. Some people like it small so that it can fit in their small living room. While other people like big screens so they can enjoy their favorite shows. The options for screen sizes that are available in the market are

  • Ranging from 32 to 45 inches
  • 46 to 55 inches and above 65 inches

Screen Type:

The screen type that is available in the market until now includes a flat-screen and a curved screen.

Screen Technology:

As science progresses, there are new technologies in the market that changes your way of watching TV. Many advanced technologies make it more fun to watch TV. These includes

  • Liquid crystal display is also known as LCD
  • The light-emitting diode, also known as LED
  • Organic Light Emitting Diode, also known as OLED
  • Quantum Dot Light Emitting Diode, also known as QLED

Smart TV market:

Smart TVs nowadays have advanced software in them. Following are some software that is being used in the operation of a smart TV. These include:

  • Android
  • WebOS
  • IOS
  • Roku
  • Tizen OS
  • MyHomeScreen

Until now, android is the most common software being used in the market and it holds the largest share in the market. Since it is easy to use and many people are already using android on their mobile phones so, it is easy to operate and understand.

Market Analysis:

In recent times, internet technology has grown rapidly. Nowadays there is a huge amount of content available online to watch. It increases the demand for a smart TV among people. Since many companies are manufacturing smart TVs, their prices have reduced as they become popular among people. A reduction in prices has increased the availability of smart TVs to people. The factors that are increasing smart TV demand include 4K resolution which is a brand new technology.

Competitive Landscape:

The report has a detailed analysis of all the companies that are manufacturing smart TVs. Based on their capacity, shares, market, and latest developments, we have listed down the technologies that are exceptional in their manufacture. These include

  • Samsung
  • TCL
  • Vizio Inc.
  • LG
  • Apple Inc.
  • Panasonic
  • Sony

In 2020, the smart TV market attained nearly USD 180 billion globally. The growth of the smart TV market between 2021 and 2026 is predicted to grow at a CAGR of more than 10.2%. By the increasing demand for smart TV, it is predicted that from 2021 to 2026 the market will reach more than USD 319 Billion by the end of 2026.

The major industry drivers are the increasing population, rising incomes of people, advancements in the field of the internet, reduced prices of smart TVs, and growing technologies in smart TVs. These factors are expected to drive more revenue to the smart TV market.

Final Word:

Every country is trying to become number one in the race of manufacturing advanced smart TVs. Many companies have done breakthrough researches as well. 4K and now 8K are the future technologies everyone is looking at. Shortly, the advanced technologies will change our experience of watching TV.

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