Microcontroller Market To Predict Global Expansion, Due To Growing Awareness Regarding Smart Energy Management With The Emergence Of Smart Grids

  

Microcontroller Industry Overview

 

The global microcontroller market size was valued at USD 18.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030.

 

Globally, more than 29 billion units of microcontrollers were shipped in 2021. Microcontrollers are majorly used in devices that require a considerable degree of control utilized by the users. The increasing competition in the industry has led to the low price of the product, which will drive the demand for microcontrollers. The growing awareness regarding smart energy management with the emergence of smart grids is expected to increase the MCU demand. The COVID-19 pandemic has had a substantial impact on the semiconductor manufacturing industries across the globe.

 

The fall in production and exports of microcontrollers in the countries, such as China, Germany, the U.S., Japan, and South Korea, coupled with the labor shortage, has significantly declined the overall market revenue in 2020. However, as the lockdown restrictions are getting lifted in several countries such as the U.K. and Germany, the manufacturing facilities have started operating with reduced work capacity to limit the spread of COVID-19. With the growing demand for 5G network equipment, servers, and electric and autonomous vehicles (EV) applications globally, microcontrollers' adoption is expected to see a remarkable surge over the coming years. This, in turn, is estimated to boost the overall market growth over the forecast years.

 

Gather more insights about the market drivers, restrains and growth of the Global Microcontroller Market

 

The critical factor that is boosting the market growth is the rising demand from the medical sector across the globe. The growing percentage of coronavirus cases, the increasing geriatric population, and the rising occurrence of diseases such as diabetes and high blood pressure are other key factors fueling the market growth. As a result, the demand for electronic medical devices to measure oxygen levels, temperature, blood pressure, and sugar levels is increasing. Microcontrollers can decrease the cost of medical devices and help provide accurate reading and information about the condition of the patient. As such, the demand for microcontrollers from medical equipment manufacturers is considerably increasing.

 

Microcontrollers are used in numerous devices from various applications such as automotive, industrial, telecommunications, healthcare, and consumer electronics. The automotive sector is driven by an increase in the number of luxury cars that use advanced microcontrollers. The electric vehicle market is rapidly growing, which is anticipated to further boost the product demand. As a result, with the growing demand for vehicles, the automotive sector is expected to contribute considerably to the growth of the global market from 2022 to 2030. However, the global slowdown in the sales and production of vehicles can affect the growth as microcontrollers are majorly used in automotive applications.

 

Increasing awareness regarding smart energy management with technological advancements is expected to boost the growth further. The smart grid is one of the technologies that combine with electrical networks and digital communication to facilitate remote control facilities. A smart grid uses smart meters and a communication channel to communicate. Hence, microcontrollers are used for ensuring communication between physical locations. Thus, smart meter installations under smart grid initiatives are expected to drive the market considerably.

 

Recently, the market is witnessing an increased demand for Internet of Things (IoT) MCUs. The growing web of connected devices encompasses smartphones, televisions, tablets, home appliances, gaming consoles, smart meters, and security systems. By leveraging this ever-increasing web of devices, the demand for IoT microcontrollers is rapidly growing. Increasing competition has led to the reduced prices of the product, which is anticipated to further fuel the product demand. The declining average selling prices, coupled with high demand from major application areas, are expected to drive the market over the forecast period.

 

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• IoT Microcontroller Market - The global IoT microcontroller market size was valued at USD 4.69 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.7% from 2022 to 2030. The increasing number of IoT connections among consumer and enterprise sectors and the need for low-power, high-performance, and energy-efficient connected products are some of the primary factors to drive the market growth.
• Autonomous Vehicles Market - The global autonomous vehicles market demand was estimated at 51.6 thousand units in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 53.6% from 2022 to 2030.

