The market for smart TVs was projected to reach 268.9 million units globally in 2020, and from 2021 to 2028, it is anticipated to grow at a CAGR of 20.8%. The demand for smart TV knowledge is driven by the growing use of such devices. But there are many difficulties in creating smart TV apps. Discover what they are and how our development team addresses them to give clients a competitive advantage and boost profits.
Online streaming providers and smart TV app development manufacturers now have a mutually beneficial relationship that benefits both parties. Large screens and rapid connectivity are advantageous to streaming services, while the abundance of possibilities provided by streaming services is utilized by smart TV manufacturers.
Other factors that have boosted demand for smart TVs include rising consumer preference for OLED and QLED screens as well as the introduction of TV sets with 4k and 8k resolutions. The following are some striking figures that further demonstrate the growth of the smart TV market:
At a CAGR of 10%, it is predicted that the smart TV market will reach $284.19 billion in 2025. In 2018, smart TVs made up about 70% of all television sales worldwide. The increase of the worldwide TV market is being driven by the surge in software breakthroughs for smart TVs and improvements in display resolutions. This is anticipated to expand at a CAGR of 21% from 2020 to 2023.
What are Smart TV Apps?
The smart TVs include an operating system similar to that found in mobile devices, allowing users to download apps and directly access digital content. For instance, Sony and Samsung TVs use Android, and LG TVs use WebOS. On their cellphones, users may quickly and easily download and install new apps from the TV marketplace. As a result, smart TV apps have become more popular.
Users of today are considerably better informed, and they are continuously looking for cutting-edge apps with more advanced functionalities and user-friendly design. As a result, more companies are making investments in the creation of new smart TV apps.
Different Categories of Smart TV App to help you know how to create a smart TV app:
- Video Streaming
A flurry of video streaming TV apps have recently been available for people to utilize in place of cable. Users of these apps can access a huge selection of movies and TV series. Additionally, consumers can view live TV through their web browser.
- Gaming Application
This is another well-liked group of smart TV applications. With the use of a wireless keyboard or a Bluetooth controller, users may play virtually any game directly on the TV, thanks to the gaming apps that were created with TV limitations in mind.
- Learning TV App
Recently, a plethora of educational TV apps have opened up a world of improved learning for kids. By acquiring new abilities, these applications help youngsters widen their horizons and make studying much more engaging and participatory. Additionally, the enormous television screens raise the quality of the experience.
- Marketing & Advertising App
Promotional adverts shown during video streaming sessions are one of the ways smart tv apps make money. Consequently, a smart TV app with marketing and advertising management is another choice.
Why Develop Apps for Smart TV?
The expansion of several streaming companies has been considerably aided by the global over-the-top services market, and this trend is expected to continue as further developments are made possible by the rising need for Smart TV app development.
Smart TV, mobile, and 5G infrastructure are expected to bolster the streaming market and fuel the creation of original content as internet penetration continues to advance.
By giving customers larger screens to display its grandeur, smart TV app development services are consistently proven to be another platform to get involved with. Additionally, it enables consumers to enjoy enhanced surround sound and has favorable influencing adoption rates like never before.
The popularity of smart TVs among consumers is rising and will continue to do so in the near future. Therefore, if you have a great idea for a smart TV app and want to make money with steady growth, you need to get started right away. With the help of VPlayed, one of the best OTT platform providers, you may create an inventive and dynamic smart TV app to start your video streaming business journey and earn in millions.