USD 91.95 Billion
Report ID:
SQMIG25E2139 |
Region:
Global |
Published Date: January, 2025
Pages:
193
|Tables:
61
|Figures:
67
Global Television Market size was valued at USD 91.95 Billion in 2023 and is poised to grow from USD 94.8 Billion in 2024 to USD 121.03 Billion by 2032, growing at a CAGR of 3.10% in the forecast period (2025-2032).
The growing working population, increasing urbanization, and rise in disposable incomes along with changing lifestyles are boosting the global television market growth. Also, easy financing schemes and a significant increase in flexible income have led to a reduction in replacement cycles of electronic products like television. Several government policies, such as relaxing custom duties and reduction in central taxes, are supporting the growth of this sector.
The rising online retailing is the key factor for the companies to reach out to more consumers and increase their client base. Growing investments by key players in the latest technologies and a focus on innovative product launches are further anticipated to boost industry sales. However, security vulnerabilities regarding data theft of smart TV users may hamper the market growth during the forecast period.
One of the major obstacles in the market is the faster evolution of technology. Manufacturers in the market need to constantly adapt to changes and they must innovate. Content piracy is another key obstacle facing the market. The unauthorized distribution as well as consumption of copyrighted content not only poses a threat to the revenue streams of broadcasters but also affects market growth and sustainability.
Market snapshot - (2025-2032)
Global Market Size
USD 91.95 Billion
Largest Segment
Offline
Fastest Growth
Online
Growth Rate
3.10% CAGR
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The global television market is segmented into type, distribution channel and region. Based on type, the market is segmented into smart tv, LCD & plasma & LED TVs, CRT and rear-projection TVs. Based on distribution channel, the market is segmented into online and offline. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
As per global television market outlook, the smart TV segment dominated the market and accounted for the largest revenue share of more than 78% in 2024. The segment will expand further at the fastest CAGR during the forecast period retaining its leading market position. This growth is credited to the increasing demand for these products. Smart TVs have advanced applications and features and offer a more significant viewing experience than traditional television. Moreover, the digital transformation of the broadcasting industry coupled with the increasing internet penetration rate across the globe is expected to accelerate the market growth during the forecast period.
As per global television market forecast, LCD & Plasma & LED TVs segment is fastest growing in the market. The increasing demand for 4K display smart TVs from developing regions owing to better picture quality is projected to propel the segment growth during the forecast period. The LCD, plasma, and LED TVs type segments are also expected to showcase steady growth in the years to come. As these televisions are affordable, their demand is expected to increase, especially in the emerging economies. In addition to this, rapid technological advancements in the display of the television are further boosting the market growth.
The offline segment dominated the market and accounted for the highest revenue share of more than 82% in 2024. The segment includes specialty stores, hypermarkets, supermarkets, independent retail stores, etc. Outline of the organized retail sector has ensured better visibility of consumer electronic products. In addition, the rapidly growing organized retail sector in developing economies, such as Japan, India, and China, is further anticipated to boost the product demand during the forecast period. Consumers can view display quality, compare sizes, and explore features hands-on, enhancing confidence in their purchase decisions. Store representatives provide detailed guidance and recommendations tailored to the customer's needs, including advice on installation and warranty options.
The online segment will register the fastest CAGR of more than 18% from 2025 to 2032. This can be attributed to the growing usage and popularity of e-commerce platforms. Major manufacturers are partnering with online retailers intending to reach out to new buyers. Also, an upsurge in sales of television sets mainly through company-owned websites and other e-commerce platforms is further anticipated to drive the growth of the online segment in the coming years. The online segment has rapidly transformed the TV market by offering unparalleled accessibility and convenience. E-commerce platforms such as Amazon, Flipkart, and specialized electronics retailers provide a robust digital channel that caters to modern consumers.
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As per television market analysis, Asia Pacific led the market in 2024 with a revenue share of more than 37% and is expected to continue its dominance expanding at the fastest CAGR during the forecast period. This growth is due to the rising demand for smart TVs from developing countries, such as China, Japan, and India. The increasing middle-class population and rising disposable income are also major factors driving the demand for televisions. Many Chinese companies have entered the market with a partnership with e-commerce platforms to offer products at competitive pricing. Sales of smart TVs in India are expected to rise at a rapid pace as number of domestics and international streaming platforms rise in the country.
Meanwhile, North America is the fastest growing region in the market due to a combination of advanced technological infrastructure, high consumer purchasing power, and evolving preferences for premium home entertainment solutions. Growing adoption of smart home solutions, rising availability of novel smart TVs, and preference for streaming over traditional cable among consumers are expected to bolster the demand for smart TVs in this region. Moreover, the presence of leading streaming and entertainment content providers in the United States is also making it a highly opportune market in the North American region followed by Canada in the long run. The availability of high-speed internet connectivity is also estimated to favor the adoption of smart TV in this region.
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Rising Disposable Income
Growing Popularity of OTT Platforms Leading to Increased Television Demand
Price Sensitivity and Budget Constraints
Infrastructure Challenges in Rural Areas
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The global television industry is highly competitive, driven by technological advancements, brand reputation, and diversified pricing strategies. Samsung leads with cutting-edge developments like Neo QLED and micro-LED displays, while LG excels in OLED technology, appealing to premium customers. Dominated by global leaders like Samsung, LG Electronics, Sony, and TCL, the market is shaped by continuous innovation in display technologies such as OLED, QLED, and 8K resolutions.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to SkyQuest analysis, the growth of the media and entertainment sector, the rising popularity of streaming platforms such as Netflix and Amazon Prime, and the rising affordability of LED and LCD TVs are some of the prominent drivers boosting the global television market growth. With the growing prominence of technology such as 4K and 8K, manufacturers are readily focusing on the development of high-resolution TVs in the Indian market. Market players are increasingly launching affordable smart TVs in the country to increase their market penetration. For instance, Xiaomi announced the launch of a 32-inch smart TV in May 2024, priced under Rs 15,000, and with a 4-star BEE certification, making it more cost-effective and eco-efficient compared to its previous models.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 91.95 Billion |
Market size value in 2032 | USD 121.03 Billion |
Growth Rate | 3.10% |
Base year | 2024 |
Forecast period | (2025-2032) |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Television Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Television Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Television Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Television Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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