Smart televisions have transformed the televisions industry and these televisions offer a broad spectrum of new features through Internet-connected services, which were not available with the traditional CRT televisions. Smart TVs have Wi-Fi capability or an Ethernet port that allows the user to stay connected to the Internet. The global TV market is currently in the fourth generation of connected TVs, with major manufacturers competing for TV models with the latest innovations in user interface, content aggregation, and application development. Smart TVs are equipped with an operating system to run apps and widgets, which can stream videos and music. It enables the user to access various new functions such as recording TV programs and internet surfing, by which user access sites can like Google, Facebook and various others with the help of Wi-Fi connectivity. The Smart TVs have thus, made it possible for a user to run applications that were developed earlier for smartphones. The major usage of smart TVs is for watching online movies, weather information, TV shows, playing games, listening music, browsing social networking, reading news, viewing photos, playing social games and making internet voice calls.
The growing popularity of 3D movies and availability of 3D videos and 3D movies on the internet has led to the increased demand for 3D television. In addition, the price of 3D TVs is also expected to reduce in the coming years as the competition among manufacturers surge. The price cut in the coming years will deepen the reach of 3D TVs in developing economies offering huge growth potential. The global 3D TV market has been segmented into plasma 3D, LCD 3D and LED 3D TVs.
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On the other hand, there is high demand for electronic goods that are energy efficient and this has boosted the demand for LED TVs. LED TVs offer reduction in size and offer high quality of video including High Definition. This has attracted a large base of consumers who were earlier using traditional CRT TVs. LED TV manufacturers are currently focusing on the development of TVs with better viewing angles. This has given rise to the development of curved LED TVs, which offer superior viewing angles. These curved TVs incorporate High Definition (HD) resolution and other smart features. On the contrary, the price difference of LED TV and traditional CRT TV is still huge, which is hindering the quick uptake of LED TV primarily in the developing economies. Moreover, growing popularity of IPTV and increasing number of internet providers for TV shows and online sport telecasts is further challenging the growth of LED TVs.
Asia Pacific is the leading geographical segment for global 3D, LED and smart TVs primarily led by countries such as Japan and Korea. North America and Europe follow Asia Pacific with significant number of domestic manufacturers. The 3D, LED, smart TVs market is highly fragmented, and there is intense competition among top players in the market to offer innovative features at efficient cost. In addition, the players need to keep pace with the rapidly changing technology.
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OLED TVs and curved smart TVs have evolved and these segments are expected to find large consumer base in the coming years. Thus, some of the key players in the market are currently focused on developing and promoting TVs in OLED and curved TV segments. Some of the key players offering 3D, LED, HD and Smart TVs include LG Corporation, Panasonic Corporation, Sony Corporation, Samsung Electronics, Koninklijke Philips N.V., Toshiba Corporation, Sharp Corporation, TCL Corporation and Vizio, Inc. among others.