 

Microcontroller Market Segmentation

Grand View Research has segmented the global microcontroller market on the basis of product, application, and region:

Microcontroller Product Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

• 8-bit
• 16-bit
• 32-bit

Microcontroller Application Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

• Automotive
• Consumer Electronics & Telecom
• Industrial
• Medical Devices
• Aerospace & Defense
• Others

Microcontroller Regional Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

 

Market Share Insights

• November 2020: Renesas Electronics Corporation in collaboration with ALTRAN, an engineering and R&D service provider (A Capgemini Subsidiary), developed a social distancing-based wristwatch on Ultra-Wideband (UWB) technology.

 

Key Companies profiled:

Some prominent players in the global microcontroller market include

• Infineon Technologies AG
• Microchip Technology Inc.
• NXP Semiconductor
• Renesas Electronics Corporation
• STMicroelectronics
• Texas Instruments Incorporated

 

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Water Dispenser Market To Rise Up At Exponential Growth, Based On Rising Demand For Safe Drinking Water Till 2030

 

Water Dispenser Industry Overview

 

The global water dispenser market size was valued at USD 2.48 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2022 to 2030.

 

Product demand is being driven by factors such as portability, ease of use and installation, and low maintenance costs. Drinking water scarcity in several regions necessitates robust sources to meet the rising demand for safe drinking water, resulting in increased product sales and, as a result, market growth. The COVID-19 pandemic has brought about a seismic shift in consumers' attitudes toward wellness and health safety. The infrared sensor dispensing is gaining high traction as direct human contact is reduced. For instance, the Quench Q8 water dispenser operates on touchless sensor-activated dispensing to deliver instant hot and cold water.

 

Gather more insights about the market drivers, restrains and growth of the Global Water Dispenser Market

 

The versions which are economical and functional are expected to be highly preferred in the market in recent years. Ecommerce platform vendors are actively developing new techniques to increase their sales in the global water technology market. As consumers become more aware of water-borne diseases, players are prioritizing multi-stage filtration, with RO and UV as major techniques, which can be profitable because they are more effective than other methods of water filtration.

 

Leading manufacturers' promotional campaigns also help to drive the market. Low maintenance requirements, as well as after-sales services provided by manufacturers, help to drive product demand. Furthermore, the availability of a variety of products, such as top load and wall-mounted, with direct plumbing features and simple cleaning processes will drive up demand even further. On the other hand, frequent product replacement or component replacement, as well as additional expenses during peak summertime, may have a negative impact on market growth. However, rising water pollution levels and increased purchasing power of consumers will support product demand.

 

Key players are taking the necessary steps to improve the accuracy and overall functionality of the devices. For instance, in 2021, Quench's new product line of touchless hydration solutions, dubbed the Quench Q-series, offers sensor-activated, touchless dispensing for health-conscious businesses and is the first of its kind to be available in the United States and Canada. QuenchWATER+ is produced by all Quench Q-Series options, and it employs a proprietary 5-filter setup to add electrolytes and improve the taste by removing sediments and contaminants. The result is electrolyte water that is crisp, clean, and delicious.

 

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• Drinking Water Adsorbents Market - The global drinking water adsorbents market size was estimated at USD 459.0 million in 2018 and is expected to expand at a CAGR of 4.0% from 2019 to 2025. The market is anticipated to be driven by rising concerns regarding pollution, resulting in the formulation of strict regulations.
• Bottled Water Market - The global bottled water market size was valued at USD 283.01 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2030.

 

Water Dispenser Market Segmentation

Grand View Research has segmented the water dispenser market based on product, application, end-use, and region 

Water Dispenser Product Outlook (Revenue, USD Million, 2017 - 2030)

• Bottled
• Bottle-less

 

Water Dispenser Application Outlook (Revenue, USD Million, 2017 - 2030)

• Residential
• Commercial
• Industrial

 

Water Dispenser End-Use Outlook (Revenue, USD Million, 2017 - 2030)

• Commercial
  • Hospitality
  • Transport Terminal
  • Institutions
  • Corporate Offices
  • Others
• Industrial
  • Food & Beverages
  • Healthcare
  • Others

 

Water Dispenser Market Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

 

