TV Market Size, Share, Growth, and Industry Analysis, By Type (Under 60 Inch, 60–70 Inch, Above 70 Inch), By Retail Channels (Hypermarket & Supermarket, Specialty Store, Online, Others), and Regional insight and Forecast to 2032

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TV MARKET REPORT OVERVIEW

The global tv market size was USD 344.94 billion was 2024 and will touch USD 738.65 billion by 2032, exhibiting a CAGR of 10% during the forecast period.

TV market is a crucial component of the entertainment and also communication market that provides a chance for people to view shows, movie and also videos on gadgets. With made demand for TVs continuing to rise due to rising demand for better viewing experience with better picture quality and smart features. Not only TV companies introduce new models with more advanced technology such as bigger screen, better displays, and internet connectivity, viewers will have it easier to access content. The big and smart TV are catching up as more people end up at home. Overall this industry is molding, with rising competition and volatile consumer preference driving growth and innovation.

COVID-19 IMPACTING TV MARKET

"TV Industry Had a Negative Effect Due to Factory Disruptions during COVID-19 Pandemic"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

TV was disrupted around the world in as a result of the COVID-19 pandemic. But lockdowns and border closures in Hungary and the Czech Republic hurt Samsung’s European factories. However, its facility in Vietnam continued to operate smoothly. Similarly, LG faced only a small setback in its Gumi research center in South Korea, but its production remained mostly unaffected, ensuring a steady supply of TV panels.

LATEST TRENDS

"Consumer preference for immersive experiences drives rising demand for larger screens"

With the growing need for large TVs, especially those above 70 inches, this is one of the latest trends which are driving the rise. Because people want a more immersive viewing experience, bigger screens are finding their way into living room and home theater. The industry is growing because larger TVs are replacing smaller ones with advancements in picture quality and affordability, and thus better viewing experience is being offered to consumers.

TV MARKET SEGMENTATION

By Type

• Under 60 Inches: These are compact, affordable TVs that are popular for smaller living spaces or bedrooms. They are ideal for those who want a good viewing experience without taking up too much room.

• 60–70 Inches: These TVs offer a balanced size for larger rooms, providing an immersive experience without being overwhelming. They are often chosen for mid-sized living rooms or entertainment areas.

• Above 70 Inches: This segment targets consumers who desire a premium home-theater experience with large-screen displays. These TVs are typically placed in spacious living rooms for a cinematic feel.

By Application

• Hypermarkets & Supermarkets: These are physical stores where consumers can browse and buy TVs on the spot. They offer the advantage of immediate purchase and sometimes discounted prices.

• Specialty Stores: These stores provide expert advice and a wide selection of TVs. They cater to customers looking for specific features, such as high-end models or custom setups.

• Online: The growing trend of online shopping allows consumers to compare prices, read reviews, and get home delivery. This channel has become more popular due to convenience and often offers better deals.

• Others: Includes pop-up stores, direct brand outlets, and e-commerce platforms. This channel offers flexible purchasing options, like seasonal sales and exclusive deals.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

"Increased tech integration boosts consumer interest in advanced television devices"

As an increasing number of consumers demand televisions with greater capabilities, for example artificial intelligence (AI), 4K/8K resolution and IoT connectivity, manufacturers need to become more advanced. The apps, streaming platforms and voice assistants integrated nicely with smart TVs make user experience less hectic and increases demand. In particular, this trend is quite strong among the developed markets where consumers are used to something more than their entertainment devices.

"E-commerce growth leads to higher television sales and convenience"

The ease of the Internet shopping has helped TV sales a great deal as more people now wish to purchase TV models and prices at the comforts of their homes. The purchase of TVs online is also gaining popularity due to e-commerce platforms selling the largest number of products with discounts and home delivery. The digital landscape is growing, consumers want convenience and the ease of purchase, so this shift is accelerating.

Restraining Factor

"Rising production costs lead to higher prices, slowing customer demand"

The rise cost of TV production remains one of the main problems the TV market growth faces. With prices for materials such as screen panels and chips rising, manufacturers are spending more. This higher cost often results in more expensive TVs for customers, which can slow down sales, especially in regions where people are more price-sensitive.

Opportunity

"Increasing demand for eco-friendly products boosts sustainable TV sales potential"

More and more people have started to understand environmental issues, which are why there is a growing demand for eco friendly TVs. This provides manufacturers with an opportunity to produce energy-saving TVs that can be recycled and help buyers purchase more wisely and, at the same time, contribute to global sustainability goals, promising new opportunities for the growth of their business and enhancing their brand image.

Challenge

"High competition forces companies to innovate or risk losing customers"

There are many companies that offer similar product in the TV market. It’s hard for any one company to stand out. However, in a market where there are plenty of established competitors, we need to find ways for companies to attract customers, whether it is through great features, low prices, or simply great customer service.

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TV MARKET REGIONAL INSIGHTS

• North America

The North American market, particularly the" "United States TV market", r"emains a significant player in the global television sector. The region is driven by high disposable incomes, tech-savvy consumers, and demand for premium smart TV features. A strong retail network, combined with continuous advancements in display technology such as OLED and QLED, supports the growth of the market.

• Europe

A mature market with stable demand, Europe is characterized by growing export values and traditional import markets continues to represent a dynamic export destination, like Germany, the UK or France. Advanced TV technologies (4K and 8K displays) are wide spread. But European consumers are getting increasingly eco friendly and it's creating rising demand for energy efficient and sustainable products.

• Asia

The fastest growing region in the global TV market share is Asia Pacific, fueled by the rapid growth of Asia Pacific market, with a growth in demand from emerging economies such as China, India and Southeast Asian countries. This is a very competitive region since they need affordable televisions with advance features. Urban growth is driven by rapid urbanization and rising disposable income, mainly in urban centres.

KEY INDUSTRY PLAYERS

"Innovation and competitive pricing drive growth and sustain industry leadership"

Key players like Samsung, LG, Sony, and TCL are leading the TV market by constantly improving their products. Samsung picture and sound are the focus from Sony, while TCL is well known for its affordable, yet feature packed products. To keep the market stead, these companies have been able to sustain and increase their market presence by producing new features, adding new product lines, and selling at competitive prices as the customer needs with preference change.

List of Top TV Companies

• Samsung (South Korea)
• TCL (China)
• LG (South Korea)
• Hisense (China)
• Sony (Japan)
• Skyworth (China)
• Panasonic (Japan)
• MI (China)
• Sharp (Japan)
• Vizio (U.S.)

INDUSTRIAL DEVELOPMENT

January 2024, Samsung unveiled its new line of AI powered QLED televisions. It can be considered as a big step forward in the offerings of smarter and more energy efficient TV options with an advanced picture quality customized according to the users’ preferences. This move aims to strengthen Samsung's competitive edge in the premium TV market while setting new standards for intelligent home entertainment systems.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global TV market from multiple angles, which also provides sufficient support to readers' strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies, and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.