In just several years, smart TVs have taken the market over. For some time, people thought that laptops and mobile devices would replace big screens. Yet, the situation is quite different from this forecast. Let’s talk about how this happened and what is to be expected in the future.
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Why Are Smart TVs Popular?
Progress is never staying in one place. Technology is all about meeting consumer demands and making our lives easier. For example, the internet provides unprecedented access to information and services of all kinds. It enables distance learning and helps students study effectively.
For instance, any college student struggling with academic writing can find lots of examples and tips online. They also can get immediate help from professionals. If you ask, “Can I do my paper with WritePaper writers?” the answer is always yes. Experienced authors offer writing, editing, and proofreading assistance with any type of college assignment. This way, students can collaborate with experts and work on their skills.
It is an answer to a demand for a more individualized approach to learning. A similar principle applies to the TV market. For some time, people presumed that the internet would replace it completely. And the smaller and more flexible devices will replace the big screens. However, it didn’t happen. Here are the main reasons why:
- TVs, in general, experienced significant price reductions. Today a TV set often costs less than a laptop or high-end mobile gadgets.
- Smart TVs incorporate internet, on-demand streaming, and traditional television all in one;
- The functionality continues to progress according to consumer demand;
- Transformation of the broadcasting industry with more focus on streaming and on-demand programs;
- There is huge progress in terms of software and hardware quality.
As a result, although you can still buy classic sets, they have almost no benefits. Why would you pay the same price for a less functional model? The producers met the requirements in terms of quality, features, and price. That’s why in just a decade, the product took over.
How Widespread Are Smart TVs?
According to Strategy Analytics, these devices covered 33% of the global market in 2013. Today, they cover 89% of the market in India, for instance. One of the reasons for such fast adoption is that the technology prices get more accessible.
It is no longer a luxury item, and many more people have the ability to buy such devices. Also, the cycle of replacing them is getting shorter as new options arrive on the market. Today, a big screen might be even the cheapest gadget in the house if you compare it to a PC, laptop, or smartphone.
Another study done by Magid shows that consumers prefer smart TVs to connected devices in the major factors, such as:
- Resolution quality;
- Performance;
- Reliability;
- Remote control.
Mordor Intelligence offers even more data on the global market. The CAGR for smart TVs is expected to reach 3.17% in 2022-2027. There is a mutual influence between the change in the broadcasting industry and the production of smart TVs.
On one hand, people are more interested in on-demand programs and streaming services like Netflix, Hulu, HBO, or Disney+. On the other hand, smart devices allow one to access them easily and combine them with other internet-powered features. It ensures a better user experience and many other benefits like game-based learning opportunities.
The Current Market Trends
The market is rapidly growing and developing. It is safe to say that the overall focus is on making the user experience more individualized. Also, producers improve the hardware and software components for the best performance, resolution, and in-built functionality.
Today one can access streaming services, surf the internet, use favorite apps, or enjoy voice search. It makes the experience much more comprehensive and inclusive. For example, you might be watching a documentary on wildlife and want to check some facts immediately. You can Google it without switching to other devices, which promotes better learning and more access to various sources of information.
Here are some trends that dominate the smart TV market today.
Better Interface
The smart TV interface is already intuitive and user-friendly. However, there is always a place for improvement. Now you can easily update the software and access all the new apps or opportunities without changing the device. This is important as the broadcasting industry is also transforming daily. And customers want to have access to new exciting things.
Also, remote control devices become less bulky and more convenient. Now there are buttons for favorite streaming services and easy access.
Available Content
Another huge trend is the provision of on-demand content available even if you do not have streaming subscriptions. For example, Samsung and VIZIO have their own TV services. There are over a hundred channels with all types of content, from comedy to documentaries and children’s programs.
Some manufacturers also partner with existing services like Apple or Amazon TV to provide their content right from the start. It means that applications developed for mobile gadgets are now available on a big screen. And it also ensures more affordability of such content.
Powerful Operating Systems
Many producers work on making the devices even more versatile. Not only will people be able to search the internet from the TV, but they could also run various apps, widgets, and games. It is possible as the computing power of devices grows and they have internet access, which allows regular software updates.
Now you can search the web, download content, share it, visit social media, and chat with a smart TV. And voice search functionality makes it even easier as you do not need to type anything.
Better Picture Quality
It is forecasted that 4K UHD will grow in the near future. There is always a strive to improve the picture quality and make it more vivid. This also meets the direct consumer demand. One can expect better sound as well, including Dolby Digital. So you can have a movie theater experience at home.
In Summary
Smart TVs took over the market because they offer customers advanced functionality and many opportunities. They follow the broadcasting transformation and incorporate traditional television with internet capabilities. Another major reason is the reduction of the prices for this technology.
