SMART TV MARKET ANALYSIS

Regional Analysis

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North America has established itself as the dominant region in the global smart TV market with an estimated market share of 41.9% in 2024. The U.S. boasts high disposable income of consumers who are early adopters of new technologies. These are constantly switching to the latest TV models featuring enhanced internet and streaming capabilities. This has provided a fillip to smart TV sales. The presence of tech giants like Apple, Google and Amazon who are investing heavily in user-friendly platforms and content has widened the appeal of smart TVs. Wide availability of high-speed internet and affordable data plans have further fuelled online content consumption through these internet-connected TVs. With over 70% smart TV penetration currently, the region signifies the future of television viewing which centers around smart features and content streaming.

Asia Pacific region has emerged as the fastest growing market globally led by China and India. Massive manufacturing capabilities of TV brands in these countries coupled with competitive pricing makes smart TVs highly accessible to people. China, with its enormous consumer base, is a lucrative market already accounting for over a third of the APAC market. Government initiatives to improve connectivity in India have bolstered the demand for smart TVs among its youthful population inclined towards OTT media consumption. Local content tailored for these markets also adds to the desirability of smart TVs over regular models. The growth trajectory is further encouraged due to low smart TV penetration currently standing at around 35% indicating scope for future expansion. The changing viewing habits and increasing preference for streaming content on mobile and smart devices can boost growth of connected TV ecosystem in Asia Pacific.