Smart TV Market Report 2025 (Global Edition)

Global Smart TV Market Report 2024 Market Size Split by Type Outlook: (4K and UHD Smart TV, High Dynamic Range (HDR) Smart TV, Three Dimensional (3D) Smart TV), by Screen Size Outlook: (Below 32 inche...

Smart TV Market Report Description

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Competitive Landscape of the Smart TV Market

The market for smart TVs is fiercely competitive and controlled by major companies. Businesses compete based on attributes, including connectivity choices, smart platform integration, and display quality. Competition is also being heightened by new companies that provide affordable substitutes. Additionally, companies frequently engage in strategic alliances, mergers, and acquisitions as they work to improve their technological prowess and increase their global footprint. The competitive landscape is further shaped by differentiation through cutting-edge technologies and unique content.

In September 2024, Hisense, a prominent brand in consumer electronics and home appliances, declared that the 150-inch Hisense Laser TV would now be mass-produced. Laser TVs have been one of the main factors fueling the exponential growth in the use of 100-inch TVs in recent years. (Source: https://global.hisense.com/about-hisense/newsroom/hisense-to-commence-mass-Distribution Channelion-of-150-inch-laser-TVs) In October 2024, Haier Smart Home Co., Ltd., a global leader in home Distribution Channels and consumer electronics, said it had completed the purchase of Carrier Commercial Refrigeration from Carrier Global Corporation for about $775 million. (Source:https://www.haier.com/global/press-events/news/20241002_251570.shtml?spm=net.press-events_m.newslist_20200630.3)

In February 2024, LG Electronics India, one of the biggest brands in the country for sturdy goods, released the LG MyView Smart Monitor, which is made for both work and play at home. Streaming apps make it easy to watch your favourite shows and movies, and you can quickly set up a home office with or without a PC. With Full HD IPS screens (1920x1080), these monitors give you stunning images with more contrast and lifelike detail from any angle. (Source: https://www.lg.com/in/about-lg/press-and-media/lg-electronics-launches-myview-smart-monitors/)

Top Companies Market Share in Smart TV Industry: (In no particular order of Rank)

• Haier Inc.
• Hisense International
• Intex Technologies
• Koninklijke Philips N.V
• LG Electronics Inc.
• Panasonic Corporation
• Samsung Electronics Co. Ltd
• Sansui Electric Co. Ltd
• Sony Corporation
• TCL Electronics Holdings Limited
• Toshiba Visual Solutions (TVS Regza Corporation)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Smart TV Market

Which Region Dominates the Smart TV Market in 2024?

According to Cognitive Market Research, North America currently dominates the smart TV market, and the region is expected to have significant growth during the projected period. This is due to a strong preference for cutting-edge technology, availability of broadband internet access, and high consumer discretionary budgets. The popularity of streaming services and smart home integrations, the existence of top smart TV makers, and ongoing innovation all contribute to the region’s market growth.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR) due to rising disposable earnings, an expanding middle class, and fast urbanization. Demand is also fueled by growing internet usage and the appeal of streaming services. Key manufacturers to help foster market expansion and government programs that encourage digital connectivity are also major factors propelling the growth of the smart TV market in the area.

The current report Scope analyzes Smart TV Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Smart TV

According to Cognitive Market Research, the global Smart TV market size was estimated at USD 229614.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 91845.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Smart TV market with a market size of USD 72466.34million in 2024 and is projected to grow at a CAGR of 15.0% during the forecast period. The U.S. market's growing population.
• The Canada-smart TV market had a market share of USD 11021.50 million in 2024 and is projected to grow at a CAGR of 16.0% during the forecast period. Canada’s innovation in technology.
• The Mexico-smart TV market is projected to witness growth at a CAGR of 15.7% during the forecast period, with a market size of USD 8357.97 million in 2024.

Europe Smart TV

According to Cognitive Market Research, the global Smart TV market size was estimated at USD 229614.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 68884.35 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.5% from 2024 to 2031.

