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Smart TV Market size is set to grow by USD 69.33 billion from 2023-2027, Technological advances in TV resolution to boost the market growth, Technavio

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NEW YORK, July 17, 2024 /PRNewswire/ — The global smart tv market size is estimated to grow by USD 69.33 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of over 10.81% during the forecast period. Technological advances in TV resolution is driving market growth, with a trend towards growing influence of digital media on smart tv advertising and marketing. However, security and privacy concerns related to smart TV poses a challenge. Key market players include Apple Inc., BBK Electronics Corp Ltd, Haier Smart Home Co. Ltd., Hisense International Co. Ltd., Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, MIRC Electronics Ltd., Panasonic Holdings Corp., Roku Inc., Samsung Electronics Co. Ltd., Sharp Corp., Skyworth Group Ltd, Sony Group Corp., TCL Electronics Holdings Ltd, TOSHIBA CORP, Videocon Industries Ltd., VIZIO Holding Corp, Westinghouse Electric Corp., and Xiaomi Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2023-2027

Base Year

2022

Historic Data

2017 – 2021

Segment Covered

Distribution Channel (Offline and Online), Type (Below 32 Inches, 32 to 45 Inches, 46 to 55 Inches, 56 to 65 Inches, and Above 65 Inches), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)

Region Covered

APAC, Europe, North America, South America, and Middle East and Africa

Key companies profiled

Apple Inc., BBK Electronics Corp Ltd, Haier Smart Home Co. Ltd., Hisense International Co. Ltd. , Koninklijke Philips NV, LG Electronics Inc., Logitech International SA, MIRC Electronics Ltd., Panasonic Holdings Corp., Roku Inc., Samsung Electronics Co. Ltd., Sharp Corp., Skyworth Group Ltd, Sony Group Corp., TCL Electronics Holdings Ltd, TOSHIBA CORP, Videocon Industries Ltd., VIZIO Holding Corp, Westinghouse Electric Corp., and Xiaomi Inc.

 

Key Market Trends Fueling Growth

The smart TV market has witnessed significant growth in the use of digital media for advertising and marketing. Vendors, such as LG, invest in social media campaigns in developed markets for product promotions and wider reach. Digital media provides deep data insights and specific attribution to a larger customer base. In the MENA region, LG Smart TV advertising uses device-level insights and user data for improved viewing experiences and effective, non-intrusive advertising. Micro-influencers, with followings of 2,000-50,000, focus on niches and have considerable influence on streaming services and micro-blogging platforms. Samsung, among others, uses digital tools, like AI, sentiment analysis, and predictive alerts, to analyze social media trends regarding their smart TV offerings. The influence of digital media on smart TV advertising and marketing is expected to boost market growth. 

The Smart TV market is experiencing significant growth, driven by the increasing popularity of Over-the-top (OTT) services and content creators. OTT platforms and streaming services are revolutionizing TV viewing, offering consumers access to a vast content library at affordable prices. Smart TVs, with their operating systems, voice command, screen mirroring/sharing, and video calling features, are becoming the preferred choice for consumers. Movie producers and movie theaters are also jumping on the bandwagon, recognizing the potential of internet video streaming. The market is widening, with entry-level smart TVs offering high-definition picture quality and immersive viewing experience at affordable prices. High-end smart TVs boast of larger screen sizes, 8K TV segment, Dolby Atmos sound, and high-dynamic range (HDR) for a theater-like experience. Display panels, parts, and prices are becoming more competitive, making it an attractive entry barrier for new players. Consumers are looking for detailed image resolution, screen size-to-price value, and EMIs to enjoy their favorite content. Home theaters, viewing angle, and Dolby Atmos sound are key considerations for those seeking a cinematic experience. With the rise of affordable products and the increasing importance of internet bandwidth, the market is set to grow further. 

