Strong Broadband Penetration Sets Platform for Smart TV Adoption, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Smart TV markets. The global market for Smart TVs is projected to reach 223 million units by 2018, driven by increasing penetration of broadband services across the world. The days of referring to television as an ‘idiot box’ are passé. TV has always been a one way entertainment medium. However, TVs are evolving into incredibly smart and interactive devices, capable of serving more than one purpose to the viewer. Innovations such as LCDs, LEDs, HD, and 3D have triggered a new wave of digital television over the last decade. With the new era of convergence setting in wherein broadband and broadcasting services are merged, traditional TVs are undergoing yet another round of makeover, this time churning out what can be referred to as a new range of Internet capable ‘Smart TV’ sets.

Smart TVs: A Global Strategic Business Report

Follow us on LinkedIn – Growing broadband penetration and subsequent rise in Internet subscriptions world over have and will continue to drive market prospects for smart TV market, as net savvy consumers are most likely to prefer accessing television media and Internet from a single platform rather than using multiple devices. Households with broadband connectivity therefore are most prospective consumer cluster for Smart TVs. In the US, the percentage of broadband households with an inclination towards smart TV adoption increased by about 4 percentage points between 2010 and 2011. Thus, efforts are being put to connect all the devices and create connected TV ecosystem where web content can be synchronized from laptops, smartphones and tablets and be accessed simultaneously over TVs.

Developed markets such as Western Europe and the US have been the traditional revenue contributors to the Smart TV market, given the strong broadband penetration in these regions. However, growth in the market over the next few years will be primarily driven by developing markets, given the fast improving broadband connectivity, growing consumer affluence especially in emerging markets such as India and China, and subsequent rise in demand for quality content over best TV sets available in the market.

Smart TVs adoption has been increasing across the globe as most of the consumers continue to use their advanced television sets for traditional purpose of watching TV programs rather than making use of them for the purpose they are meant to be. Less than 50% of Smart TV owners connect to Internet through their devices, given the low awareness levels on the full attributes of their newly acquired products. Additionally, most of the consumers have been buying Smart TVs only for the purpose of replacing their old TV sets with the best models in the market rather than for the purpose of achieving connectivity. However, the scene is set to reverse in the short to medium term as manufacturers increase their promotional efforts. Aggressive promotional strategies and ad campaigns by manufacturers have helped boost consumer awareness and interest level on smart TVs, thereby making Internet connectivity a standard feature for smart TVs.

TV advertisements, press releases, PR activity and in-store awareness programs aimed at educating consumers about what Smart TVs are actually capable of, is increasing consumer interest and also the demand for data applications over these devices. Strong promotional efforts are already yielding positive results with data connection rates over smart TVs increasing steadily in recent times. Product design and development strategies are also increasing data consumption among consumers. For instance, the new product feature, which makes consumers to connect their Smart TVs to the network during the plug and play stage itself, even before tuning stage will increase number of Smart TV viewers accessing Internet. Active recommendations and sophisticated search engines will also invite more number of Smart TV users to Internet portals and applications.

The Smart TV ecosystem consists of players from diverse industries such as TV manufacturers, telecom companies and platform providers. Collaboration between various players in the ecosystem is essential for growth in the smart TV market. The smart TV market is expected to remain supplier driven on account of a number of factors. For instance, telecom companies are expected to focus on increasing income from data through growth of media content traffic, while platform providers are expected to utilize and add more content and applications to the platforms. Furthermore, TV companies are expected to focus on expanding market share by introducing new models. Consequently, the market is expected to witness transformations in the competition dynamics and retail channels.

As stated by the new market research report on Smart TVs, the North America, Japan, and Europe account for a lion’s share of the global market for Smart TVs. However, with these markets nearing saturation, emerging markets such as China, India, Russia, and Brazil are expected to drive the market for Smart TVs in future.

Major players in the global marketplace include Haier Group, Hisense Group, Hitachi, Ltd., Lenovo Group Limited, LG Electronics, Mitsubishi Electric Corp., Panasonic Corporation, Royal Philips Electronics N.V., Samsung Electronics Co., Ltd., Sharp Corporation, Sony Corporation, TCL Corporation, Toshiba Corporation, and VIZIO, Inc.

The research report titled “Smart TVs: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, and other strategic industry activities. The report provides market estimates and projections for active Smart TVs in Million Units for major geographic markets including the US, Canada, Japan, Europe (France, Germany, UK, Russia, and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), and Rest of World.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Smart_Televisions_TVs_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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