• The United Kingdom Smart TV market had a market share of USD 11572.57 million in 2024 and is projected to grow at a CAGR of 16.3% during the forecast period. In the UK, Smart TV sales witnessed an upswing due to the increasing population.
• The France-smart TV market is projected to witness growth at a CAGR of 14.7% during the forecast period, with a market size of USD 6337.36 million in 2024.
• According to Cognitive Market Research, the German smart TV market size was valued at USD 13639.10 million in 2024 and is projected to grow at a CAGR of 15.7% during the forecast period. In Germany, Smart TV surged due to the major market players.
• The Italy Smart TV market is projected to witness growth at a CAGR of 14.9% during the forecast period, with a market size of USD 5924.05 million in 2024.
• The Russia Smart TV market is projected to witness growth at a CAGR of 14.5% during the forecast period, with a market size of USD 10677.07 million in 2024.
• The Spain Smart TV market is projected to witness growth at a CAGR of 14.6% during the forecast period with a market size of USD 5648.52 million in 2024
• The Luxembourg Smart TV market is projected to witness growth at a CAGR of 15.6% during the forecast period, with a market size of USD 2135.41 million in 2024.
• The Portugal-smart TV market is projected to witness growth at a CAGR of 15.3% during the forecast period, with a market size of USD 1446.57 million in 2024.
• The Greece Smart TV market is projected to witness growth at a CAGR of 15.8% during the forecast period, with a market size of USD 826.61 million in 2024.
• The Rest of Europe's Smart TV market is projected to witness growth at a CAGR of 14.2% during the forecast period, with a market size of USD 10677.07 million in 2024.

Asia Pacific Smart TV

According to Cognitive Market Research, the global Smart TV market size was estimated at USD 229614.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 52811.34 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.0% from 2024 to 2031.

• According to Cognitive Market Research, the China-smart TV market size was valued at USD 23765.10 million in 2024 and is projected to grow at a CAGR of 18.5% during the forecast period. Smart TV surged in China due to the presence of major market players.
• The Japan Smart TV market is projected to witness growth at a CAGR of 17.5% during the forecast period, with a market size of USD 7287.96 million in 2024.
• The India-smart TV market had a market share of USD 6337.36 million in 2024 and is projected to grow at a CAGR of 20.8% during the forecast period. India's rising urbanization .
• The South Korean Smart TV market is projected to witness growth at a CAGR of 18.1% during the forecast period, with a market size of USD 5281.13 million in 2024.
• The Australian Smart TV market is projected to witness growth at a CAGR of 18.7% during the forecast period, with a market size of USD 2746.19 million in 2024.
• The South East Asia Smart TV market is projected to witness growth at a CAGR of 20.0% during the forecast period, with a market size of USD 3643.98 million in 2024.
• The Rest of Asia Pacific Smart TV market is projected to witness growth at a CAGR of 18.8% during the forecast period, with a market size of USD 3749.60 million in 2024.

South America Smart TV

According to Cognitive Market Research, the global Smart TV market size was estimated at USD 229614.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 11480.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil-smart TV market size was valued at USD 4913.75 million in 2024 and is projected to grow at a CAGR of 17.0% during the forecast period. Smart TV flourished in Brazil due to rising urbanization.
• Argentina's Smart TV market had a market share of USD 1928.76 million in 2024 and is projected to grow at a CAGR of 17.3% during the forecast period. Argentina's rising personal disposable income.
• Colombia Smart TV market is projected to witness growth at a CAGR of 16.2% during the forecast period, with a market size of USD 1021.78 million in 2024.
• Peru’s Smart TV market is projected to witness growth at a CAGR of 16.6% during the forecast period, with a market size of USD 941.42 million in 2024.
• Chile’s Smart TV market is projected to witness growth at a CAGR of 16.7% during the forecast period, with a market size of USD 826.61 million in 2024.
• The Rest of Latin America's Smart TV market is projected to witness growth at a CAGR of 15.5% during the forecast period, with a market size of USD 1848.40 million in 2024.

Middle East and Africa Smart TV

According to Cognitive Market Research, the global Smart TV market size was estimated at USD 229614.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 4592.29 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.7% from 2024 to 2031..

