The Digital TV SoC Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Digital TV SoC Global Market Report 2024, The digital tv soc market size has grown rapidly in recent years. It will grow from $9.93 billion in 2023 to $11.22 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to transition to digital broadcasting, consumer adoption of smart tvs, rising demand for high-definition content, government initiatives for digitalization, proliferation of digital entertainment devices.
The digital tv soc market size is expected to see rapid growth in the next few years. It will grow to $17.43 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to emergence of 4k and 8k technologies, integration with artificial intelligence (ai), growing demand for smart home ecosystems, evolution of interactive and immersive content, rise in internet protocol television (iptv). Major trends in the forecast period include connectivity standards, energy efficiency, interactive and immersive experiences, content security and digital rights management, global market expansion.
The increase in smart tv adoption is expected to propel the growth of the digital TV SoC market going forward. Smart TVs refer to advanced televisions that have internet connectivity and offer interactive features beyond traditional television viewing. The increase in smart tv adoption is mostly driven by greater availability and accessibility of high-speed internet, increasing popularity of online streaming services, enhanced user experience, and features, where digital TV SoCs are used in smart TVs to enable their interactive features and functionalities, such as video streaming, gaming, and social media applications. For instance, according to the Federal Register, a US-based official journal of the federal government, smart TVs constituted 52% of all TV sets consumed in 2021, which is a significant increase from 45% in 2020. Therefore, the increase in smart tv adoption is driving the growth of the digital TV SoC market.
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The digital tv soc market covered in this report is segmented –
1) Digital TV SoC Market By Display Technology: LCD (Liquid Crystal Display), LED (Light Emitting Diode), OLED (Organic Light Emitting Diode), QLED (Quantum Dot Light Emitting Diode)
2) Digital TV SoC Market By Application: Smart Televisions (TVs), Set Top Boxes, Other Applications
3) Digital TV SoC Market By End-User: Residential, Commercial, Other End-Users
Top Major Players
NXP Semiconductors cs Co. Ltd.
The adoption of artificial intelligence into digital TV SoC have emerged as a key trend gaining popularity in the digital tv SoC market. Major market players are concentrating their efforts on creating technological advanced products to strengthen their position in the market. For instance, in August 2022, MediaTek, a Taiwan-based semiconductor company launched Pentonic 700, a new chipset for 120Hz 4K smart TVs. The Pentonic 700 serves as a system-on-chip (SoC) for smart TVs, boasting a robust AI processing engine designed for high-end 120Hz 4K TVs. It comes equipped with features like Dolby Vision IQ, integrated 4K120 MEMC and TCON, along with optimizations for gaming. The chipset’s AI processing unit (APU) is compatible with MediaTek’s AI-Super Resolution, AI-Picture Quality (AI-PQ) Scene Recognition, and AI-PQ Object Recognition technologies. These functionalities contribute to advanced edge smoothing and detail reconstruction.
The digital tv soc market report table of contents includes:
1. Executive Summary
2. Digital TV SoC Market Characteristics
3. Digital TV SoC Market Trends And Strategies
4. Digital TV SoC Market – Macro Economic Scenario
5. Global Digital TV SoC Market Size and Growth
…..
31. Global Digital TV SoC Market Competitive Benchmarking
32. Global Digital TV SoC Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Digital TV SoC Market
34. Digital TV SoC Market Future Outlook and Potential Analysis
35. Appendix
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