MarketResearch.Biz announces publication of its most recently generated research report titled, “LATAM Smart TV Platforms Market by Screen Resolution (4K TV, 8K TV, HD TV), Panel Type (LCD, LED, OLED, QLED), Screen Size (Below 30 Inches, 32-39 Inches, 40-47 Inches, 56-65 Inches, Above 65 Inches), Operating Platform (Android, Tizen, WebOS, Roku, Other Operating Platforms) and Country (Mexico, Brazil, Argentina, Peru, Venezuela, Costa Rica, Dominician Republic, Rest of Latin America) – LATAM Forecast to 2031.”, which offers a holistic view of the LATAM smart TV platforms market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2020–2024) is projected to be over US$ 41.3 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.
A smart TV, also known as a connected TV, is an internet-run device that has an operating system with its own app service. A smart TV offers consumers a complete home entertainment solution, and enables its users to enjoy content beyond what is available on conventional TV channels. These devices are an updated version of smartphones, and are a technological convergence between computers, flat screen television sets, and set-top boxes. Smart TVs provide a higher computing capability and connectivity compared to modern conventional TVs. Smart TVs provide a wide range of functions such as, on-demand content from different applications such as Netflix, Amazon, YouTube, etc., and access to music streaming services like Spotify, etc., as well as the ability to connect with other wireless devices. These devices also provide channels with paid cable and satellite broadcasting or Over-the-Air (OTA) transmissions. In addition to this, smart TVs also have additional hardware and connections, as well as TV-operating systems and Graphical User Interfaces (GUI). These adaptations help viewers access and control the various functions of connected devices, as well as in streaming content from internet video services.
LATAM Smart TV Platforms Market: Market Dynamics
The surging popularity of Over-The-Top (OTT) services content in the region of South America is leading smart TV manufacturers to pre-install OTT applications in their products. In addition, OTT platforms such as Netflix and Amazon Prime are increasingly providing diverse, original, and specialized content, which is accordingly encouraging consumers to subscribe as well as renew existing subscriptions. All these factors are positively influencing the revenue growth of the global smart TV market. Technological developments in the field of consumer electronics, in terms of design and features are expected to further amplify the sales of smart TVs across several regions. In addition to this, the adoption of 4K and higher resolution TV sets with the availability of different screen sizes, as well as the increasing penetration of OLED and QLED displays technologies that ensure excellent color, lighting, sharpness, and contrast as per consumer requirement are also factors that are expected to further augment the financial growth of this given industry.
The COVID-19 pandemic has resulted in the slowdown of critical trade activities across several countries. There is a possibility of a looming economic recession, which is also likely to adversely impact future investments across various sectors. Several companies are facing short-term operational problems due to supply chain restrictions. These factors are anticipated to influence future prospects for additional revenue growth. However, as these lockdowns are gradually lifted, and economies begin to recover, this market is expected to impact positively.
The integration of the internet has become a basic feature present in most televisions sold across the South American region. Several companies are looking to establish broadband internet services, and are subsequently bundling TV services with internet packages, to provide households with higher speed connectivity.
LATAM Smart TV Platforms Market: Market Forecast
The comprehensive research report comprises a complete forecast of the LATAM Smart TV Platforms market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the LATAM Smart TV Platforms market is estimated to expand at a moderate CAGR of 6.8% during the forecast period.
LATAM Smart TV Platforms Market: Segmental Snapshot
The market report has been segmented on the basis of screen resolution, panel type, screen size, operating platform, and country. The screen resolution segment includes 4K TV, 8K TV, HD TV. The panel type segment includes LCD, LED, OLED, QLED. The screen size segment includes Below 30 Inches, 32-39 Inches, 40-47 Inches, 56-65 Inches, above 65 Inches. The operating platform includes Android, Tizen, WebOS, Roku, other operating platforms. The country covered in the analysis are Mexico, Brazil, Argentina, Peru, Venezuela, Costa Rica, Dominician Republic, Rest of Latin America.
By screen resolution: The HD TV segment is expected to register a CAGR of over 7.6%, thereby accounting for highest revenue share among the screen resolution segments.
By panel type: The LED segment is expected to register a CAGR of over 7.8% over the forecast period, thereby accounting for highest revenue share among the panel type segments.
By screen size: The 32-39 Inches segment is expected to register a CAGR of over 6.7% over the forecast period, thereby accounting for highest revenue share among the screen size segments.
By operating platform: The android segment is expected to register a CAGR of over 7.8% over the forecast period, thereby accounting for highest revenue share among the operating platform segments.
By country: The market in Brazil accounted for highest revenue share in the LATAM Smart TV Platforms market in 2020, and is estimated to register a CAGR of over 7.7% between 2020 and 2031.
LATAM Smart TV Platforms Market: Competitive Analysis
The research report on the LATAM Smart TV Platforms market includes profiles of major companies such as Samsung Electronics Co. Ltd., Sony Group Corp., Panasonic Corporation, LG Electronics, Xiaomi Corporation, Koninklijke Philips NV, Sharp Corp, TCL Technology Group Corp, Hisense Visual Technology Co., Ltd., Vizio Inc.
The LATAM Smart TV Platforms Market: LATAM Industry, Size, Share, Growth, Trends, and Forecast, 2020–2031 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the LATAM Smart TV Platforms Market for 2020–2031.
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