• The GCC Countries Smart TV market is projected to witness growth at a CAGR of 17.5% during the forecast period, with a market size of USD 1965.50 million in 2024. Smart TV sales flourish due to the presence of major market players.
• Egypt’s Smart TV market is projected to witness growth at a CAGR of 17.0% during the forecast period, with a market size of USD 482.19 million in 2024.
• The South Africa Smart TV market is projected to witness growth at a CAGR of 17.7% during the forecast period, with a market size of USD 725.58 million in 2024. Smart TV sales flourished in South Africa due to increasing internet penetration.
• The Turkey-smart TV market is projected to witness growth at a CAGR of 16.2% during the forecast period, with a market size of USD 394.94 million in 2024.
• The Nigeria Smart TV market is projected to witness growth at a CAGR of 15.8% during the forecast period, with a market size of USD 482.19 million in 2024.
• The Rest of the MEA-smart TV market is projected to witness growth at a CAGR of 15.7% during the forecast period, with a market size of USD 541.89 million in 2024.

Smart TV Market Analysis

How are Segments Performing in the Global Smart TV Market?

Smart TV Market Type Segment Analysis

According to Cognitive Market Research, 4K and UHD Smart TV smart TVs are likely to dominate the smart TV market over the forecast period this is because they offer immersive viewing experiences and excellent image quality. Additionally, their broad use is fueled by rising consumer demand for high-resolution content, falling costs, the expansion of 4K streaming services, and ongoing developments in display technology. Furthermore, buyers find 4K and UHD models quite appealing due to improved features like HDR and better connectivity possibilities.

The high dynamic range (HDR) smart TV type is the fastest-growing segment in the smart TV market because of its excellent image quality, which includes brighter colors and more contrast. HDR TVs are becoming more and more popular due to rising customer demand for high-end viewing experiences, the broad availability of HDR content on streaming services, technological developments, and falling costs.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Smart TV Industry. Request a Free Sample PDF!

Smart TV Market Screen Size Segment Analysis

According to Cognitive Market Research, the 32 to 45-inch segment holds the largest share of the market because these sizes provide the optimal balance between screen size and price, making them suitable for the majority of living areas. They offer outstanding performance for daily viewing, are adaptable to different room configurations, and satisfy a broad spectrum of customer expectations. Additionally, this market is very well-liked by consumers because of its wide range of models and affordable prices.

In the smart TV market, the 46 to 55-inches sector has been expanding at a rapid pace because the popularity of gaming and streaming services has led users to seek for larger screens for better viewing experiences. Additionally, the tendency toward home entertainment sets, enhanced affordability, and cutting-edge features like HDR and high resolution all contribute to this segment’s rapid growth.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Smart TV Technology Outlook: Segment Analysis

Smart TV Market Technology Segment Analysis

According to Cognitive Market Research, the LED smart TV segment holds the largest share of the market. This is because of their dependability, energy efficiency, and affordability. LED TVs come in a wide range of pricing points and provide great picture quality. Additionally, LEDs are a popular option for customers looking for quality and cost because of their improved features and durability brought about by improvements in LED technology, all of which factors fuel their market growth.

In the smart TV market, the OLED smart TV has been growing due to their sleek designs, improved energy economy, deep black and bright color picture quality, and growing demand from consumers for high-end viewing experiences. Their growing popularity is also a result of their expanding availability and declining costs.

• OLED
• QLED
• LED
• Plasma
• Others

Smart TV Distribution Channel Outlook: Segment Analysis

Smart TV Market Distribution Channel Segment Analysis

According to Cognitive Market Research, offline are likely to dominate the smart TV market over the forecast period. This is due to the capacity to offer practical experiences, prompt product availability, and individualized client support. Furthermore, customers rely on physical businesses for trustworthy assistance and demonstrations, which help them make well-informed purchases. Robust retail networks and successful in-store marketing further strengthen offline sector growth in the smart TV market.

Online smart TV is the fastest-growing segment in the smart TV market. As a result of the increased product choices, affordable prices, and ease of buying from home. Consumers are drawn to improved e-commerce platforms, simple pricing comparisons, and user review accessibility. The quick rise in online smart TV sales is also fueled by expanding internet usage, efficient digital marketing, and adaptable delivery choices.

• Online
• Offline

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje

An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

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