The Global Smart Television Market was valued at USD 246.56 million in 2021 and is expected to register a CAGR of 2.21% over the forecast period (2022 – 2027) – GlobeNewswire

New York, Sept. 27, 2022 (GLOBE NEWSWIRE) — Reportlinker. com announces the release of the report “Smart Television and Set-Top Box Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 — 2027)” :
The development of a wide range of STBs equipped with various features has made the competition fierce among set-top-box companies. Digital video recording is one of the most desired features, as it enables the viewers to watch and record their favorite shows.
– The deployment of OS-Based devices drives the market growth. The government regulations mandating the particular installation associated with set-top boxes, deployment of open OS-based devices by STB vendors, and analog switch-off transition in emerging countries are further driving the demand of the STB market.
– For instance, the Government of India has made STBs compulsory through an amendment to the Cable Television Networks (Regulation) Act. Set-top containers provide a better viewing experience because of digital signals plus help in preventing illegal channels from being broadcasted in Indian.
— The need for better picture resolution, in line with the increase in the sales associated with high-definition TVs, is also pushing the particular market for set-top boxes that deliver HD and UHD content. However, the Consumer Technology Association (CTA) projected that television shipments in the United States would drop by 8% to 43 mil units in 2021, according to its latest “Tech Styles to Watch” research.
– Key players that are significantly active in the Smart TV market include LG Electronics, Samsung, Xiaomi, Vu, TCL, Hisense, plus Sony. With the presence of various international brands such because Sony, Samsung, LG, Xiaomi, and many more, the Smart TELEVISION market is moderately consolidated, with more than 65% of the particular market share held by a few prominent businesses. These companies are making significant efforts in the Smart TV Markets to create the next big thing simply by engaging within partnerships and making frequent product developments.
: Further, according to Digital TV Europe Industry Survey 2021, about 35% from the respondents suggested that the particular set-top is an useful element inside the TV operator’s proposition but is not irreplaceable, while a further 36% take the view that it is only one option the TV operator must reach customers today and is no more valuable than any other. In addition , 10% of the respondents suggested that the box is central to the TV operator’s proposition plus is here to stay.
– Market incumbents have been adopting robust competitive strategies involving innovation, partner programs, and market expansion, amongst others. For instance, Technicolor adopts an operator program focusing on integration benefits to leveraging new operators.
— The COVID-19 outbreak led to lockdowns imposed by the particular government in order to curb the spread of the virus, which affected the supply chains of numerous telecom service providers. In September 2021, the particular Airtel DTH arm announced plans to stop imports associated with high-definition set-top boxes by the end of 2021 to tackle the COVID-19-induced supply chain disruption plus make locally-developed set-top containers. Tata Sky, Airtel’s major competitor, partnered with Technicolor for the domestic production of set-top boxes in India.

Key Market Trends
High Levels of Technological Innovations to Drive the Marketplace

– The particular adoption of artificial intelligence in set-top boxes offers been increasing as it helps in enhancing the picture quality associated with STB devices. In October 2021, SK Broadband introduced the launch of AI Sound Max. This set-top box combines the lasted artificial cleverness with the particular audio technology from the Danish luxury audio company Bang & Olufsen.
: AI technologies improves the voice functions for complex applications and assists with improving customer experience. There has been the particular introduction of new voice technologies to navigate content material.
– The Android set-top boxes come with many applications related to gaming, OTT platforms, and music. These heavy applications need a processor, which ensures smooth running, enhancing viewers’ engagement.
— There will be a strong demand for an Android TELEVISION set-top box, as this offers much better picture quality plus sound quality, along with access to streaming content. In August 2021, Sumitomo Electric announced that will its BS4K*1 set-top package powered by Android TV exceeded the cumulative domestic shipment associated with one million units in May 2021. According to the company, the sales were influenced by the pandemic.
– In October 2021, the Czech Republic-based media platform provider nangu. TELEVISION unveiled a new 4K UHD Android TV Operator Tier set-top container. The company partnered with Orange Slovensko, CommScope, and Viaccess Orca. It recently launched inside Slovakia plus gave Orange customers a live and on-demand loading entertainment encounter.

