A TV is a large device consisting almost entirely of a single display. Initially televisions received broadcasting signals and changed them into pictures and sound. Now they have the added functionality of playing files from external storage and streaming videos from the Internet. A TV can show pictures from many television networks. Computers and mobile devices can also be used for watching television programs. The invention of the television was the work of many individuals in the late 19th and early 20th centuries. Over the years TVs have evolved significantly, until digital television led to the invention of the smart TV, a set with integrated Internet and Web 2.0 features, which is an example of technological convergence between computers and television sets and set-top boxes. Over 50% of TV Market Share is concentrated among Samsung, LG, and Sony. You can find TV Market Size, TV Market Share, and other trends and statistics below and you can get help with additional TV industry market research and learn more about T4's strategy consulting services here.
The chart shows the Smart TV Market Size from 2018 to 2024. In 2020, the size of the Smart TV Industry was $190B and is projected to grow 10% in 2021. From 2018 to 2024 the Smart TV Industry growth is projected to average 10% per year. Smart TV market share accounted for 70% of the overall TV market worldwide in 2018. These estimates were made before the Coronavirus (COVID-19) pandemic. The short term impact of COVID-19 on the TV market growth will likely be Beneficial because an increasing number of consumers, children, and employees stay indoors, doing their activities mainly online. The demand for new TVs increases as electronic devices become an essential tool for the activities at home; but the supply may face difficulties, since factories are operating at a lower capacity. The long term impact of COVID-19 on the TV market growth beyond the COVID-19 pandemic will likely be Medium because much of the supply chain for TVs and other electronic devices are facing supply constraints as factories are operating at much lower capacity resulting in component shortages. The demand may face difficulties in the long term until production is restored completely. Request help with obtaining the source for this data and additional TV industry market research and learn more about T4's strategy consulting services here.
The chart shows TV Market Share in 2019. The TV Market is Concentrated among a few vendors. The leading Vendor in the TV Industry was Samsung with 31% market share in 2019, followed by LG with 16.3% TV market share, Sony with 9.4% TV market share, Hisense with 6.4%, TLC with 6.4%, and Others with 30.6%. Get help with market research for the TV market, including the source for this TV Market Share chart and learn more about T4's strategy consulting services here.
TV market growth is driven by technological developments related to improvements in technology, screen quality and sizes, features, and compatibility with more devices. The growth in the TV market is driven by innovations and improvements which generate demand for replacing old TVs. These innovations and improvements are mainly related to the technical capabilities and features of the TVs (better displays, more compatibility with other devices, wider and better quality screens, smaller sizes with wider screens, smart TV functionalities, etc). The increasing affordability in terms of pricing also aids in the growth of TV sales.
Learn about T4's Consulting servicesTV is a Mature market composed of a few large competitors and many small competitors. 57% of the Television manufacturers market share is concentrated among the top 3 brands. Samsung market share was 30.9% of the TV market in 2019. Samsung market share in the global TV market topped 30% for the first time in 2019, as its global predominance for 14 straight years was cemented by premium quantum-dot based QLED TVs. Samsung sold 5.32 million units of QLED TVs in 2019, more than doubling from 2.6 million units in 2018. LG market share was 16.3% of the Samsung market on TV. LG market share in the TV market is the second. However, LG Accounts for 54% of the total OLED TV market units shipped in 2018. TV industry experts forecast that the OLED TV market will continue to grow based on favorable market responses. Sony TV market share was 9.4% of the TV market in 2019. Sony came in third with a 9.4 percent share, down 0.7% points from the previous year. Hisense market share was 6.4% of the TV market in 2019. The Chinese brand Hisense expanded its strategy to the overseas markets in 2018, currently exporting approximately 50% of its production. Hisense TVs come with additional accessibility features to assist visually and hearing-impaired customers.
T4's research team can help you learn more about the TV industry with market analysis, competitive analysis, commercial Due Diligence, and other market research needs. This includes deeper analysis on competitors in the TV market, including: Samsung, LG, Sony, Hisense, TLC, Panasonic, Sharp, Insignia, Westinghouse, Toshiba, Vizio, Philips, Polaroid, RCA, Sceptre, Seiki, Hitachi, JVC, Xiaomi; research into related topics such as Consumer Electronics, Consoles, Internet of things, Notebooks, Cable TV, Video on Demand (VOD), Streaming Services, QLED, 4K; or additional support in the Technology, Consumer Electronics Sector or other Sectors. Learn more about T4's strategy consulting services here.