Market Share Insights

• September 2020: Aquaverve, North America's premier water cooler manufacturer, announced the launch of its touchless water cooler line. These water coolers were designed in response to the need to promote safer conditions for consumers and businesses in the wake of the coronavirus pandemic. They developed two models of touchless water coolers - the Oceanik Touchless Bottleless Cooler and the Pacifik Touchless Bottleless Cooler. The Pacifik model is available in both bottled and bottleless configurations. 
• April 2020: Waterlogic Holdings Limited announced the closing of the acquisition of a significant minority stake in the company by four strong institutional investors, namely British Columbia Investment Management Corporation (BCI), Neuberger Berman, StepStone, and Skandia. This acquisition provided the company access to capital through which it can accelerate its growth to become the global leader in the fast-growing market for bottle-less workplace hydration.

 

Key Companies profiled:

Some of the key players operating in the global water dispenser market include:

• Whirlpool Corporation
• Primo Water Corporation (formerly, Cott Corporation)
• Honeywell International Inc.
• Culligan International Company
• Clover Co. Ltd.
• Waterlogic Holdings Limited
• Midea Group Co. Ltd.
• O. Smith Corporation
• Edgar’s Water 

 

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Pressure Sensor Market Is Anticipated To Reach USD 11.91 Billion By 2025

 The global Pressure Sensor Market is expected to reach USD 11.91 billion by 2025. A pressure sensor can be defined as a device that is used to sense pressure changes and translate it into an electrical signal, that can be moderated depending on the strength of pressure. Factors, such as advancements in MEMS & NEMS technologies for various applications, increase in use of pressure sensors in automotive industry. In addition, favorable regulations for use of pressure sensors and increase in demand for pressure sensors in consumer electronics are likely to drive the pressure sensor industry in the forthcoming period.

On the other hand, intense pricing pressure is anticipated to hinder pressure sensor market growth in the future. However, the increasing demand for pressure sensors in numerous applications is likely to create lucrative opportunities for the market. Pressure sensor industry is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

The report “Pressure Sensor Market Size & Forecast Report, 2014 - 2025” is available now at https://www.millioninsights.com/industry-reports/pressure-sensor-market

Pressure sensors market is segmented by type, product type, application and geography. The market is segmented by type as Resonant Solid State, Piezoresistive, Capacitive, Electromagnetic, Optical and Others. The “Piezoresistive” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of market include increasing use of MEMS sensors in wearable devices and consumer electronics is boosting market growth.

Based on product type, the pressure sensors industry is segmented by Gauge Pressure Sensors, Absolute Pressure Sensors, and Differential Pressure Sensors. The “Absolute Pressure Sensors” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factor that could be attributed to the growth of market includes increasing demand in industrial applications for the measurement of vacuum levels.

The key applications are segmented in the pressure sensor market include Oil & Gas, Consumer Electronics, Industrial Applications, Automotive, Medical, and Others. The “Consumer Electronics” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of market include rising use of MEMS devices in wearable devices and consumer electronics is boosting the segment growth. The Consumer electronics segment is followed by the Automotive sector in the forthcoming period.

North America is a leading region in the market. It is likely to maintain a dominance in the forecast period owing to factors, such as increasing awareness about the advantages of automated systems and growing deployment of automated retrieval and storage systems (ASRS), presence of several semiconductor establishments, sensor manufacturers, and foremost system suppliers in North American countries. North America is followed by the Asia-Pacific region.