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Market Challenges

Smart TVs, with their internet connectivity and pre-installed social media applications, present significant privacy and security challenges for vendors in the global market. In 2017, Vizio paid a USD2.2 million settlement for collecting and selling user data without consent, raising concerns about privacy breaches. Malware attacks are another risk, as external devices connected to smart TVs can be susceptible to unauthorized access and file modification. A recent report revealed that Netflix receives user data from all smart TV companies and streaming services without notification. These issues may hinder the adoption of smart TVs due to privacy and security concerns.The smart TV market faces several challenges. High-end smart TVs with advanced features like 8K resolution, Dolby Atmos sound, and high-dynamic range (HDR) demand high prices, limiting wider market penetration. Entry barriers include expensive display panels, parts, and internet bandwidth requirements. The 8K TV segment and theater-like viewing experience with Dolby Atmos sound and HDR are driving consumer demand. However, the price difference between large-screen television sets and home theaters is a concern for buyers with limited spending capacity. New market entrants face installation costs, screen shape considerations, and the need for a content library with immersive viewing experiences. Consummers seek detailed image resolution, full HD, and EMIs for affordable monthly payments. The screen size-to-price value ratio and existing content streaming platforms also impact market dynamics. Overall, providing a premium feel with theater-like viewing experiences at affordable prices is crucial for success in the smart TV market.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This smart tv market report extensively covers market segmentation by

Distribution Channel1.1 Offline1.2 OnlineType 2.1 Below 32 Inches2.2 32 to 45 Inches2.3 46 to 55 Inches2.4 56 to 65 Inches2.5 Above 65 InchesGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Offline- The Smart TV market encompasses both online and offline distribution channels. Offline sales include consumer electronics stores, hypermarkets, supermarkets, and specialty retailers. Despite the growth of online sales, offline channels remain dominant due to consumer preference for in-store experience. Rapid internet penetration and the rise of OTT streaming services in the US, India, and China have fueled demand for high-end smart TVs. Vendors like Apple, LG, Philips, and Samsung follow uniform pricing policies, reducing price disparities between channels. Offline retailers such as SPAR International, Walmart, Target, and ALDI stock smart TVs, while vendors like LG, Samsung, and Toshiba have extensive global distribution networks. Consumers continue to rely on offline stores for product demos and personalized shopping experiences. Moderate growth is expected for the offline segment during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2023-2027) and historic data (2017 – 2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global television market continues to expand driven by technological advancements and rising consumer demand for enhanced viewing experiences. Key trends include the shift towards smart TVs, integration of streaming services, and increasing adoption of OLED and QLED technologies for superior picture quality. The global 4K TV market is witnessing robust growth with higher resolutions becoming the new standard. Consumers are increasingly opting for 4K TVs due to their sharper image quality and immersive viewing experience. Market growth is also fueled by declining prices, broader content availability in 4K resolution, and advancements in display technologies like HDR (High Dynamic Range).

Research Analysis

The Smart TV market is experiencing significant growth with the increasing popularity of Over-the-top (OTT) services and streaming platforms. Consumers are now able to access a vast array of TV content from creators directly on their Smart TVs, enhancing their viewing experience. Smart TVs offer features such as voice command, screen mirroring/sharing, and video calling, making them a versatile addition to modern homes. Movie producers and movie theaters are also embracing this technology, providing high-dynamic range (HDR) content for a theater-like viewing experience. The screen size-to-price value ratio of large-screen television sets is becoming increasingly attractive, making them an affordable luxury for many buyers. High-definition picture quality, screen size dynamics, and Dolby Atmos sound are just a few of the features that make Smart TVs a desirable purchase for consumers. Price differences and discount offers are also driving sales, making it an exciting time for those in the market for a new television set. With full HD and high-definition picture quality, consumers can enjoy their favorite content with stunning clarity and detail. The ability to easily connect and share content from other devices, as well as make video calls, adds to the convenience and functionality of Smart TVs.

