Drivers and Restraints
The global market for smartphone TV technology, according to the report published by Market Research Future (MRFR), is poised to register a substantial market valuation at a striking CAGR over the assessment period.
In this rapidly changing world of technology, the smartphone TV market is projected to show significant growth prospects during the forecast period. The constant developments and increasing technological advancements are major factors leading to the rapid adoption of smartphone TV services. Major factors fueling the growth of smartphone TV market is the increasing usage of smartphones and tablets around the globe. The media and entertainment sector has been one of the fastest-growing industries across the globe. Due to the acceptance of OTT content, there is a momentous growth in the smartphone TV market. Increasing demand for video TV subscriptions is driving the growth of the smartphone TV market. Smartphone TV providers are anticipated to diversify their service offering in order to gain a competitive edge over other market players in their respective markets. These factors are paving the way for potential growth opportunities for the smartphone TV market over the review period.
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The major market players in smartphone TV market are MobiTV, Inc. (U.S.), AT&T, Inc. (U.S.), Comcast Corporation (U.S.), Verizon Communications, Inc. (U.S.), Sky PLC (U.K.), Charter Communications (U.S.), Orange S.A. (France), Bell Canada (Canada), Consolidated Communications, Inc. (U.S.), Bharti Airtel Limited (India), among others.
The market players of the global smartphone TV market are expected to invest extensively in research and development activities owing to the competitive nature of the market. This is expected to create a vast scope of growth opportunities in the foreseeable future.
The smartphone TV market has been bifurcated increasing usage and service. The pay-TV services accounted for more than half of the total demand for the smartphone TV market. This is attributed to the rising availability of high-speed data services such as 3G, 4G, and 5G.
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The geographical analysis of the global smartphone TV market is conducted in regions such as North America, Europe, and the Asia Pacific, along with the rest of the world.
As compared to other regions, the market for smartphone TV in North America is anticipated to witness significant growth. North America is expected to hold the market share of the smartphone TV market during the forecast period. The developed nations of the U.S and Canada are anticipated to drive the growth of the smartphone TV market. This is owing to the developed countries in that region. In addition to this factor, the region also has a well-established infrastructure and enables high penetration of smartphones.
Across Europe, developed countries, such as France, Germany, and the U.K., are projected to drive the growth of the smartphone TV market. In Europe, the presence of innovative infrastructure and the increasing adoption of technology and technological progressions in several countries is driving the market growth of the smartphone TV market. Early adoption of developing and advanced technologies and augmented business needs are other momentous factors fueling the growth of the smartphone TV market.
The Asia pacific is also assessed as one of the major regional markets for smartphone TV technology and is expected to register a substantial market share over the review period. This is attributed to the increasing digitization across the region, especially in emerging economies such as India, China, South Korea, Malaysia, Singapore, among others. The massive youth population in these regions, increasing adoption of smartphones, and the immense popularity of television and visual content in this region are the major driving factors for the growth of the smartphone TV market in the Asia Pacific.
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