Key players operating in the pressure sensor industry include ABB Ltd, Emerson Electric Co., Analog Devices, Inc., Robert Bosch Gmbh, Delphi Automotive Plc, Denso Corporation, Honeywell International Inc., NXP Semiconductors, N.V., Damco Corporation, and Schneider Electric. The leading companies are involved in partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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Market Segment:

Product Outlook (Revenue, USD Million; 2014 - 2025)
• Absolute Pressure Sensors
• Differential Pressure Sensors
• Gauge Pressure Sensors

Type Outlook (Revenue, USD Million; 2014 - 2025)
• Wired
• Wireless

Technology Outlook (Revenue, USD Million; 2014 - 2025)
• Piezoresistive
• Electromagnetic
• Capacitive
• Resonant solid-state
• Optical
• Others

Application Outlook (Revenue, USD Million; 2014 - 2025)
• Automotive
• Oil & gas
• Consumer electronics
• Medical
• Industrial
• Others

Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Russia
• Nordic Region
• Asia Pacific
• India
• Australia
• China
• Japan
• Latin America
• Brazil
• Argentina
• MEA
• Saudi Arabia
• UAE

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Electronic Display Market Will Grow As Of Extension Of Consumer Electronics Industry

 The global electronic display market size was valued at USD 313.5 billion in 2014 and is anticipated to reach USD 733.7 billion by 2022. Global electronic display market is expected to experience a lucrative growth on account of increasing applications of display technologies in numerous electronic systems. Technological innovations, extension of consumer electronics industry and rising applications in numerous end-use segments are anticipated to fuel the market growth.

The product market has been observed to experience a significant growth in the past few years in light of numerous technological innovations. The development of advanced consumer electronics includes tablets, smartphones, smart televisions and smart wearable’s is anticipated to fuel the market over the forecast period. In addition, rising buying power across the globe is open new opportunities for the growth of the industry. Manufacturers are bound to follow regulations including the restriction of hazardous substances (RoHS) and waste electronics and electrical equipment (WEEE) standards.

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The rising trend of AMOLED and OLED in consumer electronic devices on account of technological innovations on high resolution display technology is expected to positively influence the product market. Conversely, the implementation of innovative technologies includes initial costs to be high causing an increase in the cost of the device which is expected to act as a restraint for the growth of product demand.

In the past few years the LCD displays are observed to have dominated the market. The segment captured more than 35% of the total industry revenue share on account of the increasing usage in consumer electronics devices including personal computers and TVs. Advanced OLED and LED display technologies are expected to gain popularity on account of high operational suitability and reliability towards numerous applications.

In digital signage applications these electronic technologies are broadly used which in turn is expected to broaden the scope of the product’s success. The trend is observed to be shifting by the manufacturers from rigid OLED displays to flexible AMOLED displays to on account of differentiating their product from rigid LCD. Display forms an important element in a wide variety of consumer electronic devices and act as an interface between the user and the device. Consumer electronics application segment captured over 50% of the overall market share in 2014 and is anticipated to have a lucrative growth over the next eight years.

Major developments include advanced digital signage 2.0 which displays data are being broadly used in the retailing industry. Advanced electronic displays are widely being used in end-use segments including corporate, entertainment, retail, healthcare and government. Approximately 30% of the overall revenue in 2014 was accounted by the entertainment end-use segment. Additionally, increasing use of digital signage in the retailing industry coupled with the surging adoption of modern the e-commerce retailing has made it the fastest growing application segment in the industry.

The global electronic displays industry is observed to be dominated by the Asia Pacific market amounting for over 140 billion in 2014. Less stringent government norms coupled with lower manufacturing costs in the region has led the technology giants to set manufacturing hub in the region, therefore fuelling the industry growth. North America is expected to witness a lucrative growth over the upcoming years on account of improved lifestyle and high disposable incomes of the population is anticipated to accelerate the demand for display based applications.

The key players operating in the market include Active Light Inc., AU Optronics, Toshiba Corporation, LG Electronics, Casio Computers Co. Ltd. Zenith Electronics Corporation, and Sony Corporation. Vendors are implementing strategies including product differentiation and innovation by investing on R&D in light of acquiring a competitive advantage.

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Smartphone producer’s and consumer electronics are observed to be alliancing with display technology manufacturers in light of outsourcing the manufacturing of electronic display. Apple Inc. procures the panel-making unit of Samsung Electronics Co Ltd and OLED screens of advanced version for its iPhones from LG Display Co Ltd on account of improved picture quality and thinner than LCD screens.

