According to the latest report by IMARC Group, titled “Smart TV Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on global smart tv market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global smart TV market reached a value of US$ 239 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 358.6 Billion by 2027, exhibiting at a CAGR of 6.2% during 2022-2027. A smart television (TV), also called connected TV, represents a next-generation device equipped with the internet and Web 2.0 features. It includes various features, such as on-demand content from different applications, a TV operating system, graphical user interface (GUI), the capability of connecting with other wireless devices, access to various streaming services, an ethernet connection, built-in Wi-Fi that eliminates the need for a separate set-top box, etc. Moreover, a smart TV offers the capabilities of searching, chatting, browsing, sharing, and downloading content to the viewers as compared to its counterparts, including a traditional cable television.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Smart TV Market Trends:
The inflating popularity of the over-the-top (OTT) space that distributes original content via the internet is primarily driving the smart TV market. In line with this, the growing demand for premium sports, movies, and entertainment content via Video on Demand (VoD) platforms is further catalyzing the market growth. Additionally, the increasing integration of a smart TV with several input devices, such as keyboards, mouses,…