According to research by Grand View Research, the value of the global smart TV market will reach 292.55 billion U.S. dollars over the next eight years. 4K, OLED and QLED TV will become the mainstream trend.
Analysts said that as smart TVs help improve the viewing experience, the growth in the popularity of smart homes is also driving the growth of the smart TV market. Home entertainment is preparing for the arrival of smart homes, and the demand for smart TV market will also increase.
The research data shows that with the increase of consumer demand and the decrease of prices, large-screen TVs are expected to capture a large amount of market share. The Asia Pacific region will dominate the entire smart TV market, and its compound annual growth rate in the forecast period exceeds 10%. The rise of new enterprises in China will also contribute to regional growth.
Grand View Research believes that streaming media devices such as APPLE TV, Amazon Fire TV and Google Chromecast are changing the viewing experience of consumers. Recently, some manufacturers have cooperated with OTT content and equipment suppliers, built-in OTT platform in the product, users do not need to purchase additional set-top boxes. For example, TCL teamed up with Roku to launch a 4K HDR Roku TV. Hitachi, Hisense, and Sharp also partnered with Roku to provide similar functionality.
Research shows that 4K ultra high-definition is expected to show significant growth. The declining prices of such TVs have attracted consumers and have also driven demand growth. During the forecast period, 46-55-inch TVs will dominate the entire market. Grand View Research said that the growth of large-size TVs has benefited from high-resolution, high-definition and Dolby Digital sound, all of which can bring a better experience on large-size screens.
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