Vietnam Smart TV Market (2023-2029) | Share, Value, Growth, Revenue, Forecast, Size, Trends, Industry, Analysis, Outlook & COVID-19 IMPACT

Vietnam Smart TV Market Synopsis

Vietnam Smart TV Market is forecast to grow steadily in the years to come on account of country's expanding  middle-class population and increasing disposable incomes. The growing popularity of streaming services, technology advancement, and the introduction of new product features are some other factors contributing to the Vietnam Smart TV Market growth. However, high prices and lack of awareness among consumers are restraining the market growth to some extent. Nevertheless, the increasing availability of high-speed Internet has led to a surge in demand for smart TVs in recent years.

According to 6Wresearch, the Vietnam Smart TV Market size is anticipated to grow at a higher growth rate during the 2023-2029. The country's strong economic growth, rising discretionary expenses, and increasing adoption of streaming services are the significant factors driving the demand for smart TVs in Vietnam. There is a growing trend of consumers shifting from traditional cable/satellite TV providers to streaming services as these devices offer access to a wide range of streaming content. Additionally, there is a growing demand for 4K UHD TVs in Vietnam as they provide higher resolution and improved image quality, leading to an increase in the sales of 4K UHD TVs in the country. Moreover, the country has a young population which are tech-savvy and have high disposable incomes. Thereby, driving the demand for smart TVs in Vietnam. However, the market aces several challenges such as lack of content available on these devices. Additionally, the high price point of these devices is also posing major challenges to the Vietnam Smart TV Market share. Also, many consumers are still unaware of the capabilities of smart TVs and this needs to be addressed through marketing campaigns from manufacturers and retailers. Apart from this, the Over-the-top (OTT) services are becoming increasingly popular in Vietnam, resulting in a growing number of consumers opting for smart TVs that offer access to these services. Major players are investing heavily in expanding their user base in Vietnam. This presents a significant opportunity for smart TV manufacturers to collaborate with these platforms and pre-offer built-in features that provide easy access to OTT content.

COVID-19 Impact on the Vietnam Smart TV Market

The global pandemic has had a significant impact on the smart TV market in Vietnam due to the lockdowns and social distancing measures to curb the spread of deadly virus. Due to lockdowns, more people have been spending time at home, leading to an increase in demand for home entertainment options. However, the outbreak has led to a decrease in consumer spending on discretionary items such as smart TVs. In addition, the closure of brick-and-mortar stores and the shift to online shopping is expected to lead to diminished sales of smart TVs through traditional channels. Also, the pandemic has also led to supply chain disruptions that has affected the manufacturing and distribution of smart TVs.

 Market Analysis by Screen Type

By Screen type, 28 to 40 Inch is expected to have a high demand due to the affordability while 41 to 59 inches expected to have a moderate demand due to better viewing experience compared to smaller TVs. suitable for large rooms and offer an immersive viewing experience. 60 inch & above segment is expected to have a low demand due to the high cost associated with larger TVs.

Market Analysis by Distribution Channel

By Distribution Channel, Direct distribution segment is expected to have a low demand due to the limited availability of direct distribution channels. On the other hand, indirect distribution includes sales through retail stores and is likely to have a high demand due to the convenience.

Market Analysis by End Use

According to Dhaval Chourasia, Research Manager, 6Wresearch, the residential end-use segment is expected to have a high demand due to the increasing demand for smart TVs in households. Commercial end-use includes TVs used in cafes, restaurants, hotels, other commercial establishments. This segment is expected to have a low demand due to the negative impact of the COVID-19 pandemic on the hospitality industry.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Vietnam Smart TV Market Outlook
• Market Size of Vietnam Smart TV Market, 2022
• Forecast of Vietnam Smart TV Market, 2029
• Historical Data and Forecast of Vietnam Smart TV Revenues & Volume for the Period 2019 - 2029
• Vietnam Smart TV Market Trend Evolution
• Vietnam Smart TV Market Drivers and Challenges
• Vietnam Smart TV Price Trends
• Vietnam Smart TV Porter's Five Forces
• Vietnam Smart TV Industry Life Cycle
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By Screen Type for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By 28 to 40 inch for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By 41 to 59 inch for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By 60 inch & above for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By Pannel Type for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By LED for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By OLED for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By QLED for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By Resolution Type for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By HD TV for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By Full HD TV for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By 4K UHD TV for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By 8K TV for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By Distribution Channel for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By Direct for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By Indirect for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By End Use for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By Commercial for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By Residential for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Smart TV Market Revenues & Volume By Others for the Period 2019 - 2029
• Vietnam 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
• Vietnam Smart TV Top Companies Market Share
• Vietnam Smart TV Competitive Benchmarking By Technical and Operational Parameters
• Vietnam Smart TV Company Profiles
• Vietnam 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 Pannel 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

Frequently Asked Questions About the Market Study: FAQs

1. What are the major factors propelling the growth of Smart TV market?

The rising disposable income, increasing demand for home entertainment, and government initiatives to promote digitalization.

2. What are the major opportunities in the Vietnam Smart TV Industry?

The introduction of affordable Smart TV models and the expansion of the internet connectivity are the major opportunities in the industry.

3. How is the Vietnam Smart TV market expected to grow in the forthcoming years?

The Vietnam Smart TV market is expected to grow in the future, with increasing demand and government initiatives to promote digitalization.

4. What is the role of the internet in the Smart TV market in Vietnam?

Internet enables users to access online content and streaming services. Thus, driving the market expansion to a great extent. However, limited internet connectivity in some areas can pose a major threat to the market.