A smart television also referred to as hybrid television or connected television, is a television set or a set-top box with integrated Internet and interactive features. Smart television is a technological convergence between flat screen television sets, computers and set-top boxes. Besides traditional functions offered by conventional television sets and set-top boxes provided via traditional broadcasting media, these devices are also capable of providing IPTV, OTT content, online interactive media, as well as home networking access, and on-demand streaming media.
Smart televisions have transformed the digital viewing and entertainment industry as they offer a varied spectrum of innovative features through Internet-connected services. Smart televisions possess Wi-Fi capability or an Ethernet port that facilitates users to stay connected to the Internet. The global television market is currently in the fourth generation of connected televisions, with major manufacturers competing for television models with the latest innovations in user interface, content aggregation, and application development. Smart televisions possess an in-built operating system to run widgets and apps, that facilitate sreaming of music and videos. It further enables users to access various innovative functions such as internet surfing, and recording television programs with the help of Wi-Fi connectivity. The smart televisions have thus enabled a user to run applications that were originally developed for smartphones. The key usage of smart televisions is for watching online movies, weather information, playing games, television shows, listening music, social networking, viewing photos, reading news, making internet voice calls, and playing social games among others.
Easy availability of 3D videos across the web coupled with increased popularity of 3D games and movies has bosltered the demand for 3D television sets. In addition, the declining prices of 3D LED smart televisions owing to intense competition among manufacturers is further expected to bolster its adoption across the globe. The global 3D LED smart television market has been bifurcated on the basis of display type as LCD 3D, plasma 3D, and 3D LED televisions.
However, high demand for energy efficient electronic goods has boosted the demand for LED televisions. LED televisions offer reduction in size and offer high quality of video including High Definition. This has attracted a large base of consumers who were earlier using traditional CRT televisions. LED television manufacturers are currently focusing on the development of televisions with better viewing angles. This has given rise to the development of curved LED televisions, which offer superior viewing angles. These curved televisions incorporate HD resolution and other smart features. On the contrary, the price difference of LED television and traditional CRT television restricts the quick uptake of LED television primarily in the developing and emerging economies. Moreover, growing popularity of IPTV and increasing number of internet providers for television further hinders the 3D LED smart television market.
Among the geographic regions, Asia Pacific is leading global 3D LED smart television market in terms of sales revenue. The growth is primarily driven by countries such as Japan, China, Korea, and India. On the other hand, North America and Europe trail Asia-Pacific owing to a significant number of domestic manufacturers. The global 3D LED smart television market is highly fragmented in nature, and there exists intense competition among key players in the industry to offer innovative product features at efficient costs. In addition, the key market participants need to stay abreast with the rapidly changing technology across the globe.
Curved smart television and OLED televisions have evolved immensely and these are analyzed to find a large consumer base across the globe during the forecast period. Therefore, some of the key players in the global 3D LED smart television market are currently focusing on promoting and developing televisions in curved and OLED television segments. A few of the prominent industry participants in the global 3D LED HD smart television market include Panasonic Corporation, LG Corporation, Samsung Electronics, Sony Corporation, Koninklijke Philips N.V., Sharp Corporation, Toshiba Corporation, Vizio, Inc. and TCL Corporation among others.