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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. 

Discover 360° analysis of this market. For complete information, schedule your consultation- Book Here!

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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A-LIGN Issues First ISO 42001 Certification to Synthesia

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TAMPA, Fla., Sept. 25, 2024 /PRNewswire/ — A-LIGN, the leading provider in cybersecurity compliance, has issued its first unaccredited ISO/IEC 42001 certification to Synthesia, marking a groundbreaking achievement in artificial intelligence (AI) compliance.

The issuance of Synthesia’s ISO 42001 certificate highlights A-LIGN’s unwavering commitment to excellence and its role in empowering clients to achieve and maintain the highest levels of compliance in the ever-evolving AI landscape.

“AI is revolutionizing our world, driving change in both business operations and regulatory frameworks,” said Patrick Sullivan, VP of Strategy & Innovation at A-LIGN. “At A-LIGN, we are dedicated to innovation through services like ISO 42001, ensuring our clients receive the trusted quality they expect as the AI landscape evolves. This commitment enables industry leaders like Synthesia to leverage compliance as a strategic advantage.”

London-based Synthesia is the first AI video company to achieve ISO 42001 compliance. This certification sets a new benchmark in the industry, showcasing Synthesia and A-LIGN’s joint dedication to compliance innovation and high-quality security.

“Synthesia is committed to the responsible, transparent, and secure development of AI technologies, and achieving ISO 42001 certification through A-LIGN’s audit process demonstrates our dedication to these principles,” said Martin Tschammer, Head of Security at Synthesia. “A-LIGN’s expertise and attention to detail helped us identify and remediate any gaps in our rigorous processes. Together, we have led the way for the rest of the industry in the adoption of this standard, fostering trust and ensuring the long-term success of AI development and use.”

For more information about A-LIGN and ISO 42001 certification services, visit https://www.a-lign.com.

About A-LIGN
A-LIGN is the leading provider of high-quality, efficient cybersecurity compliance programs. Combining experienced auditors and audit management technology, A-LIGN provides the widest breadth and depth of services including SOC 2, ISO 27001, HITRUST, FedRAMP, and PCI. A-LIGN is the number one issuer of SOC 2 and a leading HITRUST and FedRAMP assessor. To learn more, visit a-lign.com.

About Synthesia
Synthesia is the world’s leading enterprise AI video communications platform. More than 55,000 businesses, including half of the Fortune 100, use it to communicate efficiently and share knowledge at scale using AI avatars. Founded in 2017, Synthesia is headquartered in London and makes video creation, collaboration and sharing easy for everyone. Learn more at https://synthesia.io/.

Media Contact: Abigail Rodrigues, abigail.rodrigues@a-lign.com

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Vanderbilt University School of Medicine Basic Sciences Adds Carterra’s LSAXT Instrument to Speed Drug and Vaccine Research and Advance Patient Care

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The Center for Structural Biology in the School of Medicine Basic Sciences will be a hub of research innovation using Carterra’s platform in traditional and AI-driven workflows for characterizing both antibodies and other biomolecules

SALT LAKE CITY and NASHVILLE, Tenn. , Sept. 25, 2024 /PRNewswire/ — Carterra® Inc., the world leader in innovative technologies enabling high-throughput biology, and the Vanderbilt University School of Medicine Basic Sciences announced today the addition of the Carterra LSAXT label-free interaction analysis platform to the Center for Structural Biology (CSB). Vanderbilt and Vanderbilt University Medical Center researchers will be able to discover and characterize large molecules including antibodies.

“Many of our researchers are trying to identify antibodies that bind to a protein involved in health or disease,” said Borden Lacy, director of the CSB and Edward and Nancy Fody Chair in Pathology and professor of biochemistry and pathology, microbiology and immunology. “The ability to rapidly screen and quantify binding for large libraries of antibodies will shape the way molecular discovery moves forward at Vanderbilt. The work we spend months on will now be completed in a matter of days. It is incredibly exciting.” 

Carterra’s LSA platform was used by pharmaceutical giant Eli Lilly during the COVID-19 pandemic to find antibodies effective against SARS-CoV-2. Within 90 days of isolating antibodies from an early COVID-19 survivor, Lilly was in clinical trials with the world’s first COVID-19 therapeutic, the antibody Bamlanivimab.

