Smart Tv Statistics 2024 By Market Size, Share And Trends

Introduction

Smart TV statistics: Are you thinking of buying a smart TV this year? Don’t get confused because there are several different manufacturing brands available in the market, this article includes insights from various aspects that provide light on why Smart TV is so trending and popular in recent days. Over the world billions of users are showing interest in Smart TVs and demand is increasing these TVs are implemented with advanced technology and improved processors with AI (artificial intelligence). A report published in Research and Market states that by 2030 the market size of global smart TV is expected to reach $ 451 million with 11.4% of CAGR from 2023 to 2030. Hope, these statistics guide you better in choosing your suitable smart TV.

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(Source: Research and Market.com )

• As of 2023, in the United States of America, the average number of smart TV users is expected to reach 190 million.
• In the United States, all in-home video streaming via Smart TV is done by 55%.
• In the year 2023, the market size of Smart TVs is going to be $211.42 billion and the year-over-year growth rate in 2023 is 10.33%
• The global market of Smart TV by 2030 is expected to be $451.26 billion.
• In the 1st half of 2023, the average selling price of Smart TV has dropped by 3% which results in $380.
• At the same time, the most popular TV equipped with 8GB internal storage with a remarkable growth of 33% year-over-year.
• In 2023, the Smart TV market of the Asia Pacific region accounted for the largest revenue share with more than 40%.
• Around the world, total shipments of Smart TVs in 2023 are around 199 million units, which has slightly decreased from last year.

Facts About Smart TV

• Samsung brand holds the highest market share of 23% in the Smart TV market.
• Whereas, other Smart TV brands’ market share is followed by LG with 18%, Sony at 14%, Vizio (9%), TCL (7%), and Hisense (6%) around the world.
• The Smart TV sold market share statistics by price range are followed by $500-$1000 with 45% share, $1000-$1500 (25%), $1500-$2000 (18%), more than $2000 (4%), and less than $500 (8%).
• While 60% of people earning less than $50,000 are using more Smart TV users around the world in 2023.
• Owner of Smart TV statistics by annual income is followed by less than $25,000 (20%) and income level between the ranges of $25,000 to $50,000 (30%).
• As of 2023, around the world, people are willing to pay more than $1000 for adopting Smart TV with high-quality features.
• There are 75% of users of Smart TV are college students in 2023.

General Smart TV Statistics

• In the United States, the market size of the Smart TV market in 2023 is expected to be $31.34 million units and by 2028 it is going to be $34.10 million units with a 1.70% CAGR.
• Worldwide sales of Smart TVs in 2023 are around 80 million units.
• American people aged between 35 years to 54 years own a Smart TV share of 49%.
• In the United Kingdom, the share of Smart TV owners is 77% those are aged between 35 years to 44 years.
• In the 1st quarter of 2023, the global shipment of TV streaming has grown by 2% along with enabling strong performance of Sony’s PS5.
• Total Smart TV usage dropped in February due to a lack of high-demand content available.

(Source: nielsen.com)

• As of February 2023, the usage of cable and broadcast has reduced by 5.7% and 9.2% respectively.
• In January 2023, the shares of Smart TV trend statistics are followed by Broadcast (24.9%), Cable (30.4%), Streaming (32.8%), and others (11.9%).
• On the other hand in February 2023, the shares of Smart TV trend statistics are followed by Broadcast (23.8%), Cable (30.2%), Streaming (34.3%), and others (11.7%).
• In the first half of 2023, the shipment of Indian Smart TVs has declined by 5% year-over-year.

Market Leader’s Statistics

• As of 2023, at the helm of the Smart TV industry, Xiaomi has experienced the highest position with a market share of 14%.
• Samsung Smart TV secured the second position holds a 13% market share.
• LG Smart TV follows other market shares with 12%, TCL Smart TV (8%), and OnePlus Smart TV (7%).
• In the United States revenue earned by Smart TV is going to be $18 billion and by the end of 2028, it is expected to be 0.79% of CAGR.
• The market size value in India is expected to be $11.7 billion by the end of 2023 and by 2030 it is supposed to be $32.57 billion with a 16.7% CAGR.
• By the end of 2033, the Chinese market for Smart TVs is expected to expand by 16.5% of CAGR.
• At the end of 2026, global Smart TV ownership is expected to increase up to 1.1 billion households, with 51% of them.

By Operating System Statistics

• The highest share of operating systems in-home streaming via a Smart TV in 2023 is Android TV (35%)
• The market share of WebOS OS is 25% whereas; Tizen includes 20%.
• Others are followed by Roku TV (10%), and others (10%).
• The most popular technology used in Smart TVs is Organic Light Emitting Diode (OLED) and QLED, whereas other technologies used are Artificial Intelligence, 8K resolution, and IoT integration.
• In 2023, the adoption rates of traditional LED Smart TV have decreased in 2023.
• Some challenges experienced in the Smart TV technology are limited content availability, compatibility issues, security concerns, and user interface.

