A connected TV refers to a TV that helps users to watch videos with the help of internet connectivity. These are designed to provide a more immersive experience for viewers by delivering interactive features such as social networking, web browsing, video-on-demand, and video streaming, along with regular television content. Connected TVs, much like smartphones and smart home devices, offer internet connectivity and support for a range of web platforms and apps. This is likely to drive demand from users in the coming years.
Rising disposable income of users along with increasing investment of users in electronic entertainment devices is influencing the growth of the connected TV market. Manufacturers are offering end-users technologically advanced products with high resolution, which is likely to lead to the growth of the connected TV market. Moreover, increasing number of television viewers and rising popularity of video watching through online channels such as apps, web platforms, and other internet platforms is anticipated to drive the growth of the global connected TV market throughout the forecast years.
Asia Pacific the Dominant Connected TV Market
In terms of geography, the global connected TV market can be divided into five regions -North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA) North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the connected TV market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, the Asia Pacific market includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the connected TV market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America connected TV market is segmented into Brazil, and Rest of South America.
Asia Pacific is projected to hold major share of the market throughout the forecast period owing to rising demand for connected TVs along with increasing dependency of users on internet-based devices across the region.
Key Players Operating in the Global Market
Various companies are adopting latest technologies and are intending to invest more in product development and research & development, to gain share in the connected TV market. In addition, manufacturers are focusing on improving production capacity in order to fulfill the requirements of end-users and remain competitive in the fragmented market.
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A few of the key players operating in the global connected TV market are listed below:
- Apple Inc.
- Haier Group Corporation
- Hisense Group Co. Ltd
- Hitachi Ltd
- Insignia Systems Inc.
- IZIO Inc.
- Koninklijke Philips NV
- LG Electronics Inc.
- Panasonic Corporation
- Samsung Electronics Co. Ltd
- Sony Corporation
- TCL Corporation
- Westinghouse Electric Corporation
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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