Market for Android TVs to grow to $231 billion by 2026Tuesday, January 14th, 2020
Android TV Market Size to Reach US$ 231 Billion by 2026
- Acumen Research and Consulting, Recently Published Report on titled “Android TV Market Size, Share, Growth, Company Sales, Trends and Forecast, 2019 – 2026”
LOS ANGELES — The global android TV market is expected to grow at a CAGR of around 20% over the forecast period 2019 to 2026 and expected to reach the market value of over US$ 231 billion by 2026.
Android TV is a mobile operating system that has created and produced by Google for digital media consoles, set-top boxes, soundbars, and TVs. A user interface for video searching and voice scanning, the information surface from different media apps and services, and convergence with other new ones, acts as a substitute for Google TV. Android TVs can also work to enhance its usability with PCs and notebooks.
In 2018, North America held largest share due to high individual purchasing power which is one of the major factor that drives the growth of market. Advances in the technology sector has led to a growing number of smart homes and offices using android TV, as well as its first purpose for entertainment, include DVDs, music, internet applications and the use of computers such as Amazon TV, Netflix, Hulu and Google, are important.
The rising disposable income has enabled consumers to buy advanced technological TV sets that fit with their higher standard of living. In addition, consumers prefer high quality video and audio content as well as internet connectivity. Therefore, high standard of living and rising usage of online content will lead to the development of the android TV market, which is likely to have a positive impact on market growth.
4K UHD Segment is Anticipated to Account for a Major Share of the Market Demand
- During the forecast period, the 4K UHD segment is expected to achieve significant growth in the android TV market. The decrease in these TV costs stimulates customers and increases competition in emerging economies. The rise of the multichannel audio Sound, which offers the theater experiences on greater screen, is synonymous with revolutionary functionality, such as high resolution and good picture quality.
- The standard resolution for TVs larger than 40 inches now is actually the Ultra-High Definition. In 2018, Consumer Electronics Show (CES), industry experienced a glimpse of the next step at 8K i.e. a concept of higher resolution. 4K Ultra-high definition (UHD) in android TV is expected to boost segment demand over the forecasted period by the adoption of innovative technologies such as Quantum dot LED (QLED).
The 46 to 55 inch screen size segment is likely to dominate the android TV market. Consumers are mostly looking for image quality; the 4K UHD television system is preferred for larger TV sets. The dropping prices and the 4K technology installation have led to a change in the preferences of screen sizes for the consumer whereas, 4K technology is not able to deliver picture quality on small screen size. For instance, Samsung Electronics Co., Ltd. also launched the full 4K TV line-up from 55 to 85 inch in order to address the growing demand of large-screen displays. The OLED Bravia 4K sets in 55inch, 65inch, and 77inch were released by Sony Corporation in January 2017.
Some of the key players operating in the android TV market, profiled in the report include Sony Corporation, LG Electronics Inc., Panasonic Corporation, Hisense, TCL Corporation, Sharp Corporation, XiaoMi Corporation, Tosibha Corporation, Haier Inc., Skyworth Digital Holding Ltd., One Plus and Others.
Major Key Trends for Consumer Electronics Industry
- 5G becomes mainstream: As a service 5G is intended to improve health and enable comprehensive mobile networking and many other advantages.
- Dominance of Artificial Intelligence (AI): Major companies such as Mercedes, Samsung, Intel, and Hisense announced their strategies. Home Brew-an AI-enabled beermaker, was confirmed by LG, while Hisense announced three new quantum dot projection TVs with AI chips that improve the viewing experience.
- Voice-assisted personal entertainment systems: 8K TV, the newest developments in personal entertainment, establish an image quality, brightness and resolution environment that varies. The focus will be heisted from manufacturers that plug smart systems in their newest models.
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