The Global Smart TV Market is projected to touch a valuation of USD 292.55 billion by 2025. Smart TVs are next-generation television sets characterized by their high-quality resolution of pictures and low mass. Technological developments in television sets and premium content offerings by Over-The-Top (OTT) providers have garnered a significant interest among consumers. The advent of smart homes, Internet-of-Things (IoT), and craving for high-quality content are pushing the need for better entertainment units.
Types of smart TVs include 4K UHD TV, HDTV, full HDTV, and 8K TV. Xiaomi, one of the emerging manufacturers of consumer electronics, had launched the first smart TV called Mi TV 4 in India in February 2018. The presence of flagship stores and partnerships with online retailers has resulted in easy availability of these TVs. The focus on high-resolution imagery has led to the launch of High Dynamic Range (HDR) TVs by major enterprises such as LG and Sharp Corporation. This can be attributed to rising demand for 3D entertainment and rapid switch to the latest technologies by major entertainment and gaming platforms. In January 2018, Sony and Panasonic Corporation collaborated with Japan Broadcasting Corporation (NHK) to develop 8K TVs.
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Manufacturers have embedded gesture recognition features in their TV units to entice consumers. In addition, they are creating their own operating systems to provide an enjoyable experience to users. However, majority of smart TVs are Android-based and compatible with external streaming devices such as Amazon Firestick. The use of intelligent voice assistants to remotely control the TV and other compatible devices will be a boon for technology enthusiasts.
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