BAM, as it became known, is the fastest drug ever discovered and saved countless lives.  The publication in Science describing the feat concluded, “The resulting speed at which this drug discovery and development effort progressed…is a testament to the advanced discovery and characterization platforms.”

Vanderbilt investigators will now be able to leverage the Carterra platform for a variety of research aims. 

Two projects that are getting early traction include:

Stephanie Wankwicz, assistant professor of molecular physiology and biophysics and a faculty affiliate of the Center for Applied AI in Protein Dynamics, is elucidating the role of entropy in substrate specificity and catalysis.  Wankowicz is planning to use Carterra’s platform to more quickly and efficiently analyze a large panel of peptide sequence variants against a kinase. Older methods are very low throughput and would require high concentrations of the protein/peptide solution.

Brian Wadzinski, associate professor of pharmacology, recently submitted a grant application to characterize pan- and phosphor-specific nanobodies for investigating MAPK and PP2A signalling. Affinity measurements for these large panels of nanobodies and high-resolution epitope binning can only be performed on Carterra’s platform.

The LSAXT instrument includes hardware and software features that build upon the capabilities of Carterra’s original and highly successful LSA instrument while maintaining its impressive throughput and sample efficiency. The LSA platform delivers 100 times the data in 10 percent of the time-to-answer and uses only 1 percent of the sample required by other label-free platforms.

Just last year, Vanderbilt launched the Center for Applied AI in Protein Dynamics which will also benefit from the addition of Carterra’s platform.  The LSA® is the only label-free biosensor that can generate enough data, quickly and efficiently, to train algorithms and learning models used to predict the affinity and epitope coverage of drug candidates. Pharmaceutical and biotech companies who have now moved to AI-driven drug discovery workflows have standardized on the LSA.

Vanderbilt has always led its peers in research innovation,” commented Tim Germann, Chief Commercial Officer at Carterra. “To enable the use of AI in antibody discovery and characterization by adding the LSAXT to its stable of technologies cements Vanderbilt’s position as the academic leader in this rapidly evolving research landscape.”

Since its launch in 2018, Carterra’s interaction analysis platform has penetrated 19 of the largest 20 pharmaceutical companies, major universities and vaccine makers, contract research organizations (CROs), and biotechs on four continents. Characterizing binding kinetics and epitope coverage of large numbers of antibodies in early research has been transformative. The LSA platform has been profiled in multiple Science, Nature, and Cell peer-reviewed papers.

Media Contact:
Cheri Salazar, Sr. Marketing Manager
Carterra, Inc.
(408) 594-9400
Csalazar@carterra-bio.com 

About Carterra, Inc.
Carterra® is privately held and is the leading provider of high-throughput technologies designed to accelerate and improve the discovery of novel therapeutic candidates. Carterra’s LSA® instrument, software, and consumables for biotherapeutic discovery and characterization deliver up to 100 times the throughput of existing platforms in 10% of the time while using only 1% of the sample required by other systems. The LSA combines patented microfluidics technology with real-time high-throughput Surface Plasmon Resonance (HT-SPR) and industry-leading data analysis and visualization software to revolutionize mAb screening. The new LSAXT provides enhanced optics to enable additional applications in biotherapeutic discovery and characterization. Carterra, Inc. is based in Salt Lake City, Utah, and has Customer Experience Centers in San Francisco, Salt Lake City, Boston, Manchester, England, and Munich, Germany. Carterra products are available in Asia-Pacific and Oceania through our exclusive distributor, Revvity. For additional information, please visit www.carterra-bio.com.

About the Vanderbilt Center for Structural Biology
The Vanderbilt Center for Structural Biology promotes the broad use of structural biology approaches in all life science research and provides resources for education and training in state-of-the-art technologies. Uniquely, the CSB merges applications of high resolution structural biology disciplines, X-ray crystallography, NMR spectroscopy, cryo-electron microscopy and computational biology, with the biophysical instrumentation needed to characterize biomolecular interactions. This strategy allows researchers to solve fundamental structural problems in medicine and biology. The CSB facilitates collaborations with investigators across a range of Departments in both the College of Arts and Science, the School of Medicine Basic Sciences, and the School of Medicine in Vanderbilt University Medical Center. The CSB is directed by Borden Lacy, Edward and Nancy Fody Chair in Pathology and professor of biochemistry and pathology, microbiology and immunology.

