The United States smart TV market is expected to grow at a CAGR of 10.5% during the forecast period. Increasing adoption of OTT services leading to the preference of smart TVs as a typical streaming entertainment product and Us-China trade dispute prompting smart TV vendors dependent on Chinese manufacturing to increase shipments for building safety stocks are the two major factors driving the growth of smart TV in the United States.
– Some brands from other countries such as models from Korean companies like Samsung and LG or from Japanese companies like Sharp and Sony could escape any price increases. Still, unfortunately, the rules of origin aren’t always clear. High-end TVs from Samsung and LG, for example, are often assembled in Mexico, and the White House has threatened to impose new taxes on products coming from south of the border. So those TV sets could still be subject to new tariffs in the future, which might hamper the growth of the market due to the price hike.
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Key Market Trends
Increasing Adoption of OTT Services Leading to Preference of Smart TVs as Common Streaming Entertainment Product
– Streaming media such as Apple TV, Amazon Fire TV, and Google Chromecast are changing the consumers’ viewing experience. Several manufacturers are teaming up with OTT (over-the-top) content and device providers to provide built-in features with no further requirement of a set-top box. For instance, TCL Corporation has teamed up with Roku, Inc. and introduced a 4K HDR Roku TV.
– The primary strategy adopted by OTT service providers is based on pricing. They are rolling out services that are competing with the ones offered by existing players, but at a lower cost or the same cost, but more flexible or with added features.
– Bundle of streaming services is also being offered by the industry players in order to remain competitive in the market. For instance, Disney offers consumers the option to bundle Disney+ with Hulu and ESPN+ for USD 12.99 per month (a USD 5 per month discount). CBS offers a bundle of Showtime and CBS All Access starting at USD 14.99 per month (a USD 2 per month discount).
United States Smart TV Market
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