Market Research Overview

The Smart TV market is witnessing significant growth with the rise of Over-the-top (OTT) services and TV content creators. OTT platforms and streaming services are revolutionizing the way we consume content on our Smart TVs. Smart TVs, with their internet video streaming capabilities, offer an immersive viewing experience with high-definition picture quality and Dolby Atmos sound. Affordable entry-level smart TVs with screen sizes ranging from small to big are making this technology accessible to a wider market. Key features of Smart TVs include voice command, screen mirroring/sharing, and video calling. Movie producers and movie theaters are also embracing this technology, offering consumers theater-like viewing experiences. High-end smart TVs boast of 8K resolution, Dolby Atmos sound, and high-dynamic range (HDR), providing a detailed image resolution of 33 million pixels. The market is becoming more competitive with new market entrants, price differences, and discount offers. Consumers with varying spending capacities can choose from a wide range of products, including affordable entry-level TVs and premium high-end TVs. The market also offers educational applications, home theaters, and large-screen television sets with added depth experience. Factors like product price, display panels, parts, and internet bandwidth are important considerations for consumers. Installation, mounting, and cost are also essential factors, especially for larger screen sizes. Overall, the Smart TV market offers consumers a premium feel and a wider market with lower entry barriers.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Distribution ChannelOfflineOnlineTypeBelow 32 Inches32 To 45 Inches46 To 55 Inches56 To 65 InchesAbove 65 InchesGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

DreamSmart Held AI Ecosystem Launch Event to Unveil Its Full Range of Products

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BEIJING, Sept. 25, 2024 /CNW/ — On September 25, 2024, the DreamSmart AI Ecosystem Launch Event was held in Beijing. DreamSmart released a number of new technology products, including Meizu Lucky 08 AI smart phone, AR smart glasses StarV View, StarV Air 2, smart ring StarV Ring 2, Z10 STARBUFF customized e-sports car jointly created by DreamSmart and Lynk & Co, etc.

DreamSmart has developed an ecological layout in which the two major product series brands, namely Star and Meizu, are parallel, and the three product categories, namely smart phones, smart glasses and smart cars, are developing together.

Meizu Lucky 08 comes in two colors, namely starshine white and meteorite black, with a 6.78-inch 8T LTPO 144Hz 1.5K screen. Equipped with a second-generation Snapdragon 7s mobile platform, a 6000mAh battery, and a 100-million-pixel ultra-clear main camera with an ultra-wide field of view, Meizu Lucky 08 adopts new star rail technology aesthetics to create a unique sense of spatial hierarchy. In addition, Meizu Lucky 08 is specially equipped with a multi-functional AI button supporting more than 100 flagship AI technologies.

Optical waveguide display solution is adopted for StarV Air2 AR smart glasses, which weigh only 44 grams. Equipped with the self-developed StarVision system and a 0.15cc ultra-small single green light engine, StarV Air 2 AR smart glasses support real-time dialogue translation based on AI, flash memory based on AI, AI voice assistant, AR navigation and other functions.

Another StarV View AR glasses equipped with a “high-definition giant screen” use BirdBath technology to create a giant screen experience equivalent to a 188-inch screen effect from 6 meters away. To meet the needs of myopia users, StarV View supports 0-600 degree myopia regulation for the left and right eyes respectively, without the need to install myopia lenses.

StarV Ring 2, a two-in-one smart ring, supports non-invasive blood glucose trend detection and touch interaction in an innovative manner, supports sleep stress monitoring, body temperature trend and blood oxygen monitoring, exercise heart rate monitoring and other functions, as well as realizes multi-device control and operation interconnection. Users can easily use the ring to control StarV Air 2 glasses and smart phones.

As the first customized e-sports car jointly created by DreamSmart and Lynk & Co, Z10 STARBUFF is deeply customized for e-sports fans. It is equipped with the world’s first Flyme Auto high-energy e-sports entertainment cockpit which has a gaming function comparable to that of a PC, as well as a number of hardcore devices including ECARX Makalu Computing Platform, AMD V2000A desktop chip, AMD RX6600M discrete graphics card, water-cooled heat dissipation, Samsung OLED automotive grade high-refresh screen, 1TB solid-state drive and 5G high-speed in-vehicle network. The cockpit layout is also customizable for e-sports users, and it is equipped with Harman Kardon 23-speaker luxury audio for a more immersive in-cabin audio experience.