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BMC Helping Customers Improve Lives and Customer Experiences in Healthcare, Financial Services and Energy Sectors

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NHS Northumbria patients, Nationwide Building Society members, and EDP customers benefit from the time- and cost-savings BMC delivers using data-driven insights and automation

HOUSTON, Sept. 25, 2024 /PRNewswire/ — BMC, a global leader in software solutions enabling business faster than humanly possible, has collaborated with European leaders in the healthcare, finance, and energy industries to optimize their IT and operational technology (OT) investments and realize the benefits of DataOps and ServiceOps for millions of their patients and customers.

NHS Northumbria, Nationwide Building Society, and Energias de Portugal (EDP) use the Control-M solution from BMC and the BMC Helix platform to gain data-driven insights instantly across complex hybrid IT environments, saving costs while drastically improving the speed and reliability at which they deliver value.

NHS Northumbria accelerates patient care with BMC Helix

Northumbria NHS Foundation Trust is among the largest healthcare organizations geographically in the U.K., with around 12,000 employees serving around 500,000 people in northeast England. Delivering a full range of health services across 10 main sites, including an emergency care hospital, general and community hospitals, and other facilities, the Trust seeks to improve patient outcomes and relieve pressure on its people and processes.

Using BMC Helix to digitize its end-user experience, NHS Northumbria has achieved:

90% paperless SLA improvement400% increase in Digital Workplace platform adoptionSignificant ROI within the first three yearsImproved patient processing times, real-time decisions, and secure authorizations from any device

“To achieve big things, you must develop the ability to get small things right, too. In our team, we ensure that excellence in everything is not an exception. It’s more of an attitude, and BMC shares those values,” said Glen Foster, Deputy Director for Service Delivery, Performance and Governance, Northumbria Healthcare NHS Foundation Trust. “We’ve already improved care levels—now we aim to build out trust rating beyond outstanding and see what digital transformation can deliver.”

Nationwide Building Society meets high financial standards with BMC Helix Capacity Optimization

Based in the U.K., Nationwide is the world’s largest building society, with 16 million members. Nationwide decided to upgrade from its custom on-premises system to a cloud solution that could handle the organization’s complex IT estate, and selected the BMC Helix Capacity Optimization solution, which delivers robust forecasting, modeling, and extrapolation functionalities that made it stand out.

With the BMC Helix Capacity Optimization solution, Nationwide has:

Met regulatory requirements 6 months ahead of scheduleEnabled three months advanced notice for potential capacity issuesReduced requests forwarded to ITOps by 94%

“If we want to stand by the decisions we’re making, we’ve got to trust the data. Now, the data is in BMC Helix Capacity Optimization, so the system can consolidate and highlight what’s pertinent. Getting to this point was critical,” said Peter Norris, Process Owner for IT Service Demand and Capacity Management at Nationwide.

EDP powers the energy market with Control-M

As a global company, EDP relies on a wide range of business services to drive innovation and provide support to customers worldwide, including energy production, distribution, and management. To simplify, automate, and standardize the production of millions of invoices per day and ensure that accurate invoices were created, printed, and shipped on time, every time, EDP chose Control-M, the market-leading application and data workflow orchestration platform from BMC.

With this solution, EDP has:

Serviced nine million customersExperienced a 46% reduction in application workflow execution incidentsReduced requests forwarded to ITOps by 36%

“Control-M runs hundreds of applications and covers nearly all of our business in EDP. If anyone from the Application Teams or Process Architecture Teams comes to us with an integration request or other challenge, Control-M can always offer a solution,” said Carlos Miguel Pereira, Head of Scheduling Platform and Operations Management at EDP.

Additional resources

Learn more about BMC customers here

About BMC

BMC empowers 86% of the Forbes Global 50 to accelerate business value faster than humanly possible. Our industry-leading portfolio unlocks human and machine potential to drive business growth, innovation, and sustainable success. BMC does this in a simple and optimized way by connecting people, systems, and data that power the world’s largest organizations so they can seize a competitive advantage.

BMC, BMC Software, the BMC logo, and other BMC marks are the exclusive properties of BMC Software, Inc. and are registered or may be registered with the U.S. Patent and Trademark Office or in other countries. 

©Copyright 2024 BMC Software, Inc.
www.bmc.com

Editorial Contact
Madeline Bien
BMC
ExtComms@bmc.com

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