By Generation

• As of 2023, in the United States the most users per month of Smart TV by Gen Z with 52.2 million people.
• Other user statistics by generation are followed by Millennials (61.5 million), Gen X (51 million), and Baby Boomers (33.1 million).
• By the end of 2025, the user statistics are followed by Gen Z (56.1 million), Millennial (62.6 million), Gen X (50.5 million), and Baby Boomer (31.6 million)
• The frequency share of Smart TV usage statistics in 2023 is followed by 18 years to 34 years (65%) and daily they spent around 3 hours.
• On the other hand, for people aged above 55 years frequency usage is 35% market share, and daily time spent is almost 1 hour.
• Whereas, the ownership share of Smart TV in North America is about 40% of households, Europe with 35%, Asia-Pacific (20%), and Middle East and Africa at 5%.

By Resolution Statistics

• In 2023, the Smart TV market has enhanced in recent years, the most available and affordable resolution of Smart TV is 4K with a market share of 60%.
• Whereas, the 8K resolution of Smart TV is quite expensive than 4K and is not adopted widely around the world thus, holding a 10% market share.

Brand-wise Smart TV Statistics by Resolution

• Samsung is the biggest brand in the market of Smart TVs and the most sold Smart TV with 4K resolution with 65% sales. Whereas, other sales share by resolution are 8 K (20%) and 1080p (15%) in 2023.
• LG’s sales share of 4K resolution Smart TV statistics is 70%, others are 8K with 20% sales share and 1080p with 10%.
• Sony’s sales share of Smart TV with resolution is followed by 4K (60%), 1080p (30%), and 8K (10%).
• Panasonic’s sales share of Smart TVs with resolution is followed by 1080p (50%), 4K (40%), and 8K (10%).

By Screen Shape Statistics

• Currently, the most demanding Smart TV screen size is 32 to 45 inches with a revenue share of around 40% with the integration of 4K technology.
• As of 2023, Smart TV’s most common screen types used are traditional 21:9 (ultra-wide), 16:9 (Widescreen), and 4:3 (Standard) aspect ratios.
• In recent years, the sales shares of Smart TV screen types are followed by ultra-wide with 20%, Widescreen (75%), and Standard (5%).
• According to Smart TV statistics, the global Smart TV market of flat screens is more than 80%.
• In 2023, the largest market share of flat-screen TVs is projected to be $250 billion.

By Screen Size Statistics

• The shipment of 55-inch Smart TV market share resulted in 35% and is termed as the most popular by the end of 2023.
• The next closest screen size of Smart TV is 65 inches with 28% market share.
• Furthermore, other screen sizes of Smart TVs market share are followed by 75 inch (14%), 40-49 inch (12%), 50-54 inch (11%), and 40 inch (1%).

By Distribution Channel Statistics

• The global Smart TV is sold through E-commerce platforms as a distribution channel by estimating a share of 60%.
• Smart TV sold via company websites in the same year is expected to be 20% share.
• The most popular distribution channel for Smart TV is online retailers in 2023 and the market share is supposed to be 45%.
• Whereas, the market share of Smart TV is followed by brick-and-mortar (35%), and direct sales (20%).

By Regional Statistics

• The market share of Smart TV in 2023 is experienced by North America with $22.1 billion and annually it is expected to be 0.85% of CAGR from 2023 to 2028.
• In Africa, the revenue generated in 2023 is accounted to be $2.7 billion with 0.38% of CAGR by 2028.
• Other revenue in the Smart TV market amounts other regions are followed by America ($29.2 billion), Asia ($32.3 billion), Australia and Oceania ($1.8 billion), Caribbean ($0.5 billion), Central and Western Europe ($19.6 billion), Central Africa ($224.4 million), Central Asia ($260.6 million), Eastern Africa ($0.9 billion), Eastern Asia ($23.3 billion), Eastern Europe ($3.9 billion), Europe ($31.3 billion), North America ($22.1 billion), Northern Africa ($0.5 billion), Northern Europe ($1.8 billion), South America ($6.3 billion), Southeast Asia ($3.6 billion), Southern Africa ($0.4 billion), Southern Asia ($3.7 billion), Southern Europe ($6 billion), Western Africa ($0.6 billion), and Western Asia ($1.4 billion).

Online Streaming Statistics

• Around the world, almost 1.1 billion people will be using Smart TV in the year 2023.
• Smart TV owners by 70% are currently using their devices for streaming.
• Around 76% of Smart TV owners are using Netflix for streaming various shows. Whereas, other online streaming platform shares are followed by Amazon Prime Video (58%), and Hulu (45%)

Indian Smart TV Shipments Statistics

• The Indian Smart TV market is expecting to ship more than 10 million units by the end of 2023.
• The market share of top brands of Smart TV is followed by Brand A with 35%, others are followed by Brand B (25%), and Brand C (20%).
• In the 2^nd quarter of 2023, the shipment shares of Smart TVs of different companies are followed by TCL (7.2%), LG (9%), ONEPLUS (9.3%), Samsung (9.6%), MI (9.8%), and Others (55.1%).

Conclusion

As of now, after completing the article on Smart TV statistics it can be clearly stated that in recent years the usage has become popular enormously. Mostly to technological development the market share of Smart TV has increased effectively due to increased demand for high-quality video content, and easy streaming services. This article includes many effective statistics about Smart TV usage around the world will help in understanding the topic better. Let us know, which brand of smart TV you are going to invest in!