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Smart TV Market to Reach $497.3 Billion, Globally, by 2033 at 9.5% CAGR: Allied Market Research

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WILMINGTON, Del. , Aug. 30, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Smart TV Market by Resolution Type (8K TV, HDTV, FULL HDTV, and 4K UHD TV), Screen Type (Curved Screen and Flat Screen), Application (Commercial and Household), Panel Type (Liquid Crystal Display (LCD), Light Emitting Diode (LED) , Organic Light Emitting Diode (OLED) , Quantum Dot Light Emitting Diode (QLED)), Platform (Android, Roku, WebOS, MyHomeScreen, Tizen OS, and IOS) and Distribution Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2023-2033″. According to the report, the smart TV market was valued at $202.8 billion in 2023, and is estimated to reach $497.3 billion by 2033, growing at a CAGR of 9.5% from 2024 to 2033.

Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/A06562

Prime determinants of growth 

The market for smart TVs is expected to grow mostly driven by technological developments, such as the incorporation of voice recognition and artificial intelligence (AI) to improve user experience and convenience. The expansion of streaming services and the rising demand for high-definition content have both accelerated industry growth. The growth is aided by a rise in disposable incomes and shift in customer preferences for smart home ecosystems. Manufacturers’ extensive feature offerings and competitive prices attract more customers. In addition, expanding the internet and enhanced broadband access make smart TVs more desirable by enabling smooth streaming and smart features. Finally, significant development potential is created by the digitalization trend and smart gadgets in developing economies.

Report coverage & details:

Report Coverage  

Details  

Forecast Period  

2024–2033 

Base Year  

2023

Market Size in 2023  

$202.8 billion 

Market Size in 2033 

$497.3 billion 

CAGR  

9.5 %

No. of Pages in Report 

250

Segments Covered  

Operating System, Resolution, Screen Size, Screen Shape, Distribution Channel, Technology, and Region. 

Drivers 

 

Technological Advancements Consumer Demand for Convenience Content Accessibility

Opportunities  

 

Emerging Markets Enhanced Connectivity

Restraints 

 

High Initial Costs Privacy and Security Concerns

Procure Complete Report (250 Pages PDF with Insights, Charts, Tables, and Figures): 
https://tinyurl.com/5fvz46pd

Segment Highlights

Since Full HD TV strikes a balance between quality and price, it maintains a substantial market share in the smart TV industry. With their 1920 x 1080-pixel resolution, full HD TVs are more popular among consumers who want better picture quality without having to pay the higher price of 4K TVs. They offer a better viewing experience than ordinary HD versions. Their popularity is further increased by incorporating clever features like internet connectivity and access to streaming services. Owing to this, full HD smart TVs continue to be a competitive option for consumers on a limited budget who want good performance and new features.

The increased demand from consumers for advanced features such as 4K resolution, HDR support, and integrated streaming services has created a highly competitive market for 46- to 55-inch smart TVs. Leading companies such as Samsung, LG, Sony, and TCL are always coming up with new ideas to provide better picture quality, improved user interfaces, and seamless networking possibilities. Customers looking for a balance between screen size and price are catered to by this market, which makes it a popular option for both home and office use. This market is expected to grow due to the rapid advancements in technology, especially with the increasing popularity of AI capabilities and smart home integration.

The market for smart TVs, especially flat TVs, is expanding significantly due to rising customer demand for better viewing experiences and technological improvements. These TVs include built-in internet connectivity, so you can browse the web, use apps, and access streaming services right from the screen. Leading companies in the industry, such as Samsung, LG, and Sony, have introduced new features like voice control, 4K and 8K resolution, and high dynamic range. This trend is accelerated by a shift toward bigger screens and better picture quality, which positions smart flat TVs as the focal point of home entertainment and smart home integration.

Regional Outlook

Technological developments and growing customer desire for integrated entertainment systems are driving the robust expansion of the smart TV market across many countries. The demand for sophisticated home entertainment and strong disposable incomes in North America drive industry growth. Europe follows suit, with notable expansion in nations where the use of smart homes is common, such as Germany and the UK. Owing to rapid urbanization, a growing middle class, and increased internet penetration, the Asia-Pacific region especially China and India are experiencing the fastest development. A slower rate of growth is also observed in Latin America, the Middle East, and Africa, which is attributed to improving economic conditions and a wider range of reasonably priced smart TV models. 

Want to Access the Statistical Data and Graphs, Key Players’ Strategies:  
https://www.alliedmarketresearch.com/purchase-enquiry/A06562

Players: –

Haier Inc.Intex TechnologiesKoninklijke Philips N.V.LG ElectronicsPanasonic CorporationSamsung Electronics Co. LtdSansui Electric Co. LtdSony CorporationTCL Electronics Holdings LimitedToshiba SolutionsHisense International

The report provides a detailed analysis of these key players in the global smart TV market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Recent Developments:

In April 2022, the Neo QLED 8K smart TV line was introduced by Samsung Electronics Co. Ltd. Televisions with 65- and 85-inch screens were part of this launch. Additionally, Samsung Electronics Co. Ltd. organizes promotions that allow customers to buy TVs for less money, thus boosting demand for its products.In July 2022, the first 24 GHz GDDR6 DRAM in the industry was introduced by Samsung Electronics to power next-generation high-end graphics cards in smart TVs.

