Zion Market Research, the market research group announced the analysis report titled ‘Smart TV Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024’
Global Smart TV Market: Overview
Smart TVs are an advanced version of televisions; they are accompanied by the set-top box and are integrated with internet capabilities. They have advanced computing ability in order to connect with the internet rather than a traditional television set. These smart TVs offer some advantages such as update, search, browser, share, download, chat, and so on to the consumers. smart TVs are equipped with some smart features and operating system in order to run widgets and apps smoothly. They have the capability to stream audios and videos. It facilitates consumers with internet surfing and provides access to sites such as Facebook, Google, and various others with the support of Wi-Fi connectivity.
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Global Smart TV Market: Segmentation
The global smart TV market is categorized based on the end-use as office purpose, home entertainment, and educational purpose. On the basis of applications, the global market is further bifurcated as integrators, creators, and aggregators. Based on geography, the global smart TV market is segregated as North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa.
Global Smart TV Market: Growth Factors
The major driving factor for the global smart TV market is changing buying behavior of the consumer. However, the commercial sector is also experiencing the higher growth in the global market. Smart TV platforms offer IC technology solutions to the end-user; this is also fueling the global smart TV market growth. Higher feasibility in the potential applications also led the global market to the higher growth. Moreover, rising purchasing power of the population and adoption of the advanced technologies also propel the global smart TV market growth in coming years. Changing company strategies to beat their rivals such as collaborations, new product developments, agreements, partnerships, mergers & acquisitions, and contracts is expected to foster the global market growth. However, the common strategy adopted by the companies is new product development and research.
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Global Smart TV Market: Regional Analysis
Asia Pacific contributed for the largest market share in the global smart TV market due to acceptance of the smart TVs in the large quantity. Japan and Korea are the major producers and consumer of the smart TVs. North America is following the same trend, whereas domestic manufacturers are significantly boosting the production capacity may enhance the global smart TV market. Moreover, the intense competition emerged among top players in this region to offer innovative features at an efficient cost further boost the global market growth. Furthermore, consumer inclination towards branded products is anticipated to propel the global market growth.
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Global Smart TV Market: Competitive Players
Major players operating in the global smart TV market are Logitech International, Samsung Electronics, LG Corporation, Onida Electronics, TechniSat Digital, Hong Kong Skyworth Digital Holdings, Toshiba Corporation, Haier Consumer Electronics Group, Videocon Industries, and Vizio, Inc. Others players include Koninklijke Philips N.V., Microsoft, Samsung Electronics, Sony Corporation, Apple, Yahoo, TCL Corporation, Panasonic Corporation, Intel, and Sharp Corporation.