Asia Pacific to Hold Significant Market Share

: The Asia Pacific region is one of the prominent regions with regard to subscription video-on-demand (SVOD) subscribers. Based on the data published simply by Digital TELEVISION Research, the particular Asia-Pacific region is anticipated to have 698 mil SVOD subscriptions by 2026, up by almost 39% from 2021 levels, i. e., 502 million. Moreover, countries like China are expected to significantly contribute in order to SVOD subscribers, with 354 million subscriptions by 2026. Therefore , the rising SVOD subscriptions plus the growing inclination toward large-screen displays are anticipated to propel the particular market’s development over the forecast period.
– In January 2022, Sony Electronics announced the release from the BRAVIA XR tv series, which includes MASTER Series Z9K 8K and X95K 4K Mini LED models, MASTER Collection A90K, MASTER Series A95K, A80K 4K OLED versions, and X90K 4K LED model. Powered by Cognitive Processor XR, the unique XR Backlight Master Drive precisely controls with its current generation Small LED backlight within the Z9K and X95K series regarding incredible brightness. These innovations enable the particular company to deliver the best and most immersive viewing experiences, authentically delivering the creator’s true intent. According to one of the company’s representatives in the Asia-Pacific region, the particular company is usually committed to offering an enhanced seeing experience in order to the audiences.
— According to the Indian arm of Netflix, India is 1 of the most promising countries in the world, with more than 200 million potential TV households and still underpenetrated. Smart televisions have become a lot more affordable over the past couple associated with years and represent the newest TVs sold. According in order to the organization, Indian people love connecting to the particular internet plus streaming their favorite films and series on requirement. Also, the company witnessed a good ever-growing need among audiences to view Netflix on a smart TV at home with their family. Therefore, the positive outlook of renowned companies toward the Indian market represents the particular expanding marketplace growth associated with smart Televisions in the country.
– According to the data released by the particular Telecom Regulatory Authority of India (TRAI), cable and direct-to-home television providers lost their market place to streaming services during the pandemic as Netflix, Amazon Prime Video, plus ALTBalaji reached a significant number of clients. The combined user base of cable TV providers and DTH companies declined by 4. 1 million through March 2021.
– On similar lines, telecom DTH providers are also partnering along with OTT players to offer complete entertainment content. Inside September 2021, Vodafone Idea announced that the telecom industry is undergoing a digital transformation due to the developing consumption of over-the-top (OTT) systems, together with IoT acceleration. The company combined with local OTT platforms such since Voot Select Sun NXT.
: The collaborations between OTT and STB vendors can also be witnessed inside the region. In April 2021, multi-system operator (MSO) Siti Systems launched Siti PlayTop Magic, a 4K HDR STB offering Google android and linear TV features.
– The boost in the particular teledensity associated with rural subscribers can furthermore be witnessed in some other parts of the region. Based on a report published simply by India Brand Equity Foundation (IBEF) in July 2021, the teledensity of rural subscribers arrived at 60. 27% in March 2021, an increase of 1. 48% through March 2020, showcasing a high growth possible from the particular rural sector.

Competitive Landscape
The particular Smart Tv Market is concentrated due to the high initial investments and few dominant gamers in the market. Some of the key players are Samsung, TLC, and LG. However , the set-top box market is fragmented due in order to the presence of multiple players plus regional providers. However, the particular set-top box market can be considered moderately fragmented.

– 04 2022 — CommScope teamed with Fruit Belgium to equip its subscribers with the latest set-top boxes powered by the Android TV operating system (OS), which can provide live tv and premium streaming services.
: November 2021 – The Australian TELEVISION operator Foxtel partnered with Commscope in order to launch the new iQ5 streaming set-top box. The particular iQ5 STB offers more than 50, 000 hours of content in 4K UHD. Its stacked design functions a detachable 1TB hard drive and access to streaming apps, including Netflix, YouTube, ABC iView, SBS On Demand, Amazon Primary, Vevo, Paramount+, and 10Play. Commscope has provided Foxtel with a fully managed service to design, develop, and deploy its flagship set-top box software for iQ5. It also leans upon Commscope’s ECO Service Management Solutions intended for device automation.

Reasons to Purchase this report:
– The market estimate (ME) sheet inside Excel format
— 3 months associated with analyst support
Read the full report:

About Reportlinker
ReportLinker is a good award-winning marketplace research solution. Reportlinker finds and organizes the latest industry information so you get all the market research you need – instantly, in a single place.