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Wearable Technology Market Opportunity Analysis and Industry Forecast, 2020-2031Water purifier Market Opportunity Analysis and Industry Forecast, 2020-2031Smart Toys Market Opportunity Analysis and Industry Forecast, 2024-2033Wellness Water Market Opportunity Analysis and Industry Forecast, 2024-2033Dehumidifier Market Opportunity Analysis and Industry Forecast, 2023-2032Electronic Cigarette Market Opportunity Analysis and Industry Forecast, 2022-2031Household Appliances Market Opportunity Analysis and Industry Forecast, 2024-2035Air Fryer Market Opportunity Analysis and Industry Forecast, 2023-2032Cigarette Vending Machine Market Opportunity Analysis and Industry Forecast, 2021-2031Smartphone Photo Printers Market Opportunity Analysis and Industry Forecast, 2023-2032

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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SOURCE Allied Market Research

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G42 Collaborates with NVIDIA to Deliver Next-Generation Climate Solutions Using Earth-2

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ABU DHABI, UAE, Sept. 20, 2024 /PRNewswire/ — G42, a leader in AI and cloud computing, today announced that it is partnering with NVIDIA to advance climate technology with a focus on developing AI solutions aimed at dramatically enhancing the accuracy of weather forecasting globally.

The collaboration builds on NVIDIA’s Earth-2, an open platform that accelerates climate and weather predictions with interactive, AI-augmented, high-resolution simulation. G42 and NVIDIA will initially focus on a square-kilometer resolution weather forecasting model that improves the accuracy of meteorological predictions.

Key to this initiative is the establishment of a new operational base and Climate Tech Lab in Abu Dhabi. This state-of-the-art facility will serve as a hub for research and development, driving forward both companies’ commitment to environmental sustainability. This facility will also mobilize the creation of tailored climate and weather solutions that leverage over 100 petabytes of geophysical data assets.

Peng Xiao, Group CEO of G42, said, “This initiative with NVIDIA is a testament to our commitment to applying AI in ways that not only innovate but also solve critical global challenges. Establishing the Earth-2 Climate Tech Lab in Abu Dhabi allows us to leverage our unique capabilities and insights to foster a sustainable future for the world.”

In addition to fostering innovation in climate technology, the initiative will focus on building a robust framework for integrating enhanced weather prediction capabilities with comprehensive data metrics and visualization. This will assist organizations worldwide in achieving their sustainability goals through well-informed, data-driven environmental strategies.

“Our collaboration with G42 marks a pivotal step toward harnessing AI to understand and predict climate phenomena with unprecedented accuracy,” said Jensen Huang, founder and CEO of NVIDIA. “The Earth-2 Climate Tech Lab will propel environmental solutions using the most advanced accelerated computing and AI technology to benefit millions of people around the world.”

By uniting G42’s AI expertise with NVIDIA’s computational acumen, this partnership aims to deliver transformative climate solutions that combine scientific accuracy with real-world applicability, driving impactful change across industries and ecosystems.

About G42

G42 is a technology holding group, a global leader in creating visionary artificial intelligence for a better tomorrow. Born in Abu Dhabi and operating worldwide, G42 champions AI as a powerful force for good across industries. From molecular biology to space exploration and everything in between, G42 realizes exponential possibilities, today.
To know more visit www.g42.ai.

Media contacts
Media and PR Team, G42
media@g42.ai

View original content:https://www.prnewswire.co.uk/news-releases/g42-collaborates-with-nvidia-to-deliver-next-generation-climate-solutions-using-earth-2-302253818.html

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Kawasaki and CB&I Sign Strategic Collaborative Agreement for Promoting Commercial-Use Liquefied Hydrogen Supply Chain

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HOUSTON, Sept. 19, 2024 /PRNewswire/ — Kawasaki Heavy Industries, Ltd. (Kawasaki) and CB&I, a wholly owned unrestricted subsidiary of McDermott, announced today their signing of a strategic agreement for promoting a commercial-use liquefied hydrogen (LH2) supply chain and realizing a zero-carbon-emission society. The signing ceremony took place at Gastech Exhibition & Conference in Houston on September 18, 2024.

“We are very pleased for this opportunity to build and launch a commercial liquefied hydrogen supply chain in cooperation with CB&I,” said Motohiko Nishimura, President, Energy Solutions & Marine Engineering Company, Kawasaki Heavy Industries, Ltd. “By taking advantage of both companies’ strengths and specialized know-how, we aim to cost down hydrogen, strengthen hydrogen supply chain competitiveness, and accelerate the transition to a zero-carbon society.”

