SMART TV MARKET ANALYSIS

Global smart TV market growth can be hampered due to high initial investment and cost of upgrading required for both manufacturers and consumers. Developing advanced features and functionality for smart TVs requires massive R&D expenditures. Integrating cutting-edge technologies like artificial intelligence and internet-of-things are quite expensive. These increased costs are eventually passed on to the consumers, thus, making smart TVs out of reach for price-sensitive customers. For existing smart TV users, seamless connectivity with other smart devices and access to latest entertainment applications demands frequent upgrades and purchase of new models. However, most customers are hesitant to frequently bear the expenses of TV upgrades just to access novel features. Increasing pace of technology innovations has further shortened product life cycles and prompts more frequent replacements, adding to the ownership costs. Unless these barriers related to initial investment and upgrading costs are reduced, it will be difficult to achieve large-scale penetration of smart TVs globally.

Opportunity- Expansion of Content Ecosystem

Expansion of the content ecosystem available for viewers can offer market growth opportunities. As broadband and cellular connectivity expands across the world, there is a growing market for over-the-top media services delivering video and audio content. Major players like Netflix, Amazon Prime Video, YouTube and many regional providers have started offering their vast libraries of TV shows, movies, news and podcasts that can be seamlessly played on smart TVs. This explosion of digital content from various sources presents virtually limitless options for personalized entertainment consumption on smart TVs. The interactive and connected nature of smart TVs allows seamless discovery, choice and access to such a diverse array of content anytime anywhere. Further integration of smart TVs with virtual assistants, augmented reality and voice commands can enhance the content discovery and viewership experience multi-fold. This expanding content ecosystem can boost consumer demand and ownership of smart TVs globally.