Smart TV Market Share

APAC Market Statistics

Asia Pacific industry is expected to dominate majority revenue share of 40% by 2037. The growing trend of TV, increasing affordability by the middle class, and the desire to watch exclusive content are the growth driving factors for the Asia Pacific region. In India, a huge number of audiences present on OTT platforms significantly boosts the demand for the market. As per a report, in 2023, the average minute audience was over 1 Trillion in India. The market in China is growing due to rapid technological innovations in the consumer electronics industry, increased use of TV, and expansion in the disposal income. According to a recent study, the smart TVs were valued at around USD 620 Billion Yuan in 2020. The market in Korea is flourishing due to the demand for larger screen, cheap prices, and the availability of advanced features. In 2022, nearly 60% of households were found using smart TVs in South Korea.

North American Market Analysis

North American region in smart TV market is set to exhibit around 2% CAGR till 2037, owing to the growing population of video streaming applications in this region. The U.S. is technologically an advanced country and television is the primary source of entertainment but with the incorporation of avant-garde features, now the smart TV have taken over the traditional entertainment systems as these have diverse sources of entertainment. As per a report, nearly 68% of U.S. residents who are under the age group of 18 to 29 claim to own smart TVs. The market is thriving in Canada due to the rise in disposable income and enthusiasm among youth for smart TVs. As per Statistics Canada, the disposable income of Canada was over 1.5 million in 2023.