Both companies will use their specialized know-how to provide infrastructure that will enable commercial-scale international LH2 supply chains in order to help achieve carbon-neutrality. By leveraging our combined expertise to deliver large-scale LH2 infrastructure solutions, CB&I and Kawasaki are removing barriers, driving down costs and enhancing scalability across the entire supply chain.

“This strategic partnership represents a significant advancement in liquid hydrogen storage capabilities,” said Mark Butts, Senior Vice President of CB&I. “Our technical expertise and extensive experience in liquid hydrogen storage position us at the forefront of the energy transition, delivering reliable storage solutions and executing projects worldwide with proven success.”

Under this agreement, the companies will provide infrastructure to advance the global realization of a sustainable energy economy and meet decarbonization targets. This collaboration will reduce LH2 infrastructure costs and contribute to more widespread use of this clean and efficient energy source.

About CB&I
CB&I is the world’s leading designer and builder of storage facilities, tanks, and terminals. With more than 60,000 structures completed throughout its 130-year history, CB&I has the global expertise and strategically located operations to provide its customers world-class storage solutions for even the most complex energy infrastructure projects. CB&I is a wholly owned unrestricted subsidiary of McDermott. To learn more, visit www.cbi.com.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott’s innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott’s locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

About Kawasaki Heavy Industries, Ltd.
Kawasaki Heavy Industries, Ltd. is general engineering manufacturer with over 125 years of experience manufacturing products spanning land, sea and air. Kawasaki established the Kawasaki Group’s new vision statement, “Group Vision 2030: Trustworthy Solutions for the Future,” and is focusing on three fields, “A Safe and Secure Remotely-Connected Society,” “Near-Future Mobility,” and “Energy and Environmental Solutions” in order to provide solutions for social issues. For “Energy and Environmental Solutions” in particular, by securing the technology necessary for the entire supply chain (for production, transportation, storage and utilization) ahead of the rest of the world, Kawasaki aims to bring about a society that utilizes hydrogen, the ultimate clean energy that emits no carbon dioxide when used. To learn more, visit https://global.kawasaki.com/en.

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected benefits from the collaboration agreement discussed in this press release.  Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott’s management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

For media inquiries, please use the contact information below:

Reba Reid
Global Media Relations
+1 281 588 5636
RReid@McDermott.com

Kristi Krupala-Grove
CB&I Media Relations
+1 346 313 9636
KKrupala2@mcdermott.com

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SOURCE McDermott International, Ltd

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Halal Route Application – Eat, Travel around Thailand, Safe and Sound Halal Style

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BANGKOK, Thailand, Sept. 20, 2024 /PRNewswire/ — The Halal Science Center, Chulalongkorn University has developed Halal Route, an application that lists restaurants, lodging, mosques, prayer directions, and tourist attractions in Thailand under Islamic tourism principles. It hopes to help Muslim tourists travel in Thailand with peace of mind, and supports tourism industry operators to grow and welcome a growing number of Muslim tourists.

The Tourism Authority of Thailand (TAT) predicts that in 2024 there will be around 168 million Islamic tourists worldwide.  According to the Mastercard-Crescent Rating Global Muslim Travel Index (GMTI 2024), Thailand is the 32nd most popular destination for Muslim tourists.  However, the major problem Muslim tourists encounter in Thailand is finding Halal-accredited restaurants, hotels, accommodations, or tourist attractions with service areas (such as prayer rooms) that are compliant with the Islamic way.

Halal Route” is a travel aggregator app that collects searchable information on Halal restaurants, mosques, prayer locations, times, and directions for prayers (the qibla), tourist attractions, Muslim villages or communities, hotels, accommodations, etc.  This app is linked to Google Maps for navigation with precision. It also supports 3 languages, Thai, English, and Arabic, so that Muslim tourists can live and travel more comfortably and with peace of mind,” said Mr.Erfun Weahama, Science Service Officer, Halal Route App development team.

Dr. Anat Denyingyot, Assistant Director of the Halal Science Center, emphasized that the Halal Route application has the most reliable and comprehensive information on halal tourism in Thailand today. “All restaurants and locations have had on-site visits and are audited according to standards approved by a trusted authority or organization, such as certifications from religious organizations or halal food-related entities, as well as management systems to guarantee and be responsible for halal conditions (the HAL-Q system),” Dr. Anat assured.

Currently, the application has more than 1,100 restaurants in its database, and new locations and services are being updated, covering more than 40 provinces from north to south of Thailand that are popular among tourists.

Halal Route is not only for navigation, but a platform that connects Muslim communities from around the world who have the opportunity to visit Thailand,” Associate Professor Dr.Winai Dahlan, Director of the Halal Science Center concluded.

The Halal Route application is free to download on both iOS and Android systems.

Read the full article at https://www.chula.ac.th/en/highlight/185916/  

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SOURCE Chulalongkorn University

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