Market Segment:

Electronic Display Technology Outlook (Revenue, USD Billion, 2012 - 2022)
• LCD
• LED
• OLED
• Others

Electronic Display Application Outlook (Revenue, USD Billion, 2012 - 2022)
• Consumer Electronics
• Digital Signage
• Automotive Display
• Others

Electronic Display End-Use Outlook (Revenue, USD Billion, 2012 - 2022)
• Retail
• Entertainment
• Corporate
• Healthcare
• Government

Car DVR Regional Outlook (Revenue, USD Billion, 2012 - 2022)
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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Water Flosser Market Will Increase Due To Growing Awareness Regarding Oral Care

 Market Slingshot:

The global Water Flosser Market was worth US$ 806.52 million in 2018 and is anticipated to reach US$ 1.11 billion by the completion of 2025. It is expected to witness a CAGR of 4.7% between 2019 and 2025.

The functionalities of a water flosser include effectively cleaning dental implants, bridges, veneers, and crowns. The major factor driving the water flossers market is growing awareness regarding oral care. Consumption of tobacco products is on the rise. Besides, increasing issues relating to oral health are expected to bolster the market.

The report “Water Flosser Market Size & Forecast Report, 2015 - 2025” is available now at https://www.millioninsights.com/industry-reports/water-flosser-market

Market Scope:

As per CDC (Centers for Disease Control and prevention), over 90% adults faced cavity issues as of 2016. Plaque gets built up between teeth due to food remains getting accumulated therein. Water flosser is an effective means to prevent these issues. Plus, medical tourism market is expanding at a substantial rate. Medical tourism market is also expanding at a stupendous rate. This could end up impacting the market positively. Aged population is also growing rapidly. All these factors are expected to catalyze the market.

The other factor to be pondered about is rise in the diabetic population across the globe. It’s a known fact that diabetes, in the long run, results in periodontal diseases. This would drive the market further. The same CDC says that in 2016 84.6% of the entire population of the U.S. between age 2 and 17 had paid a visit to dentists.

Restraints:

Certain consumers still prefer water picks in place of flossing as the former one does make sure to reach every area of mouth, refrains from gum sensitivity, and avoids even the slightest of bleeding. These factors are likely to act as restraints to the water flosser market.

Regional Insights:

North America holds the largest market share due to awareness about oral hygiene in place. Additionally, gum diseases are also on rise. This would propel the market further. Europe comes in second due to economies like Denmark and Belgium spending extensively on healthcare. Asia Pacific is expected to grow at the fastest pace owing to an upswing of awareness regarding dental health.

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Market Segmentation:

The water flosser industry is segmented based on product, application, and geography. By product, the market spans countertop and cordless. By application, it says dental clinic, hospitals, and home care. The “home care” segment is expected to be the torchbearer due to geriatric population preferring it over conventional hospital visit. By geography, the market segmentation goes like North America (U.S.), Europe (Germany, U.K.), Asia Pacific (Japan, India, and China), Central & South America (Brazil), and MEA.

Players:

The players contributing to the water flosser market include Hydro Floss, Aquapick, Oral Breeze, ToiletFree Products, Inc., Water Pik, Inc., Shenzhen Relish Technology Co., Ltd.

Market Segment:

Water Flosser Product Outlook (Revenue, USD Million, 2015 - 2025)
• Cordless
• Countertop

Water Flosser Application Outlook (Revenue, USD Million, 2015 - 2025)
• Hospitals
• Dental Clinic
• Home Care

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Water Flosser Regional Outlook (Volume, Tons; Revenue, USD Million, 2015 - 2025)
• North America
• U.S.
• Europe
• U.K.
• Germany
• Asia Pacific
• China
• India
• Japan
• Central & South America
• Brazil
• Middle East & Africa

Camera Module Market Will Grow With A CAGR Of 16.2% In The Forecast Period

 Global Camera Module Market is estimated to reach USD 61.78 billion by 2022 owing to the increase in demand for smartphones, tablets, digital cameras and PC devices. A camera module is an image sensor with integrated control electronics, lens and an interface like Camera Serial Interface (CSI), Ethernet or plain raw low-voltage differential signaling. It provides functions for clicking photos with the help of electronic devices like smartphones and tablets. The lens module and image sensors are the main components of a camera module.

