New age smart TV gives brands to create a new user experience by grabbing this opportunity at the right time.
The global smart TV market is currently valued at $ 300 billion and is set to become a $ 1.5 trillion market over the next decade, according to FMI.
As per the technology revolution, current generation TVs will be eventually replaced by smart TVs. Currently, a staggering 96.5% of households own a television. This is a market size that no company in the digital space can afford to ignore.
The IoT (Internet of Things) revolution elevating all smart devices like phones, wearable devices and smart applications to connect on a single platform.
The Benefits of Smart TV
Smart TVs are the latest additions to the IoT revolution. These devices offer PC like features allowing you to connect your television to the internet and access various applications and even connect microphones and cameras.
Your smartphone or your tabled becomes your remote for such televisions where in your smart device becomes your second screen.
This technology is largely changing the way we consume content. Your television is not just used for watching movies anymore, it is now a complete entertainment and information package for the entire family.
This innovation has opened up a galaxy of opportunity for businesses to develop material for a wide variety of uses both on the consumer front as well as the B2B markets.
A study by Nielsen shows that an average person in the US alone spends more than 4 hours per day watching television and more than 5 hours per day interacting with some sort of a screened device.
Television advertising accounts for 35% of the entire ad spending budget, making television the biggest ad medium. Television being the dominant medium offers businesses innumerable opportunities to come up with innovative and novel ideas to launch their products ranging from e-commerce, e-learning, live and video streaming to M&E and OTT platforms.
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