According to a new market research report, "Global Smart TV Market", published by MarketsandMarkets (www.marketsandmarkets.com), the total smart TV market is expected to reach $265 billion by 2016, at a CAGR of 17% and the unit shipment is expected to reach 153.2 million by 2016 from 64 million in 2011, at an estimated CAGR of 19%.
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A smart TV device is either a television set with integrated internet capabilities or a set-top box for television that offers more advanced computing ability and connectivity than a contemporary basic television set.
The first and prime focus to launch the smart TV in the market was to change the TV viewing experience of the living room. Families wanted to watch their favorite TV programs, movies, TV shows, games, photos all together and smart TV concepts make it possible for them. It has been surveyed that almost 90% of people wanted to use the internet on their TV so this was the encouraging factor for the smart TV manufacturers.
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By mixing the best capabilities of TV, PC, and mobile technologies, smart TV provides a more customizable experience, enabling consumers to enjoy content stored on many connected devices from the largest, most immersive screen at home.
Smart TV allows users to explore, discover, and engage with what they want, when they want it. It also provides an interactive and personalized experience in family rooms everywhere.
The overall smart TV market was worth $86 billion in 2010 and is expected to reach $265 billion by the end of 2016 with a CAGR of 17%. In terms of unit shipment, smart TV was valued at 43.6 million units in 2010 and is expected to reach 64 million by the end of 2011 with an annual growth of 47%. By 2016, smart TV unit shipment is expected to reach 153.2 million units with a CAGR of 19%.
The agenda for the briefing includes discussion on key high growth markets, thereby marking the growth trend in the smart TV market. Furthermore, a briefing conducted on the competitive scenario and geographic trends and opportunities in the North America, Europe, Asia-Pacific, and ROW.
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