The image sensor is an electronic photosensitive device which converts optical image into an electronic signal. It comprises millions of photodiodes and acts as an image receiver in digital imaging device. The worldwide technological proliferation is due to increase in demand for different electronic devices is expected to grow camera module market with a CAGR of 16.2% in the forecast period.

Camera module industry is majorly driven by the increase in demand for consumer electronics followed by the growing market of advanced driver assistance system in automobiles. Advanced driver assistance systems (ADAS) provide safety features like parking assistance, collision avoidance, and lane-departure warning.

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Another factor responsible for the growth of camera module market is the machine vision technology which helps in positioning, measurement, identification, verification and in-flaw detection in numerous industries. The growing trend of selfie has propelled the market players to integrate cameras in most consumer electronics. Also, the installation of security cameras in residential and commercial areas is predicted to boost the market in future.

To improve the camera quality and enable visibility conditions at night, the market players are offering Night Vision cameras. These cameras provide wide-angle view under limited visibility conditions to the user. The latest innovation by a key player, Autoliv offered Night Vision which is embedded with infrared technology and helps to analyze and capture images irrespective of the vehicle’s motion. It detects pedestrians accurately as compared to the traditional cameras and headlights. The advent of night vision camera is hence another key factor that impacts the growth of camera module industry positively.

The 3D image sensors for indoor navigation, advancement in image storing and expansion of 4K pixel technology are the upcoming opportunities for the market. The leading market players are innovating new products and using 3D imaging technology for boosting the market significantly.

However, higher cost and heavy maintenance of camera module is predicted to obstruct the growth of the market in the years to come. The leading market players like Apple, Samsung and LG are speedily expanding their smartphone segment since the mobile imaging in these devices is extensively attracting end-users.

Camera module market is categorized on the basis of technology, application, and geography. On the basis of technology, the market is divided into CMOS camera module and CCD camera module. CMOS module camera is predicted to grow significantly in the coming years due to its advantages over CCD camera module like faster frame rate, low power consumption, easy manufacturing, and low price.

Based on application, camera module industry is divided into smartphone, tablet and PC devices, automotive, medical, industrial & security, and defense & space. The demand for consumer electronics like smartphones, tablets and PC devices is growing explosively as compared to other application areas. Geographically, the market is segmented as North America, Europe, Asia Pacific, and RoW. Asia Pacific is predicted to dominate the market owing to the growing population demanding consumer electronics.

The key players in camera module industry are LG Electronics Inc., Cowell e Holdings Inc., Foxconn Electronics Inc., Chicony Electronics Co. Ltd., Sharp Corporation, Lite-On Technology Corporation, Partron Co. Ltd., Sunny Optical Technology (Group) Company Limited, Toshiba Corporation, and Samsung Electro-Mechanics Co. Ltd.

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Market Segment:

Technology Outlook (Volume, Million Units & Revenue, USD Million; 2012 - 2022)
• CMOS
• CCD

Application Outlook (Volume, Million Units & Revenue, USD Million; 2012 - 2022)
• Medical
• Smartphone & tablet PC
• Automotive
• Defense & space
• Industrial & security
• Consumer electronics

Regional Outlook (Volume, Million Units & Revenue, USD Million; 2012 - 2022)
• North America
• Europe
• Asia Pacific
• RoW

Smart TV Market Is Expected To Witnesses A CAGR Of 9.5% Over The Forecast Period

 Global Smart TV Market size is expected to reach USD 292.55 billion by 2025. A smart TV is also known as “hybrid or connected TV”. It is a television set that could be connected to the internet through Wi-Fi connection. Smart TV is a technological union between computers and flat screen television sets and set-top boxes. It provides complete home entertainment to the users and allows to use all features donned by smartphones or computers. It offers various features like internet accessibility, GPS system, storage capacity, entertainment features such as music, movies& games, and ability to connect other devices like smartphone or tablet.