As presented at the DreamSmart AI Ecosystem Launch Event, Flyme AIOS has deeply integrated AI into all levels of the operating system, providing users with a total of more than 100 AI functions. AI smart phones have been widely recognized by users; XR smart glasses have accompanied users to travel to more than 30 countries and regions, with the “multilingual AI translation” function being used for more than 100,000 hours; Flyme Auto smart cockpit operating system serves nearly 200,000 car owners; and Flyme Auto open platform has supported 14 car models, and is about to support more automotive brands.

At the launch event, Su Jing, CEO of DreamSmart, and Liao Qinghong, COO of DreamSmart, invited partner representatives and user representatives to the stage to jointly light up Sphere, the world’s largest spherical immersive venue in Las Vegas. DreamSmart showed the world its strong scientific and technological strength and broad development prospects.

DreamSmart is a global technology company with a business footprint that has expanded from the Chinese market to overseas regions including Eastern Europe, the Middle East, Southeast Asia and Latin America. In the future, DreamSmart will work with a number of partners to jointly build a global intelligent travel technology ecosystem, providing users with multi-terminal, full-scenario, and immersive integration experiences.

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SOURCE DreamSmart

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Sucden Financial Appoints Head of Exchange-Traded Derivatives

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LONDON, Sept. 25, 2024 /PRNewswire/ — Sucden Financial, the multi-asset execution, clearing and liquidity provider, has appointed Rob Noyce as Head of Exchange-Traded Derivatives.

Rob has spent the past 20 years at major global financial institutions, including UBS, Citigroup, and Barclays Capital, focusing on listed derivatives and electronic execution. He will lead Sucden Financial’s non-LME exchange-traded business, with a particular focus on growth and adding value for clients through technology, innovation and electronification.

Before joining Sucden Financial, Rob spent over five years as Director of EMEA Electronic Execution Sales for Listed Derivatives at UBS, where he was responsible for new business and monetisation of existing futures and options e-execution clients. Prior roles include Head of Futures E-Trading Sales and Relationship Management at Citigroup Global Markets, Vice President of Futures E-Sales at Barclays Capital and EMEA Derivatives and FX Sales Director at Bloomberg Tradebook Europe. 

Marc Bailey, CEO of Sucden Financial, said:

“Rob has an excellent track record of implementing technological change and driving business growth at some very large financial institutions. We’re delighted to welcome him to the Sucden Financial team. Rob will play an important role in driving innovation, continuing to grow our business and providing clients with an enhanced service.”

Rob Noyce as Head of Exchange-Traded Derivatives, Sucden Financial, commented:

“I am delighted to have joined Sucden Financial, which has a strong background in the ETD space. I believe there is a significant opportunity to grow the listed derivatives business and increase efficiency by focusing on technology, innovation and electronification.”   

About Sucden Financial

With a history and heritage in commodity futures and options trading, Sucden Financial has evolved and diversified to become a leading global multi-asset execution, clearing and liquidity provider across FX, fixed income, and commodities.

Sucden Financial has a proven track record of over 50 years in financial markets. Since its foundation in 1973, it has been supported by its parent, Sucden, one of the world’s leading soft commodity trading groups, while remaining fully independent in its day-to-day trading operations.

Sucden Financial Limited is authorised and regulated by the Financial Conduct Authority.

sucdenfinancial.com

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Baseus Creates Sound That Moves You with the New Bowie 30 Max Noise Cancelling Headphones

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NEW YORK, Sept. 25, 2024 /PRNewswire/ — As a global leader in the consumer electronics industry, Baseus has always been passionate about creating minimalist products that are easy to use and prioritize the user’s needs. To add to this extensive and innovative range of products, Baseus is excited to unveil the latest Bowie 30 Max Noise Cancelling Headphones. These incredible head-tracking spatial audio headphones provide excellent sound quality and immersive noise canceling – making them the ideal companion when traveling, exercising, or doing outdoor activities.

The Baseus Bowie 30 Max Noise Cancelling Headphones also come highly recommended by GRAMMY and EMMY award winners to ensure a level of sound engineering worthy of those accolades. Let’s explore some of the key features of these pioneering headphones:

Head-Tracking Spatial Audio Technology: The Baseus Bowie 30 Max Noise Cancelling Headphones use innovative head-tracking spatial audio technology with built-in gyroscopes and accelerometers. These work together to ensure smooth and accurate tracking of head movements to give users a truly immersive and lifelike sound experience with cinematic 3D audio.

