Smart TV market to surpass US$430 billion in value

The global smart TV market is set to surpass US$430 billion in value by 2028.

According to new figures published by Coherent Market Insights, the market was valued at US$143.6 billion in 2020 and will register a CAGR of 15.3% over the coming years to reach US$436.2 billion in 2028.

A significant driver of this growth will be the increasing usage of high-speed internet, improvements to living standards and rising disposable income in both developed and developing countries. 

The report goes on to predict that the OTT market will reach US$295.2 billion by 2028 from US$85.2 billion in 2020 with a CAGR of 13.5%. 

While North America was the leader in the global smart TV market at the end of 2020 and will continue to be the leader in the forecast period, Asia Pacific will experience significant growth.