The global televisions market was worth $82.75 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 3.43% and reach $94.7 billion by 2023. Asia-Pacific was the largest region in the televisions market in 2019. Major players in the market are Samsung, LG, Sony, Hisense, TCL, Philips, Vizio, Toshiba, and Skyworth.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider televisions market, and compares it with other markets.
The rise in disposable incomes was a major driver of the televisions market. The rise in disposable incomes was mainly driven by economic growth and middle class population growth in developing countries such as China, India and Brazil. According to the World Bank, the world's middle class population - defined as population that earn between $10 and $100 per day - increased from approximately 1.5 to 2 billion between 2010 and 2015. In 2017, China's economy grew at 6.9% and India's GDP grew at 7.1%. The per capita disposable income in India increased at a CAGR of 9.2% during 2005-2015 to reach $1,154 in 2015. Increased earnings and increased disposable incomes in the emerging markets, contributing to the televisions market's growth.
In February 2018, GotMatter Pvt Ltd, a Bangalore based IT and E-Commerce company, acquired Ridaex Technologies for an undisclosed amount. The acquisition will strengthen the GotMatter Pvt Ltd's position as an agile and innovative company. Also, enables the company to improve sales and increase expertise in customer services and enhance its business intelligence. Ridaex Technologies made its name by manufacturing first Indian Led Smart TVs.
The changes in consumer lifestyles and preferences had a significant impact on the televisions market. With increasing smartphone and internet penetration and advances in social media and digital technologies, consumers shifted from television to new forms of entertainment such as online audio and video streaming services on mobile phones. Television viewership continued to decline, especially among the millennial. For example, as of 2017, young people in the UK were watching a third less television through traditional free-to-air channels such as the BBC and ITV than they did in 2010. In 2016, the decline in TV viewership for young millennial (aged 18-24) in the US was 7.4% year-over-year and 40.1% over 5 years. Changes in consumer preferences restricted the demand for televisions.
Key Topics Covered
1. Executive Summary
2. Televisions Market Characteristics
3. Televisions Market Size and Growth
3.1. Global Televisions Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Televisions Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market
4. Televisions Market Segmentation
4.1. Global Televisions Market, Segmentation by Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Televisions Market, Segmentation by End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Televisions Market, Segmentation by Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.4. Global Televisions Market, Segmentation by Screen Size, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Below 32 inches
- 33 to 45 inches
- 46 to 55 inches
- 56 to 65 inches
- Above 65 inches
5. Televisions Market Regional and Country Analysis
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