-45dB Active Noise Canceling: Enjoy undisrupted entertainment with -45dB Active Noise Canceling that blocks out 96% of external sound. Baseus Bowie 30 Max Noise Cancelling Headphones also come with built-in dual Active Noise Canceling microphones that use digital noise cancellation technology to detect and cancel out a wide range of low and mid-frequency noises – such as cars, airplane engines, and other background sounds. Soft earmuffs also provide a greater sound seal and build a comfortable, immersive, and private space for your listening.

Hi-Res Audio Wireless/Wired Certified: The Baseus Bowie 30 Max Noise Cancelling Headphones ensure superior audio resolution that goes beyond your imagination. The use of LDAC technology in the headphones enables the transmission of audio content at the maximum bitrate of 990kbps – even over Bluetooth. This includes high-resolution audio and increases audio detail up to 3 times when compared to average audio designs.

50mm SuperBass Drivers: Feel a 200% bass increase with the 50mm SuperBass drivers inside your Baseus Bowie 30 Max Noise Cancelling Headphones. With extensive research on user listening habits, Baseus has taken to using the latest SuperBass acoustic algorithms to amplify sound excellence. The technology seamlessly upgrades every frequency within the human audible range without compromising sound quality – ultimately boosting the bass experience by up to 200% and creating an immersive audio experience like no other.

65-Hour Battery Life and Baseus Rapid Charge: Enjoy your superior sound with a 65-hour long battery life from your Baseus Bowie 30 Max Noise Cancelling Headphones. The extended battery life ensures that your headphones adapt to use on long journeys, outdoor treks, and other time-consuming activities. Baseus understands the frustration of a low battery on a long trip, so we’ve also ensured that your Bowie 30 headphones give you 14 hours of playtime with a quick 10-minute charge – giving you less time to wait and more time to play.

Foldable and Compact Design: The Baseus Bowie 30 Max Noise Cancelling Headphones are designed for efficiency and portability. The compact, foldable, and 120° rotatable earcups make the headphones ideal for storage and traveling while the unique and customizable headband ensures a comfortable fit with soft ear cushions to give you easier extended wear. The Bowie 30 max headphones also use a monaural fold design to ensure lightweight and functional ease.

Baseus is dedicated to providing enhanced and innovative products that entertain users while ensuring peak comfort, immersive sound, and amplified audio engineering. At Baseus, boundaries are always being pushed to create a simpler and more convenient lifestyle for users. The Baseus Bowie 30 Max Noise Cancelling Headphones are a clear example of – and step towards – technology that redefines sound excellence as something seamless, affordable, and inherent in every Baseus product.

Availability:

The Baseus Bowie 30 Max ANC Headphones will launch an Early Bird event on the Baseus website starting September 25th at an MSRP of $99.99.

From September 25th to October 1st, the headphones will be available at a special price of $51.99, followed by a price of $55.99 from October 2nd to October 7th.

They will be available on Amazon.com starting October 8th, and on Amazon UK and Europe from October 15th.

About Baseus

Founded in 2011, Baseus was born out of utmost care for users. The company embodies its slogan: Practical. Reliable. Base on User. This shows the pursuit of ultimate practicality to solve users’ problems with outstanding design and fashionable appearances that also reflect reliability, high quality, and cost-effectiveness. Baseus delivers a variety of products – including Portable Chargers, Desktop Chargers, Wall Chargers, Wireless Earbuds, and Docking Stations. Chosen by 300 million users and providing 6 billion services, Baseus delivers over 100 million practical and aesthetic products each year, continuously enhancing users’ sense of fulfillment. Join the Baseus family today to see a new world of technological innovation.

Media Contact:
Name: Baseus PR Team
Phone: +1 (213) 512-7063
Email: pr@baseus.com
Baseus Technology (HK) Co., Ltd

 

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SOURCE Baseus Technology (HK) Co., Ltd

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