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Smartphone TV Market 2019 Insights by Leading Companies and Emerging Technologies till 2023
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In this rapidly changing world of technology, smartphone TV market is projected to show major growth prospects during the forecast period. The continuous developments and increasing technological advancements are major factors leading to rapid adoption of smartphone TV services. Smartphone TV market is estimated to exhibit high growth potential during the forecast period owing to increasing popularity of data analytics and rapid growth in the use of smartphones and digital platforms. Major driving factor in the growth of smartphone TV market is the increasing user base on social media platform. Owing to this, the pay TV is expected to dominate the video content market. Smartphone TV is basically TV watched on a smartphone. It offers live streaming of video content on the handheld smartphone anytime and anywhere. Rapid growth in smartphone TV market is owing to the rising availability of high-speed data services such as 3G, 4G, and 5G. Owing to this, users now prefer watching videos and TV on their smartphones.
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Smartphone TV market has been segmented on the basis of usage and service. The service segment is further bifurcated into free-to-air and pay TV services. Out of which, the pay TV services accounted for the largest market share and will continue to lead the market during the forecast period. This can be attributed to the rise in mobile TV subscriptions and increasing adoption of advanced technologies. Verizon Communications has come up with 5G services to launch in the U.S. by the end of this year. Advancements like these in wireless technology are responsible for driving the growth of smartphone TV market.
Major challenges faced in smartphone TV market are the power consumption and processing power. Power consumption is increased due to continuous viewing of content on smartphones, hence battery is easily drained. Other challenge is that the processing power of the smartphone needs to be high, as viewing TV on smartphone will not be supported by a simple phone. Moreover, the display resolution needs to be high as the screen size is supposed to be small.
The other restraining factor in the growth of smartphone TV market is the connectivity services. If the connectivity is not high speed, then there will hindrance in the growth of smartphone TV market.
Smartphone TV Market Segmentation
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