Smart TV is integrated with internet connection, which allows users to access popular websites including YouTube, Hulu, Facebook, Amazon Prime, & Netflix. It provides a facility to record TV programs. The Smart TV market is expected to witnesses a CAGR of 9.5% over the forecast period as the scope, product types, and its applications are increasing across the world.

The report “Smart TV Market Size & Forecast Report, 2014 - 2025” is available now at https://www.millioninsights.com/industry-reports/smart-tv-market

The rising demand for 4K & HDR resolution TVs ,increasing urban population, changing lifestyles, increasing internet users, growing demand for internet connected multimedia devices, rising disposable income of consumers, high investments in technological advancements by industry players, increasing consumers’ inclination toward high-tech devices, on-going TV network digitization, and rising marketing strategy by key manufactures are the factors anticipated to boost the growth of the market in the forecast period.

However, high cost, lack of awareness about the advancements in developed and under developed nations, rising adoption of smartphones, personal computers or tablets are expected to negatively affect the growth of the market in the forecast period. The market is categorized, based on technology, component, resolution, screen size, screen type, application, and geography.

Screen sizes that could be explored in smart TV include below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, and above 65 inches. The “46 to 55 inches” display category is expected to hold the largest market share over the forecast period. This growth may be attributed to growing consumer preference toward large-screen displays, and features such as high picture quality and high resolution with Dolby digital sound.

Resolution such as 4K UHD TV, full HD TV, HDTV, 8K TV, and others could be explored in smart TV, in the forthcoming years. The “4K UHD TV” segment is projected to grow at the highest CAGR in the forecast period due to their declining prizes and increasing demand. According to CTA (Consumer Technology Association), the sale of 4K smart televisions is growing because of HDTVs. Many companies have adopted the quantum dot technology and the nanotechnology to improve the picture quality. The Smart TV market may be classified into technology such as liquid crystal display, plasma display panel, light emitting diodes, and organic light emitting diode.

Asia Pacific accounted for 30% share of total market in 2016 and is anticipated to hold the largest market share in the forthcoming years due to the presence of key manufacturers, increasing demand for 4K UHD televisions by the end users, and growing disposable income of the consumers. Similarly, consumers’ inclination toward branded products is anticipated to boost the growth of the Smart TV industry in the years to come. Japan and Korea are the major consumers and producers of the smart TVs. Further, North America and Latin America are expected to follow the market in the coming years.

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The key players operating in the Smart TV market are Sony Corporation, Koninklijke Philips N.V., LG ElectronicsInc., TCL Corporation, Hisense, Toshiba Corporation, Videocon Industries, Panasonic Corporation, Onida Electronics, Samsung, Haier Group, Intel Corporation, Microsoft Corporation, Apple Inc., Sharp Corporation, Boxee, Vizio Inc., TELE Systems Electronics S.r.l, Nyxio Technologies Corporation, Logitech International S.A., Yahoo Inc., and Advanced Micro Devices Inc. These market players strongly invest in the expansion of their business and the development to maintain a top position in the market. Also, these players concentrating on new joint ventures, collaborations, agreements, and strategies to improve their production facilities and gain a larger share in the market.

Market Segment:

Resolution Outlook (Revenue and Volume; 2014 - 2025)
• 4K UHD TV
• HDTV
• Full HD TV
• 8K TV

Screen Size Outlook (Revenue and Volume; 2014 - 2025)
• Below 32 inches
• 32 to 45 inches
• 46 to 55 inches
• 56 to 65 inches
• Above 65 inches

Screen Type Outlook (Revenue and Volume; 2014 - 2025)
• Flat
• Curved

Regional Outlook (Revenue, USD Billion; 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East and Africa (MEA)

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