Televisions Global Market Report 2024

The televisions market size has grown steadily in recent years. It will grow from $87.97 billion in 2023 to $91.48 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The expansion observed during the historical period can be attributed to factors such as the transition from analog to digital television technology, the evolution of consumer electronics, improvements in content delivery systems, compatibility with gaming and consoles, and the increasing influence of emerging markets on the television industry.

The televisions market size is expected to see steady growth in the next few years. It will grow to $104.34 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%. The anticipated growth in the forecast period can be attributed to the advancement to 8K and beyond in television resolution, enhancements in smart TV features, the integration of immersive technologies, the production of sustainable and eco-friendly TVs, and the increasing relevance of home office and productivity-related applications for TVs. Notable trends expected during the forecast period encompass the use of OLED and MicroLED displays, the adoption of bezel-less and frameless design concepts, the use of TVs as art pieces, the development of curved and foldable displays, and a greater focus on content integration within television offerings.

The televisions market experienced substantial growth driven primarily by the increase in disposable incomes. This growth was significantly attributed to the economic expansion and the rising middle-class population in emerging economies like China, India, and Brazil. According to the World Bank, in 2021, lower middle-income countries had per capita net disposal incomes ranging from $1,036 to $4,045, while upper middle-income countries ranged from $4,046 to $12,535. This boost in earnings and disposable incomes within developing markets played a pivotal role in the expansion of the televisions market.

The primary product categories of televisions include smart TVs and traditional TVs. A smart TV is a digital television that operates as an Internet-connected, storage-capable computer designed for entertainment purposes. Televisions are available in various technologies, including LCD, LED, OLED, and QLED, and they come in different screen sizes categorized as below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, and above 65 inches. These televisions find utility among residential, commercial, and other end users.

The televisions market research report is one of a series of new reports that provides televisions market statistics, including televisions industry global market size, regional shares, competitors with a televisions market share, detailed televisions market segments, market trends and opportunities, and any further data you may need to thrive in the televisions industry. This televisions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The televisions market is also being fueled by the surge in internet penetration. The increasing reach of the internet extends the accessibility of streaming platforms, fostering the development of online content and video-on-demand services. Consequently, this dynamic strengthens the television market, providing a broader audience with access to TV shows, live events, and on-demand programming. For instance, as of September 2023, Broadband Search reports that approximately 93.79% of the United States population, roughly 311.3 million individuals, are currently using the internet. This surge in internet penetration contributes significantly to the growth of the televisions market.

Changes in consumer lifestyles and preferences have had a noteworthy impact on the televisions market. The widespread adoption of smartphones, increasing internet access, and advancements in social media and digital technologies have led consumers to shift from traditional television to new forms of entertainment, particularly online audio and video streaming services accessible on mobile devices. This trend has resulted in a decline in television viewership, particularly among millennials. For instance, according to TV Tech, younger audiences aged 18-34 watched 25% less linear TV per week compared to those over the age of 35 in Q2 2022.

The demand for Ultra HD televisions is rapidly increasing, driven by their energy efficiency and ability to deliver high-quality images. Ultra HD televisions, including 4K and 8K UHD models with an aspect ratio of 16:9 or wider and a minimum resolution of 3840x2160 pixels, have gained popularity. Consumers are transitioning from traditional CRT and LCD TVs to these ultra-HD TVs due to swift technological advancements. For example, as of July 2023, a report by screen media suggests that the TV replacement cycle has contributed to a 74% smart TV penetration rate, with 38% of smart TV households using screen casting for other devices.

Leading companies operating in the television market are actively developing innovative television solutions to gain a competitive edge. Samsung, for instance, introduced new monitors that allow users to customize their displays to suit their specific preferences and needs for various activities like watching, gaming, or working. In January 2023, Samsung unveiled its 2023 neo QLED, micro-LED, and Samsung OLED lineup, emphasizing robust performance, secure connectivity, and personalized experiences.

In July 2021, Blaupunkt, a German audio tech company, collaborated with Indian contract manufacturer Super Plastronics Pvt Ltd. (SPPL) to launch a range of smart LED TVs in India. These Blaupunkt smart televisions were made available exclusively on Flipkart and were offered in screen sizes of 32 inches, 42 inches, 43 inches, and 55 inches. Super Plastronics Pvt. Ltd. is an Indian television manufacturing company. These developments underscore the ongoing efforts by major players to enhance their television offerings and remain competitive in the market.

Major companies operating in the televisions market include Samsung Electronics Co. Ltd., LG Electronics Inc., Sony Corporation, Hisense Group Co. Ltd., TCL Corporation, Koninklijke Philips N.V., Vizio Inc., Toshiba Corporation, Skyworth Group, RCA Corporation, Magnavox, Sharp Corporation, JVC (Victor Company of Japan Limited), Polaroid/Sceptre, Fujitsu Limited, Sansui Electric Co. Ltd., Onida, Xiaomi Corporation, Micromax Informatics Limited, Haier Group Corporation, Hitachi Ltd., Lloyd Electric & Engineering Ltd., Panasonic Corporation, Funai Electric Co. Ltd., Changhong Electric Co. Ltd., Konka Group Co. Ltd., Seiki Digital Inc., Element Electronics Corporation, Westinghouse Electric Corporation, Mitsubishi Electric Corporation, NEC Corporation, Videocon Industries Limited, Intex Technologies (India) Ltd., Akai Electric Co. Ltd.

Asia-Pacific was the largest region in the television market in 20232. North America was the second-largest region in the television market. The regions covered in the televisions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the televisions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The television market consists of sales of smart TV, liquid crystal display (LCD), light-emitting diode (LED), cathode ray tube (CRT), and other televisions. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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