Nigeria Smart TV Market (2020-2026) | Revenue, Companies, Growth, Value, Share, COVID-19 IMPACT, Industry, Trends, Forecast, Size, Outlook & Analysis

Nigeria Smart TV Market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by China, and Hong Kong SAR. It has registered a growth of 3.03% over the previous year. While China, Hong Kong SAR registered a growth of 953.43% as compared to the previous year. In the year 2017, China was the largest exporter followed by Sweden. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Nigeria has a Herfindahl index of 3136 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of  6009 which signifies high concentration in the market.

Nigeria Smart TV Market - Export Market OpportunitiesLatest 2023 Developments of the Nigeria Smart TV Market

Nigeria Smart TV Market is rising effortlessly and there are numerous developments going on in the market that support the growth of this market. The market in the nation is experiencing growth and it is primarily driven by the rising middle class, rising disposable incomes, as well as the growing trend of virtual entertainment consumption. The rising availability of cost-effective internet services and internet infrastructure also contribute to the smart Tv adoption in the nation. People seek more connected entertainment alternatives with easy access to social media and online streaming platforms. It is with the help of smart technology that smart TVs are evolving. Manufacturers in the market incorporate features such as voice control, 4K resolution, HDR (High Dynamic Range), integration with smart home ecosystems, and AI-powered interfaces. These advancements improve the viewing experience and make smart TVs more user-friendly.

Topics Covered in Nigeria Smart TV Market Report

Nigeria Smart TV Market report thoroughly covers the market by screen type, panel types, resolution type, distribution channel, and end-use. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Nigeria Smart TV Market Synopsis

Nigeria Smart TV Market has been experiencing growth and is projected to rise more effectively in the near future. One of the key factors that drive the market growth significantly is the adoption of advanced technology by manufacturers as it helps in coming up with the best and most advanced products with advanced features.

According to 6Wresearch, the Nigeria Smart TV Market size is anticipated to boost more during 2020–2026. This sector has gradually become one of the significant sectors by attaining significant growth. These smart TVs are evolving in the country with the adoption of smart technology. Features such as 4K resolution, HDR (High Dynamic Range), integration with smart home ecosystems, and AI-powered interfaces drive the Nigeria Smart TV Market Growth. Both local as well as international brands are competing in the market. Players such as Samsung, LG, TCL, Sony, and Hisense are popular international brands, while Polystar, Haier Thermocool, and Scanfrost are some local players in the market. The emergence of e-commerce platforms has also made it extremely easy for people to buy smart TVs online. Platforms such as Konga, Slot, and Jumia offer a different and wide range of TVs as well as they deliver them to the doorsteps of their customers. Online retail has also contributed to the growth of the industry by providing competitive pricing and convenience. Smart TV manufacturers focus on the localization of content to cater to the market need in the country. The pricing of these TVs become more competitive and it makes them accessible to a wider range of consumers. These factors are contributing to the Nigeria Smart TV Market Share.

COVID-19 Impact on the Nigeria Smart TV Market

With the lockdown as well as restrictions in place, people in the country spent more time at their homes, which led to a rise in demand for entertainment as well as smart TV products. Consumers during the pandemic turned to smart TVs for gaming, streaming content, and other virtual entertainment alternatives, resulting in a surge in sales. The coronavirus pandemic disrupted supply chains globally, which affected the production as well as distribution of advanced TVs. Logistical challenges, shortages of components, and factor shutdowns caused delays in manufacturing as well as product availability. There was a shift towards online sales channels as physical stores operated under restrictions. E-commerce platforms in the country became essential for consumers to buy smart TVs, as well as retailers had to adopt new strategies in order to focus on online sales and contactless delivery alternatives.

Key Players Operating in the Market

Some of the most significant players in this market include:

• LG Electronics
• Samsung Electronics
• Sony
• TCL
• Hisense
• Haier Thermocool
• Polystar
• Scanfrost

Future of the Nigeria Smart TV Industry

The market is one of the vital markets in Nigeria and it has been attaining continuous growth since the demand for smart TVs is higher not just in Nigeria but around the world. The higher demand for smart TVs in the country shows that the future of this market is bright. Many factors have been contributing to the growth of this market. The emergence of e-commerce platforms makes it extremely easy for people to buy smart TVs online. Platforms such as Konga, Slot, and Jumia offer a different and wide range of TVs as well as they deliver them to the doorsteps of their customers. These smart TVs are evolving in the country with the adoption of smart technology. Features such as 4K resolution, HDR (High Dynamic Range), integration with smart home ecosystems, and AI-powered interfaces drive market growth.

Market by Resolution Type

On the basis of resolution type, the Smart Tv Market in Nigeria is fragmented into HD TV. Full HD TV, 4K UHD TV, and 8K TV. The 4K segment is anticipated to rise significantly in the near future. The 8K segment will also propel in the coming years.

Market by Distribution Channel

According to Dhaval, Research Manager, 6Wresearch, the offline segment dominated the market in the past few years. The online segment is projected to rise more significantly in the years to come.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Nigeria Smart TV Market Outlook
• Market Size of Nigeria Smart TV Market, 2019
• Forecast of Nigeria Smart TV Market, 2026
• Historical Data and Forecast of Nigeria Smart TV Revenues & Volume for the Period 2016 - 2026
• Nigeria Smart TV Market Trend Evolution
• Nigeria Smart TV Market Drivers and Challenges
• Nigeria Smart TV Price Trends
• Nigeria Smart TV Porter's Five Forces
• Nigeria Smart TV Industry Life Cycle
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By Screen Type for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By 28 to 40 inch for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By 41 to 59 inch for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By 60 inch & above for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By Pannel Type for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By LED for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By OLED for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By QLED for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By Others for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By Resolution Type for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By HD TV for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By Full HD TV for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By 4K UHD TV for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By 8K TV for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By Distribution Channel for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By Direct for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By Indirect for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By End Use for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By Commercial for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By Residential for the Period 2016 - 2026
• Historical Data and Forecast of Nigeria Smart TV Market Revenues & Volume By Others for the Period 2016 - 2026
• Nigeria Smart TV Import Export Trade Statistics
• Market Opportunity Assessment By Screen Type
• Market Opportunity Assessment By Pannel Type
• Market Opportunity Assessment By Resolution Type
• Market Opportunity Assessment By Distribution Channel
• Market Opportunity Assessment By End Use
• Nigeria Smart TV Top Companies Market Share
• Nigeria Smart TV Competitive Benchmarking By Technical and Operational Parameters
• Nigeria Smart TV Company Profiles
• Nigeria Smart TV Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Screen Type

• 28 To 40 Inch
• 41 To 59 Inch
• 60 Inch & Above

By Panel Type

• LED
• OLED
• QLED
• Others

By Resolution Type

• HD TV
• Full HD TV
• 4K UHD TV
• 8K TV

By Distribution Channel

• Direct
• Indirect

By End Use

• Commercial
• Residential
• Others